Sensex ends marginally lower amid volatility; autos rally

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 recovers on Bharti, Infy, TCS, L&T, SBI support

At 14:39 hours IST, the Nifty showed smart recovery led by buying in telecom, technology, auto, realty, oil marketing and select banking companies' shares but was still hovering around the 5,100 mark. There was a bit of volatility as selling continued in power, FMCG, oil & gas exploration and select metal stocks. Among the others, BHEL, ICICI Bank, HDFC and Grasim were the losers while L&T, Ambuja Cements and Cipla were the gainers.

The markets reported total turnover of Rs 88,000 crore so far, which included Rs 73,000 crore from the F&O segment. The Sensex fell 10 points to 17,170 and the Nifty was down just 3 points at 5,100.

Reliance Industries trimmed its losses and was down 0.5% and ONGC was still down 1%. However, BPCL gained 2.5% in the oil & gas space.

In the banking space, SBI was flat in trade, post recovery. ICICI Bank reduced losses to 0.6% from over 1%. Other banking stocks were flat. HDFC, Reliance Capital and IDFC were still down over 1-2%.

Technology stocks were seeing buying interest; Infosys was up 1.3%. TCS gained 0.8% and Wipro was up 0.33%.

Bharti Airtel rose 2.4% and Reliance Communications was up 1%. Idea Cellular was flat.

Auto stocks continued to gain; Maruti, Hero Honda and M&M gained 2-2.6%. Tata Motors was up 1%.

In the midcap space, Gujarat Flourochem, Bharat Forge, Bajaj Hindusthan, Motherson Sumi and Balrampur Chini were up 5.5-8.7% while KGN Industries, Jubilant, SKF India, Sobha Developer and Edelweiss Capital slipped 3.5-5%.

In the smallcap space, Grindwell Norton locked at 20% upper circuit. Tata Coffee, Geometric, Esab India and HEG went up 9-13% while Cambridge Solutions, Jindal Worldwide, Mastek, Ruchinfra and Lloyds Metals lost 4-7%.

On the global front, European markets were down over 0.5% and US index futures declined 0.4%.

Sensex trades lower on weak European cues; heavyweights dip

At 13:28 hours IST - the Nifty was witnessing selling pressure amid volatility. Telecom and realty stocks were supporting the markets along with Infosys and L&T. However, selling continued in oil & gas exploration, banking, power, metal, FMCG and select cement stocks. BHEL and HDFC were other losers in trade.

On the global front, Shanghai dipped 3.45% as Morgan Stanley said monetary conditions remained very loose in China and does not expect aggressive government tightening until 2011. It sees asset price appreciation in China to continue. Among other Asian markets, Hang Seng was down 1.5% and Nikkei down 1%. Straits Times, Jakarta and Kospi fell 0.4-0.8%. However, Taiwan Weighted gained 0.4%.

European markets opened one percent lower.

The Sensex slipped 68 points to 17,111 and the Nifty declined 24 points to 5,079. The Nifty November future was trading in discount while December future was trading with 8 points premium.

The market breadth was marginally negative; about 1,381 shares advanced while 1,445 shares declined on the BSE. Nearly 607 shares were unchanged. The broader indices were flat.

In the largecap space, Mahindra & Mahindra topped the list with 3% gain. Next on the list were Matuti Suzuki, Hero Honda, Bharti Airtel and Tata Motors up more than 2% each. However, IDFC, Jindal Steel, Reliance Infra, ITC and Sterlite Industries were down 2-3%.

Reliance Industries, ONGC, ICICI Bank, ITC, HDFC, TCS and SBI were major draggers.

Newly listed Den Networks was quoting at Rs 150.75, down Rs 44.25, or 22.69% as against issue price of Rs 195.

Top gainers on the BSE Midcap: Gujarat Flourochem, Max India, Videocon Industries, Bajaj Hindusthan and Balrampur Chini were up 5-9%.

Top losers on the BSE Midcap: KGN Industries, GMDC, Sobha Develpoers, National Fertilisers and Exide Industries were down 4-5%.

Top gainers on the BSE Smallcap: Grindwell Norton, Tata Coffee, JMC Projects, Esab India and Eveready Industries were up 8-20%.

