Nifty slips further post RBI policy; banks, telecom dip

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 trades below 4950 on weak global cues; banks dip

The Nifty opened the session on a negative note and slipped below the 4950 level on the back of weak global cues. Telecom, realty, metal, banking and power along with heavyweight Reliance Industries were witnessing selling pressure.

At 9:56 am, the Sensex fell 119 points to 16,621 and the Nifty declined 38 points to 4,932. The CNX Midcap lost 91 points to 6,784. About 157 shares advanced while 522 shares declined on the NSE.

Wipro was up 2.5% on good set of numbers, which beat guidance as well as street estimates. Tata Motors gained 2.5%.

Among the frontliners, Unitech, DLF, Idea Cellular, Reliance Communication, Jaiprakash Associates, Tata Steel, Hindalco, Sterlite Industries and ICICI Bank were the losers in the early trade.

Midcap space:

Sesa Goa lost 10% as MCA ordered SFIO probe into the company. Sterlite said investigation relates to transactions in 2002 and much before acquisition of Sesa Goa.

Punj Lloyd lost another 5.5% on weak set of numbers. It was down over 16% on Monday.

GMR Infrastructure, Areva T&D and OnMobile Global fell 4.5-6% on disappointing numbers.

Aban Offshore fell 2.5% and Geometric Software was down 1%.

Hindustan Motors shot up 5% on good set of numbers. Zee News rose 1.5% and MindTree gained 2.5%.

Global cues:

Asian markets were trading lower. Shanghai, Hang Seng, Nikkei and Jakarta fell 1.3-1.9%. Straits Times, Kospi and Taiwan Weighted slipped 0.3-0.8%.

US stocks fell for the second straight session as dollar rebounded & home buyer tax credit fears hurt financials and builders.

The Dow Jones Industrial Average ended down 104 points at 9,868. The Nasdaq Composite closed down 12.6 points at 2,142 and the S&P 500 index ended down 12.6 points at 1,067.

Commodities:

The CRB Commodity Index was down 1.6%, worst single-session percentage drop in one month.

Crude fell 2.3% to $78.68/bbl on USD rebound.

Gold lost 1.3% at $1042.8/ounce, biggest decline in a week.

Silver declined 3.5% at $17.09/ounce.

Copper was down 0.5% at $6613.

Market cues:

-FIIs net sell USD 10.5 million in cash on October 23
-MFs net sell Rs 309 crore in cash on October 23
-Total F&O Open Int up by Rs 870 crore to Rs 109776 crore
-FIIs net sell Rs 3 crore in cash on October 26 (prov)
-DIIs net sell Rs 171 crore in cash on October 26 (prov)
-FIIs net buy Rs 348 crore in F&O on October 26

F&O cues:

-Nifty up 0.5% , Futures Open Int up 3%
-Total Futures Open Int up by Rs 75 crore
-Total Options Open Int up by Rs 794 crore
-Nifty IVs up form 22-24% to 27-28% levels
-Nifty Open Int PCR up from 1.29 to 1.31
-Nifty Nov futures trading at 19-pt prem versus 11-pt prem
-Nifty Calls add 56 thousand shares in Open Int
-Nifty Puts add 13 lakh shares in Open Int
-Nifty Nov 4900 Put adds 5 lakh shares in Open Int
-Nifty Nov 5000 Put adds 3.8 lakh shares in Open Int
-Nifty Oct 4800 Put adds 3.5 lakh shares in Open Int
-Nifty Nov 5300 Call adds 2.2 lakh shares in Open Int
-Stock Futures adds 1.2 cr shares in Open Int