Mkts weak amid volatility; realty, auto, power slip

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 open positive; metals, infra, oil & gas exploration up

The markets opened higher on the back of buying in shares of metal, realty, oil & gas exploration (as crude prices increased to USD 73/bbl) and select infrastructure companies.

At 9:56 am, the Sensex rose 106 points, to 14,891 and the Nifty gained 29 points at 4,419. The CNX Midcap 100 went up 53 points, to 5,624.

Among the frontliners, Sterlite, Reliance Power, Unitech, Suzlon, Idea Cellular, Cairn India, Nalco, Power Grid, Ranbaxy Labs, Tata Power, Tata Steel, Reliance Capital and Ambuja Cements were the gainers. However, BPCL, Cipla, HCL Tech and Wipro were mildly subdued.

Midcap space

United Spirits (USL) fell 2.5%. About 52.6 lakh USL shares changed hands on BSE at Rs 900/share (5.2% of equity). This block deal size stood Rs 473 crore. Shaw Wallace sold 5.2% stake in USL (Treasury Stock). In the second block deal, 72 lakh shares changed on NSE at Rs 886.30/share.

HCC shot up 5%, as the company's board approved Rs 1500 crore QIP (qualified institutional placement) issue and Bandra-Worli Sea will open today.

GMR Infra fell 4%, as the company struggled while raising money through its QIP.

Lanco Infratech gained over 3% as High court ruled in favour of the company in Lanco-PTC case.

Adlabs, Praj Industries and GVK Power were other gainers. However, Gujarat Alkalies and JM Financial were down post their numbers.

Global cues:

Asian markets were trading higher. Nikkei was up 1.9% and Straits Times gained 1%. Shanghai, Hang Seng, Jakarta, Kospi and Taiwan were flat in trade.

The US markets gained as oil gained 3.5%. Madoff sentenced to 150 years in prison.

The Dow Jones Industrial Average gained 91 points or 1% at 8,529. The S&P 500 was up 8.3 points or 0.91% at 927.2 and the Nasdaq Composite rose 6 points or 0.32% to 1,844. No major economic news was released in the US Market.

Commodities

Crude Nymex August gained 3.4% at $71.5 a barrel. It surged 44% last quarter.

Crude gained after Nigerian militants shut a field operated by Royal Dutch Shell Plc.

Copper was up 1.3%, at 2-week highs.

The Baltic Dry Index was up 0.8%.

Gold declined $0.40 at $940.6/ounce.

Market cues:

-Total F&O Open Int up by Rs 2,172 crore to Rs 56,464 crore
-FIIs net buy Rs 292 crore in cash market on June 29 (prov)
-DIIs net buy Rs 143 crore in cash market on June 29 (prov)
-FIIs net sell Rs 69 crore in F&O

F&O cues:

-Total Futures Open Int up by Rs 339 crore, Total Options Open Int up by Rs 1,833 crore
-Nifty up 0.35%, Nifty Futures Open Int down by 1.2%
-Nifty Put Call Ratio at 0.9 versus 0.94
-Nifty Calls add 22 lakh shares in Open Int, Nifty Puts add 11 lakh shares in Open Int
-Nifty 4600 Call adds 5.4 lakh shares in Open Int
-Nifty 4800 Call adds 4 lakh shares in Open Int
-Nifty 4400 Call adds 2.8 lakh shares in Open Int
-Nifty 4700 Call adds 2.3 lakh shares in Open Int
-Nifty 3800 Put adds 2 lakh shares in Open Int
-Stock Futures add 2.6 cr shares in Open Int