Nifty southbound; ONGC, RIL, Bharti, DLF, RComm drag

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Nifty trades lower; RIL dips on lukewarm AGM meet

At 12.14 hrs IST, the Sensex was trading weak post Reliance Industries AGM. The Nifty lost another 25 points post Mukesh Ambani's speech. No major surprises came from the Reliance Industries AGM. The BSE Midcap and the Smallcap Index were down 0.26% & 0.14% respectively.

Realty & Banks which led the rally in yesterday's trade witnessed selling pressure today. Buying pressure was seen in IT & metal stocks. 

The Sensex was down 102.15 points or 0.60% at 16930.36, and the Nifty down 44.55 points or 0.88% at 5013.50. About 1260 shares advanced, 1595 shares declined, and 574 shares were unchanged.

Mukesh Ambani addressing shareholders said the company has potential to become debt free. Reliance Industries stock was down 1%.

In the largecap space, Hero Honda topped the gainers list with 3.09% gain. IT majors TCS, Wipro and Infosys advanced around 2% each. In metal space, Hindalco Industries was up 1.19%. On the losing side, DLF was down close to 3%. Mahindra and Mahindra, Tata Motors, ONGC and ICICI Bank were down 1.6-1.8%.
 
Top gainers on the BSE Midcap: BF Utilities up 15%; Spice Communication up 7.4%; Bajaj Finserv up 6.34%; Amtek Auto up 3.54%; Blue Dart up 3.53%.

Top losers on the BSE Midcap: Asian Star, HT Media, KGN Industries, HDIL and Motherson Sumi were down 3-5%.

Top gainers on the BSE Smallcap: Lok Housing, Mahindra Forging, Ajmera Realty, Kernex Micro and Zydus Wellness up 2-12%.

Top losers on the BSE Smallcap:  Zylog Systems, SpiceJet, Action Const, Oriental Hotels and Finolex Cables down 3-4%.

Nifty hovers around 5050; Infy, TCS, Wipro up, SBI, DLF dip

At 10:58 hours IST, the Nifty was consolidating at previous closing values as traders turned cautious after seeing rally in the last few days. It was hovering around the 5,050 level. Shares of oil & gas, banking, realty, capital goods and power companies were seeing selling pressure while technology, metal, auto and select telecom stocks were witnessing buying interest.

Asian markets were mixed in trade. Hang Seng, Nikkei and Taiwan Weighted fell 0.5%. However, Shanghai gained 0.2% and Jakarta was up 0.4%. Straits Times was flat. Gold was trading at $ 1136.81 an ounce, down 0.16% and Silver fell 0.82% to $ 18.24/oz. Nymex Crude future was flat at $ 78.84/barrel.

The Sensex was down 21 points at 17,011 and the Nifty fell 9 points to 5,048. The broader indices were outperforming the benchmark indices, up 0.4-0.5%. The market breadth was positive; about 712 shares advanced while 458 shares declined on the NSE.

Metal stocks like JSW Steel, Sesa Goa, Jindal Saw, Hindalco, Jindal Steel, SAIL, Sterlite Industries and Tata Steel were up 0.7-2%, as Reuters CRB Index was up 3%, best single-session percentage gain in more than one month.

Infosys, TCS, Tech Mahindra and Wipro gained 1.4-1.6% in the technology space. HCL Tech was up 0.72%.

However, ICICI Bank, SBI, Kotak Mahindra and Axis Bank were down 0.9-1.3% in the oil & gas pack. HDFC Bank, Bank of Baroda and PNB went down 0.3-0.6%.

Oil & gas stocks like ONGC, BPCL and GAIL slipped 1% each. Reliance Industries was down 0.28%.

DLF, HDIL, Unitech and Indiabulls Real lost 1-2% in the realty space.

Suzlon Energy, Punj Lloyd, ABB, L&T and BHEL were down 0.5-1.6% in the capital goods segment.

