The Sensex ended marginally higher after touching its lowest in 2013 intra-day on Monday, as technology firms such as Infosys gained on hopes the budget would provide incentives to exporters, while oil & gas company ONGC fell on worries about a potentially higher oil subsidy burden.
Non-banking financial companies rose after the central bank issued guidelines allowing companies to apply for banking licences. Indian shares will be closely monitoring the 2013-14 Budget to be announced on February 28.
"The markets are quite jittery ahead of the Budget and lack of any data inputs is also making the markets very volatile," said Jagannadham Thunuguntla, head of research, SMC Investments and Advisors Ltd. The Sensex rose 0.08 per cent, or 14.68 points, to end at 19,331.69, not far off 2013 closing lows hit on Friday.
The broader Nifty rose 0.08 per cent, or 4.45 points, to end at 5,854.75. Infosys gained 2.7 per cent, while Tata Consultancy Services rose 1.3 per cent on hopes of incentives for exporters in the 2013-14 budget to be unveiled on February 28.
J P Morgan also raised its target price on Infosys to Rs 3,200 from Rs 3,100, while maintaining its "buy" rating. Ranbaxy Laboratories gained 4.9 per cent after it said on Friday it would resume production of its version of Pfizer's cholesterol fighter Lipitor for sale in the United States.
