Mkts flat; Infy, Wipro, RIL, ICICI, HDFC, TCS weak

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The markets are witnessing volatility; as buying is seen in DLF, ONGC, Unitech, L&T, SBI, Reliance Communication, Tata Motors, Tata Steel, SAIL and Reliance Infrastructure. However, selling continues in Wipro, TCS, Infosys, ICICI Bank, Reliance Industries, HDFC, Sterlite Industries, Maruti and Bharti.

The Sensex fell 34 points to 10,066 and the Nifty lost just 1.25 points and is at 3,076, at 10:42 hours IST. The Sensex rose and the BSE Midcap and Small Cap indices gained 1.5-2%.

Market breadth is positive due to broader indices; about 1801 shares have advanced while 984 shares have declined. Nearly 416 shares remian unchanged.

Maytas Infra locked at 10% lower circuit. There are pending sell orders of 41,553 shares, with no buyers available. This has been the fourth lower circuit on the stock; earlier there had been 20% lower circuit till Friday for three days.

Among the midcap stocks; Consolidated Construction, PSL, Pidilite Ind, Dishman Pharma and Puravankara Projects rose 10-19%.

In the small cap space, Venus Remedies, Accel Frontline, Nalwa Sons, Mahindra Forg and Murli went up 11-16.5%.

Markets @ 9:56 am : Mkts quiet; SBI, DLF, Unitech, L&T, ONGC up

The markets are quiet in early trade on account of some volatility. Reliance Industries, Idea, Reliance Infrastructure, HDFC Bank, Hero Honda, BPCL, Infosys, Satyam, HCL Tech, TCS, ICICI Bank, and Bharti Airtel are seeing selling pressure. However, Unitech, M&M, Tata Motors, Cairn, Suzlon Energy, DLF, SBI, Tata Steel, HDFC, NTPC, SAIL, ONGC, and L&T are supporting the markets.

At 9:56 am, the Sensex rose just 1.17 points to 10,101 and the Nifty gained 3.10 points at 3,080. CNX Midcap went up 0.6% to 3,790. 

There are reports that SEBI asked Pyramid Saimira's promoter to make open offer at Rs 250 or more. The stock jumped nearly 7%.

India lifted ban on cement exports. ACC, Ambuja Cements, Shree Cements, UltraTech Cement and India Cements gained nearly 0.5-3%.

Fortis Healthcare board meet on December 24 to mull rights issue. The stock jumped over 2%.

Bajaj Hindusthan shot up 3.5%, despite reporting loss in fourth quarter. The company's net loss was at Rs 87.5 crore versus profit of Rs 85.2 crore and net sales were at Rs 463 crore versus Rs 430 crore.

Asian markets are trading weak barring Nikkei. Shanghai, Hang Seng and Jakarta lost 1-1.8%. Taiwan fell 0.9%. Straits Times and Kospi slipped marginally. However, Nikkei gained nearly 1.5%.

Nymex January crude declined 27% last week and expired at $33.87 to a barrel on Friday. Nymex February crude gained 2% on suppport from OPEC cut. It is currently trading at USD 43/bbl.

Russia has cut 3,50,000 barrels in November and will cut 3,20,000 bbl from January 1. US economic stimulus plan  and CFTC reports of increase in net long positions on Nymex, all these are supporting the prices.
 
US markets have closed mixed, losing early gains driven by the USD 17.5 billion auto bailout plan. The Dow Iones Industrial Average slipped 26 points to end at 8,579. But the S&P 500 index rose 3 points to close at 889 and the Nasdaq added 12 points to close at 1,564.

Banks suffered after Standard & Poor's cut its rating on 12 major financial institutions in the US and Europe.

Market cues:

SBI, HDFC cut lending, deposit rates

Government may table insurance bill today, discuss raising FDI ceiling from 26% to 49%

FIIs net sell $13.4 milion in equity on December 18

MFs net sell Rs 181.2 cr in equity on December 18

F&O Open Interest up by Rs 1,139 crore to Rs 63,112 crore

F&O cues:

Nifty up 0.5%, Nifty Futures Open Int up 0.6%; Nifty rollover at 31% versus 23.2% a day ago

Stock Futures add 42 lakh shares in Open Int

Nifty Dec Futures trading at 5 pts premium versus 16 pts premium a day ago

Nifty Open Int PCR up from 1.47 to 1.48

Nifty Put adds 16.8 lakh shares, Calls add 7 lakh shares in Open Int

3200 Call adds 7.15 lakh shares in Open Int

2900 Put adds 4.7 lakh shares in Open Int

3100 Put adds 3.5 lakh shares in Open Int

Jan 3000 Put adds 2.6 lakh shares in Open Int

Jan 3300 Call adds 2 lakh shares in Open Int