Sensex, Nifty end higher; TCS up 3%, BHEL & Reliance weak

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.

1:50 pm Interview: The government recently hiked the customs duty on imported natural rubber from Rs 20/kg or 20 percent (whichever being lower) to Rs 30/kg or 30 percent (lower of the two). The move was prompted by a shortfall in domestic rubber production and cheap international rubber prices that led to increased rubber imports by tyre companies.

A Subba Rao, CFO of the company said in an interview to CNBC-TV18, "It is unfortunate but it is not a significant increase: about Rs 10 per kilo. Rubber prices were anyway expected around Rs 160 levels. Since rubber prices haven't gone up significantly, it's not going to impact the industry. It also boils down to demand. The auto industry has not been doing very well, we are seeing mostly replacement demand. So in the tyre-cost structure, natural rubber has about 30 percent cost component. An increase of Rs 10 would translate into about Rs 2-2.5 cost increase so it is not significant."

1:40 pm Exclusive: Speaking to CNBC-TV18 , Subir Gokarn says inflation may ease a bit on the back of softening vegetable prices in December. However, rice prices rising by 15-16 percent this year indicate food inflation will remain high.

"I would be interested in what the full budget 2013-14 is, which may be presented three months after the year begins. That has to have a strategy - that has to be a blockbuster in terms of complete change in direction both on expenditures and on revenues; at least laying foundation for that for us to start breathing a little easier on fiscal front," said Gokarn.

1:30 pm Crude check: Brent crude slipped towards USD 111 a barrel, after settling at the highest in more than three weeks, although supply disruptions in Africa and firmer oil product prices in the United States checked losses, reports Reuters.

Escalating violence in South Sudan threatened to further reduce the country's crude output, adding to supply cuts from Libya. US gasoline and heating oil futures hit three-month highs on Thursday as strikes at two French refineries persist.

The market is making smart gains as the Nifty holds 6300. The Sensex is up 136.33 points at 21210.92, and the Nifty is up 37.90 points at 6316.80. About 1308 shares have advanced, 1011 shares declined, and 131 shares are unchanged.

TCS , SBI , Infosys , HDFC and HUL are top gainers in the Sensex. Among the losers are BHEL , Maruti Suzuki, Bajaj Auto , Hero MotoCorp and Reliance . Kotak Institutional Equities downgraded Maruti Suzuki India to "sell" from "reduce," saying the outlook for the company will be more challenging than currently priced by the stock.

Kotak notes Maruti Suzuki shares are factoring in expectations for a "sharp recovery" in volumes in fiscal year 2015 but says the year could instead be challenging because of "high inflation and weak job market conditions."

Power stocks cheer environment ministry's move as it eases environment clearance process for the industry. The ministry has done away with mandatory environmental impact assessments for small power units.

The benchmark index Nifty is holding 6300 mark on the first day of the January series led by gains in heavyweights like DLF , HDFC , TCS and Infosys . The broader markets continue to outperform largecaps in trade today. The volumes are on the lower side on account of festive mood of Christmas and year-end holidays.

The Sensex was up 128 points at 21203, and the Nifty was up 36 points or 0.6% at 6315.The breadth of the market was also strong. About 1233 shares advanced, 847 shares declined, and 111 shares remain unchanged.

Top gainers in the Nifty were DLF (up 2.38%), NMDC (up 2.13%), Cipla (up 1.87%), TCS (up 1.83%) and Bank of Baroda (up 1.75%).

Maruti Suzuki (down 1.32%), BHEL (down 1.26%) and Asian Paints (down 0.89%) were major laggards in the Nifty.

In Asian markets, Japans' Nikkei closed at fresh 6-year high. This is the fifth time Nikkei has closed at 6-year high in past one week on weaker yen.

In the midcap space, stocks like C Mahendra Exports (up 16.97%), Monsanto India (up 12.89%), Everest Industries (up 11.99%), Gitanjali Gems  (up 11.08%) and Accelya Kale (up 10.14%) were making money for traders.

Stocks above 200 DMA
Stocks like Jindal Steel , Glenmark Pharma , Indian Bank , Cipla, HPCL and Lanco Infratech are trading above their respective 200 day moving averages.

Buzzing sector
Agro-chemicals and pesticides stocks were buzzing in trade today on reports of environment minister Veerappa Moily expected to cast his vote in favour of allowing genetically modified food crops, overturning the position of his immediate predecessors - Jayanthi Natarajan and Jairam Ramesh. Monsanto India was up 12 percent in trade after touching a fresh 2-year high on back of this news. See how other stocks have performed

52-week high/All-time high
Glaxosmithkline Pharma, Kajaria Ceramics , Procter & Gamble and Repco Home Finance touched life-high today.

