Mkts ranged; banking, ONGC, TCS, L&T, Rel Infra dip

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

The benchmark indices are a bit choppy in trade and are moving in a range. Frontliners like Reliance Industries, Bharti, BHEL, NTPC, Maruti, SAIL, BPCL, ACC, Sterlite, DLF, Unitech, Tata Power and Tata Motors are supporting the markets.

However, HDFC, ICICI Bank, SBI, TCS, M&M, HDFC Bank, Reliance Infrastructure, Hero Honda and Tata Communication are under pressure. ONGC & L&T are seeing some volatility.

The Sensex was trading at 9,042, up 7.5 points and the Nifty was at 2,783, up 12 points, at 3 hours IST. BSE Midcap and Small cap indices are flat.

Market breadth is in favour of declines; about 1197 shares have advanced while 1627 shares declined. Nearly 200 shares are unchanged.

European markets are trading lower. FTSE went down 42 points, to 3,991. CAC was trading at 2,851, down 23 points and DAX was at 4,162, down 54 points.

Markets @ 2:20 pm : Mkts trading higher amid volatility; oil & gas supports

The benchmark indices are trading higher. Telecom, OMCs, oil & gas exploration, select metal, technology, power and cement stocks are supporting the markets. But the volatility is still lingering in the markets. However, selling continues in banking stocks and in stocks like L&T, Reliance Infrastructure and M&M.

The Nifty is hovering around 2800 mark and was trading at 2805, up 34 points, at 2:20 hours IST. The Sensex was trading at 9,109, up 74 points. However, BSE Midcap and Small cap indices are flat.

Turnover is on the higher side compared to previous day; F&O turnover stood at Rs 33,000 crore and Rs 41,000 crore in total. The discount of Nifty futures has trimmed down a bit to 14 points from 16 points.

Nifty February Futures has added about 26 lakh shares in open interest (OI) with turnover of Rs 7,281 crore, which is better than yesterday's turnover of Rs 6,000 crore at this time.

Among oil & gas stocks, Reliance Industries jumps nearly 4% and ONGC up 0.5%. Shares of oil marketing companies like BPCL and HPCL gained over 3.4%. IOC rose nearly 2%.

Realty Index shot up over 3%, as DLF, Indiabulls Real, HDIL and Unitech went up 2.5-6%.

In the power space, Power Grid Corp, GMR Infra, Suzlon Energy, NTPC, Torrent Power, Reliance Power and Tata Power were up 1-3.7%. Power Index gained 1.4%. However, Reliance Infrastructure went down 1%.

Metal Index gained over 1%, as Sesa Goa, Sterlite Ind, NALCO, SAIL and Tata Steel rose 1-2.9%.

Market breadth is still weak; about 1242 shares have advanced while 1575 shares declined. Nearly 207 shares are unchanged.

European markets are trading marginally higher. FTSE went up 16 points, to 4,050. CAC gained 14 points at 2,889 and DAX up 12 points, to 4,228.

Markets @ 1:16 pm : Mkts trading choppy; ONGC, Bharti, RIL, NTPC gain

The markets are seeing some buying interest despite trading choppy. Reliance Industries, ONGC, Bharti Airtel, NTPC, DLF, BHEL, BPCL, Sterlite, Idea, ITC, Infosys, Wipro, TCS, Maruti, Reliance Communications, Tata Motors, and ACC are supporting the markets.

However, selling still continues in HDFC, ICICI Bank, SBI, HUL, Reliance Infrastructure, Hero Honda, M&M, L&T, HDFC Bank and Hindalco. The Nifty has tested 2800 mark.

The Sensex was trading at 9,072, up 37 points and the Nifty was at 2,796, up 25 points, at 1:16 hours IST. However, BSE Midcap and Small Cap are flat.

Market breadth is weak due to downtrend in broader indices; about 1229 shares have advanced while 1579 shares declined. Nearly 214 shares are unchanged.

ITI locked at 10% upper circuit, as the government will give Rs 125 crore interest free loan to the company.

Areva T&D jumped 2.5%, as the company has bagged order worth Rs 101 crore for Tamil Nadu Power Project.

Markets @ 11:40 am : Mkts see-saw; SBI, HDFC, HDFC Bank, ICICI Bank, PNB dip

The benchmark indices are trading marginally in negative terrain amid volatility, as sell-off is seen in banking, capital goods, select power and metal stocks and in stocks like DLF, Cairn India and Infosys, Ambuja Cements, Maruti and Hero Honda. However, buying is seen in oil & gas and telecom stocks.

The Sensex was trading at 8,969, down 65 points and the Nifty was at 2,762, down 8 points, at 11:40 hours IST. Broader indices are following the same trend; BSE Midcap and Small cap indices fell 0.7% each.

Market breadth is weak; about 1065 shares have advanced while 1759 shares declined. Nearly 198 shares are unchanged.

ICICI Bank, SBI, HDFC Bank, PNB and HDFC are extremely under pressure, due to which BSE Bankex plunged 2.8%.

BHEL, L&T, SAIL, Maruti, Hindalco, Tata Steel and Ambuja Cements are among other frontline losers. However, buying is seen in Reliance Industries, ONGC, Bharti, BPCL, Idea, Reliance Communication, Cipla, Tata Motors, Tata Power and Wipro.

