Markets were trading flat on Monday after US Labor Department on Friday announced that non-farm jobs increased by 175,000 in February, boosting speculation that US Fed would continue with tapering of the quantitative easing.
The BSE benchmark, the Sensex was trading 2.59 points or 0.01% higher at 21,922.38 points, while the NSE's Nifty was trading 3.85 points or 0.06% higher at 6,530.50 points at 10.24 am IST.
Experts feel markets can see a some correction from current levels. "Markets are likely to remain largely positive though there are chances of small corrections. Most sectors are likely to do well. Immediate support for Nifty is at 6450, while resistance is at 6600 levels," HDFC Securities said in its morning note.
Among sectoral indices, the BSE Capital Goods (1.89%), BSE Bankex (1.14%) and BSE Realty (1.05%) were the major gainers. Among individual stocks, BHEL (2.99%), RIL (2.49%) and Larsen & Tourbo (2.01%) were the major gainers.
Meanwhile, most Asian indices were trading lower. The Nikkei (-0.96%), Hang Seng (-1.61%), Kospi (-1.04%), Straits Times (-0.44%) and Shanghai Composite (-1.69%) were trading in the red.
Back home, markets would be eyeing the industrial output data (IIP) for further cues. The IIP numbers for January would be out on Wednesday.