January 25, 2011 / 11:54 IST
At 10:41 hours IST - the benchmark Nifty was trading in a tight range of 5755-5775, with a positive bias, supported by infrastructure, oil & gas, metal, FMCG, cement and telecom companies' shares. However, banks were under selling pressure today, which capped gains, especially ahead of RBI's credit policy today. Profit booking could be another reason as banks stocks rallied in previous session.
Experts believe that there could be 25 bps hike in key rates. Sandeep Bhatia executive director and head of sales at Kotak Institutional Equities too expects a 25 bps hike in repo and reverse repo rates. He also expects the RBI to revise long-term rates from 5.5% to 6.5%. Even India's largest lender SBI expects 25 bps hike in key rates.The 30-share BSE Sensex was trading at 19,232, up 81 points and the 50-share NSE Nifty rose 25 points to 5,768. The broader indices too gained 0.3-0.5%.Among frontliners, NTPC, Sterlite Industries (ahead of numbers), L&T, Hindalco, HUL (ahead of numbers), GAIL, BPCL and Ambuja Cements gained 1.4-2.4%.However, HDFC Bank, ICICI Bank, Reliance Infrastructure, SBI, M&M, HCL Tech and PNB fell 0.7-1.7%.TTK Prestige, SBI, BF Utilities, L&T, C Mahendra Exports, Infosys and ICICI Bank were most active shares on exchanges.In midcap space, BF Utilities, Money Matters, Shriram City, Shoppers Stop and IRB Infra surged 3.9-5% while BOC India, Simplex Infra, SKS Microfinance, Prestige Estate and Raymond slipped 2.5-4%.In smallcap space, Hercules Hoists, Surana Inds, Dion Global, Petron Eng and Zenith Infotech gained 6.9-12.5% whereas Shree Nath Comm, Balkrishna Inds, LS Industries,
Sequent Scient and Halonix lost 3-5%.About 1592 shares advanced while 777 shares declined on Bombay Stock Exchange._PAGEBREAK_Nifty northbound ahead of credit policy; Sterlite upThe benchmark Nifty started the session on a positive note amid mild volatility. Metal, oil & gas, telecom, capital goods, healthcare and select technology companies' shares were on buyers' radar while major banks were down in trade.Benchmarks are eyeing Credit Policy event today. Experts are expecting 25 bps hike in policy rates. But beyond that the markets will see selling pressure.Idea Cellular jumped 3% as its consolidated net profit was up by 35% to Rs 243 crore.Among frontliners, L&T, Bharti Airtel, HUL, Wipro (bounced back after two days fall), Sterlite Industries (ahead of results today), Hindalco, M&M, Dr Reddy's Labs (ahead of numbers), TCS, SAIL and Sun Pharma were witnessing buying interest.However, Infosys, Sesa Goa, Cairn India and SBI were marginally in red.At 9:16 hours IST, the 30-share BSE Sensex was trading at 19,221, up 70 points and the 50-share NSE Nifty rose 19 points to 5,762. The CNX Midcap went up 35 points to 8,319. Midcap & Smallcap space:Shree Ashtavinayak shot up 5.4%. Time Technoplast jumped 9%.TTK Prestige was up 6.5%, Balaji Telefilms up 4.6% and Karnataka Bank up 1.5%.Zee Learn went up 2.3% ahead of board meet on January 27 for consideration of Education Infrastructure assets.Deccan Chronicle was up 2.5% (approved merger of 2 companies with self) and Zee Entertainment up 2.8% (was up 3% yesterday).LIC Housing Finance gained 0.9%. Delta Corp was up 1.6% and Exide Industries up 2%. BPCL, HPCL and IOC gained 0.7-1%. Ashok Leyland was up 1%, Edelweiss Capital up 3.8% and India Infoline up 0.8%However, Indiabulls Securities was down 4.8% on profit booking.TVS Motor was down 1%, SKS Micro down 4.5% (on disappointing results) and Torrent Power down 1.6%._PAGEBREAK_Global cuesAsian markets were trading higher barring Shanghai. Hang Seng, Nikkei and Kospi were up 0.7-1%. Straits Times and Taiwan were flat. However, Shanghai slipped 0.46%.The Dow Jones Industrial Average hit fresh two-year high. Technology outperformed after underperforming last week.The Dow Jones Industrial Average ended up 109 points at 11,980. The Nasdaq was up 28 points at 2,717 and S&P 500 Index went up 7.5 points at 1,291.CommoditiesMarch crude oil was down 1.4% at USD 87.87/barrelFebruary natural gas contract was down 3.1% at USD 4.57 per MMBtu, first down day in five sessionsFebruary gold contract was up 0.1% at USD 1344.5/ounce Silver shed 0.2% at USD 27.32/ounce F&O cues: Total Nifty futures up Rs 1154 crore, Options up Rs 693 croreStock futures net add 2 cr shares in Open IntNifty Fut Open Int net add 5.7 lakh shares in Open Int; Nifty futures discount at 3 pts versus 5 pts prem Nifty Open Int PCR up at 0.93 versus 0.89Nifty Put add 21 shares in Open Int, Call shed 12.1 shares in Open IntHighest Open Int outstanding on call side at 6200 call, 5600 Put, 6000 callNifty Jan 5700 Put add 8.4 lakh shares in Open IntNifty Feb 5800 Call add 6.6 lakh shares in Open IntNifty Feb 5700 Put add 5.7 lakh shares in Open IntNifty Jan 5400 Put add 3.6 lakh shares in Open IntNifty Feb 6100 Call add 3.7 lakh shares in Open IntNifty Feb 5900 Call add 3 lakh shares in Open IntNifty Feb 6000 Call add 2.5 lakh shares in Open IntNifty Jan 5700 Put shed 16.8 lakh shares in Open IntNifty Jan 5600 Call shed 11.7 lakh shares in Open IntNifty Jan 5600 Put shed 3 lakh shares in Open Int Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
