Sensex trades higher; banks, realty, metals, oil & gas 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 31/05/12 Are Mutual Funds betting on Nifty?

Nifty hovers around 4800; HUL, ITC, Tata Power, BHEL dip

At 12:08 hours IST, the Nifty remained positive and was hovering around the 4,800 mark. Continuous buying was seen in banking & financial, realty, metal, oil & gas, auto, power and pharma stocks. The broader indices maintained their 2% gain, as NSE's advance:decline ratio stood at 7:1. However, selling in HUL, BHEL, Idea Cellular, ITC, Tata Power and Ambuja Cements limited the gains to some extent.

The Sensex rose 164 points to 16,227 and the Nifty gained 51 points at 4,817. The Nifty November future was trading with 6 points discount.

Sunil Hitech was locked at 10% upper circuit, as according to sources, Indiabulls Power is in talks to buy stake in the company. Indiabulls Power may buy controlling share in Sunil Hitech. Indiabulls Power surged 10%.

All the sectoral indices were in the green barring FMCG; the BSE Realty, Metal and Bank indices gained 2-2.8%. Auto, Capital Goods, Power, Oil & Gas and Healthcare indices were up 1-1.7%. However, FMCG index fell 0.3%.

In the banking space, PNB, Bank of Baroda, SBI and Axis Bank were up 1.8-3%. HDFC Bank and ICICI Bank gained 0.4-0.65%.

Metal stocks like Tata Steel, Sterlite Industries, SAIL, NALCO and Jindal Saw moved up 1.8-2.5%. Hindalco rose 0.40%.

HPCL, IOC, BPCL, Reliance Industries, Cairn India and ONGC went up 0.2-1%, in the oil & gas space.

In the realty pack, DLF, Unitech and Indiabulls Real were up 1.5-2.5%.

Power stocks like Torrent Power, Suzlon Energy, NHPC, Neyveli Lignite, Adani Power, Siemens, Reliance Infrastructure, GMR Infra and GVK Power gained 1-6%. Reliance Power and Power Grid Corp went up 0.5-0.7%.

Top percentage gainers - MMTC, Indo Borax, Sirpur Paper, Madhucon Projects, STC India, Rashtriya Chemical and National Fertilisers moved up 12-14.5%.

Top percentage losers - Madhusudan Sec, Terai Tea, Arvind Chemical, Sarda Plywood, Sharyans Res, Alkyl Amines, Centum Electron, Rajvir Ind and GKW fell 4.5-9%.

Sensex rallies for 3rd day; broader indices outperform

At 11:01 hours IST, the Sensex remained higher for the third consecutive day led by buying interest in banking & financial, realty, capital goods, power, metal and pharma stocks. Reliance Industries, Bharti and Reliance Communication were the other gainers with 1-1.5% gain. The Nifty consistently stayed above the 4,800 mark. However, selling was seen in few stocks like HUL and Idea Cellular.

Positive Asian markets were helping the markets as well. Hang Seng rose 1.7%. Shanghai, Nikkei, Kospi, Straits Times, Taiwan Weighted and Jakarta went up 0.7-1.2%.

The 30-share BSE Sensex gained 163 points at 16,225 and the Nifty was up 54 points at 4,819. The broader indices were outperforming the benchmark indices, gained 2% each. The market breadth was positive; about 1,091 shares advanced while 119 shares declined on the NSE.

In the largecaps, Suzlon Energy shot up 7%. Ranbaxy Labs, Reliance Infrastructure, DLF, Tata Steel, SBI and Jaiprakash Associates moved up 3-4%.

Rico Auto was up 5%, as the company's management revoked suspension of 9 out 16 suspended employees. According to sources, Rico's workers called off strike and the company will stat operating at full capacity from today.

In the midcap space, Rashtriya Chemical, National Fertilisers, STC India, Reliance Industrial Infra and Jai Corp gained 10-14%.

