Mumbai, March 14 (IANS) Key Indian equity market indices ended higher on Monday following global cues and on hopes of better retail inflation numbers expected later in the day.
A benchmark index for Indian equities, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 24,801.70 points, closed at 24,804.28 points -- up 86.29 points, or 0.35 percent over the previous day's close at 24,717.99 points.
It touched a high of 24,960.51 points and a low of 24,734.04 points in the day's trade.
The wider Nifty of the National Stock Exchange also closed 28.55 points or 0.38 percent higher at 7,538.75 pont.
"Key benchmark indices in India opened in the green and traded in the positive terrain for the rest of the day. Markets, however, did give up most of the opening gains to finally close near the dotted line," said Shreyash Devalkar, fund manager - equities, BNP Paribas Mutual Fund.
"Firm Asian stocks, buoyed by gains on Wall Street on Friday and firmer crude oil prices helped give a fillip to the prevailing positive momentum and pushed benchmark indices to hit a six-week high," he said.
"Wholesale Price Index (WPI) released during the day offered little surprise, but forecasts for lower Consumer Price Index (CPI) figure for February, due for release later in the day, arrested declines on expectations of further rate cuts when RBI meets next in April," said Anand James, co-head, technical research desk, Geojit BNP Paribas Financial Services.
India's annual wholesale inflation eased marginally to (-)0.91 percent for February, from (-)0.90 percent in the previous month, but was higher than the (-)2.17 percent level in the like month of the previous year, official data showed on Monday.
The 100-scrip and 200-scrip indices of the BSE were higher by 0.34 percent and 0.34 percent, respectively. The mid-cap index was higher by 0.31 percent, while small-cap stocks were up by 0.41 percent.
In Monday's trade, good buying was observed in banking, industrials and fast moving consumer goods (FMCG) sectors, while selling pressure was seen in metal sector.
Sector-wise, the S&P BSE bankex gained by 0.81 percent, industrials index moved up by 0.73 percent and FMCG index went up by 0.69 percent. However, metal index went down by 2.04 percent.
The major Sensex gainers on Monday were: ICICI Bank, up 3.70 percent at Rs.221.70; Tata Motors, up 3.36 percent at Rs.365.90; BHEL, up 1.88 percent at Rs.105.60; and ONGC, up 1.51 percent at Rs.208.20.
The losers were: Coal India, down 6.96 percent at Rs.296.85; TCS, down 0.88 percent at Rs.2,345.15; Mahindra and Mahindra, down 0.73 percent at Rs.1,211; and Sun Pharma, down 0.43 percent at Rs.864.
Among the Asian markets, Japan's Nikkei was higher by 1.74 percent, Hong Kong's Hang Seng gained by 1.17 percent and China's Shanghai Composite Index ended higher by 1.76 percent.
In Europe, London's FTSE 100 was higher by 0.57 percent, France's CAC 40 was up by 0.54 percent and Germany's DAX Index was up by 1.57 percent at the closing of the Indian markets.
