Nifty volatile with +ve bias; Infy, TCS, SAIL, Bharti up

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Nifty volatile; pvt banks, oil & gas down, tech, metals up

The Nifty started the day on a flat-to-negative note following mixed cues of Asian markets. It was also witnessing volatility. Technology and metal stocks gained while realty, capital goods, private banking & financial and oil & gas stocks were under pressure.

At 9:02 hours IST, the Nifty was trading at 4742, down 18 points and the Sensex was at 15870, down 65 points. However, the CNX Midcap was up 3 points to 7174 and the BSE Smallcap up 20 points 8211.

Among the frontliners, Sterlite, Unitech, DLF, Suzlon Energy, PNB, ICICI Bank, HDFC Bank, ONGC, L&T, Reliance Industries, IDFC, Jaiprakash Associates and Jindal Steel were the losers.

However, SAIL rose 2.5%, as the company may issue bonus shares before its follow-on public offering (FPO), reports CNBC-TV18 quoting sources.

Ranbaxy Labs gained 1.5%, as WHO said November inspection of Ranbaxy's Paonta Sahib plant found no problems at site.

Idea Cellular, Bharti Airtel, Reliance Communications, ITC, Wipro and Infosys were the other gainers.

Midcap & smallcap space:

Jubilant Foodworks shot up 5%, after yesterday's 65% rally.

Subex rose 7%, as its board approved issue of up to 6 million shares to promoters at Rs 80/share.

Vishal Retail was up nearly 5%.

Fame India gained 5%. Deepak Fertiliser was up 2.5%.

However, Shree Ashtavinayak fell 3.3% and Inox was down 0.5%.

Global cues:

Asian markets were trading mixed. Taiwan rose 1.5% and Kospi gained 0.5%. Shanghai was up 0.26%. However, Hang Seng, Nikkei and Straits Times fell 0.1-0.44%. Jakarta lost 1%.

The Dow Jones Industrial Average closed below 10,000 for the first time in three months. It ended down 104 points at 9908.

The Nasdaq Composite was down 15 points at 2126 and the S&P 500 down 10 points at 1057.

There were reports that China's lending in January exceeded previous 3 months put together (October, November, December) ((govt report to be released this week)).

Commodity:

Reuters CRB commodities index was up 1.2%.

Crude oil rose 1% at USD 71.89/bbl.

Gold was up 1.3% at USD 1065.7/ounce, after seeing intraday high at USD 1074.3/ounce.

March silver rose 1.8% at USD 15.09/ounce, after hitting an intraday high at USD 15.32/ounce.

LME Copper was up 2.7% and ended higher for the first time in four sessions.

Market cues:

FIIs were net sellers of USD 350 million on February 5 in the secondary markets. MFs were net sellers of Rs 296 crore on February 4.

The Total F&O Open Interest was up by Rs 3129 crore at Rs 1,11,781 crore.

As per provisional data on February 8 the FIIs were net sellers of Rs 935 crore in cash, however DIIs were net buyers of Rs 381 crore in cash and FIIs were net buyers of Rs 405 crore in the F&O.

F&O cues:

-Total Futures Open Interest down by Rs 1,453 crore, Total Options Open Interest up by Rs 1,675 crore
-Stock Futures Add 2.8 crore shares in Open Interest
-Nifty Calls add 13.5 lakh shares, Nifty Puts adds 7.8 lakh shares in Open Interest
-Nifty PCR at 1.02 versus 1.03
-Nifty Futures 5 pt premium versus 8 pt discount , Add 4.2 lakh shares
-Nifty March 4400 Put Adds 3.8 lakh shares in Open Interest
-Nifty Feb 4700 Put Adds 3.6 lakh shares in Open Interest
-Nifty Feb 4600 Put Adds 3.2 lakh shares in Open Interest
-Nifty Feb 5200 Call Adds 2.9 lakh shares in Open Interest