Mkts choppy; NTPC, Bharti, RIL, BHEL, SAIL, Wipro dip

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Benchmark indices are witnessing volatility owing to a tussle between bulls and bears. On the one side, NTPC, Reliance Industries, Bharti, BHEL, SAIL, Wipro, TCS, Ranbaxy, Idea, Siemens, Sterlite and Cipla are under pressure. On the other side, buying is seen in banking, realty, auto, select metal, power stocks as well as in ONGC and Infosys.

The Sensex went up 37 points to 9,294 while the Nifty slipped 8.75 points at 2,840. However, BSE Midcap and Small cap indices went up 0.5% each.

Market breadth is positive; about 1123 shares have advanced while 854 shares declined. Nearly 994 shares are unchanged.

BSE Realty, Bankex and Auto indices rose 1.2-3%.

Markets @ 9:56 am : Mkts trading higher amid volatility; Rel Power top star

The benchmark indices are trading choppy in early trade. The indices are trying hard to stay on the higher side, despite supportive global cues.

Among the frontliners, Reliance Power (bags 4000 MW Tilaya project), SBI, Zee Entertainment, Tata Motors (its JLR brand may get bigger part of auto package in UK), ICICI Bank, L&T, Tata Steel, DLF, Unitech, Nalco, Reliance Communication, HDFC, Tata Communication and Suzlon are gainers in early trade.

At 9:56 am, the Sensex went up 55 points at 9,313 and Nifty rose 5 points at  2,855. CNX Midcap gained 28 points at 3,378.

However, losers are GAIL, Wipro, NTPC, ONGC (due to weak numbers), BPCL (as government reduced petrol, diesel and LPG prices), Bharti Airtel.

Asian markets are trading higher. Hang Seng surged nearly 6%. Kospi and Nikkei rose 0.8-1.15%. Straits Times gained marginally. Shanghai and Taiwan shut today.

Fed kept fed interest rates unchanged at 0-0.25%. It said economy remains weak and did not expect any economic recovery to occur until later this year.

US House of Representatives passed USD 819 billion economic recovery package in 244-188 vote and senate is likely to take bill next week. This economic package news came post US markets closed.

Dow Jones ended up 201 points or 2.5% at 8,375 and Nasdaq ended up 53.5 points or 3.5% at 1,558. S&P 500 was up 28.4 points or 3.3% at 875. US financial sector surged over 10%.

Crude oil closed 1% up at $42/bbl and it was trading down 2.5% in the wake of a larger-than-expected build in weekly inventories.

Gold was down nearly 1.2% at around $888/ounce.

Market cues:

FIIs net sell USD 59.5 million in equity on January 27

MFs net buy Rs 27.3 crore in equity on January 27

NSE F&O Open Int up Rs 1,027 crore to Rs 57,681 crore

IMF cuts 2009 global growth to 0.5% versus 2.2% in Nov

F&O cues:

Marketwide rollover at 59% versus 55% during last series

Nifty rollover at 57% versus 53% during last series

Nifty up 2.8%, Fut Open Int down 2% (8 lakh shares)

Total Fut up Rs 428 cr in Open Int, Total Options add Rs 599 cr in Open Int

Nifty Feb Fut discount unchanged at 7 pts

Total Stock Fut add 7.5 lakh shares in Open Int

Nifty Open Int Put-Call ratio up from 0.86 to 0.93

Nifty Calls shed 4.5 lakh shares in Open Int, Puts add 24 lakh shares in Open Int

Nifty Feb 2700 Put adds 6.8 lakh shares in Open Int

Nifty Feb 2800 Put adds 6.2 lakh shares in Open Int

Nifty Feb 2800 Call adds 4.4 lakh shares in Open Int

Nifty Feb 2900 Put adds 3.5 lakh shares in Open Int

Auto, cement and capital goods stocks show strong rollovers