Nifty consolidates; broader indices outperform

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 30/05/12 Are Mutual Funds betting on Nifty?

Sensex trades higher on positive global cues; metals up

The Nifty opened strong following positive global cues post Obama's USD 3.8 trillion package for Job sector. The index was trading above the 4900 mark while the Sensex above the 16500 level. Commodities, technology, auto and realty stocks went up smartly.

At 9:02 hours IST - the Nifty was trading at 4943, up 43 points and the Sensex was at 16518, up 162 points. The CNX Midcap gained 100 points at 7440, as about 759 shares advanced while 34 shares declined on the NSE. 

Among the frontliners, Cairn, Hindalco, Tata Steel, Sterlite, Infosys, TCS, Unitech, DLF, Tata Motors (post good January sales numbers), Hero Honda (post good January sales numbers), M&M, HDFC and Jaiprakash Associates (post good January sales numbers) were the gainers in early trade.

However, NTPC was down 1.1%, post government fixed the floor price for the company's follow-on public offer at Rs 201/share.

Midcap & Smallcap space:

Shree Ashtavinayak shot up 20% and Reliance Media World was up 5%.

KRBL rose 7.5% and Gujarat NRE Coke gained 3.5%.

Moser Baer went up 3% and Clutch Auto rallied 5%.

Global cues:

Asian markets were trading higher. Nikkei surged 1.88% and Shanghai gained 1.26%. Hang Seng, Straits Times, Kospi and Jakarta were up 0.5-0.9%.

The US markets gained as Barack Obama proposes USD 3.8 trillion budget on job, including USD 100 billion additional stimulus.

Commodities gained as dollar index snapped a four-day winning streak.

The Dow Jones Industrial Average ended up 118.2 points at 10185. The Nasdaq was up 24 points at 2171 and S&P 500 up 15.5 points at 1090.

ISM factory index rose to 58.4, gains fastest since August 2004 ((in line with manufacturing data from India, China, South Korea and Australia)).

Commodity:

Reuters CRB Index was up 1%, had declined 6.3% in January.

Crude gained 2.1% at $74.43/bbl, gained most in 4 weeks.

Gold was up 2% at USD 1105/ounce, gained most in 4 weeks.

Silver was up 2.9% to $ 16.66/ounce, had declined 4% in January.

Copper rose 0.5% to $ 6790/tonne, had declined 10% in January.

Market cues:

-FIIs net buy $ 42.5 million on January 29
-MFs net buy Rs 636 crore on January 29
-Total F&O Open Interest up by Rs 3,625 cr at Rs 96,189 cr
-FIIs net sell Rs 494 cr in cash mkts on February 1 (prov)
-DIIs net buy Rs 200 cr in cash mkts on February 1 (prov)
-FIIs net buy Rs 737 cr in F&O on February 1 (prov)

F&O cues:

-Total Futures Open Int up by Rs 1,052 crore
-Total Options Open Int up by Rs 2,572 crore
-Stock Futures add 1.2 crore shares in Open Int
-Nifty Calls add 20.5 lakh shares in Open Int
-Nifty Puts adds 18 lakh shares in Open Int
-Nifty PCR at 1.14 versus 1.15
-Nifty Futures add 1.1 lakh shares
-Futures flat versus 6-pt discount
-Nifty 4900 Put adds 3.85 lakh shares in Open Int
-Nifty 4700 Put adds 3.5 lakh shares in Open Int
-Nifty 4800 Put adds 3.4 lakh shares in Open Int
-Nifty 5000 Call adds 3.2 lakh shares in Open Int