Experts feel outcome of elections would be the key trigger for the markets. "The outcome of national elections is important in that the formation of a stable government post the 2014 national elections will likely result in a further push to the ongoing economic reforms," Kotak Institutional Equities said in a research report on wednesday.
Among sectoral indices, the BSE Realty (1.95%), BSE Bankex (1.47%) and BSE Capital Goods (1.13%) were the major gainers. Among individual stocks, ICICI Bank (2.7%), * Coal India (1.74%) and * Cipla (1.72%) were the major gainers on the 30-share Sensex.
Meanwhile, the HSBC Services Purchasing Managers' Index (PMI), compiled by Markit, rose to 48.8 in February from 48.3, but remained below the 50 mark that separates growth from contraction.
Most Asian indices ended in the green with tensions in Ukraine easing. The Nikkei (1.2%), Straits Times (0.38%), Kospi (0.88%) and Jakarta Composite (1.26%) ended in the green . Markets would be eyeing European GDP data for further cues.