Nifty hovers around 5400 amid choppy trade

The benchmark Nifty bounced back on Monday after a sharp cut seen on Friday as well as previous week. But markets could not hold that recovery and immediately turned volatile. Index was hovering around 5400 level in early trade. 

Among frontliners, ITC, Jaiprakash Associates, Bharti Airtel, Reliance Communications, M&M, Maruti Suzuki, Reliance Power, TCS, ONGC, Bharti Airtel and Infosys were witnessing buying interest. However, Cipla, Suzlon Energy, Sun Pharma, Dr Reddy's Labs, Tata Motors, Bajaj Auto, ICICI Bank, BHEL and HUL were on sellers' radar. At 9:16 hours IST, the 50-share NSE Nifty was trading at 5,414, up 18 points and the 30-share BSE Sensex was at 18,087, up 79 points. The CNX Midcap rose 18 points to 7,769. About 588 shares advanced as against 296 shares declined on National Stock Exchange. Midcap & Smallcap space: Nagarjuna Fertiliser and Chambal Fertiliser went up 1-2%. Kingfisher Airlines gained 1%. Shree Renuka Sugars rallied 3% and Balrampur Chini went up 0.5% while Bajaj Hindusthan fell 1%. HDIL jumped 2.44%. Aurobindo Pharma was up 1.5% on strong results. Eicher Motors surged 5% on the back of good numbers for the quarter ended December 2010. Allied Digital fell another 10%; it had fallen 20% on Friday. Zee Learn, IRB Infra, Delta Corp and jubilant Foodworks were up 2-3%. Unitech shot up 4% as it repaid debt of Rs 178 crore loan ahead of February 22 deadline. Punj Lloyd rose 2% ahead of numbers. Cable companies are set to meet TRAI today on digitisation. Hathway Cable was up 4% and Den Networks up 0.7%. _PAGEBREAK_ The US markets posted the best week in two months, in spite of non-so-encouraging January jobs report. The Dow Jones Industrial Average ended up 30 points or 0.25% at 12,092 on Friday; it was up 2.3% for week and up 4.5% year-to-date (YTD). The Nasdaq Composite was up 15.4 points or 0.56% at 2,769. It was up 3% for week and up 4.4% YTD. Commodities March crude oil contract was down 1.7% at USD 89/barrel on Friday. It was down 0.5% for week. March natural gas contract was down 0.4% at USD 4.31 per MMBtu April gold contract fell 0.3% at USD 1349.5/ounce March silver contract went up 1.1% at USD 29.01/ounce Copper hit an all-time high. F&O cues: Total Nifty futures up Rs 1318 crore, Options up Rs 4870 crore Stock futures net add 66 lakh shares in Open Int Nifty Fut Open Int shed 31.1 lakh shares in Open Int; Nifty futures discount at 9 pts versus prem of 13 pts Nifty Open Int PCR down at 1.12 versus 1.25 Nifty Put add 8 lakh shares, Call add 77 lakh shares in Open Int Highest Open Int outstanding at 5400 Put, 5500 call (from 5500 Put), 5700 call Nifty 5400 Call adds 30 lakh shares (149%) in Open Int; prem down from 179 to 96 Nifty 5500 Call add 19 lakh shares (40%) in Open Int, prem down from 120 to 55 Nifty 5200 Put add 11.9 lakh shares (23%) in Open Int, prem up from 20 to 47 Nifty 5300 Call add 10.3 lakh shares (482%) in Open Int, prem down from 262 to 150 Nifty 5600 Call add 8 lakh shares (17%) in Open Int Nifty 5100 Put add 3.6 lakh shares (13%) in Open Int Nifty 5500 Put shed 16.4 lakh shares (25%) in Open Int Nifty 5400 Put shed 7.3 lakh shares (8%) in Open Int