Infosys shares hit 3-year high, GSK Pharma is a long-term buy & more

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	Dated:16 December,2013

Top Headlines Infosys hits 3-year high of Rs 3464; BofA-ML pegs it at Rs 4000 Top IT stocks have given solid returns over the last few months. Would it be prudent for investors to exit the sector? $1 bn bet: GSK Pharma a short-term sell, long-term buy, say experts The stock is at rich valuations despite low sales and profit growth. The open offer by its parent firm is attractively priced, say experts. Markets okay with 25 bps hike; but a hawkish RBI may trigger selloff According to analysts, the RBI's mid quarter review of monetary policy and the US Federal Reserve's meeting is likely to dictate the trend for the markets. Views on Stocks/Markets Buy midcap stocks like KPIT Cummins, NIIT and Voltas on dips: Dipen Shah Banks will not perform well if Fed taper comes in higher: PhillipCapital Bullish on IT, Infosys our top pick: Amit Khurana, Dolat Capital Market IPO/Global Markets Nikkei drops to 3-1/2-week low China shares fall to 4-week low HK shares end at 4-week low Rupee / Gold Rupee ends at 61.73 Gold down by Rs 250 'See downward pressure on Re' More 'Market' News Sensex down 56 pts to 2-week low, WPI data raises rate hike risk The 30-share index, which was today dragged lower by losses in RIL, HDFC Bank and Sun Pharma shares, has now lost 667 points in five straight sessions to end at its lowest level since November 28 when it had ended at 20,534.91. Rupee seen headed towards 60, but Fed factor may spook it 'Since the rupee's fall was due to negative sentiments, positive sentiments should create a bias towards 55. But that would be post March.' Market beginning to price in 25 bps rate hike: Nomura India "We are recommending clients to take advantage of this fall and add on to the cyclicals and financials in terms of their portfolio positioning," says Tushar Mahajan.	Market Round-up SENSEX 20659.52 -56.06 NIFTY 6154.70 -13.70 S&P500 1,682.32 10.61 NASDAQ 3,726.90 20.72 USD/INR 62.1750 .00 USD/INR 62.1750 .00 NSE Gainers Scrip Price(Rs.) %Change Dalmia Bharat Ltd. 160.55 + 19.99 Nitin Spinners Ltd. 15.45 + 19.77 GlaxoSmithKline Pharmaceu 2,925.60 + 18.92 Sharon Bio-Medicine Ltd. 368.65 + 17.57 Aurobindo Pharma Ltd. 349.05 + 12.60 NSE Losers Scrip Price(Rs.) %Change Ujaas Energy Ltd. 11.35 -14.34 Elder Pharmaceuticals Ltd 271.90 -9.09 Techno Electric & Enginee 107.45 -6.16 Somany Ceramics Ltd. 100.10 -6.14 Kingfisher Airlines Ltd. 3.90 -6.02

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