Mkts slide further; RIL, Bharti, SAIL, BHEL, TCS, L&T drag

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?

Mkts erase early gains, turn choppy; RIL, BHEL, Bharti dip

At 12:42 hours IST, the markets gave up their early gains and turned choppy. Capital Goods, technology, FMCG and select oil & gas stocks were under pressure. However, buying in power, realty, select banking and metal stocks along with ONGC capped the losses a bit.

The Nifty was up just 7 points, to 4,476 and the Sensex rose 39 points, to 15,102. The Nifty July future was trading flat. The broader indices were up 0.5-1%. About 739 shares advanced while 464 shares declined on the NSE.

In the largecaps, Reliance Industries, Infosys, L&T, ITC, Bharti Airtel, BHEL, TCS and SAIL were losers. However, ONGC, DLF, ICICI Bank, Sterlite Industries, Jindal Steel, HDFC and NTPC were gainers.

IDFC, Reliance Capital, Tata Steel, ICICI Bank, DLF, IDFC and Suzlon Energy were most active shares on the bourses.

Top percentage gainers - Sunteck Realty, Indiabulls Securities, Valiant Communication, Rane Madras, Kajaria Ceramic, GKW and Hitech Plast were up 11-20%.

Top percentage losers - Sika Interplant, NHN Corporation, Gloster Jute, Money Matters, Chemfab Alkalie, Tamil Newsprint, Datamatics Global, Bharat Electronics, India Cements and Banco Products were down 5.5-10%.

Mkts extend rally; realty, banks, metal, oil exploration up

At 11:26 hours IST, the markets extended the rally on the back of upsurge in shares of banking, oil & gas exploration, realty, power, cement, metal and select capital goods stocks. The Nifty surpassed the 4550 level and was hovering around the same level.

The Nifty surged 75 points, to 4,544 and the Sensex gained 263 points at 15,326. The Nifty July future was trading with 7-10 points premium. The broader indices gained 1.8-2%.

The market breadth was in favour of advances; about 1826 shares advanced while 850 shares declined. Nearly 487 shares were unchanged.

All the sectoral indices were in the green. The BSE Realty Index shot up 4.5%. Bank, Metal and Oil & Gas indices were up 2-2.5%. Auto, Power, FMCG, Capital Goods and IT indices rose 1-1.5%.

In the realty space, HDIL, DLF, Omaxe, Parsvnath, Unitech and Indiabulls Real were up 3.9-5.7%.

Banking stocks like ICICI Bank was up 3.82%. Bank of Baroda, Kotak Mahindra, Axis Bank, PNB and SBI gained 1.7-3%. HDFC Bank was up just 0.2%.

In the metal space, Sterlite Industries surged 5%. NMDC, Hindalco, Jindal Steel, Tata Steel, Jindal Saw and JSW Steel were up 1-3.5%.

In the oil & gas space, ONGC shot up 4.83%. GAIL, Reliance Petroleum and Reliance Industries moved up 1.5-2%.

In the midcap segment, Sunteck Realty locked at 20% upper circuit. Aurobindo Pharma, ING Vysya Bank, Deccan Chronicle and Welspun Gujarat were up 6-8.7%.

In the smallcap space, BL Kashyap, Indiabulls Securities, Balkrishna Industries, Kemrock Industries and Swan Mills went up 10-13.5%.

Nifty holds 4500; ONGC, DLF, Sterlite, ICICI Bank, L&T lead

At 10:41 hours IST, the benchmark indices bounced back. Buying in metal, financial, realty, cement, select infrastructure and technology stocks was helping the Nifty to stay above the 4500 mark.

The Nifty was up 48 points, to 4,517 and the Sensex rose 168 points, to 15,231. The Nifty July future was trading with 3 points premium.

Laurence Balanco of CLSA said, "The roadmap of projecting new highs above previous peak of 4,703 is back on track. The current advance should take the Nifty past 4703, and then to 5,473. Resistance is seen at 4620 and 4703 levels."

Top gainers - DLF was at Rs 360, up 4.80%; ONGC was at Rs 1,080, up 3.37%; Sterlite Industries was at Rs 615.60, up 3.31%; Tata Motors was at Rs 336.50, up 2.86%; Hindalco was at Rs 91.05, up 2.82%; Reliance Capital was at Rs 905.05, up 4.07% and Suzlon Energy was at Rs 94.20, up 3.52%.

The market breadth was positive, as the broader indices were outperforming the benchmark indices, gained 1.5% each. About 902 shares advanced while 195 shares declined on the NSE.

On the sectoral front, the BSE Realty Index rose 3.8%. Metal, Bank, Auto, Oil & Gas and Capital Goods indices were up 1-1.8%.

