Mkt ends on a new high: Nifty above 5,500; IT sulks

It was yet another strong session for the markets despite IT stocks bleeding on account of weak guidance from Infosys. Despite a deep cut in technology market ended on anew high as buying was seen in oil & gas, auto, capital goods and realty stocks.

Sensex closed near 18,800 levels and Nifty closed above 5500 mark for the first time ever. IT & sugar stocks were sulking but rest of the markets continued to party with buying in scrips across sectors. Rest of the Asia also ended higher.

Buying is seen in on all dips which has helped markets to stay at the higher levels. Capital good stocks were trading firm with BHEL & L&T as top gainers followed by auto and realty stocks.

Selling pressure was seen in IT stocks as the markets have given thumbs down to Infosys second quarter numbers. The rupee is trading flat at 39.31 against the dollar. Infosys saw Q2 growth in rupee terms at 8.8%; dollar terms 10.1% in Q2.

Telecom stocks VSNL up 7%, MTNL up 6%, Reliance Communication was up over 3%. Metal stocks continue to attract buying Sterlite Ind was up 6% and Tata Steel is up 2%.

Sensex was up 155.82 points or 0.84% at 18814.07, and the Nifty up 83.40 points or 1.53% at 5524.85.

About 1477 shares have advanced, 1484 shares declined, and 84 shares are unchanged.

The BSE Small Cap Index closed at 9,120.38 up 1.1%.

The BSE Midcap Index ended at 7,590.60 up 1.4%. 

The BSE FMCG Index closed at 2,183.79 up 2%. Bata India, GlaxoSmith Con, United Brewerie, ITC, United Spirits were among the gainers.

The BSE Metal Index closed at 14,832.64 up 3%.  Jindal Steel, Sterlite Ind, Shree Precoated, Hindalco, SAIL, JSW Steel were among the gainers.

The BSE Capital Goods Index was up 3% at 17,088.00. AIA Engineering, Punj Lloyd, Reliance Infra, Alstom Projects, Gammon India, Areva T&D up over 5% each.

The BSE Auto Index closed at 5,603.85 up 3%. MRF, Mah and Mah, Exide Industrie, Escorts, Hind Motors were among the gainers.

The BSE IT Index closed at 4,766.72 down 5.6%.  Tech Mahindra, Infosys, Mphasis, HCL Tech, Satyam ended higher.

The BSE Bankex was up 2% at 9,570.79. Bank of India, Federal Bank, HDFC Bank, Bank of Baroda, ICICI Bank closed higher.

The BSE Oil and Gas Index closed at 10,725.65 up 2%. ONGC, Essar Oil, GAIL, Reliance Petro, Reliance Natura closed in green.

The NSE cash turnover was at Rs 15830.27 crore and the NSE F&O turnover was at Rs 72261.05 crore. The BSE cash turnover was Rs 10543.80 crore. Total market wide turnover was at Rs 98635.12 crore.

Market off day's low

The markets have shown some recovery and are off day's low. Sensex is trading in green but Nifty has made good gains. Nifty hit the 5,500 mark for the first time ever. Buying is seen in on all dips which has helped markets to stay at the higher levels. Capital good stocks are trading firm with BHEL & L&T as top gainers followed by auto and realty stocks.

Selling pressure is seen in IT stocks as the markets have given thumbs down to Infosys second quarter numbers. The rupee is trading flat at 39.31 against the dollar.

Infosys saw Q2 growth in rupee terms at 8.8%; dollar terms 10.1% in Q2 and the stock was trading at Rs 1,970.00 down 7.27% from its previous close of Rs 2,124.55.

Telecom and heavies like L&T are on a tear. Telecom stocks VSNL up 7%, MTNL up 6%, Reliance Communication is up over 3%. L&T is up 3%.

Metal stocks continue to attract buying Sterlite Ind is up 6% at Rs 810 and Tata Steel is up 2%.

Mkt trades weak: Infy, Satyam, Wipro top losers

Markets have slipped in the negative terrain as profit booking set in at the higher levels. Nifty is trading flat with a negative bias and Sensex is in red with moderate losses. Selling pressure is seen in IT stocks as the markets have given thumbs down to Infosys second quarter numbers. The rupee is trading flat at 39.31 against the dollar.

Markets lacklustre: Infy, Satyam, Wipro top losers

The markets are trading flat amid choppiness. Selling pressure is seen in IT stocks as the markets have given thumbs down to Infosys second quarter numbers.

