Nifty hovers around 4700; Bharti, RIL, Wipro lead

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?

Nifty consolidates; RIL, ICICI Bank, ITC, HUL, DLF dip

At 10:35 hours IST, the Nifty was witnessing volatility. Reliance Industries, ITC, ICICI Bank, L&T, HDFC, DLF, HUL , HDFC Bank, Reliance Communication, Tata Steel, Hero Honda, Tata Motors, Reliance Infrastructure, Unitech and Hindalco were witnessing selling pressure.

However, buying continued in Bharti Airtel, Wipro, TCS, Infosys, BHEL, SAIL, Cipla, Sun Pharma, Ambuja Cements, ACC and Maruti Suzuki.

The Sensex was down 15 points, to 15,754 and the Nifty fell 5 points, to 4,675. However, about 838 shares advanced while 212 shares declined on the NSE. Among the broader indices, the BSE Midcap Index rose 0.6% and the Smallcap Index up 1.4%.

In the midcap space, GMDC, IRB Infra, Ackruti City, Videocon Industries and HOEC were up 5-8% while Phoenix Mills, Indiabulls Real, Shriram Transport, HCL Info and Puravankara Projects lost 2.5-5%.

In the smallcap space, Rajesh Exports, Banco Products, Radico Khaitan, Jyothy Labs and Dalmia Cement gained 7.5-11.6% while
Geojit BNP, JMD Telefilms, Action Construction, Indraprastha and Indo Rama Synthetic fell 3-5%.

Media stocks - HT Media, Jagran Prakashan, TV18, NDTV, UTV Software, Deccan Chronicle, Sun TV Network and Zee News were up 1-3%. Zee Entertainment and IBN18 Broadcast went up just 0.5-0.8%.

Sensex volatile with negative bias; Bharti, Wipro, TCS up

The Sensex started the settlement day on a weak note following negative Asian cues. Consolidation continued in today's trade as well. Fall in base metals also impacted the steel stocks in the early trade.

At 9:58 am, the Nifty was down 16 poitns, to 4,664 and the Sensex fell 52 points, to 15,717. The broader indices were flat in trade. About 504 shares advanced while 244 shares declined on the NSE.

Among the frontliners, Tata Steel (ahead of Q1FY10 consolidated numbers), Ranbaxy Labs, Tata Motors, Hindalco, Unitech, ICICI Bank, PNB, Reliance Industries, ITC, Hero Honda, L&T, Siemens and Nalco lost ground.

However, Wipro and TCS were up over 1% post receiving British Petroleum order. Bharti Airtel, Cipla, Cairn India, Ambuja Cements and ACC were the other gainers.

Midcap space

Textile stocks like Alok Industries and Arvind continued their rally, up 3% each.

KPIT Cummins was up 5% in the technology space. Suven Life Sciences was up another 6% after seeing upper circuits for last three days.

Marksans Pharma and Shasun Chemical went up 5% each. JM Financial up 5% post block deal.

However, Indiabulls Real lost 5%. HDIL and Ansal Properties were down 1% each.

Global cues:

Asian markets were trading weak. Nikkei fell 2.2%. Hang Seng, Jakarta and Kospi were up over 1%. Shanghai, Straits Times and Taiwan Weighted lost 0.3-0.4%.

The US markets ended flat despite strong new home sales and durable goods orders. Commodities traded weak post China's comment.

The Dow Jones Industrial Average was up only 4.23 points or 0.04% at 9,543.52, but it was enough to extend the Dow's winning streak to seven straight sessions.

The S&P 500 Index ended at 1,028.12, up 0.12 points or 0.01% and the Nasdaq Composite gained 0.20 points or 0.01% at 2,024.43.

Commodities

The Reuters CRB (Commodity Research Bureau) declined 0.8%.

Crude declined 0.9% at $71.43/bbl.

US inventories increased. Markets were estimating a decline.

Base metals declined; Aluminium down 2%, Nickel down 1.5% and Tin down 4%.

Lead made 1-year high at $2129, settled at $2050/tonne

Market cues:

-FIIs net sell USD 11 million in cash on August 25
-MFs net buy Rs 423 crore in cash on August 25
-Total F&O Open Int up by Rs 1578 crore at Rs 93,960 crore
-FIIs net buy Rs 379 crore in cash on August 26 (prov)
-DIIs net buy Rs 129 crore in cash on August 26 (prov)
-FIIs net buy Rs 435 crore in F&O on August 26

F&O cues:

-Total Futures Open Int up by Rs 1350 crore
-Total Options Open Int up by Rs 228 crore
-Nifty up 0.5%, Futures Open Int up 3%
-Nifty September Fut trading at 9-pt prem versus 10-pt prem
-Stock Futures add 2.3 crore shares in Open Int
-Nifty Open Int Put Call Ratio up from 1.25 to 1.31
-Nifty Puts add 11.5 lakh shares
-Nifty Calls shed 9.7 lakh shares
-Nifty implied volatility at 32-36% levels
-Nifty Sept 4700 Put adds 3.5 lakh shares in Open Int
-Nifty Sept 4600 adds 3.2 lakh shares in Open Int
-Nifty Sept 4400 Put adds 2.8 lakh shares in Open Int