Sensex volatile; Infy, SBI, ITC slip, Bharti, ONGC, BHEL up

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Sensex tumble; IT, FMCG, realty, banks, cement, auto slip

At 12:55 hours IST, the Sensex continued to trade weak and was down close to 300 points with no signs of meaningful recovery. The broader indices had outperformed the benchmark indices. The BSE Midcap and Smallcap indices were up 0.41% and 0.47% respectively. Heavy sell-off was seen in IT, FMCG, realty, cement, auto and banking stocks. All BSE sectoral indices were trading in red. Fall of nearly 1% in European markets also weighed on the markets.

The Sensex was down 293.91 points or 1.85% at 15618.22, and the Nifty was down 79.30 points or 1.68% at 4631.50. About 1552 shares advanced while 1382 shares declined. Nearly 830 shares were unchanged.

Top gainers in the Sensex were Bharti Airtel, Reliance Communication, Hindalco and BHEL. On the losing side, stocks like L&T, DLF, ACC, ITC and Reliance Industries were down 2.8%-3.5%.

In the midcap space, Spice Communication and Wockhardt topped the gainers list with double digit gain. IFCI was up 8% on news of government to appoint consultant to decide future shape of IFCI. Stocks like Puravankara Project, Nagarjuna Construction, Indiabulls Financial, India Cements and Anant Raj Industries lost 4-6%.

In the smallcap space, Murli was the top gainer with 17% gain. TV TodayNetwork, Hexaware Tech, AurionPro Solutions and Fresenius Kabi were up 6-8%.

Nifty below 4650; RIL, SBI, L&T, TCS, L&T, HUL dip 2-3%

At 12:04 hours IST, the Sensex witnessed fresh waves of selling on the back of further downtrend in heavyweights Reliance Industries, SBI, L&T, TCS, L&T, HDFC, DLF, HUL and Wipro, which were down 2-3%.

On the sectoral front, the sell-off was seen in auto, FMCG, technology, banking, pharma, cement and select power stocks. However, buying continued in telecom stocks. GAIL, BHEL, Suzlon, Cairn, Hindalco, Sterlite, HCL Tech and Reliance Capital were the other gainers.

The Sensex fell 290 points to 15,621 and the Nifty declined 85 points to 4,625. The Nifty November future was trading with 10 points discount.

The market breadth turned mixed; about 1,494 shares advanced while 1,441 shares declined on the BSE. Nearly 829 shares were unchanged.

In the cement space, Ambuja Cements tumbled 5.7%. ACC was down over 3% and Grasim fell 0.8%.

Technology stocks like TCS, Wipro and Infosys declined 2-3%. Tech Mahindra was down 1.5% and HCL Tech down 0.85%.

In the banking space, SBI, Axis Bank, HDFC Bank, ICICI Bank, Bank of Baroda and PNB were down 1-2.7%.

Auto stocks liked Maruti Suzuki, Tata Motors, Hero Honda, Bharat Forge and M&M slipped 1-2.6%.

In the FMCG pack, ITC and HUL went down 2.5-3.4%. Tata Tea, Colgate, Britannia, Marico and Dabur India were down 0.4-1%.

Cipla, Sun Pharma, Ranbaxy Labs, Glenmark and Biocon declined 1-2%.

Nifty trades lower; telecom, Suzlon, GAIL outperform

At 10:59 hours IST, the Nifty was trading sharply lower and even tested the 4650 level but managed to retrace from the same level. Banking, technology, cement, FMCG, auto, select power and metal stocks were witnessing selling pressure. Heavyweight Reliance Industries fell over 2% after 5.6% rally on Wednesday. ONGC, L&T and HDFC slipped 1.7-2.4%.

However, telecom stocks bucked the trend. GAIL surged 6%. BHEL, Suzlon, Cairn, Hindalco, Tata Steel, Jaiprakash Associates and Unitech were the other gainers.

Negative Asian markets also weighed on the markets. Kospi was up 1.5% and Nikkei gained 1.2%. Hang Seng fell 0.9%. Straits Times, Taiwan and Jakarta declined 0.4%.

The Sensex was down 185 points at 15,725 and the Nifty fell 48 points to 4,662. The Nifty November futures were trading with 8 points discount. However, the broader indices were outperforming the benchmark indices, up 0.8% each. About 1,616 shares advanced while 1,288 shares declined on the BSE. Nearly 860 shares were unchanged.

Telecom stocks like Idea Cellular, Bharti Airtel and Reliance Communications gained over 2%.

Wipro Consumer Care acquired Yardley's Asia, West Asia, Australia operations for $45.5 million. This is a second acquisition by Wipro Consumer Care post Unza in 2007. Wipro was down 2.6%.

