BSE Sensex, Nifty end with marginal gains; Wipro, TCS gain

Moneycontrol Bureau
Live Market Commentary

3:50 pm Market closing: After a lacklustre trading session, the market managed to end in the green. The Sensex ended 61.56 points or 0.31 percent higher at 19804.03, and the Nifty closed at 5851.40 up 10.85 points or 0.19 percent. About 1103 shares have advanced, 1227 shares declined, and 140 shares are unchanged.
The US Federal Reserve's two-day policy meeting starts today. Economists expect the Fed to reduce its asset purchase programme by USD 10 billion a month. Global markets turn cautious.
Meanwhile, according to a Network18 exclusive the government is planning to hike import duty on gold. The Finance Minister gives his nod to hike gold import duty from 10 percent to 15 percent. 3:30 pm Buzzer: India Glycols shares lost 14 percent in afternoon trade Tuesday on concerns that the company through its subsidiary has significant exposure to NSEL. NSEL stopped trading from July-end on liquidity crisis.
Rakesh Bhartia, CEO of India Glycols says the company through its subsidiary has expsoure to NSEL at Rs 125 crore. Total recovery from NSEL is only 3 percent, he adds.
"We will consider action on NSEL matter based on government steps and we have not made any provision on NSEL exposure," Bhartia says in an interview with CNBC-TV18.
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Finally the market made some movement in the last hour of trade. The Sensex is up 63.33 points or 0.32 percent at 19805.80, and the Nifty up 10.15 points or 0.17 percent at 5850.70.  About 991 shares have advanced, 1217 shares declined, and 141 shares are unchanged.
Technology stocks are boosting the market with Wipro and TCS as lead gainers.
Meanwhile, banking and capital goods are major laggards of the day.
Dr Reddys Labs rallied 4 percent after it received approval from USFDA for generic Vizada injection, used to treat anaemia. Vizada had sales of around USD 378.5 million in the 12-month period ended July 2013, according to its filing.
YES Bank raised USD 255 million thorugh a dual currency multi-tenure loan. Funds will use the proceeds for general corporate purposes and syndicated trade finance. The stock gained 3 percent.