Nifty flat; RIL slips post earnings, SBI top gainer
Indian equity benchmarks were flat in the opening trade on the back of mixed set of earnings. Heavyweight Reliance Industries was the leading loser while SBI was the top gainer.
April 25, 2011 / 11:02 IST
Indian equity benchmarks were flat in the opening trade. Fall in heavyweight Reliance Industries post disappointing fourth quarter earnings was offsetting the rally in SBI.
Geoffrey Dennis of Citigroup said, "Apart from rising oil prices, end of QE2, fears of Fed tightening and dollar rebound, earnings momentum slowing is an additional worry for EM investors. However, we do not expect earnings downgrades to derail the bull market in EMs in the near-term."Axis Bank lost 3.5% on margin pressure though its fourth quarter numbers were strong. Reliance Industries fell 2.5% as the company's fourth quarter bottomline and GRM came in below the street estimates. Topline was above estimates. JSPL lost nearly 2% post fourth quarter numbers. Maruti was down 1% ahead of numbers.Siemens, ICICI Bank, Kotak Mahindra Bank, TCS and HCL Tech too were down in trade today.However, SBI rallied 3%. PNB was up 1%. ONGC, Wipro and HUL were other gainers.At 9:18 hours IST, the BSE Smallcap Index fell 9 points to 19,593 and the 50-share NSE Nifty declined 10 points to 5,874. However, the CNX Midcap Index rose 10 points, to 8,324. Midcap & Smallcap space:Dhanlaxmi Bank rallied 3.5% and Coromandel Intl was up 2%.Binani Cement gained 3.5%.BILT was up 0.5% ahead of numbers. Geodesic Info was up 4%, Subex up 2.5% and 3i Infotech up 0.5%.Raj TV rose 1%. Everest Kanto, Sintex, REC and YES Bank gained up 1-2%.However, Raymond lost 1%._PAGEBREAK_Global cues:Asian markets were mixed in trade. Nikkei, Kospi and Taiwan were marginally in the green. However, Shanghai fell 0.6%.Hong Kong and UK markets are shut today.The US markets ended higher on the back of strong earnings and ahead of long weekend on Thursday.The Dow Jones Industrial Average ended up 52.45 points or 0.42% at 12,506 on Thursday. It was up 1.33% for week and up 8% YTD.The NASDAQ Composite gained 17.65 points or 0.63% at 2,820. It was up 2% for week and up 6.3% YTD.S&P 500 Index ended up 7 points or 0.53% at 1338; it was up 1.34% for week and up 6.34% YTD.CommoditiesJune crude oil contract was up 0.8% at USD 112.29/barrel on Thursday. It gained 2.4% for weekJune gold contract went up 0.3% at USD 1504/ounce; gained 8.2% for weekMay silver contract surged 3.8% at USD 46.13/ounce - rallied to fresh all-time and 31 years highs.May natural gas contract went up 2.4% at USD 4.41 per MMBtu - traded to its best since April 1 F&O cues: Total Futures Open Int up Rs 1868 crore, Total Options Open Int up Rs 3277 croreTotal stock futures Open Int add 6.91 crore shares in Open IntNifty futures Open Int shed 3.83 lakh shares in OI, premium at 18.85 pts vs premium at 18.95 ptsNifty Open Int PCR up at 1.46 versus 1.36 Total Put adds 56.55 lakh shares, call sheds 1.96 lakh shares Highest Open Int outstanding at 6000 call, 5700 put and 5800 putNifty 5900 put adds 23.74 lakh (48%) shares in Open Int Nifty 6000 put adds 16.14 lakh (164%) shares in Open Int Nifty 5600 put adds 6.76 lakh (10%) shares in Open Int Nifty 5800 put adds 5.96 lakh (8.5%) shares in Open IntNifty 6000 call adds 5.92 lakh (6.72%) shares in Open IntNifty 5800 call sheds 7.6 lakh (16%) shares in Open Int Nifty 5500 put sheds 5.45 lakh (10.3%) shares in Open Int Nifty 5900 call sheds 3.42 lakh (5.6%) shares in Open Int Nifty 5700 call sheds 3.25 lakh (9.63%) shares in Open Int India VIX down 2.29% at 20.51 In F&O ban Aloktext, Orchid Chemicals, Suzlon and videocon Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