Top losers on the BSE Smallcap:,Sanwaria Agro, Cambridge Solution, Tata Sponge Iron, SpiceJet and Lloyds Metals were down 4-8%.

Nifty slips below 5100; banks, oil & gas, metals decline

The Sensex slipped further amid volatility on the back of profit booking in oil & gas exploration, banking, metal, power, FMCG, capital goods and select cement stocks. The Nifty was trading below the 5,100 mark while the Sensex remained above the 17,000 level. However, buying in auto, realty and select telecom stocks capped the losses to some extent.

On the global front, Asian markets were trading lower. Shanghai slipped over 3% and Nikkei was down over 1%. Hang Seng, Jakarta, Straits Times and Kospi fell 0.2-0.8% while Taiwan gained 0.4%.

In the largecap space, auto stocks were holding the Sensex. Four wheelers leader Maruti Suzuki was the top gainer with more than 3% gain. Auto stocks like Mahindra & Mahindra, Hero Honda, Tata Motors were up 2% each. Bharti Airtel, which was down more than 3% yesterday, saw some buying interest in today's trade. On the losing side, Reliance Infra was down more than 2%. Banking & Financial stocks were reeling under pressure.  HDFC, HDFC Bank & ICICI Bank were down more than 1%.

BHEL bagged order worth Rs 5,600 crore from UP power plant. The stock was trading flat.

Sources told CNBC-TV18 that Infosys is in talks to acquire Ciber Novasoft. The deal value is likely to be between USD 200-300 million. Infosys was trading marginally in the red.

Top gainers on the BSE Midcap: Gujarat Flourochem, Videocon Industries, Peninsula Land, Max India and Bajaj Hindusthan were up 5-10%.

Top losers on the BSE Midcap: KGN Industries, GMDC, Asian Star, Exide Industries and SKF India were down 3-5%.

Top gainers on the BSE Smallcap: Grindwell Norton, Esab India, Tata Coffee, Geometric & Jyothy Labs were up 8-20%.

Top losers on the BSE Smallcap: HBL Power, SpiceJet, Cambridge Solution, Tata Sponge Iron & Lloyds Metals were down 4-5%.

Nifty hovers around 5100; auto, telecom, realty, SBI up

At 11:01 hours IST, the Nifty was consolidating at its previous closing value as traders looked cautious post two-day rally. Shares of telecom, realty, auto and oil marketing companies were seeing buying interest, which capped the losses to some extent. SBI, Cipla and Wipro were the other gainers.

However, oil & gas exploration, private banking, FMCG, power, capital goods and select metal stocks were witnessing selling pressure.

The Sensex was up just 2 points at 17,182 while the Nifty fell 1 point to 5,102. The Nifty November future was trading with 4-5 points discount.

In the telecom space, Tata Communications and Bharti Airtel gained 2-2.5%. MTNL and Reliance Communications were up 1.4-1.8%. Idea Cellular was up 0.61% and Tata Teleservices up 0.38%.

Maruti Suzuki rose 3.5%. M&M, Hero Honda, Tata Motors and Bajaj Auto went up 1.5-2.8% in the auto space. Ashok Leyland was up 0.76%.

In the realty pack, Peninsula Land, Parsvnath and Omaxe were up 2-4.6%. Unitech, DLF, HDIL, Orbit Corporation, Mahindra Life, Ansal Properties and Indiabulls Real moved up 0.8-1.5%. The Department of Industrial Policy and Promotion (DIPP) has proposed the removal of the three-year lock-in for foreign direct investment (FDI) in realty, sources told CNBC-TV18.

Sandeep Bhatia, ED and Head of Sales of Kotak Institutional Equities expected consolidation in telecom space by 2010-end. He said ITC could outperform in short-term while the stock could see some headwinds around budget time. He also expected banks to report good growth in H2.

The market breadth was positive; about 1,653 shares advanced while 1,137 shares declined on the BSE. Nearly 643 shares were unchanged.

In the midcap space, Gujarat Flourochem, Videocon Industries, Piramal Health, Peninsula Land and Carborundum gained 4.5-6.5% while KGN Industries, Asian Star, GMDC, SKF India and Exide Industries slipped 2-5%.

