Sensex consolidates; RIL, SBI, ICICI Bank, SAIL, NTPC gain

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?

Sensex erases early gains; telecom, FMCG, realty down

 At 12:59 hours IST, The Sensex erased early gains and turned into choppy trade, as traders seemed cautious after four days of rally. Selling in telecom, realty, FMCG, capital goods and select metal stocks was putting pressure on the markets. Heavyweight ONGC & Infosys and auto stocks like Maruti and Hero Honda were other losers.

 

However, buying continued in banking, cement and oil marketing companies' shares. Reliance Industries, NTPC, Cipla, Tata Motors, M&M and SAIL were other gainers.

 

Nissan Renault CEO Carlos Ghosn says the company signed deal with Bajaj Auto for ultra low-cost car. Bajaj Auto stock was up 0.52%.

 

Tata Chemical acquires 9.8 lakh Rallis shares at Rs 908.5/sh via preferential allotment. The company hikes stake in Rallis to 50.06% from 45.97%. Rallis was up 3.3%.

 

Top gainers in the BSE Midcap: Jai Corp up 11.95%; Hind Oil Explor up 10.00%; Engineers Ind up 9.34%; HMT up 6.82%; Guj Gas up 4.68%.

 

Top losers in the BSE Midcap: Indiabulls Real down 5.5%; Educomp Solution down 4.59%; Central Bank down 3.88%; Thomas Cook down 3.54%; AstraZeneca down 3.53%. 

 

Top gainers in the BSE Smallcap: Hind Motors up 14.25%; TIL up 10.35%; IVR Prime up 9.98%; Indo Tech Trans up 9.46%; Brigade Enterp up 8.08%.

 

Top losers in the BSE Smallcap: Nagarjuna Agric down 5.42%; HBL Power down 5%; Rollatainers down 4.98%; JMD Telefilms down 4.98%; Kirloskar Ferro down 4.89%.

 

Nifty choppy with positive bias; RIL, SBI, ICICI Bank lead

 

 At 12:19 hours IST, the Sensex has gained strength again but it was still witnessing some volatility. Banking, power, cement and select metal stocks were seeing buying interest. Heavyweight Reliance Industries rose 2.5%, as the company announced its first oil discovery in its exploration block in the Cambay Basin off Gujarat, wherein it holds 100% participating interest.

However, selling continued in Bharti Airtel, BHEL, Hero Honda, Maruti, Infosys, HUL, Jaiprakash Associates, Sun Pharma, Hindalco and ONGC, which capped the gains.

The Sensex rose 81 points to 16,579 and the Nifty went up 26 points at 4,924. The broader indices were outperforming the benchmark indices by small margin, up 0.9% each.

In the largecaps, Tata Motors, M&M, ACC, Reliance Industries, Reliance Infrastructure, Ambuja Cements, SBI and ICICI Bank were up 1.8-3.6%.

The market breadth was positive; about 1,818 shares advanced while 1,134 shares declined. Nearly 814 shares were unchanged.

In the midcap space, Jai Corp surged 12.53% and Hindustan Oil Exploration gained 10%. Engineers India, HMT and Gujarat Gas were up 6-9.5%. However, AstraZeneca, Thomas Cook, Sun Pharma Advanced, Central Bank and Educomp Solutions fell 2.6-3.6%.

In the smallcap space, Hindustan Motors, Sundaram-Clayton, Nahar Spinning, Brigade Enterprises and Sarasind went up 8-15.7% while Lloyds Metals, Geekay Finance, JMD Telefilms, Nagarjuna Agri and HBL Power slipped 4-5.7%.

Tata Chemicals acquired 9.8 lakh Rallis' shares at Rs 908.5/share via preferential allotment and hiked stake in Rallis to 50.06% from 45.97%.

Nagarjuna Construction has received five orders worth Rs 722 crore. The stock was flat.

Sensex volatile; banks, cement up, BHEL, Bharti, L&T dip

At 11:08 hours IST, the Sensex was trading marginally higher along with some volatility and was hovering around the 16,600 level while the Nifty stayed above the 4,900 mark. ADAG (Anil Dhirubhai Ambani Group) and Mukesh Ambani group companies' shares were seeing buying interest as there were reports that both brothers may be looking for out-of-court settlement. But RNRL in a statement to the exchanges said rumours of out-of-court settlement were baseless and speculative.

Reliance Industries was up 2.5%, as the company announced first oil discovery in Cambay Basin, wherein RIL holds 100% participating interest. Reliance Infrastructure, Reliance Power and Reliance Capital gained 1-2%. RNRL was up 3.7%.

