Benchmark indices advanced on Tuesday amid a firm trend in Asian markets. The BSE barometer, the Sensex was trading 80 points or 0.3% higher at 20,414.36 points, while the NSE's Nifty was trading 17.15 points or 0.28% higher at 6,070.60 points at 10.45 am IST.
Experts expect markets to trade within a narrow range. “Nifty may trade within a range of 6000 – 6150 in near term. Selling pressure may increase, if Nifty breaks 6000 and close below support level,” Standard Chartered analysts said in a research note. “The trend in investment by foreign institutional investors (FIIs) and the data on industrial production for December 2013 which will be out on Wednesday will dictate the near-term movement,” the note added.
Among sectoral indices, BSE IT (1.53%), BSE Consumer Durables (1.10%) and BSE FMCG (0.11%) were the major gainers. Among individual stocks, Tata Motors (2.88%), Tata Steel (1.86%) and TCS (1.47%) were the major gainers. Shares of Tata Motors gained after the automaker reported 195% y-o-y rise in its net profit to Rs 4,804.80 in Q3.
Among key Asian indices, the Nikkei was up 1.77%. The Hang Seng (1.82%), Kospi (0.46%), Straits Times (0.61%) and Shanghai Composite (0.46%) were the major gainers.