F&O buzzers
F&O stocks like Exide Industries , Syndicate Bank , Bank of India , Tech Mahindra , Sun Pharma and Union Bank have seen huge surge in open interest along with an increase in price indicating fresh long positions.

Nifty futures were trading at a premium of 53 points. Nifty's Put Call Ratio now stands at 0.86. India VIX was trading below 15 mark after touching 8-month low in trade yesterday.

Nifty 6500 call added 5 lakh shares in open interest while Nifty 6300 Put added 6 lakh shares in open interest suggesting put writing at 6300 levels and immediate support level for the market.

Bank Nifty saw strong rollovers of 69.28 percent in January compared to 3-month average of 61.67 percent and 62.41 percent respectively. Bank Nifty was up 0.6 percent in trade today.

11:50 am Stock tip: Deven Choksey, managing director of KR Choksey Shares and Securities told CNBC-TV18, "In Q1 of 2014, Maruti Suzuki India is coming up with 660 cc car which probably is going to drive the volume from the rural market. The kind of strategy that it has adopted in going to the rural market further down in villages endorses the view that the company is well positioned for bringing the volume led growth in the books."

"To my mind, I think the fundamentals are going to look a bit better than otherwise. So I would continue to hold Maruti and probably I think keep a buy target price of around Rs 2,000 to Rs 2,200 over next 12-15 months time," he said.

11:40 am Current Affairs: Delhi's Chief Minister-designate Arvind Kejriwal said Friday that he will try to get the CNG price hike rolled back, and hinted at a hike in auto rickshaw fare if the rollback was not possible, reports agencies.

"Give me two days, we will see if the CNG price hike can be rolled back. We will talk to the central government. If it is necessary to raise the prices and it cannot be rolled back, auto fares will have to be revised," Kejriwal said.

Prices of compressed natural gas (CNG), which is used in auto rickshaws and buses, was hiked by nearly 10 percent Thursday midnight, raising it to Rs.50.10 per kg, a hike of Rs.4.50 a kg.

11:30 am Market outlook: Vibhav Kapoor of IL&FS is more positive on the stock market now than he was two months back. He is optimistic on the market as valuations are at reasonable levels but is still cautious. His 12-month Nifty target is 6,800-7,000 and sees 5750-5800 as the base for the index. The Nifty is seen trading around 6700-6800 in 12 months from now and is poised to give reasonable returns in a year's time, he added.

IT, oil & gas, pharma and telecom are his top sectoral bets. Gas prices being hiked to double is a positive for ONGC and RIL and he expects both index heavy weights to fetch 12-15 percent returns over 12 months. Technology stocks remained in focus for most part of this year due to rupee's steep depreciation.

The market is managing to hold gains as the Nifty is stuck at 6300. The Nifty is up 27.90 points at 6306.80 while the Sensex is up 101.09 points at 21175.68. About 1256 shares have advanced, 803 shares declined, and 106 shares are unchanged.

IT and realty are holding gains while oil and gas stocks are under pressure. Infosys , HDFC , Sesa Sterlite, SBI and TCS continue to lead the Sensex. Reliance , BHEL , Maruti Suzuki, ONGC and Tata Steel are laggards.

The rupee opened higher against the US dollar tracking the rise in euro and some Asian currencies. However, it was quick to give up most of its initial gains as importers rushed to cover their month-end dollar demand.

Government bond prices traded with a weak bias ahead of the Rs 15,000 crore auction today. The market will await outcome of the auction for further cues on bond prices.

Currencies saw the euro trade in a tight range while the yen traded a 5-year low against the dollar. The US 10 year hit 3 percent on an intraday basis.

Commodities saw Nymex hit a two-month high near USD 100/bbl while gold was steady in thin trade at USD 1210/oz.

Asian indices are mixed in choppy trade with Japan's Nikkei attracting profit booking after touching six-year high.

10:50 am Interview: JSW Steel has decided to hike prices by up to 2 percent across the board from January. Seshagiri Rao, Joint MD & Group CFO, JSW Steel, said though the demand is flat, there are pressure on the cost side, particularly iron ore (there's a shortage of iron ore), thus the prices have gone up substantially. "There's a freight increase and and a cost increase which we need to pass it on. At the sametime, there had been a hike in the steel prices internationally," he said on CNBC-TV 18.

JSW Steel expects the exports In FY15 to be at 4 million tonne versus 3 million tonne (YoY). The company expects sales volumes in FY15 to improve by 1 million tonne to 12.6 million tonne (YoY) and to continue to spend Rs 1,000 crore per quarter.

