Nifty hovers around 4800; HUL, ITC, Tata Power, BHEL dip

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Nifty back above 4800 on positive global cues

The Nifty started the day on a positive note following good global cues. The global markets rallied post encouraging US economic data. High beta stocks were seeing buying interest and potential divestment companies' shares jumped higher. The Nifty was trading above the 4,800 mark.

At 9:56 am, the Sensex rose 178 points to 16,242 and the Nifty gained 55 points at 4,820. The CNX Midcap went up 84 points to 6,776. About 652 shares advanced while 44 shares declined on the NSE.

Among the frontliners, Suzlon Energy, Jaiprakash Associate, Unitech, DLF, Tata Steel, Sterlite, Hindalco, Jindal Steel & Power, Siemens, Reliance Infrastructure and Reliance Industries were helping the markets. However, HUL was the loser.

Midcap space:

After a cabinet meeting yesterday, Home Minister, P Chidambaram said all unlisted PSUs (public sector undertakings) with a positive networth would be listed and a minimum of 10% of equity of all PSUs' would be held by public.

Divestment candidates like Hindustan Copper, ITI, RCF, HMT and NMDC were up 6-10%. IFCI gained 3% at Rs 51.

Rolta, Patni, Rolta and Polaris were up 3-4%.

Kingfisher Airlines and Jet Airways were up 0.7-1.5%.

However, Thinksoft Global and Austral Coke fell 3-4%.

Global cues:

Asian markets were trading higher. Hang Seng, Straits Times, Kospi and Jakarta gained 1-1.7%. Nikkei and Taiwan Weighted went up 0.9% each. Shanghai gained 0.6%.

The US markets rallied post encouraging economic data ahead of all important October job report. Senate voted to extend first-time homebuyer's tax credit through April 30.

The Dow Jones closed above the 10,000 mark for the first time since October 22, was up 204 points or 2.08% at 10,006. The S&P 500 Index gained 20 points or 1.92% at 1,066.6 and the Nasadq Composite rose 50 points or 2.4% at 2,105.3.

3Q non-farm productivity was up 9.5% in its preliminary report, highest pace in 6 years.

Commodities:

The Reuters CRB Index was down 1%.

Gold gained $2.5 at $1087.3 an ounce, rallied for a fourth day.

Crude was up 1% at $79.6/bbl on Thursday. It was up 4% this week.

Copper declined 1% to $6530/tonne.

Market cues:

-FIIs net buy USD 2.9 million in cash on November 4
-MFs net buy Rs 386 crore in cash on November 4
-Total F&O Open Interest up by Rs 2986 cr at Rs 89,517 cr
-FIIs net buy Rs 127 crore in cash on November 5
-DIIs net buy Rs 199.5 crore in cash on November 5
-FIIs net buy Rs 139 crore in F&O on November 5

F&O cues:

-Total Futures Open Int up by Rs 1163 crore, Total Options Open Int up by Rs 1822 crore
-Nifty up 1.2%, Futures Open Int up 4%
-Nifty IVs at 27-30%
-Nifty futures trading at 5 point premium versus 6 point discount
-Nifty Call add 3.4 lakh shares shares in Open Int, Nifty Puts add 30.7 lakh shares in Open Int
-Nifty 4700 Put adds 9.4 lakh shares in Open Int
-Nifty 4800 Put adds 8.5 lakh shares in Open Int
-Nifty 4500 Put adds 3.5 lakh shares in Open Int
-Nifty 4700 Calls adds 3 lakh shares in Open Int
-Stock futures add 6.1 lakh shares in Open Int