Modest start for Nifty on Monday morning; DLF, RCom dip

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It was a modest start for Nifty in the opening bell. The Greek vote is done so our market will now react to stock specific news this week. All eyes will be on India's largest public sector bank SBI quarterly results.

The Sensex was up 15.56 points or 0.09% at 17764.25, and the Nifty was down 4.20 points or 0.08% at 5377.40. About 675 shares advanced, 515 shares declined, and 2208 shares remain unchanged.

The Greek government has approved the austerity bill. A scene of violence and chaos gripped Athens as protest against austerity measures turned ugly. The move sets out 3.3 billion euro in job, pension and wage cuts this year.

In the largecap space, buying was seen in Sun Pharma, Coal India, Mahindra and Mahindra, Hero Motocorp and ONGC. DLF, SBI, Tata Power, Bharti Airtel and Wipro were top losers in the Sensex.

Reliance Communication disappointed the street with profits coming in below estimates at Rs 186 crore. DLF too sees a big slip in profit. Suzlon slips 7% as its losses expand in Q3 to nearly Rs 290 crore. The company revises its guidance lower.

Top gainers on the BSE Midcap: Motherson Sumi, Bajaj Electricals, Madras Cements, Info Edge and IFCI were up 3-7%.

Top losers on the BSE Midcap: Suzlon Energy, Pantaloon Retail, DB Realty, Birla Corp and India Securities were down 2-8%.

Top gainers on the BSE Smallcap: Honda Siel, Jamna Auto, Minda Industries, Jindal Worldwid and Numeric Powee were up 10-18%.

Top losers on the BSE Smallcap: Jagatjit Ind, Lovable Lingerie, Garden Silk Mills, Money Matters and BharatiShipyard were down 6-10%.  

Asian markets were trading firm.

Market cues:
Total Turnover in F&O segment at Rs 1.37 lakh crore versus Rs 1.12 lakh crore
SBI, Coal India and SAIL results today

F&O cues:
Stock Futures Open Int adds 1.11 crore shares in Open Int
Nifty future sheds 10 lakh shares in OI
India VIX closed at 23.83 up by 2.27%
ABAN Offshore & ABG Shipyard is in F&O Ban
Nifty PCR fell to 1.41 from 1.45
Total Put adds 4.8 lakh shares, call adds 19.6 lakh shares
Nifty 5500 Call, 5200 Put and 5300 Put seeing highest Total OI
5500 call saw selling; adds 7.47 lakh shares in OI (12%) prem down 31.5% ((buying converts to selling))
5400 put saw selling; adds 5.15 lakh shares in OI (12.2%) prem down 20%
5600 call saw selling; adds 5.03 lakh shares in OI (13.6%) prem down 38%
5700 call saw selling; adds 4.43 lakh shares in OI (18.8%) prem down 41.3%
5000 put and 5200 call continue to shed shares in OI