Nifty volatile; ITC, Bharti, L&T, Hindalco, TCS down

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Nifty bounces back on positive Asian cues; metals, banks up

The Nifty bounced back strongly after seeing downward trend in the last six sessions and clawed back above the 4900 mark. But it was hovering around that level ahead of F&O expiry today. Metal, realty, infrastructure, technology and banking stocks were seeing buying interest.

At 9:02 hours IST, the Nifty was trading at 4,904, up 51 points and the Sensex was at 16,453, up 164 points.The CNX Midcap was up 109 points at 7,203 and the BSE Smallcap up 131 points at 8,280, as abouve 700 shares advanced while 100 shares declined on the NSE.

Among the frontliners, Suzlon Energy, Hindalco, SAIL, Unitech, DLF, Cairn, HCL Tech, Jaiprakash Associates, M&M, Axis Bank, ICICI Bank, SBI, Reliance Industries, TCS and Infosys were the gainers.

However, ITC, HUL, Sun Pharma and Tata Power were the only losers. Nalco tumbled 3% on disappointing numbers.

Midcap and Smallcap space:

SREI Infrastructure and Lanco Infratech went up over 3%.

Indiabulls Financial rallied 3%.

RCF and Gujarat NRE Coke gained 5% each.

Arvind and Bombay Dyeing went up 3-4%.

Aptech rose 2.5% while EIH fell 2% post weak earnings.

JM Financial shot up 8%.

Global cues:

Asian markets were trading higher. Hang Seng, Jakarta, Nikkei, Straits Times and Taiwan Weighted gained 1-1.8%. Kospi was up 0.85% while Shanghai was flat.

The US markets recovered in the last hour of trading as Fed offered no surprise. Commodities continued with the fall.

Fed left interest rates unchanged and kept the "extended period" language in its statement.

Fed said that economic activity continues to strengthen and deterioration in the labour market is abating.

The Dow Jones Industrial Average ended up 42 points at 10236, after seeing recovery of 132 points from day's low of 10104.

The NASDAQ Composite was up 17.7 points at 2222, after recovering 30 points from day's low of 2192.

The S&P 500 Index was up 5.3 points at 1097.5, after seeing recovery of 15 points from day's low of 1083.

Commodity:

Reuters CRB Index declined 2% to 7 week lows, worst single-session percentage loss in two months.

Crude declined 1.4% to USD 73.67 a barrel, at 5-week lows.

Crude has declined 11% since January 8th.

Base metals fell after unexpected drop in US new home sales.

LME copper was down 2.5% at USD 7230/tonne.

Aluminium was at 2-month lows at USD 2150/tonne

Gold was down 1.3% at USD 1084.5/ounce.

Silver was down 2.5% at USD 16.44/ounce.

Baltic Dry Index was down 2.7%.

Market cues:

-FIIs net sell USD 195 million on January 26
-Record F&O Turnover at Rs 158503 crore
-Total F&O Open Interest up by Rs 5711 crore at Rs 1,31,874 crore
-FIIs net sell Rs 2212 crore in cash on Jauary 27 (Prov)
-DIIs net buy Rs 1475 crore in cash on Jauary 27 (Prov)
-FIIs net sell Rs 750 crore in F&O on Jauary 27 (Prov)

F&O cues:

-Total Futures Open Int up by Rs 126 crore
-Total Options Open Int up by Rs 5585 crore
-Stock Futures Shed 5.2 crore Shares shares in Open Int
-Nifty Calls add 97.3 lakh shares, Nifty Puts adds 14.7 lakh shares in Open Int
-Nifty PCR at 0.9 versus 1.01
-Nifty Futures add 60.7 lakh shares, Futures at a 5point discount
-Nifty 4900 Call Adds 36 lakh shares in Open Int
-Nifty 4800 Call Adds 15.8 lakh shares in Open Int
-Nifty 5000 Call Adds 13 lakh shares in Open Int
-Nifty 5000 Put Sheds 19.4 lakh shares in Open Int