On the global front, Asian markets are trading lower. Shanghai fell nearly 3%. Hang Seng, Nikkei and Kospi lost 1.14-1.6%. Straits Times and Taiwan are flat.

Markets @ 10:44 am : Mkts see volatility; banking, BHEL, DLF weak

The benchmark indices are witnessing volatility. On one side shares of oil & gas, telecom and technology stocks are helping the markets. However, on the other side, banking, capital goods and real estate stocks are under pressure. Broader indices are quiet in trade.

Our markets did not see any major fall like other global markets did. Short covering is supporting the markets at lower levels.

The Sensex was trading at 9,048, up 13 points and the Nifty was at 2,782, up 12 points, at 10:44 hours IST. BSE Midcap and Small cap indices are flat.

Among frontliners, Reliance Industries, Bharti, NTPC, ITC, Reliance Communication, SAIL, ONGC, Infosys, Wipro and TCS are on the buyers' radar while HDFC, ICICI Bank, HUL, SBI, BHEL, DLF, HDFC Bank, Ambuja Cements, PNB, M&M and Hindalco are under pressure.

Market breadth is in favour of declines; about 1158 shares have advanced while 1650 shares declined. Nearly 213 shares are unchanged.

Among midcap stocks, Alstom Projects, Dalmia Cement and ICI India went up 3.4-6%. Maytas Infra locked at 5% upper circuit, as government moved company law board to supersede Maytas Infra and Maytas Properties boards. KEC International gained 3.82%, as the company has bagged order worth Rs 365 crore.

However, Spice Communication, Lakshmi Energy, Anant Raj Ind, Geodesic and Kirloskar Brothers fell 4-6.5%.

In the small cap space, Swaraj Engines gained 19.40%. Hatsun Agro, Suashish Diamon, Infomedia 18 and Sulzer rose 6-10%. However, Garden Silk Mills, ABG Infralogistics, RSWM, Temptation Foods and Apollo Sindhoor fell 6.5-11%.

Markets @ 9:56 am : Mkts choppy; ONGC, RIL, telecom, tech gain

The benchmark indices have slipped in early trade and extended losses further for the third day in a row but immediately recovered from the lows of the day and trading with choppy trade. Short covering, after two days of severe fall, is helping the markets at lower levels.

Our markets did not fall in sync with global markets, which tumbled badly.

At 9:56 am, the Sensex was trading at 9,011 down 23 points and the Nifty was at 2,768 down 2 points. CNX Midcap fell 29 points, to 3,282.

Among frontliners, PNB, ICICI Bank, Tata Steel, DLF, Hindalco, Wipro, HDFC, Unitech, Maruti, M&M, NTPC, L&T, SBI, Tata Communication and SAIL are losers. However, Idea, BPCL, Ambuja Cements, TCS and Reliance Industries are supporting the benchmark indices.

Asian markets are trading lower. Shanghai plunged 2.73%. Hang Seng, Nikkei and Kospi fell 1.15-1.4%. Straits Times and Taiwan lost marginally.

US markets tumbled to a three-month low, extending a global slump, as a record contraction in New York manufacturing spurred concern that the government's stimulus package won't be enough to curb the deepening recession.

The Dow Jones Industrial Average closed at 7,552.60, down 297.81 points, or 3.79%. The Nasdaq composite index fell 63.70 points, or 4.15%, to close at 1,470.66 (Also See - Global Indices)

The S&P 500 fell 37.67 points, or 4.6%, to finish at 789.17, just above its 752.44 close on Nov. 20, when it ended at its lowest level since November of 2002.

Oil prices fell more than 7% to below 35 dollars a barrel as grim economic indicators battered markets and raised concerns about slumping demand. In after hours trading, NYMEX crude is at USD 34.90 a barrel, down USD 0.03.

Copper prices tumbled the most in more than three months on signs that slumping global growth is slashing demand for the metal.

Gold jumped to more than USD 975 an ounce, the highest price since July 2008, on speculation that low interest rates and government spending will devalue currencies, boosting the appeal of precious metals as a store of value.

Market cues:

Dow hits Nov closing low; US markets slide nearly 4%

Crude ends down over 7%, Gold up over 3% at around $975/ounce

FIIs net sell USD 70.3 million in equity on February 16

MFs net sell Rs 53 crore in equity on February 16

NSE F&O Open Int up by Rs 255 crore to Rs 55,775 crore

F&O cues:

Nifty rollover at 15%

Nifty down 2.8%; Feb Open Int down by 20.2 lakh shares or 7%

Total Fut Open Int down by Rs 519 crore and Total Options Open Int up by Rs 775 crore

Nifty Feb Futures discount at 16.5 pts versus 18 pts

Stock Futures shed 3.3 cr shares in the month of Feb, net add 27 lakh shares for Feb, Mar & Apr

Nifty Open Int PCR down from 1.22 to 1.13

Nifty Call add 27 lk shrs in OI; Put shed 3.12 lk shrs in Open Int

Nifty Feb 2800 Put shed 14 lakh shares in Open Int

Nifty Feb 2900 Put shed 5.3 lakh shares in Open Int

Nifty Feb 2500 Put shed 8.2 lakh shares in Open Int

Nifty Feb 2800 Call add 9.5 lakh shares in Open Int

Nifty Mar 2700 Put add 9.4 lakh shares in Open Int

Nifty Mar 3000 Call add 6.2 lakh shares in Open Int

Huge buildup seen in public sector banks, albeit on a small base