Nifty above 4700; Bharti, RCom, L&T, Infy, SBI in green

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Nifty consolidates; RIL, TCS, ITC, NTPC, ONGC, Infy slip

At 10:13 hours IST, the benchmark Nifty was consolidating at current levels as traders looked cautious after steep cut in the last week on European debt worries. Buying was seen in auto, metal, banking, select telecom and power stocks along with HUL, which capped the losses to some extent.

However, selling in oil & gas, technology and capital goods was keeping the markets under pressure and the Nifty below the 4750 level. ITC, NTPC, Tata Power, HDFC, HDFC Bank and DLF were the other losers.

The Sensex was trading at 4739, down 17 points and the Nifty was at 15853, down 62 points. The Nifty February future was trading with 6 points discount.

The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 0.3% and the Smallcap was up 0.9%. About 2057 shares advanced while 619 shares declined on the BSE. Nearly 476 shares were unchanged.

Today's new listing - Jubilant Foodworks was trading at Rs 194.65, up 34.24% over its issue price of Rs 145.

Asian markets were trading mixed; Shanghai, Hang Seng, Nikkei and Kospi slipped 0.2-0.66%. Jakarta lost 2.25%. However, Straits Times and Taiwan gained 0.2-0.33%.

Nifty southbound amid volatility; Jubilant Foodworks zooms

The Nifty started the day on a flat note but immediately slipped into red with some volatility, on the back of profit booking after nearly 40 points rally in special trading session on Saturday. Heavyweights were under pressure.

At 9:02  hours IST, the Sensex was trading at 15843, down 72 points and the Nifty was at 4739, down 17 points. However, the CNX Midcap rose 10 points to 7162, as about 410 shares advanced while 262 shares declined on the NSE.

Among the frontliners, ONGC, HDFC, BHEL, NTPC, Wipro, Infosys, HCL Tech, L&T, ACC, Tata Steel and Reliance Industries were the losers.

However, HUL, Reliance Power, Power Grid, Suzlon Energy, SAIL and SBI were marginally in the green.

Today's new listing - Jubilant Foodworks shot up 32% to Rs 191.5 as against issue price of Rs 145 per share. Its listing was better than last few listings.

Midcap & Smallcap space:

Fame India rose 5% while Inox was flat.

Shree Ashtavinayak fell down 4%, after seeing run-up in last few sessions.

Hotel Leela rose 3% and Gujarat Gas was up 3.5%.

Kingfisher Airlines gained 1.5%, as there were reports that the company hired US firm to restructure and improve its operational and financial performance.

Global cues:

Asian markets were mixed in trade. Shanghai, Hang Seng, Nikkei and Kospi fell 0.2-0.5%. However, Straits Times and Taiwan gained 0.2-0.3%.

The US markets recovered sharply from day's low on Friday on speculation of some announcement during the weekend.

Commodity:

The Reuters CRB Index was down 9% YTD.

Nymex crude was down 2.7% at $ 71.19/bbl, at 7-week lows.

Gold fell 4.4% on Friday to low of $1045/ounce, at 3-month low.

Gold was down 2.9% previous week.

Silver fell 3.4% on Friday. It lost 8.5% previous week.

Market cues:

FIIs were net sellers of USD 9.2 million and MFs were net sellers of Rs 296 crore on February 4, reports CNBC-TV18.

Total F&O Open Interest was up by Rs 1,000 crore at Rs 1,09,652 crore.

FIIs were net sellers of Rs 28.5 crore; however DIIs were net buyers of Rs 32 crore in the cash market on February 6 as per provisional data.

FIIs were net sellers of Rs 32 crore in F&O on February 6 as per provision.

F&O cues:

-Total Futures Open Int down by Rs 551 crore , Total Options Open Int up by Rs 448 crore
-Stock Futures add 15.3 lakh shares in Open Int
-Nifty Calls add 6.8 lakh shares, Nifty Puts adds 92 thousand shares in Open Int
-Nifty PCR at 1.03 versus 1.10
-Nifty Futures 8 pt discount
-Nifty 5000 Call Adds 2.4 lakh shares in Open Int
-Nifty 4700 Call Adds 1.4 lakh shares in Open Int
-Nifty 4800 Call Adds 1.2 lakh shares in Open Int