Nifty touches 4850; banks, metals, oil & gas, power up

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?

Sensex volatile with positive bias; Bharti, RComm, DLF dip

At 10:53 hours IST, the Nifty was trading higher amid volatility as heavyweights were seeing buying interest. Big boy Reliance Industries was up 2.5%. Buying continued in banking & financial, metal, oil marketing and select pharma stocks. However, selling in realty, telecom, select power, cement and auto stocks capped the gains. ONGC and Cairn India were the other losers.

Asian markets were also supportive a bit. Straits Times and Hang Seng gained 1-1.4%. Kospi, Taiwan Weighted and Nikkei were up 0.4-0.8%. Shanghai and Jakarta were flat in trade.

The Sensex rose 74 points to 16,232 and the Nifty gained 21 points at 4,817. The Nifty November future was trading with 7 points discount.

The broader indices were outperforming the benchmark indices, were up 0.8-1.2%. The market breadth was positive; about 855 shares advanced while 327 shares declined on the NSE.

Bharti Airtel, Reliance Communications, ONGC, BHEL, DLF, Unitech, Suzlon, Jaiprakash Associates and Ambuja Cements were negative contributors while Reliance Industries, SBI, HDFC Bank, JSPL, ICICI Bank, ITC, SAIL, HDFC, Sterlite, Tata Power and Tata Steel were positive contributors to the indices.

Gold made an all-time high of $1105 an ounce today.

In the midcap space, Jai Corp shot up 13.5%. Sobha Developer, Central Bank, KGN Industries and Andrew Yule gained 4.5-5%. However, Spice Communication, Educomp Solutions, STC India, Godfrey Phillip and Patni Computer lost 2-4%.

In the smallcap space, Orbit Corporation, Kalyani Steels, IVR Prime, Sahara One and Gulf Oil Corp went up 9.5-12% while Kanani Industries, CMI FPE, Polaris, Banco Products and WABCO-TVS slipped 3.4-4%.

Nifty above 4800; RIL, SBI, Sterlite, SAIL, Ranbaxy gain

The Sensex started its first day of the week on a positive note led by buying in metal (rallied on the back of gain in base metals), banking, select oil & gas, telecom, pharma and technology stocks. Heavyweights were leading the markets.

At 9:56 am, the Sensex was up 87 points at 16,245 and the Nifty moved up 25 points at 4,820. The CNX Midcap went up 0.8% to 6,893, as about 600 shares advanced while 100 shares declined on the NSE.

Among the frontliners, Ranbaxy Labs, Suzlon Energy, DLF, Bharti Airtel, SAIL, Tata Steel, Jaiprakash Associates, PNB, SBI, BPCL, HCL Technologies, Idea Cellular, Hindalco, Sterlite, Reliance Industries and Cipla were leading the markets.

Cairn, Reliance Communications, ONGC and Unitech were the losers in the early trade.

Midcap space

Maytas Infra gained nearly 9% on the back of getting big order in the last week.

Edserv Softsystems was up 7% while Educomp fell 1%.

Deccan Chornicle and TV Today gained 3%.

NMDC rose 7% and and ITI went up 2.5%. Apollo Tyres rose 3% and HCC gained 3.5%

Global cues:

Asian markets were trading higher. Hang Seng and Taiwan Weighted gained 1% each. Nikkei and Straits Times were up 0.4% each. Kospi rose 0.9%. Shanghai and Jakarta were flat in trade.
 
The US markets ended flat despite disappointing jobs report. The Dow Jones Industrial Average ended up 17.5 points at 10,023, which was up 3.2% for week and was up 14.2% YTD (year-to-date).

The Nasdaq Composite ended up 7 points at 2,112, which was up 3.3% for week and was up 34% YTD. The S&P 500 index ended up 2.7 points at 1,069, which gained 3.2% for week and was up 18.4% YTD. US unemployment rate crossed psychological mark of 10% at 10.2% - at 26 years high.

Market cues:

-FIIs net buy USD 56.8 million on November 5
-MFs net buy Rs 34.3 crore on November 5
-Total F&O Open Interest up by Rs 1,280 crore at Rs 90,797 crore
-FIIs net buy Rs 587 crore in cash on November 6 (Prov)
-DIIs net buy Rs 237 crore cash on November 6 (Prov)
-FIIs net buy Rs 1,471 crore in F&O on November 6

F&O cues:

-Total Futures Open Int down by Rs 389 crore
-Total Options Open Int up by Rs 1,670 crore
-Nifty Puts add 21 lakh shares in Open Int
-Nifty Calls add 9.5 lakh shares in Open Int
-Nifty Open Int PCR at 1.26 versus 1.24
-Nifty Futures trading 6-pt disc versus 5-pt prem
-Nifty IVs at 26-30% levels
-Nifty 4600 Put adds 9.6 lakh shares in Open Int
-Nifty 4700 Put adds 8.7 lakh shares in Open Int
-Nifty 4800 Call adds 6 lakh shares in Open Int
-Nifty 4900 Call adds 5 lakh shares in Open Int
-Stock Futures shed 1.8 crore shares in Open Int