14:20
Moneycontrol BureauLive Market Commentary
02:20pm Gainers
ICICI Bank continued to be the leader with more than 6 percent gains followed by HDFC Bank with a 4.55 percent upmove.
Among capital goods stocks, Larsen and Toubro and BHEL are up 4 percent and 3 percent, respectively.
Reliance Industries, HDFC, State Bank of India, Maruti Suzuki, Coal India and Tata Power rallied 2-3 percent.
02:14pm Rupee Update
Indian rupee breached the 62 level in early trade today on rally in equity markets following Exit Poll. Currently the currency gained 30 paise at 61.75 against the US dollar, one-month high.
02:04pm The market halved its gains in afternoon trade with the Sensex falling below the 21,000 level due to profit booking in FMCG, healthcare and technology stocks. The 30-share BSE benchmark had rallied more than 450 points in morning trade on Exit poll results that indicated likely win of BJP in four out of five state elections.
The Sensex rose 244.33 points or 1.18 percent to 20,953.04, and the Nifty climbed 77.55 points or 1.26 percent to 6,238.50. The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.25 percent each.
While the Nifty may rally 50-100 basis point (bps) on the likelihood of Bharatiya Janata Party (BJP) coming to power in 3 or 4 of the 4 states, most of the result expectation has been priced into the market, says Dhananjay Sinha of Emkay Global Financial Services.
Speaking to CNBC-TV18, Sinha further adds that no big reforms are likely to be passed in the Winter Session that began in the parliament today.
"The winter session will be happening amidst a lot of political volatility. I do not expect too much of events in the winter session. It will be more as a preparatory work towards 2014 election," he highlights.
Shares of Sun Pharma and Dr Reddy's Labs plunged 2 percent each followed by ITC, Wipro, Infosys, TCS and Cipla with a 0.4-1 percent loss.
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