In the smallcap space, Madhucon Projects, Fresenius Kabi, JSW Holdings, Hindustan Organic Chemical and Fem Care Pharma went up 9-13%. However, Bombay Burmah, Ushdev Int, Greenply Industries, Shree Ram Urban and Modern India fell 1.7-5%.1.72%

Tata Steel said October saw best ever production in most units. Its October sales were up 38% at 4.62 lakh tonnes (YoY). October hot metal production was up 17% at 6.49 lakh tonnes; crude steel production up 22% at 6 lakh tonnes and saleable steel production up 27% at 5.7 lakh tonnes (YoY). The stock rose 3.6%.

Nifty back above 4800 on positive global cues

The Nifty started the day on a positive note following good global cues. The global markets rallied post encouraging US economic data. High beta stocks were seeing buying interest and potential divestment companies' shares jumped higher. The Nifty was trading above the 4,800 mark.

At 9:56 am, the Sensex rose 178 points to 16,242 and the Nifty gained 55 points at 4,820. The CNX Midcap went up 84 points to 6,776. About 652 shares advanced while 44 shares declined on the NSE.

Among the frontliners, Suzlon Energy, Jaiprakash Associate, Unitech, DLF, Tata Steel, Sterlite, Hindalco, Jindal Steel & Power, Siemens, Reliance Infrastructure and Reliance Industries were helping the markets. However, HUL was the loser.

Midcap space:

After a cabinet meeting yesterday, Home Minister, P Chidambaram said all unlisted PSUs (public sector undertakings) with a positive networth would be listed and a minimum of 10% of equity of all PSUs' would be held by public.

Divestment candidates like Hindustan Copper, ITI, RCF, HMT and NMDC were up 6-10%. IFCI gained 3% at Rs 51.

Rolta, Patni, Rolta and Polaris were up 3-4%.

Kingfisher Airlines and Jet Airways were up 0.7-1.5%.

However, Thinksoft Global and Austral Coke fell 3-4%.

Global cues:

Asian markets were trading higher. Hang Seng, Straits Times, Kospi and Jakarta gained 1-1.7%. Nikkei and Taiwan Weighted went up 0.9% each. Shanghai gained 0.6%.

The US markets rallied post encouraging economic data ahead of all important October job report. Senate voted to extend first-time homebuyer's tax credit through April 30.

The Dow Jones closed above the 10,000 mark for the first time since October 22, was up 204 points or 2.08% at 10,006. The S&P 500 Index gained 20 points or 1.92% at 1,066.6 and the Nasadq Composite rose 50 points or 2.4% at 2,105.3.

3Q non-farm productivity was up 9.5% in its preliminary report, highest pace in 6 years.

Commodities:

The Reuters CRB Index was down 1%.

Gold gained $2.5 at $1087.3 an ounce, rallied for a fourth day.

Crude was up 1% at $79.6/bbl on Thursday. It was up 4% this week.

Copper declined 1% to $6530/tonne.

Market cues:

-FIIs net buy USD 2.9 million in cash on November 4
-MFs net buy Rs 386 crore in cash on November 4
-Total F&O Open Interest up by Rs 2986 cr at Rs 89,517 cr
-FIIs net buy Rs 127 crore in cash on November 5
-DIIs net buy Rs 199.5 crore in cash on November 5
-FIIs net buy Rs 139 crore in F&O on November 5

F&O cues:

-Total Futures Open Int up by Rs 1163 crore, Total Options Open Int up by Rs 1822 crore
-Nifty up 1.2%, Futures Open Int up 4%
-Nifty IVs at 27-30%
-Nifty futures trading at 5 point premium versus 6 point discount
-Nifty Call add 3.4 lakh shares shares in Open Int, Nifty Puts add 30.7 lakh shares in Open Int
-Nifty 4700 Put adds 9.4 lakh shares in Open Int
-Nifty 4800 Put adds 8.5 lakh shares in Open Int
-Nifty 4500 Put adds 3.5 lakh shares in Open Int
-Nifty 4700 Calls adds 3 lakh shares in Open Int
-Stock futures add 6.1 lakh shares in Open Int