10:30 am Brokerage view: Kotak Institutional Equities downgraded Maruti Suzuki India to "sell" from "reduce," saying the outlook for the company will be more challenging than currently priced by the stock.

Kotak notes Maruti Suzuki shares are factoring in expectations for a "sharp recovery" in volumes in fiscal year 2015 but says the year could instead be challenging because of "high inflation and weak job market conditions."

"We are also concerned on low capacity utilization levels of the industry and strong competitor launches, which will restrict operating margin improvement," Kotak adds.

The market kick-starts January F&O series with a bang. In the initial trading hour, the Nifty which has been facing stiff resistance at 6300 has clawed back that level. The Nifty is up 33.85 points at 6312.75. The Sensex is up 119.66 points at 21194.2. About 846 shares have advanced, 407 shares declined, and 58 shares are unchanged.

Technology and banking stocks are lending support to the indices. Infosys , SBI , Wipro , Sesa Sterlite and Wipro are major gainers in the Sensex. On the losing side are BHEL , Maruti Suzuki, M&M, ONGC and Hero MotoCorp.

Deven Choksey, MD, KR Choksey Shares and Securities says that individual stock specific action has taken over as far as the month of December is concerned January does not look different.

''The primary reason for individual stocks performing is largely because of some of the triggers are from the decisions that the government is taking. I believe that the intent of the government is becoming very serious, at least, in building the scorecard before the election in clearing some of the projects for sure. They are available at valuation, which are quite comfortable at this point of time. Maybe you could see an upside into individual stocks more than an index specific movement in today's market. So relatively more concentrating on the individual stocks vis--vis the index per se as far as month of January is concerned,'' he said in an interview to CNBC-TV18.

9:55 am Market check: The Sensex is up 101.39 points  at 21175.98, and the Nifty is up 27.50 points  at 6306.40. About 822 shares have advanced, 404 shares declined, and 50 shares are unchanged.

9:45 am Spreading wings: Sahara Q, the FMCG division of Sahara India Pariwar, as part of expansion plans has proposed to increase number of its outlets to 30,000 by 2016-end.

Currently, the company has 1,100 exclusive brand outlets in 14 states and has distributorships in 29 States, Sahara India Pariwar said in a statement. Sahara Q manufactures and sells 895 products in categories of staple, processed food, water and beverages, home care, personal care, home appliances and kitchenware, it said.

In Tamil Nadu, the company said it plans to have 21 outlets by March 2014, 550 by March 2015 and by March 2016, the number of stores would reach to 1,900 outlets, it said. The number of distributors in the state would also be increased to 200 from the existing 131. It also plans to have 55 Sahara Quality Mobile shop by March 2014, the statement said.

9:30 am Buzzing: Shares of Indraprastha Gas ( IGL ) jumped 4 percent intraday on Friday as price of compressed natural gas (CNG) in Delhi was hiked by a steep Rs 4.50 per kg. This is the second increase in rates in three months. Also, the price of cooking gas piped to kitchens has been increased by Rs 5.15 per kg with effect from midnight tonight.

IGL is the sole retailer of CNG and PNG in the national capital.  CNG will cost Rs 50.10 per kg in Delhi and Rs 56.70 per kg in Noida, Greater Noida & Ghaziabad from midnight tonight.

The market has opened the January series on positive note. The Sensex is up 61.14 points at 21135.73, and the Nifty is up 13.90 points at 6292.80. About 319 shares have advanced, 69 shares declined, and 11 shares are unchanged.

Sesa Sterlite, ICICI Bank , Axis Bank , SBI and Infosys are early gainers in the Sensex. On the losing side are BHEL , GAIL , M&M, Maruti Suzuki and ONGC .

The Indian rupee gained in the early trade. It opened higher by 19 paise at 61.96 per dollar versus 62.15 Thursday. The yen wallowed at five-year troughs against the dollar and euro this morning having fallen prey to a renewed appetite for risk. The dollar index is a tad subdued below 80.5 levels and the euro dollar has risen to 1.37.

Pramit Brahmbhatt, Alpari India said, "Rupee is going to be range bound today with a slight negative bias owing to a choppy equity market and strong dollar on hopes of better economic data in the international market."

"However dollar selling by exporters and FII inflow will provide some positive push. The range for the day seen between 61.40-62.20/USD," he added.

The US market on Thursday closed at a record high with all major indices closing above their previous highs including S&P 500 that closed at record high for the fifth consecutive session on the back of strong unemployment report boosting market sentiment. According to the US Labor Department, for the first time the unemployment claims fell to 338,000.

Asian markets opened positive in the morning, with Japan at a 6-year high tracking the Wall Street rally. Meanwhile in commodities, Brent crude trades around USD 111 per barrel and gold slips below USD 1200.