Government sources said would appoint consultant to decide future shape of IFCI. Consultant would advise on government's role in IFCI, advice on government's debenture holding in IFCI. Souces also said government was open to all options including exiting IFCI. The stock shot up 7%.

Suzlon Energy surged 6.7%, as it was planning to repay $850 million debt from RE Power, Hansen acquisition. Suzlon pledged 1.79% further stake to Indiabulls Financial Services. Its total pledged stake with Indiabulls Financial stood at 6.38%.

In the midcap space, Wockhardt and Spice Communication gained 14%. Rashtriya Chemical, IFCI and Patni Computer went up 5-8%. However, REI Six Ten, Kansai Nerolac, India Cements, Nagarjuna Construction and Atlas Copco fell 2.5-6.5%.

In the smallcap space, Murli, TV TodayNetwork, SpiceJet, Hinduja Venture and C and C Construction moved up 6-12%. However, Webel SL Energy, Prime Securities, MSP Steel, Advani Hotels and Jindal Worldwid lost 4-5%.

Sensex retreats on profit booking; RIL, ITC, HUL, SBI dip

The Sensex retreated on the back of profit booking post sharp rally seen on Wednesday. Weak Asian markets and fall in US markets from the day's high to end mixed post Fed's comments weighed on the markets.

At 9:56 am, the Nifty fell 31 points to 4,679 and the Sensex lost 110 points to 15,801. The broader indices were flat in trade. About 366 shares advanced while 472 shares declined on the NSE.

Among the frontliners, ITC, HUL, Tata Power, Reliance Industries, Idea Cellular, Hindalco, M&M, SBI, ACC, PNB, Reliance Power, L&T, Wipro and Infosys were the gainers in the early trade.

However, Suzlon Energy surged 5.7% post debt refinancing plan. GAIL, Sun Pharma, BHEL and Reliance Communications were the other gainers.

Midcap space:

RCF shot up 9% as the company is planning to foray into cement business.

Patni Computer was up 3% as L&T Infotech is looking to buy the company.

Balrampur Chini and Bajaj Hindusthan gained 1-2%.

Jet Airways and Kingfisher Airlines went up 3-4%.

Maytas Infra was up 3.5% as they received big order of road project.

Global Cues:

Asian markets were trading lower. Nikkei and Kospi fell 1.3-1.4%. Straits Times, Hang Seng, Jakarta and Taiwan Weighted declined 0.3-0.8%. Shanghai was flat. SGX Nifty lost 0.4%.

The US markets slipped from day's high in half-hour of trading post Fed's comment. Commodities gained as Dollar Index witnessed biggest percentage intraday slide in a month.

Fed kept its benchmark federal funds rate unchanged in a range of zero to 0.25 percent.

The Dow Jones Industrial Average ended up 30 points at 9,802, after slipping 126 points from day's high of 9,928.

The Nasdaq Composite ended down 2 points at 2,055, after slipping 26 points from day's high of 2,081. The S&P 500 Index ended up 1 point at 1,046, after slipping 15 points from day's high of 1,061.

Commodities:

Crude gained 1% at $80.4/bbl.

Gold made record high at $1097.2/ounce on Wednesday.

Copper was up 2% to $6570 a tonne.

Baltic Dry Index was up 1.5% to 3295.

Market cues:

-FIIs net sell USD 63.9 million in cash on November 3
-MFs net sell USD 63.9 million in cash on November 3
-Total F&O Open Int up by Rs 1954 crore at Rs 86,530 crore
-FIIs net buy Rs 234 crore in cash on November 4
-DIIs net buy Rs 557 crore in cash on November 4
-FIIs net buy Rs 2639 crore in F&O on November 4

F&O cues:

-Total Futures Open Int down by Rs 57 crore
-Total Options Open Int by Rs 2012 crore
-Nifty up 3.2%, Futures Open Int down 7%
-Nifty IVs at 27-30%
-Nifty Fut trading at 6-pt discount versus 5-pt discount
-Nifty Call shed 13.8 lakh shares in Open Int
-Nifty Puts add 49.6 lakh shares in Open Int
-Nifty 4600 Put adds 13.2 lakh shares in Open Int
-Nifty 4400 Put adds 10.5 lakh shares in Open Int
-Nifty 4500 Put adds 9 lakh shares in Open Int
-Nifty 4600 Calls shed 5.1 lakh shares in Open Int
-Nifty 4700 Calls shed 4.8 lakh shares in Open Int
-Stock Futures shed 18.6 lakh shares in Open Int