Sensex erases early gains; telecom, FMCG, realty down

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 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