Midcaps may extend underperformance: An analysis

By Anuj Singhal, Head-Markets Research at CNBC-TV18

Markets were remained nervous on Monday and it was in a sell on rally mode. FIIs were net sellers of Rs 65 crore and DIIs were net sellers of Rs 12 crore in cash markets on Monday, as per provisional data.

FIIs were net buyers of Rs 132 crore in Nifty futures and buyers of Rs 315 crore in Stock futures.

Midcap and small caps may extend underperformance today. IT stocks will be in focus as Cognizant posted strong numbers.

Oil stocks too will be in focus as crude oil slid to USD 87/barrel.

Adani Power, Ansal Properties, Mangalore Refinery, Patni, Power Grid, PTC and Hanung Toys will announce their results today.

F&O highlights

Nifty futures ended at 2-point discount. Nifty Open Interest PCR was up at 1.15 versus 1.11. Nifty Puts added 29 lakh shares in Open Interest while Nifty Calls added 7 lakh shares in Open Interest.

Nifty 5100 Put added 14 lakh shares in Open Interest and Nifty 5300 Put added 9 lakh shares in Open Interest. Nifty 5500 Put shed 5.7 lakh shares in open interest.

Sun TV was down 11% and its open interest was up by 236%. Petronet LNG' open interest was up by 25% and GAIL's OI up by 16%.

ONGC's OI was up by 15%, Suzlon's OI up by 11%, IVRCL Infra's OI was up by 9% and Punj Lloyd's OI was up by 7%.