Markets end higher, US jobs data eyed

Markets gained for the second straight day but ended off their day highs as investors turned cautious and booked profits at higher levels on concerns that the US Fed may tone down its monetary stimulus measures if the jobs data, due for release later today, is better-than-expected. Resumption of buying by foreign institutional investors also helped improve sentiment.

The 30-share Sensex ended up 85 points at 19,496 after hitting an intra-day high of 19,640 and the 50-share Nifty gained 31 points to close at 5,868 after topping the 5,900 mark in intra-day trades.

Foreign Institutional Investors were net buyers of equities in the cash segment worth Rs 164 crore, exchange data showed.

Asian stocks gained on Friday, while sterling hit a five-week low, after two of Europe's most important central banks surprised the market by assuring investors they were in no hurry to wind down stimulus. In Asia, Japan's Nikkei average closed 2.1% higher at 14,310 and touched a five-week high. Shanghai Composite ended flat while Hang Seng surged 1.9% and Straits Times ended up 0.8%.

European shares were trading mixed as investors remained cautious ahead of the US jobs data due for release later today. The CAC-40 and DAX were down 0.1% while FTSE-100 was trading 0.7% higher.

The BSE Oil and Gas index was the top sectoral gainer on the BSE up 1.5% followed by FMCG, Metal, Capital Goods and Bankex indices.

Oil and Gas shares rebounded from their lows after profit taking was seen in the previous sessions. Reliance Ind ended up 2.1% while ONGC gained 2.2%.

FMCG shares witnessed buying after Hindustan Unilever parent's open offer received good response. HUL ended up 1.4% after surging in early trades. Earlier, the stock had rallied over 4% in opening trades to touch an all-time high of Rs 631.95 after its parent company Unilever said it has acquired 14.8% stake against target of 22.5% in Indian unit. ITC ended up 1%.

Other Sensex gainers include, HDFC Bank and Tata Motors.

Bharti Airtel, Mah&Mah, TCS and ICICI Bank were some of the Sensex losers.

Among other shares, Gitanjali Gems and MMTC remained under selling pressure. MMTC ended locked in 5% lower circuit at Rs 79.75, its lowest value since July 2006 on BSE. Gitanjali Gems ended down 5% at Rs 183.

BGR Energy Systems dipped 3% to end at Rs 123 after the promtoers’s 3% share sale commenced on bourses. The promoter has fixed floor price at Rs 118 per share.

Accelya Kale Solutions Ltd (formerly Kale Consultants) has surged 7.3% to end at Rs 489, on winning outsourcing contract from Garuda Indonesia.

Parekh Aluminex ended in 10% upper circuit at Rs 49.10, extending its previous day’s 5% rally, after the company said the restructuring of the liabilities of the company are at the final stage of the approval.

In the broader market, the BSE Mid-cap ended up 0.2% while the Small-cap index gained 0.3%.

Market breadth ended strong with 1,205 gainers and 1,130 losers on the BSE.