Live Market Updates: Nifty up 20; IDFC, Bank of Baroda, Ambuja Cements shine

Nifty has hit a fresh low of 5631.8 for this calendar. The Sensex is all set for one of its biggest weekly loss of the calendar year 2013. The Nifty is trading perilously close to 200 DMA of 5615 and one can expect some support around that level. But if the index fails to hold that level, there could be more mayhem in store.

The Sensex is up 49 points at 18842 and the Nifty up 26 points at 5685.65. About 875 shares have advanced, 1858 shares declined, and 819 shares are unchanged.

Big cracks have opened in some of the heavyweight stocks like DLF, Ranbaxy, Tata Motors, Tata Steel. There is buying seen in stocks like Bajaj Auto, Tata Power, Jindal Steel and Hero Moto.

IDFC, Bank of Baroda, Ambuja Cements, Bajaj Auto and Reliance Infra are top gainers on the Nifty.

DLF, Ranbaxy Labs, Bharti Airtel, Tata Motors and Sun Pharma are top losers.

Banking heavyweights like ICICI Bank, State Bank of India are under pressure as the economy is not showing any clear signs of recovery. Sentiment for banks has soured in recent weeks as these stocks would be the hardest hit if the economy does not recover soon.

Tata Motors is down 2.9 percent after rising as much as 1.7 percent earlier in the session.

Fresh long positions are seen in stocks like Bank of Baroda and Ambuja Cements.