Sensex recovers most of Tuesday's losses; heavyweights lead

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Sensex strengthens further; realty, tech, FMCG, banks gain

At 10:58 hours IST, the Sensex strengthened further. Positive Asian markets were supportive while buying in technology, banking, realty, FMCG, oil & gas exploration, cement and select auto stocks was helping as well. The Nifty has tested the 4650 level as well.

Among the Asian markets, Hang Seng, Kospi and Taiwan Weighted gained 1.3-1.7%. Shanghai, Jakarta and Straits Times went up 0.7% each. Nikkei was marginally in the green.

The Sensex rose 287 points to 15,692 and the Nifty gained 82 points at 4,646. Among the broader indices, the BSE Midcap Index rose 1.6% and the Smallcap Index up 0.7%, as about 750 shares advanced while 429 shares declined on the NSE.

All the sectoral indices were in the green barring power. The BSE Realty Index was the major loser in the last six days, which shot up 4.8%. IT, Oil & Gas, TECk and Bank indices moved up 2-3%.

Technology stocks like Infosys, HCL Tech, TCS and Wipro were up 2.4-3.9%.

In the banking space, ICICI Bank shot up 4%. PNB, Axis Bank, Kotak Mahindra, SBI and HDFC Bank gained 0.9-2.4%.

Realty stocks like Indiabulls Real surged 9%. Unitech and DLF went up 4% each.

In the FMCG pack, ITC, HUL, United Spirits, Tata Tea, Marico and Dabur India were up 0.9-2.5%.

Auto stocks like Bharat Forge, Ashok Leyland, Bajaj Auto, Maruti Suzuki, Tata Motors, M&M and Hero Honda gained 0.7-2%.

In the midcap space, Indiabulls Real, Amtek Auto, United Breweries, HDIL and Torrent Power surged 5.5-7.5% while KGN Industries, Hindustan Oil Exploration, Andrew Yule, Maharashtra Seamless and Spice Communication fell 2.5-4.5%.

In the smallcap space, Agro Tech Foods, SREI Infra, Indiabulls Securities, Bliss GVS and Bilcare went up 6-8% while Shree Ram Urban, Webel SL Energy, Prime Securities, Gayatri Project and Panacea Biotec declined 5-10%.

Nifty bounces back; RIL, Bharti, ICICI Bank, Infy, TCS lead

The Sensex bounced back after six days of losses on the back of positive Asian cues. Buying was seen in high beta stocks. Telecom, realty, banking, select metal and technology stocks were the gainers in the early trade. The Nifty clawed back above the 4,600 mark.

At 9:56 am, the Sensex rose 169 points to 15,574 and the Nifty went up 51 points ot 4,614. The CNX Midcap gained 105 points at 6,490. The market breadth was positive; about 666 shares advanced while 148 shares declined on the NSE.

Among the frontliners, Hindalco, Unitech, Suzlon Energy, Jaiprakash Associates, Sterlite, DLF, ICICI Bank, Axis Bank, IDFC, Reliance Industries, M&M, Bharti Airtel, Idea, Reliance Communications, HCL Technologies and Infosys were the gainers.

However, selling in Hero Honda, ABB (on disappointing quarterly numbers), Tata Power, ITC, HUL, GAIL and Siemens capped the gains to some extent.

Midcap space:

Bombay Rayon Fashions gained 4%. Mahindra Satyam shot up 5% as the company signed $400 million outsourcing deal with SAAB.

Indiabulls group stocks bounced back after sharp sell-off. Indiabulls Securities and Indiabulls Real were up over 6-7.5%. Indiabulls Financial gained 4%.

Educomp Solutions was up 4%.

Balrampur Chini was up 3% and Bajaj Hindusthan gained 6% as UP government temporarily banned import of raw sugar, reports CNBC-TV18 quoting agencies.

Global cues:

Asian markets were trading higher. Hang Seng rose 1.77% and Taiwan Weighted gained 1.6%. Shanghai, Straits Times, Kospi and Jakarta went up 0.6-0.8%. Nikkei was flat. SGX Nifty rose over 1%.

The US markets recovered from the day's low to end flat. Commodities gained as USD pared its early gains.

The Dow Jones Industrial Average ended down 17.5 points at 9,772, after seeing recovery of 68 points from day's low of 9,704.

The Nasdaq Composite ended up 8 points at 2,057, after seeing recovery of 26 points from day's low of 2,031. The S&P 500 Index ended up 2.5 points at 1,045, after seeing recovery of 10 points from day's low of 1,035.

Commodities:

The Reuters CRB Index was up 1%.

Crude oil gained 2% to $79.6/bbl.

Gold was up 3% at $1084.5/ounce, hit all-time high at $1088.5/ounce.

Copper lost 1.5% to $6460/tonne.

Market cues:

-FIIs net buy USD 157 million in cash on October 30
-FIIs net buy Rs 114.8 crore in cash on October 30
-Total F&O Open Int up by Rs 2,950 crore at Rs 84,576 crore
-FIIs net sell Rs 874 crore in Cash on November 3
-DIIs net buy Rs 752 crore in Cash on November 3
-FIIs net sell Rs 567 crore in F&O on November 3

F&O cues:

-Total Futures Open Int down by Rs 743 crore
-Total Options Open Int up by Rs 3693 crore
-Nifty down 3.1%, Futures Open Int up 8% (Huge short buildup in last 1 hour)
-Nifty Nov futures trading at a 5 pt discount
-Nifty PCR ratio down from 1.13 to 1.03
-Nifty IVs at 29-30% versus 25-27% 
-Nifty Calls add 53.8 lakh shares in Open Int, Nifty Puts add 18.4 lakh shares in Open Int
-Nifty 4700 Call Adds 20.8 lakh shares in Open Int
-Nifty 4600 Call Adds 16.1 lakh shares in Open Int
-Nifty 4500 Put Adds 6.4 lakh shares in Open Int
-Nifty 4500 Call Adds 6.2 lakh shares in Open Int
-Nifty 4800 Put Sheds 4.4 lakh shares in Open Int
-Stock futures shed 2.9 cr shares in Open Int (Have shed 5.8 crore shares in 2 days)