In the midcap space, BF Utilities rose 15.39%. Spice Communications, Bajaj Finserv, Sintex India and Amtek Auto gained 4-9% while Asian Star, KGN Industries, HT Media, REI Six Ten and Shriram Transport fell 2-6%.

In the smallcap space, Zydus Wellness, Ahmednagar Forging, Nahar Spinning, Mahindra Forging and Orbit Corporation went up 5-7% while Oscar Investment, Shree Ram Urban, Religare Techno, Money Matters and Kanani Industries lost 4-5%.

Sensex consolidates; IT, metals gain, banks, realty dip

The Sensex started the day mildly on a positive note and was trading in a narrow range, around previous closing values. The US markets rallied but Asian markets were quiet in trade. Banking, realty and select oil & gas stocks were under pressure while metals were gainers.

At 9:56 am, the Nifty fell 10 points to 5,047 and the Sensex declined just 32 points to 17,001. The broader indices were also flat, as about 422 shares advanced while 310 shares declined on the NSE.

Among the frontliners, ONGC, SBI, ICICI Bank, Unitech, Suzlon Energy, DLF, HCL Tech, Reliance Industries (Its AGM today), Idea Cellular and Reliance Capital were seeing selling pressure.

However, Jaiprakash Associates gained 1.7%. Infosys, Siemens, Cipla, Ambuja Cements, Tata Steel, Sterlite Industries, SAIL and Jindal Steel & Power were the gainers in the early trade.

Midcap space:

Auto ancillary stocks like Amtek Auto, Subros and Apollo Tyres went up 1.5-5%.

Noida Toll Bridge was up 4%.

Aviation stocks were quiet in trade, ahead of FDI in Aviation meeting today.

Lanco and IVRCL Infrastructure were down 1.5%

WWIL and Zee News fell 1.5-2.5%.

Global cues:

Asian markets were trading weak. Hang Seng, Nikkei, Taiwan Weighted, Kospi and Straits Times declined marginally. Shanghai and Jakarta were flat.

The US markets hit fresh 13-month closing highs post Bernanke's comment, weak dollar and US retail sales. Ben Bernanke signaled plans to leave rates low for a while leading to weakness in dollar and gain in commodities.

The S&P 500 Index closed above 1,100 for the first time since October 2008. It was up 15.8 points or 1.45% 1,109.3.

The Dow Jones Industrial Average gained 136.5 points or 1.33% at 10,407 and the Nasdaq Composite rose 30 points or 1.38% to 2,197.8.

Commodities:

Reutrs CRB Index was up 3%, best single-session percentage gain in more than one month.

Nymex Crude December futures rose 3.3% to $ 78.9/bbl, gained most in 6 weeks.

Gold was up 2% at $1138.6/ounce and hit a fresh high $1,143/ounce.

Baltic Dry Index was up 2.7%.

Copper rose 4% to $ 6855/tonne, at 13-month high.

Market cues:

-FIIs net buy USD 144.5 million on November 13-
-MFs net buy Rs 98.5 crore on November 13
-Total F&O Open Int Up by Rs 2244 crore at Rs 1,07,876 crore
-FIIs net buy Rs 544 crore in Cash on November 16 (prov)
-DIIs net sell Rs 295 crore in Cash on November 16 ( prov)
-FIIs net sell Rs 153 crore in F&O on November 16

F&O cues:

-Total Futures Open Int up by Rs 1260 crore
-Total Options Open Int up by Rs 984 crore
-Nifty up 1.2%, Futures Open Int up 1%
-Nifty Nov Fut trading at 4 pt premium
-Nifty IVs at 23-26%
-Nifty Open Int PCR at 1.58 versus 1.56
-Nifty Calls adds 90 thousand shares in Open Int
-Nifty Puts add 12.5 lakh shares in Open Int
-Nifty 5100 Put adds 5.5 lakh shares in Open Int
-Nifty 4900 Put adds 3.3 lakh shares in Open Int
-Nifty 5100 Call adds 4.4 lakh shares in Open Int
-Nifty 5000 Call sheds 3 lakh shares in Open Int
-Stock Futures add 2.8 cr shares in Open Int