Reliance Industries, Infosys, ICICI Bank, L&T, HDFC, ONGC, DLF and Sterlite Industries were the leading contributors.

However, ITC, Bharti, Maruti and Cipla were the only losers.

Crisil downgraded rating on IDFC's debt to AA+ from AAA. The stock tanked 6%.

Mkts positive in early trade; financials, realty gain

The markets opened higher following positive global cues and on the back of buying in infrastructure and financial stocks.

At 9:56 am, the Nifty rose 24 points, to 4,493 and the Sensex went up 81 points, to 15,143. The CNX Midcap gained 27 points at 5,658 and the BSE Smallcap Index rose 45 points, to 5,883. About 525 shares advanced while 92 shares declined on the NSE.

Among the frontliners, Sun Pharma, Reliance Infrastructure, Ranbaxy, Suzlo, Sterlite, Idea, HCL Tech, HDFC (ahead of numbers), PNB, Infosys, Reliance Capital, ICICI Bank, BHEL, Reliance Power and DLF were the gainers.

Wipro was flat. The company's Q1 consolidated net sales declined to Rs 6,289.1 crore from Rs 6,482.1 crore (QoQ) and net profit went up a bit by 0.54% to Rs 1,015.5 crore from Rs 1,010 crore (QoQ). (US GAAP)

Dr Reddys Labs gained over 3%. Its Q1 net profit surged 65.2% to Rs 244 crore as against Rs 147.7 crore, YoY. The company's revenues increased 21% to Rs 1,819 crore versus Rs 1,503.8 crore, YoY.

Tata Power raised USD 335 million via GDR (global depositary receipt) issue, which was priced at Rs 1090/share. The stock was up over 1%.

However, Hero Honda, Tata Communication, Bharti Airtel and ITC were the losers.

Midcap space

Binani Cement, Gujarat Sidhee, Heidelberg Cement and Shree Digivijay were up over 5% on good Q1FY10 earnings.

Deccan Chronicle up 6%, as the company received SEBI nod for buy back. It plans to buy back 3.5 crore shares at maximum Rs 100/share.

ING Vysya bank was up 8% and DCB up 5% post Q1 numbers.

Thermax was down 6%.

Glenmark Pharma was down 2.68%.

Global cues:

Asian markets were trading higher. Shanghai was up 1.9% and Straits Times rose 1.1%. Taiwan Weighted, Hang Seng and Nikkei gained 0.3-0.6%. Kospi was flat. SGX Nifty was up 0.3%.

The US markets gained post Bernanke's comment and strong results. The Dow Jones Industrial Average gained 68 points or 0.78% to 8,916.

The S&P 500 Index rose 3.5 points or 0.36% to 954.6 and hit a fresh 2009 intraday high yesterday. The Nasdaq Composite was up 7 points or 0.36% to 1,916.2 and gained for its 10th straight session, the longest in 12 years.

Commodities:

The Reuters CRB (Commodity Research Bureau) Index was down 0.5%.

August crude oil was down 1.3% at $64.8/barrel. It expired yesterday.

September Crude Oil ended at $65.57/bbl, after hitting a high of $66.68/bbl.

Baltic Dry Index was down 1.6%.

Copper was up 2% at $5400/tonne.

Lead was up 4%. Nickel was down 2.5%. Tin and Zinc fell 1.5%.

Market cues:

-FIIs net buy USD 146 million in cash on July 20
-Total F&O Open Int up by Rs 1194 cr at Rs 86126 crore
-FIIs net sell Rs 251 crore in cash on July 21 (prov)
-DIIs net sell Rs 7 crore in cash on July 21 (prov)
-FIIs net sell Rs 514 crore in F&O on July 21

F&O cues:

-Total Futures Open Interest up by Rs 232 crore and Total Options Open Interest up by Rs 962 crore
-Nifty down 0.7%, Futures Open Interest up 1%
-Nifty July Futures trading at a 4-pt premium versus 8-pt premium
-Nifty IVs at 32-37% levels
-Nifty Open Interest Put Call Ratio remains at 1.23
-Nifty Calls add 6.3 lakh shares in Open Interest
-Nifty Puts add 9.6 lakh shares in Open Interest
-Nifty 4400 Put adds 7.4 lakh shares
-Nifty 4300 Put adds 4.6 lakh shares
-Nifty 4700 Call adds 3.6 lakh shares
-Nifty 4500 Call adds 3.5 lakh shares
-Nifty 4200 Put sheds 4 lakh shares
-Stock Futures add 1.5 cr shares in Open Interest