Banking, cement and select power stocks were seeing buying interest while capital goods, FMCG stocks, and heavyweight Bharti were under pressure. There was a mixed trend in auto and metal stocks.

The Nifty went up 17 points to 4,915 and the Sensex gained 61 points at 16,560. The broader indices were up 0.5-0.8%, as the market breadth was positive. About 785 shares advanced while 421 shares declined on the NSE. However, the Nifty November future was trading with 8 points discount.

Reliance Industries, SBI, ICICI Bank, Tata Motors, Wipro and ACC were leading counters while BHEL, ONGC, Bharti Airtel, Maruti, Hero Honda, L&T, DLF and Tata Steel were losers.

Lanco Infratech will invest Rs 1,300 crore for setting up 150 MW polysilicon unit in Orissa. The stock was flat.

Siemens gained 2%, as it bagged order worth Rs 608 crore from Qatar General Electricity.

Alstom Projects went up 2.6%, as it received order worth Rs 365 crore from Hindalco.

Nifty trades above 4900 on positive global cues

The Sensex opened on a positive note following good global cues led by 2% rally in the US markets. The equity benchmarks continued the rally for the fifth consecutive day and the Nifty was trading above the 4,900 level. Metal, banking, realty and select infrastructure stocks were seeing buying interest.

At 9:56 am, the Sensex gained 131 points at 16,629 and the Nifty was up 37 points at 4,935. The CNX Midcap went up 57 points to 7,032. About 650 shares advanced while 75 shares declined on the NSE. 

Anil Dhirubhai Ambani Group as well as Mukesh Ambani companies' shares were trading 1.5-4% higher on the rumours that Ambani Brothers looking for out-of-court settlement, as per the newspaper report.

Among the frontliners, Sterlite, SAIL, Ranbaxy Labs, Reliance Infrastructure, HDFC Bank, ICICI Bank and Reliance Industries were the gainers.

Midcap space:

Brigade Enterprises, Orbit Corporation and RNRL were up 2-3%.

Bank of Rajasthan and Indian Bank moved up 3.5%.

NMDC rallied another 10% as Cabinet may take up NMDC divestment next month.

Maytas Infra lost 4%, as the company may withdraw from Rs 1,590 crore Machilipatnam port project.

Gateway Distriparks gained 4.6%.

Jai Corp jumped 12.5%, which locked at 20% upper circuit on Monday.

Global Cues:

Asian markets were trading higher. Nikkei was up 1.4% and Hang Seng was up 1%. Shanghai, Jakarta, Straits Times, Kospi and Taiwan Weighted gained 0.3-0.7%.

The US markets rallied after G-20 and Geithner says will continue stimulus measures. The Dow Jones Industrial Average hit 13-month high and closed up 203.5 points or 2% at 10,227. US dollar fell to a 15-month low.

The S&P 500 has recovered 6.12% in last 6 trading sessions and was 7 points short of 2009 high at 1,100. It closed up 24 points or 2.2% at 1,093. The Nasdaq Composite rose 41.6 points or 2% at 2,154.

Commodities:

Reuters CRB Index gained 1.7%.

Crude oil was up 2.6% at $79.43/bbl.

Gold ended up 0.5% at $1101.4/ounce, after hitting new all-time high of $1111.7/ounce during the day.

Copper was up 1% at $6540 onne and Aluminum was at 1 week highs.

Baltic Dry Index was up 2.5%.

Market cues:

-FIIs net buy USD 148.7 million on November 6
-MFs net buy Rs 182 crore on November 6
-Total F&O Open Interest up by Rs 4,028 crore at Rs 94,826 crore
-FIIs net buy Rs 478 crore in cash on November 9 (Prov)
-DIIs net sell Rs 287 crore in cash on November 9 (Prov)
-FIIs net buy Rs 800 crore in F&O on November 9

F&O cues:

-Total Futures Open Interest up by Rs 2,194 crore, Total Options Open Interest up by Rs 1834 crore
-Nifty Puts Add 50.2 lakh shares in Open Interest, Nifty Calls Shed 15.2 lakh shares in Open Interest
-Nifty Open Interest PCR at 1.42 versus 1.26
-Nifty futures trading 5 pt premium versus 6 pt discount
-Nifty IVs at 26-30% levels
-Nifty 4800 Put Adds 18.7 lakh shares in Open Interest
-Nifty 4900 Put Adds 13.8 lakh shares in Open Interest
-Nifty 4700 Put Adds 10 lakh shares in Open Interest
-Nifty 4900 Call Sheds 8.2 lakh shares in Open Interest
-Nifty 4800 Call Sheds 7.9 lakh shares in Open Interest
-Stock futures add 2 cr shares in Open Interest