O&G, telecom, IT, CG, banking lift mkts higher

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

The markets have extended gains further, as buying is seen in shares of oil & gas, capital goods, technology, telecom, cement, metal, technology and select banking companies. Midcap and small cap indices are quiet in trade.

Leading counters to this upsurge are Reliance Industries, ONGC, Bharti Airtel, BHEL, ITC, ICICI Bank, TCS, Wipro, HDFC, L&T and Grasim. However, DLF, Tata Motors, NTPC, Zee Entertainment, Hindalco, Siemens and M&M are in negative terrain.

The Sensex surged 225 points to 9,291 and the Nifty gained 62 points at 2,828, at 2:28 hours IST. BSE Midcap and Small cap indices are almost flat.

Market breadth is weak; about 1267 shares have advanced while 1414 shares declined. Nearly 300 shares are unchanged.

BSE Oil & Gas index rose 2.9%. Bankex, FMCG, TECK, IT, Capital Goods, Metal and Power indices gained 1-2%.

Spice Communication shot up nearly 8% and got recovered 50% from day's low of Rs 56.

Shree Renuka Sugars said promoters have pledged 2.28 crore shares or 8.26% equity. The stock gained marginally by 1.7%. As on December, promoter holding is at 41.8%.

BHEL jumped nearly 4%, as the company head is expecting Rs 3000 crore order from NTPC today.

Aban Offshore rose 2.33%. The company said promoters have pledged 8% equity and promoter holding is at 60.8% as on December 31.

On the global front, European markets are trading higher. FTSE went up 0.4%. CAC and DAX gained 0.8-0.9%.

Markets @ 1:30 pm : Mkts northbound; Nifty hovers around 2800 mark

The benchmark indices have managed to hold on to gains on the back of support from shares of telecom, oil & gas exploration, capital goods, cement, technology, FMCG, select metal and banking stocks. However, DLF, NTPC, Tata Motors, SBI, Hindalco, Tata Power and M&M are still under pressure. There is still some bit of volatility in the markets.

The Sensex gained 144 points at 9,211 and the Nifty rose 38 points to 2,805, at 1:30 hours IST. BSE Midcap and Small cap indices are flat.

The market breadth is in favour of declines: about 1,270 shares have advanced while 1,405 shares declined. Nearly 306 shares are unchanged.

Ganesh Housing said have pledged 98 lakh shares (30% equity) with ICICI Bank, the stock fell 3.5%.

Polaris Software surged over 22% with 400% jump in volumes.

BSE Oil & Gas index went up 2.6%. FMCG, Capital Goods, IT and Bankex rose 1-1.8%.

However, Realty Index tumbled 5%. DLF tumbled 10% and hit a new 52-week low of Rs 135.65. There is slight jump of 71% in volumes compared to 5-day average volumes.

On the global front, European markets are almost flat. FTSE slipped just 0.06% at 4,075. However, CAC gained 0.35% at 2,940 and DAX up 0.34% at 4,285.

Markets @ 12:24 pm : Mkts witness buying interest; ONGC, RIL, Bharti, BHEL up

The benchmark indices are trading higher amid volatility. The support is coming from cement, private banks, FMCG stocks as well as ONGC, Reliance Industries, Bharti Airtel, BHEL, TCS, Maruti and Sterlite Industries. However, selling pressure still continues in DLF, NTPC, Infosys, SBI, Tata Motors, Tata Power, Suzlon Energy, Tata Steel, M&M, Reliance Capital and Hindalco.

The Sensex went up 69 points to 9,136 and the Nifty gained 18 points at 2,784, at 12:24 hours IST. However, BSE Midcap and Small cap indices fell 0.4% each.

Cairn India got Rajasthan government nod to lay crude pipeline. The stock gained 1.6%.

Bharat Forge went up 2%, as Baba Kalyani said 40% of Bharat Forge revenue to come from non-auto business in 2010.

Market breadth is weak; about 1181 shares have advanced while 1482 shares declined. Nearly 318 shares are unchanged.

On the global front, Asian markets are mixed. Nikkei and Hang Seng went down 0.6% each. However, Shanghai, Taiwan and Kospi rose 1.4-2.6%. Straits Times gained just 0.25%.

Markets @ 11:27 am : Mkts see-saw; realty, power, Infy, SBI, L&T, Tata Motor dip

The benchmark indices are witnessing a choppy trade, as realty, power stocks and stocks like Tata Motors, Infosys, SBI, Ranbaxy Labs, HDFC, Reliance Communication, Hindalco, L&T, Tata Steel, M&M and Idea are under pressure. On the other side, ONGC, ITC, BHEl, Bharti Airtel, HUL, TCS, Wipro, Grasim, ACC and Maruti are supporting the markets a bit.

The Sensex went down just 10.75 points at 9,055 and the Nifty lost 2.3 points at 2,764, at 11:27 hours IST. BSE Midcap and Small cap indices went down 0.5-0.8%.

Market breadth is in favour of declines due to weak broader indices; about 1148 shares have advanced while 1486 shares declined. Nearly 344 shares are unchanged.

DLF slipped over 7% and hit a new 52-week low of Rs 141.10.

