Markets ended in the green on Wednesday on the back of value-buying with BSE barometer Sensex up 0.2% or 49.10 points at 20,261.03 points, while NSEs Nifty was up 0.4% or 21.50 points at 6,022.40 points. The 30-share Sensex fell as much as 0.67% or 135.83 points intra-day.
Experts expect markets to keep correcting and recovering, going ahead. Investors remain bullish in medim- to long-term. Markets are likely to see regular correction and recovery. Apart from this, the fact that rupee has remained stable is a source of great comfort for emerging markets. The markets today recovered on value-buying, said Nirmal Jain, chairman, IIFL. Another positive for the market is the weak US ISM manufacturing data, which could force US Fed to slowdown QE tapering, he added. The US ISM manufacturing data decreased to 51.3 in January from 56.5 in December.
Among sectoral indices, BSE Realty (1.59%), BSE Auto (1.63%) and BSE Metal (1.60%) were the major gainers. Among individual stocks, Tata Steel (4.69%), Tata Motors (2.86%) and Mahindra & Mahindra (2.51%) were the major gainers on Sensex.
Shares of Ranbaxy shares gained 5.69% to Rs 340.05 as the pharma major narrowed its loss to Rs 158.94 crore in Q4CY13 from Rs 492.45 crore, a year ago.
Among key Asian indices, Nikkei (1.23%), Kospi (0.24%) and Jakarta Composite (0.74%), were in the green. Dow Jones Industrial Average (0.47%) and Nasdaq Composite (0.86%) were in the green on Tuesday.