In the smallcap space, Grindwell Norton shot up 20%. Tata Coffee, Hikal, Geodesic and Voltamp Transformers were up 7-13%. However, Lloyds Metals, Cambridge Solutions, MVL and Tata Sponge Iron declined 3.6-4%.

On the global front, Asian markets were mixed in trade. Shanghai and Taiwan Weighted were marginally in the green. However, Nikkei and Kospi declined 0.9% each. Hang Seng, Jakarta and Straits Times were modestly in the red.

Sensex consolidates after two-day rally; realty gains

The Sensex started the day on a flat note with negative bias. It was seeing consolidation after two days of rally. Oil & gas exploration, private banking, cement and select power stocks were under pressure while realty, auto, telecom and pharma stocks were witnessing buying interest.

At 9:56 am, the Sensex fell 8 points to 5,095 and the Sensex slipped 25 points to 17,152. However, the CNX Midcap was up 11 points at 7,204. About 464 shares advanced while 307 shares declined on the NSE. 

Among the frontliners, IDFC, ICICI Bank, HDFC Bank, HDFC, ACC, Sterlite Industries, Hindalco, Reliance Industries, Power Grid, L&T, HDFC and Grasim were seeing selling pressure.

However, Unitech, Wipro, Cipla, Maruti, Hero Honda, Bharti Airtel, Sun Pharma, Ranbaxy Labs, BPCL and DLF were the gainers in the early trade.

Den Networks lost 17% to Rs 160 as against its issue price of Rs 195 per share.

Midcap space:

Vishal Retail fell 3.5% and GMDC lost 2%.

However, IVR Prime was up 5%; Mahindra Forgings was up 6.4% and NIIT Tech was up 1.5%.

Bajaj Hindusthan, Balrampur Chini, Shree Renuka Sugars and Triveni Engg were flat in trade.

Global Cues:

Asian markets were trading mixed. Hang Seng, Nikkei, Jakarta and Kospi slipped 0.5-1%. Straits Times was down 0.1%. However, Taiwan Weighted and Shanghai were marginally in the green.

The US markets gained after existing home sales strongest in 2 1/2 years and dollar index was down 0.7%.

The Dow Jones Industrial Average ended up 133 points or 1.3% at 10,451, which came off 45 points from day's high of 10,495.

The Nasdaq Composite ended up 30 points or 1.4% at 2,176, which came off 14 points from day's high of 2,190. The S&P 500 Index ended up 15 points or 1.36% at 1,106, which came off 6 points from day's high of 1,112.

US existing home sales jumped 10.1% in October, strongest in 2 1/2 years (market expected 2.3%).

Commodities

Reuters CRB Index was up 1.5%.

Crude oil was up 0.2% at $77.56/bbl, which hit $79.92 during the day.

Gold was up 1.5% at $1164/ounce after hitting a new record at $1,173.5/ounce.

Copper rose 2% at $6950/tonne, at 14-month high.

Lead was up 1.8% & Zinc up 1%.

Baltic Dry Index fell 1.8%.

Market cues:

-FIIs net sell USD 27 million on November 20
-Total F&O Open Interest up by Rs 1963 crore at Rs 1,14,957 crore
-FIIs net sell Rs 168 crore in Cash on November 23 (prov)
-DIIs net buy Rs 132 crore in Cash on November 23 ( prov)
-FIIs net buy Rs 394 crore in F&O on November 23

F&O cues:

-Total Futures Open Int up by Rs 1087 crore
-Total Options Open Int up by Rs 876 crore
-Nifty up 1%, Futures Open Int up 1%
-Nifty Dec Futures trading at 14-pt premium
-Nifty IVs at 23-26%
-Nifty Open Int PCR at 1.65 versus 1.57
-Nifty Calls shed 10 lakh shares in Open Int
-Nifty Puts add 22 lakh shares in Open Int
-Nifty Nov 5000 Put adds 10.2 lakh shares in Open Int
-Nifty Nov 5100 Put adds 4.5 lakh shares in Open Int
-Nifty Nov 5200 Put adds 3.8 lakh shares in Open Int
-Nifty Nov 5000 Call sheds 8 lakh shares in Open Int
-Stock Futures add 1.2 cr shares in Open Interest