Live Market Commentary: Nifty stuck at 6300; TCS, DLF, SBI, Infy top gainers

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3:45 pm Market closing: The market saw a strong performance with support by banks and IT stocks. The Sensex was up 118.99 points at 21193.58, and the Nifty ended at  6313.80 up 34.90 points. About 1374 shares have advanced, 1166 shares declined, and 147 shares are unchanged. BSE IT index jumped 2 percent with Infosys, TCS and Wipro as major gainers. However, oil & gas and auto stocks were under selling pressure. Maruti, Reliance, BHEL and Bajaj Auto were laggards.

3:30 pm Buzzing: Infosys hits record high at Rs 3570, up 1.5 percent intraday on the BSE. However, on the NSE it was just below a record high of 3,573.00 hit on December 20.

3:20 pm Update: Questioning the timing of the steep hike in CNG prices, Arvind Kejriwal today said he will examine whether the increase can be rolled back after taking charge as Delhi’s Chief Minister, reports PTI.

“What was the need to increase CNG prices when a new government is to take over in Delhi. It raises suspicions about their intention. I will look at the files once I take over tomorrow and see if the hike can be rolled back,” Kejriwal said here.

The AAP leader will be sworn in as Delhi Chief Minister tomorrow.

3:10 pm Market check: The Sensex is up 117.34 points at 21191.93, and the Nifty is up 34.00 points at 6312.90. About 1321 shares have advanced, 1109 shares declined, and 137 shares are unchanged.
TCS is up 3 percent, while other gainers in the Sensex are Cipla, Infosys, Wipro and HDFC. Among the losers are Reliance, BHEL, Maruti Suzuki, Bajaj Auto and Hero MotoCorp.

3.00pm: Stocks at 20% upper circuit: Smallcap stocks like DS Kulkarni, C Mahendra Exports, Taneja Aero, Modern Dairies and Cybertech Systems were locked at 20 percent upper circuit.

2:58pm Most active: The most active shares on BSE were Tata Elxsi, Aban Offshore, Infosys, MCX India and SBI.

2:54pm Rupee at day’s high: Indian rupee was trading at day’s high around 61.90 mark depreciating 0.42 percent compared to its previous close.

2:52pm Nifty at 6800-7000: Earlier today in an interview with CNBC-TV18, Vibhav Kapoor of IL&FS said he is more positive on the stock market now than he was two months back. His 12-month Nifty target is 6,800-7,000 and sees 5750-5800 as the base for the index. Read full interview here

2:47pm Buzzing Stock: Shares of Hindustan Motors rallied 5 percent intraday on Friday as it gears up for restructuring. The company has been suffering from poor cash flow due to lack of vehicle sales. Read more

2:41pm: F&O buzzers: Hexaware, Apollo Tyres, Divi’s Labs, Bank of India and TCS are top gainers in the F&O space. On the losing side, Aurobindo Pharma, Jindal Steel, Arvind and Ashok Leyland were trading in red.

Tepid volumes: Lack of participation from fund managers on account of year-end holidays have led to tepid volumes today. A turnover of Rs 62000 crore has been recorded so far which is far less compared to average volumes.

2:35pm: Price Shockers: Stocks like Rico Auto, Welspun Corp, Liberty Shoes, Vaibhav Global and McDowell Holidings have gained more than 50 percent in last 15 trading sessions.

2:30pm: 2013 Celebrity 100 list: In Forbes 2013 Celebrity 100 list, check out which cricketers and celebrities have made debuts this year. Read full story here

2:21pm: Commodity Check: MCX Feb Gold contract was trading at Rs 28429, down Rs 147 or 0.51%. The yellow metal has lost nearly 20 percent from its all-time high of close to Rs 35000 in August.
MCX March Silver contract was trading flat at Rs 44790. MCX Jan Crude oil contract was trading at Rs 6188, down 11 rupees.

The BSE Sensex was trading strong on the final day of the last trading week of 2013. IT heavyweights like Infosys and TCS were star performers of the day. Midcap IT and banking stocks were also minting money for traders.

The Sensex was up 119 points or 0.6% at 21194 and the Nifty was up 33 points or 0.5% at 6312.
The advance decline ratio still remains strong with 1284 shares advancing compared to 1041 shares declining.

TCS was top gainer in the Nifty with close to 3 percent gains followed by Kotak Mahindra Bank (up 2%), NMDC (up 1.9%), Cipla (up 1.75%) and HUL (up 1.27%).

BHEL, Jaiprakash Associates and Maruti Suzuki were top losers in the Nifty losing over a percent each.
In broader markets, stocks like  Apollo Hospitals (up 6%), TVS Motor (up 5.14%), Bajaj Electricals (up 4.97%), Chennai Petro (up 4.37%) and KPIT Tech (up 4.30%) were buzzing on heavy volumes.

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