Nifty races towards life high; Sensex up in Mahurat trade

Written By Unknown on Minggu, 03 November 2013 | 20.07

18:15

Moneycontrol Bureau
Live Market Commentary 

6:30 pm Market check: The Sensex is up 63.14 points at 21259.95, and the Nifty up 15.25 points at 6322.45. About 1011 shares have advanced, 250 shares declined, and 58 shares are unchanged.

The market has opened on a good mood in Mahurat trading. The Sensex is up 80.63 points at 21277.44, and the Nifty up 24.85 points at 6332.05. About 414 shares have advanced, 79 shares declined, and 11 shares are unchanged.

Stock specifically, BHEL, Tata Steel, Sun Pharma, Tata Power and SBI. Top losers in the Sensex are HDFC, Coal India, HDFC Bank, M&M and Dr Reddy's Labs.

Sanju Verma, group chief executive officer, Violet Arch feels the market is currently polarised between smart money and hot money. She believes that 6400 or 6500, at those levels the market will tire itself out and 6400 looks likely in near term.

However, Raamdeo Agarwal, Joint MD, Motilal Oswal Financial Services sees correction in the middle of November. Now the mood is building up for state election results, he adds.

Nearly Rs 5,000 crore worth of shares were bought by foreign institutional investors during the week while the month gone by saw FII buying of Rs 18,000 crore, highest since February 2013.



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