Infosys saw growth in rupee terms at 8.8%; dollar terms 10.1% and the stock was trading at Rs 1,986.00 down 6.52% from its previous close of Rs 2,124.55.

Telecom and heavies like L&T are on a tear. Telecom stocks VSNL up 7%, MTNL up 6%, Reliance Communication is up over 3%. L&T is up 3%.

Metal stocks continue to attract buying Sterlite Ind is up 6% at Rs 810 and Tata Steel is up 2%.

Market trades flat; Tech stocks weak

The markets are trading flat on account of selling pressure in the IT, banking and consumer durable sector. IT stocks have been butchered today on account of disappointing Q2 numbers of Infosys.

Top gainers on the Sensex are Larsen at Rs 3,475 up 3.05%, Mah and Mah at Rs 772 up 2.09% and Tata Steel at Rs 860.10 up 1.72%. 

Top losers on the Sensex are Infosys at Rs 2,018 down 5.02%, Satyam at Rs 472 down 2.53% and TCS at Rs 1,097 down 2.48%. 

Most active shares on BSE are Reliance at Rs 2,650 with 239,993 shares, Reliance Petro at Rs 177.25 with 3,173,885 shares and Infosys at Rs 2,016.80 with 255,949 shares.  

IT stock are trading extremely weak. BSE IT index was down over 5.6% at 4766.44, Major losers in the IT pack were Satyam at 453.10 down 6.43%, Infosys at 1992 down 6.24%, TCS at 1073 down 4.62% Wipro at 480 down 4.60%.

Markets open with modest gains: Infosys down

The markets opened with modest gains today on account of buying seen in the oil & gas, auto, power and telacom sector. However, the IT pack opened on weak note led by Infosys which was down over 4% reacting to the disappointing Q2 results.

At 9:56 am, Sensex was up 33 points at 18691 and Nifty was up 20 points at 5461. Major gainers were Reliance, Rel Comm, Rel Energy, M&M, Maruti, Dr Reddy's, ACC, L&T, HDFC Bank.

Infosys came out with its Q2 FY08 result which is very much in line with market expectations. It reported Q2 net profit of Rs 1100 crore, up 1.9% on QoQ basis. Its consolidated net sales surged by 8.8% to Rs 4,106 crore versus Rs 3,773 crore (QoQ). The operating profit margin increased to 31.27% from 28.73%

Asian markets were trading firm today: Hong Kong's Hang Seng surged 0.95% or 271.25 points at 28,840.58, Taiwan's Taiwan Weighted advanced 0.63% or 60.61 points at 9,700.44, Singapore's Straits Times gained 1.58% or 60.34 points at 3,874.79, Japan's Nikkei rose 0.20% or 34.76 points at 17,212.65 and South Korea's Seoul Composite was up 0.17% or 3.53 points at 2,044.65.

US markets: The Dow fell 85.84 points, or 0.61%, to 14,078.69 after rising 120 points on Tuesday.

Market cues:

• FIIs net buy USd 483.7 mn in equity on Oct 9
• MFs net sell Rs 341 crore in equity on Oct 9
• NSE F&O Open Int up by Rs 3,667 crore at Rs 90,545 crore
• UPA may give in on N deal; priority to save govt
• Infosys Q2 numbers, IIP data to be released today

F&O cues:

• Stock Futures add 2.2 cr shares in Open Interest
• Stock Options add 1.2 cr shares in Open Interest
• Stock Options Open Interest at Rs 4,644 cr
• Stk Options: Call Open Interest at Rs 3,860 cr, Put Open Interest at Rs 784 cr
• Intra-day trading in Call premiums, Call rollovers seen
• Futures Open Interest up by Rs 2,465 crore, Options Open Interest up by Rs 1,202 crore
• Nifty Futures Open Int unchanged for 3rd day running
• Nifty Open Int Put-Call ratio at 1.39 Vs 1.33
• Nifty Puts add 11.6 lakh shares in Open Interest
• Nifty Calls add 1.4 lakh shares in Open Interest
• Nifty 5300 Put adds 6.2 lakh shares in Open Interest
• Nifty 5400 Put adds 4.8 lakh shares in Open Interest
• Nifty 5500 Put adds 3.5 lakh shares in Open Interest
• Nifty 5600 Call adds 4 lakh shares in Open Interest
• Nifty 5500 Call adds 3.5 lakh shares in Open Interest