Bilpower lost nearly 5%, as the promoter pledged 11.05% stake.

Asian markets also come off a bit from higher levels and are trading slightly mixed. Nikkei slipped into red, down 0.5%. However, Shanghai, Hang Seng, Straits Times and Kospi gained 0.6-1.65%. Taiwan rose 2.65%.

Markets @ 10:30 am : Mkts trading higher amid volatility; O&G, CG support

The benchmark indices have come off a bit from higher levels, but are still trading higher led by buying in oil & gas, capital goods, metal, banking, technology and telecom stocks. There is a bit of volatility as well. Midcap and small cap indices are quiet. Positive Asian markets are also being supportive to our markets.

The Sensex gained 89 points at 9,156 and the Nifty went up 25 points to 2,791, at 10:30 hours IST. BSE Midcap and Small cap indices are flat.

Among the frontliners, DLF, SBI, Ranbaxy Labs, Tata Motors, Tata Power, Hindalco, Infosys and Reliance Capital are under pressure. However, Reliance Industries, ONGC, Bharti Airtel, TCS, SAIL, BHEL, HUL, NTPC, Wipro, ICICI Bank, L&T and HDFC Bank are still supporting the markets.

Market breadth is mixed due to no major movement in broader indices on either side; about 1329 shares have advanced while 1311 shares declined. Nearly 337 shares are unchanged.

On the global front, Asian markets are trading higher though they also came off a bit from higher levels. Taiwan went up 3%. Shanghai, Kospi and Nikkei gained 1-1.6%. Hang Seng and Straits Times rose 0.6% each.

Markets @ 9:56 am : Mkts bounce back on +ve Asian cues; Nifty back above 2800

The markets have bounced back after a sharp sell-off on Monday following positive cues from Asian markets. Buying is seen in most beaten-down stocks like infrastructure, realty, banking, metal and power.

At 9:56 am, the Sensex went up 137 points to 9,204 and the Nifty gained 40 points at 2,807. CNX Midcap rose 27 points to 3,334.

Among frontliners,  Unitech, ICICI Bank, Suzlon Energy, Reliance Communication, HDFC, L&T, Reliance Power, HDFC Bank, Reliance Infrastructure, Maruti, Reliance Industries, Reliance Capital, PNB and SAIL are gainers while Tata Motors, M&M, Hindustan Unilever and Nalco are losers.

Educomp Solutions slipped a further 10% after trading with a 400-point discount on Monday. Spice Communication plummeted 24% after a sharp run-up in the previous two trading sessions but managed to recover a bit and trading with a loss of 8%.

Reliance Communication gained just 2%, as the company is in talks with American Tower, Crown Castle for sale, as per sources. In that, the company is close to 5-10% stake sale in tower unit.

Varun Shipping went up 4%, as 2 crore shares changed hands on NSE at Rs 47.75/sh in a block deal. This block deal is likely to be intra-promoter transfer.

Asian markets are trading higher on back of second Australian stimulus package and expectation of petrochemical package in China. Taiwan, Kospi and Nikkei went up 2.13-2.77%. Hang Seng and Shanghai gained 1.2-1.4%. Straits Times gained 0.58%.

US markets traded choppy on reports of possible delay of bad bank plan. There are reports that Barack Obama administration will not unveil new measures this week as had been expected, instead the issue of Wall Street bonuses will be addressed.

Dow Jones ended 64 points down at 7,937 and Nasdaq was up 18 points at 1,495. S&P 500 ended flat at 826.

Crude oil ended down nearly 3.5% at around $ 40/bbl but still holds above USD 40 per barrel. It is currently trading at USD 40.55 per barrel. OPEC slashed 3.5% output in January and China fuel imports in Jan declined 55% at 1.2 million tonnes. US fuel demand went down 7.7% year-on-year.

In the precious metals space, Gold declined most in 3 weeks on profit taking and was down $25 at around $900/ounce.

Market cues:

FIIs net sell USD 4.1 million in equity on January 30

MF net buy Rs 534.5 crore in equity on January 30

MFs have bought equities worth Rs 1,540 cr in last 3 days

NSE F&O Open Int down by Rs 300 crore to Rs 41,049 crore

F&O cues:

Major unwinding seen yesterday, post huge build up on 1st day of series

Nifty ends down 3.7%; Open Int down 4.5%

Total Futures Open Int down by Rs 1585 crore

Total Options Open Int up by Rs 1,285 crore

Nifty Feb Futures discount at 31 pts versus 7 pts a day ago

Stock Futures shed 3 crore shares in Open Int after adding 7.5 cr shares a day ago

Nifty Open Int Put-Call ratio slides to below 1 at 0.99 versus 1.21

Nifty Calls add 43.5 lakh shares in Open Int, Puts shed 11.8 lakh shares in Open Int

Nifty 2800 Put sheds 7.8 lakh shares in Open Int

Nifty 2700 Put sheds 6.8 lakh shares in Open Int

Nifty 2800 Call adds 16.7 lakh shares in Open Int

Nifty 3000 Call adds 7.9 lakh shares in Open Int

Nifty 2900 Call adds 7 lakh shares in Open Int