Sensex +ve amid volatility; banks, IT, realty, power up

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Nifty volatile ahead of July expiry; metals, realty dip

The Nifty opened on a weak note following negative cues from the Asian markets. But both the equity benchmarks turned extremely volatile ahead of F&O expiry. Commodities and real estate stocks slipped in the early trade.

At 9:56 am, the Nifty lost just 9  points, to 4,503 and the Sensex fell 9 points, to 15,164. The broader indices were flat in trade.

Among the frontliners, Cairn (post numbers), Tata Steel (post numbers), PNB, SAIL (ahead of numbers), Suzlon Energy (post Hansen numbers), Reliance Industries, Nalco, Sterlite, ITC, ONGC, DLF (ahead of numbers), Unitech and L&T were under pressure.

However, Hero Honda was up 1.5% post numbers. Power Grid (post numbers), Reliance Power, SBI, Infosys and HDFC were the other gainers.

Midcap space 

Hexaware Tech, RNRL, Great Offshore, ABG Shipyard (4% up), Bharati Shipyard, Provogue India, TVS Motor and Gammon India were under pressure. UCO Bank was up 1.5% ahead of numbers.

EID Parry surged 5.5% and Rico Auto was up 5.5% as well.

Patni Computer surged 3% on good numbers. VIP was up 11.5% adn Maytas Infra rose 3%.

Global cues:

Asian markets were trading lower. Shanghai, Hang Seng, Kospi and Taiwan Weighted fell 0.5-1%. Nikkei and Straits Times declined 0.3% each.

The US markets ended flat. Commodities slid post China growth worries. CRB (Commodity Research Bureau) Index was down 2.7% while Dollar Index up 1%.

The Dow Jones Industrial Average was down 26 points at 9,070. The S&P 500 Index fell 4.5 points to 975 and the Nasdaq Composite lost 7.8 points at 1,967.7.

Commodities:

Reuters CRB declined 2.7% to 243.5, worst single-session performance in three months.

Crude oil fell 5.8% at $63.35/share after large increase in crude inventories last week.

Gold declined 1.3% to $927.20, at 2-week lows.

Copper was down 2%, Aluminium down 1.8%, Nickel down 2.5% and Zinc down 3%.

Market cues:

-Derivative volumes at 1.16 lakh crore mark, liquidity facilitates rollovers
-FIIs net buy USD 153 million in equity on July 28
-MFs net buy Rs 132.6 crore in equity on July 28
-NSE F&O Open Int down by Rs 553 crore at Rs 95,626 crore
-FII turnover as a % of Total F&O turnover at 25.5% vs 27.7%
-FIIs net sell Rs 168 crore in cash markets on July 29 (Prov)
-DIIs net buy Rs 126 crore in cash markets on July 29 (Prov)
-FIIs net sell Rs 1659 crore in F&O on July 29

F&O cues:

-Stock Futures shed 1.8 cr shares in Open Int
-Futures Open Int up by Rs 105 crore and Options Open Int down by Rs 659 crore
-Nifty July Futures shed 46.7lakh shares in Open Int
-Nifty Aug Futures add 63.7 lakh shares in Open Int
-Nifty Aug Futures at 9-pt prem versus 10-pt prem
-Nifty IVs at 34-37%
-Nifty Open Int Put Call Ratio at 1.29 versus 1.31
-Nifty Puts shed 13.5 lakh shares in Open Int
-Nifty Calls shed 3.7 lakh shares in Open Int
-Nifty July 4500 Call adds 4 lakh shares in Open Int
-Nifty August 4700 Call adds 3.9 lakh shares in Open Int
-Nifty August 4400 Put adds 3 lakh shares in Open Int
-Nifty August 4300 Put adds 3 lakh shares in Open Int
-Nifty July 4400 Put sheds 7.8 lakh shares in Open Int