Mkts close at new-2008 lows; realty, banks, auto plunge

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Markets @ 14:45 am : Mkts choppy; auto, realty, metal stocks down

Markets have given up early trade gains and trading flat with some choppiness as selling is seen in realty, auto, metal and power stocks while buying in FMCG, pharma and select technology stocks. Nifty lost nearly 60 points and Sensex over 180 points from day's high.

At 11:45 am, the Sensex was up 58 points at 12,734 while Nifty down 7.7 points at 3,853. Nifty July Futures was trading at 16 points discount. BSE Midcap and Small Cap indices lost over 0.8% each.

Daryl Guppy, Founder and Director of guppytraders.com sees immediate support for Nifty at 3600; below that it will be at 2900. According to him, we will witness a strong bear market if Nifty fails to hold above 3600.

Guppy sees support for Sensex at 12200-12380. He feels that Sensex could fall to 10000 levels, if 12200 fails to hold.

Market breadth is weak; about 1245 shares have advanced while 1637 shares declined. Nearly 265 shares are unchanged.

Top losers are Tata Motors, DLF, M&M, Unitech and Cairn India while gainers - Ranbaxy Labs, ITC, Bharti Airtel and BPCL.

BSE Realty, Auto and Metal indices lost 2-3%. Power fell 0.9%. However, FMCG gained 1.5% and Healthcare up 0.6%.

Most active counters on the bourses are Reliance Capital, Ranbaxy Labs and Reliance Industries.

Thermax went up around 2% as the company has bagged order worth Rs 820 crore.

BGR Energy has received EPC contract worth Rs 4,900 crore from Rajasthan Rajya Vidyut Utpadan Nigam for 2 x 600 MW Kalisindh Thermal Power Project. Stock surged over 10%.

Markets @ 10:52 am : Mkts trade higher; Ranbaxy, Rel Infra, JP Asso top stars

Markets are trading with good gain as buying is seen in capital goods, banking, oil, telecom, realty, power, metal and technology stocks. However, Auto stocks are under selling pressure. Market breadth is mixed; about 1503 shares have advanced while 1399 shares declined. Nearly 245 shares are unchanged.

Reliance Industries, L&T, HDFC, ICICI Bank, Bharti Airtel, BHEL, ONGC and Reliance Comm are being supportive for both indices.

At 10:52 am, the Sensex was up 243 points at 12,920 and Nifty up 54 points at 3,914. Nifty July Futures was trading at 20 points discount. BSE Midcap and Small Cap indices were up around 0.9% each.

Top gainers are Ranbaxy Labs, Reliance Infra, Jaiprakash Associates and BPCL while Tata Motors, M&M, Grasim, Cairn India and Nalco losers.

Capital Goods Index gained 1.5% due to buying in Walchandnagar, Triveni Engg, Alstom Projects, Punj Lloyd, BHEL and L&T.

Oil & Gas stocks like BPCL, HPCL, Petronet LNG, Essar Oil, Reliance Ind, IOC and ONGC jumped up. Index rose 1.6%.

Telecom stocks like Bharti Airtel, Reliance Comm, TataTeleservice, Tata Comm, MTNL and Idea Cellular also moved up.

Bankex surged 1.23% as buying is seen in Yes Bank, IndusInd Bank, ICICI Bank, SBI, Union Bank, HDFC Bank, Allahabad Bank and Bank of India.

Power stocks have charged up, which include Reliance Infra, Lanco Infratech, Neyveli Lignite, GVK Power, Reliance Power, Suzlon Energy and Tata Power. Index rose 1%.

IT Index Climbed up by 1% due to buying in Patni Computer, HCL Tech, Satyam, Infosys and Tech Mahindra.

FMCG stocks like United Spirits, ITC, Godrej Consumer, Ruchi Soya, Tata Tea and Marico are trading higher. Index rose 1.5%.

Metal stocks namely Hindalco, Ispat Industries, Tata Steel, SAIL and Jindal Steel are also supportive. Index gained 0.64%.

However, Auto index plunged over 1% due to selling in Bajaj Auto, Punj Tractors, Ashok Leyland, Tata Motors, Cummins, M&M, Hero Honda and Maruti Suzuki.

Markets @ 9:56 am : Mkts rebound; pharma, cap goods, realty, IT stks up

Markets have rebounded in opening trade after yesterday's steep fall as crude oil price decline sharply and Asian markets recovered. Buying is seen in capital goods, realty, technology, select oil, banking and metal stocks.

At 9:56 am, the Sensex was up 140 points at 12,815 and Nifty up 28 points at 3,889. CNX Midcap was up 42 points at 5,069.

Amongst frontliners, BHEL, SAIL, JP Associates, Ranbaxy Labs, Tata Steel, Suzlon Energy, TCS, Satyam, Infosys, DLF, BPCL, Reliance Ind and HCL Tech have gained while ITC, HUL and ONGC, ABB, M&M and Ambuja Cements lost ground.

Ranbaxy Labs went up over 8% in early trade after clarification from management on USFDA issue.

Asian markets were trading mixed. Hang Seng was up 0.6%, Jakarta 1.2%, Nikkei 0.09%, Straits Times 0.3% while Taiwan fell 0.7% and Shanghai down 2.4%.

Crude has declined by $ 10 to $ 135 per barrel on the NYMEX yesterday.

US markets closed lower following a zig-zag day marked by a plunge in oil and a barrage of statements from policy makers and a host of economic data. The Dow declined 92.65 points, or 0.84%, to 10,962.54. The S&P's 500 index lost 13.39 points, or 1.09%, to 1,214.91, while the Nasdaq gained 2.84 points, or 0.13%, to 2,215.71.

Market cues:

• FIIs net sell $52.6 mn in equity
• NSE F&O Open Interest down by Rs 973 cr at Rs 69,958 cr

F&O cues:

• Nifty down 4.4%; Open Interest up by 4%
• Futures Open Interest down by Rs 987 cr and Options Open Interest up by Rs 13 cr
• Nifty Futures at 32 pts Vs 12.5 pts a day ago
• Nifty Futures Open Interest up by 14.6 lakh shares
• Stock Futures add 16 lakh shares in Open Interest
• Bank Nifty adds 20% in Open Interest
• Ranbaxy adds 15% in Open Interest, added 30% a day ago
• Nifty Open Interest PCR at 1.01 Vs 1.22
• Put writers unwind positions to lessen their losses
• Nifty Puts shed 33.8 lakh shares in Open Interest
• Nifty Calls add 28.3 lakh shares in Open Interest
• Nifty 4000 Put sheds 17.8 lakh shares in Open Interest
• Nifty 3900 Put sheds 8 lakh shares in Open Interest
• Nifty 3800 Put sheds 5.5 lakh shares in Open Interest
• Nifty 4100 Put sheds 2.4 lakh shares in Open Interest
• Nifty 4000 Call adds 8.6 lakh shares in Open Interest
• Nifty 3900 Call adds 3.8 lakh shares in Open Interest