Nifty volatile; NTPC, SAIL, HDFC, HDFC Bank, GAIL 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?

Nifty tests 5250 amid choppy trade; RIL, ITC, Infy slip

At 11:28 hours IST, the 50-share NSE Nifty slipped marginally into the red amid choppy trade on the back of weak Asian cues and selling in heavyweights. It tested the 5250 level as well.

Among the Asian markets, Shanghai, Jakarta, Straits Times, Kospi and Hang Seng lost 0.4-0.6%. Nikkei and Hang Seng were flat.

Heavyweight Reliance Industries was down over 1%. Technology companies' shares also declined again; TCS, Infosys and HCL Tech fell 0.5-0.7%.

ITC and HUL from the FMCG segment were down 0.85% each. Even metal stocks were witnessing profit booking; Sterlite, Hindalco, Jindal Steel and Tata Steel lost 0.5-1.4%.

However, auto, capital goods, realty, select pharma and banking & financial stocks were quite supportive to the markets. NTPC, Bharti and DLF went up 1.4-1.8%. Wipro, BHEL, SBI, HDFC and HDFC Bank gained 0.4-0.7%.

The Sensex was trading at 17569, down 21 points and the Nifty was at 5252, down 10 points. The Nifty April future was trading with 6 points premium.

The market breadth was in favour of advances; about 1645 shares advanced while 1215 shares declined on the BSE. Nearly 369 shares were unchanged.

Top percentage gainers - Josts Engineers and TCP rallied 20%. Ennore Coke was up 18.55% and Shiva Texyarn up 18.93%. D-Link India, Camson Bio, MRO-TEK and Aarvee Denim were up 11-17%.

Top percentage losers - Choice Financial fell 19.16%. Hipolin, Parsoli CapandF, Swaraj Mazda, VXL Instruments, Eurotex, Blue Coast and Novopan were down 4.5-12%.

Sensex consolidates; RIL, Hindalco, HUL dip

At 10:18 hours IST, the 30-share BSE Sensex was consolidating at current levels. Buying in technology, power, realty, auto, capital goods, pharma and select cement stocks was supporting the markets. Bharti Airtel, ONGC, HDFC Bank, HDFC, SBI and Reliance Communications were the other gainers.

Bharti Airtel gained further; was up 1.8%, it has inked a definitive agreement to buy Zain Africa. The Indian telecom major will become the world's 5th largest wireless company post the Zain buy. The enterprise value of Zain Africa BV is USD 10.7 billion.

Technology stocks were seeing buying interest. Infosys and Wipro went up 0.8% each. TCS rose 0.3%.

However, selling in Reliance Industries, Jindal Steel, Hindalco, HUL, Axis Bank, PNB, BPCL, Tata Steel, ITC, Idea and Grasim wiped out some of the early gains.

The Sensex was trading at 17630, up 40 points and the Nifty was at 5270, up 7.7 points. The Nifty April future was trading with 8 points premium.

On the global front, Asian markets were marginally weak. Shanghai, Hang Seng, Jakarta, Straits Times, Kospi and Taiwan fell 0.1-0.6% while Nikkei gained 0.3%.

The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 0.4% and the Smallcap was up 0.8%. About 1749 shares advanced while 1087 shares declined on the BSE. Nearly 392 shares were unchanged.

In the midcap space, Sun Pharma Advanced, LIC Housing Finance, Havells India, J&K Bank and Essar Shipping were up 3-5% while MVL, Gujarat NRE Coke, Polaris, Financial Tech and Dishman Pharma fell 1.7-8.5%.

In the smallcap space, Rollatainers was locked at 10% upper circuit. Mukand, Smartlink Network, Finolex Industries and Shrenuj went up 6.7-9%. However, Subhkam Capital, Swaraj Mazda, Ruchinfra, Heritage Foods and Prraneta Industries lost 2.5-5%.

Nifty bounces back; Infy, Bharti, ICICI Bank gain

The benchmark Nifty recouped some of its Tuesday's losses and was trading below the 5300 mark. Technology shares bounced back after two-day losses on rupee appreciation. Realty, select banking and auto stocks were also witnessing buying interest.

At 9:02 hours IST, the Nifty was trading at 5278, up 16 points and the Sensex was at 17649, up 59 points.

The CNX Midcap went up 38 points to 7707. About 550 shares advanced while 150 shares declined on the NSE. 

Among the frontliners, DLF, Hero Honda, ICICI Bank, Tata Motors, Infosys, TCS, M&M, Jaiprakash Associates, Unitech, Jindal Steel & Power and SBI were the gainers.

Bharti Airtel has inked a definitive agreement to acquire Zain Africa. The enterprise value of Zain Africa BV is USD 10.7 billion, Bharti said in a press release.  The Indian telecom major will become the world's 5th largest wireless company post the Zain buy. The stock rose over 1%.

However, HDFC, ONGC, Tata Power, ITC and HDFC Bank were the losers in the early trade.

Midcap & Smallcap Space:

NMDC gained 1.5% and was near to Rs 300 level, after seeing sell-off in the last few days.

3i Infotech gained 2.5%, as its QIP book opened. The deal size is Rs 120-180 crore and floor price fixed Rs 78.60/share.

Valecha Engineering rallied 5%. SREI Infra gained 1%.

Chola DBS was up 4%, as Murugappa group will buy over 37.48% stake in company at Rs 91/share.

However, recently listed ITNL lost 0.5% on profit booking.

Global cues:

Asian markets were mixed in trade. Shanghai, Jakarta and Straits Times fell 0.3-0.5% while Hang Seng and Nikkei gained 0.2-0.3%. Kospi and Taiwan were flat.

The US markets ended flat amid better-than-expected consumer confidence report. The US dollar made a move up from negative territory to finish with a 0.3% gain.

The Dow Jones Industrial Average ended up 11.5 points at 10907. The Nasdaq was up 6 points at 2411 and S&P 500 closed flat at 1173.

Commodities

CRB Commodities Index gained 0.3%.

May Crude oil was up 0.2% at USD 82.37/bbl.

April gold was down 0.5% at USD 1104.5/ounce.

May silver fell 0.3% at USD 17.33/ounce.

May natural gas was up 1.5% at USD 3.98 per MMBtu, has been recovering from 6-month low at USD 3.85.

Natural gas fell 36% since early January.

Market cues:

FIIs were net buyers of USD 229 million in equities on March 29

Total F&O Open Int was up by Rs 2100 crore to Rs 91934 crore

As per provisional data of March 30, FIIs were net buyers of Rs 580 crore; DIIs were net buyers of Rs 100 crore in cash markets. FIIs were net sellers of Rs 69 crore in F&O.

F&O cues:

-Total Futures Open Int was down by Rs 453 crore
-Total Options Open Int ws up by Rs 2553 crore
-Stock Futures add 40 lakh shares in Open Int
-Nifty down 0.7%, Open Int down 2%
-Nifty Open Int PCR at 1.17 from 1.16
-Nifty Calls add 18.4 lakh shares in Open Int
-Nifty Puts add 22 lakh shares in Open Int
-Nifty April 5400 Put adds 8.6 lk shrs in Open Int
-Nifty April 5300 Call adds 6.8 lk shrs in Open Int
-Nifty April 5200 Put adds 4.4 lk shrs in Open Int
-Nifty May 5100 Put adds 2.2 lk shrs in Open Int