Sensex choppy; Coal India surges 5%, LT under pressure

14:17

Moneycontrol Bureau
Live Market Commentary
The market is heading to snap five-day losing streak on Wednesday. The 30-share BSE Sensex rose 75.14 points to 20,768.38, and the 50-share NSE Nifty climbed 23.05 points to 6,185.30. About 1376 shares have advanced, 952 shares declined, and 441 shares are unchanged.

Nirmal Bang Institutional Equities was betting on the Nifty touching 7000 by March 2014. This view is now under review, though the call hasn't been changed yet. Chief executive officer Rahul Arora says a couple of things have changed.

"6150 has become an important level, there has been FII selling around this level and the political scenario too has changed. In the last quarter of the last calendar year there was a lot of noise about the BJP winning the elections, which has now receded," Arora reasoned.

Shares of Coal India rallied 5 percent on hopes of interim dividend in the forthcoming board meet.

"A meeting of the board of directors of the company will be held on January 14, 2014, to consider payment of interim dividend, if any, for the year 2013-14," the company said in its filing to the exchange.

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