January 24, 2011 / 10:48 IST
At 10:34 hours IST - Indian equities strengthened further led by buying in financial (barring HDFC Bank), FMCG, metal (except SAIL), cement, capital goods, realty and auto companies' shares along with ONGC and NTPC. The Nifty was inching up towards 5750 level while the Sensex added 100 points.
However, there was still a bit of volatility in benchmarks due to sell-off in Reliance Industries, Wipro, HDFC Bank, SAIL, TCS, Hindalco and Tata Power along with Anil Dhirubhai Ambani Group & telecom companies' shares.The 30-share BSE Sensex was trading at 19,114, with gain of 107 points and the 50-share NSE Nifty rose 36 points to 5,733; could be because of short covering in some largecaps ahead of RBI's quarterly policy meet tomorrow.Among largecaps, SBI was trading at Rs 2,670, up 2.77% post reported strong operational performance in Q3FY11. Its margins expanded, supported by CASA & hike in lending rate.HDFC, Sterlite Industries, Tata Steel, ONGC, Axis Bank and BHEL gained 1.7-2.5%.However, Wipro was trading at Rs 447.85, down 1.8%. It showed some recovery from day's low on short covering as its Q3FY11 numbers were below market expectations and done some rejig in top management level. Reliance Industries, Reliance Communications, Reliance Infrastructure, Bharti Airtel, Wipro and Siemens were down 0.6-1.8%.KSK Energy Ventures, SBI, LIC Housing Finance, Tata Steel, ICICI Bank and Reliance Industries were most active shares on exchanges.In midcap space, KSK Energy Ventures, Shoppers Stop, Wockhardt, Money Matters and Glodyne Tech were up 5-7% while KGN Industries, Infotech Enterprises, BOC India, M&M Financial and Tecpro Systems slipped 1.8-4.4%.In smallcap space, Kama Holdings, Odyssey Finance, Oscar Invest, Indiabulls Securities (plans major business restructuring) and Bengal & Assam rallied 7.6-12.7% whereas Kennametal, Rossell Tea, Spectacle Info, Premier and Rollatainers declined 4-8%.About 1753 shares advanced as against 658 shares declined on Bombay Stock Exchange._PAGEBREAK_Nifty volatile; SBI, BHEL, Maruti up, Wipro, SAIL slipThe benchmark Nifty started the day on a positive note on SBI and Reliance Industries Q3FY11 numbers. The index was trying to hold 5700 level amid volatility, as on other side other heavyweights like Wipro, Rel Comm and HDFC Bank were under pressure.India's largest banks - SBI jumped 2.65% after good results. ICICI Bank rose over 1% ahead of results today.Maruti gained 1% after product price hike. M&M, Bajaj Auto, HCL Tech, L&T, ONGC (bounced back) and Suzlon Energy were on buyers' radar.However, Wipro lost another 4% after results and rejig at management level. Reliance Communications, Power Grid, PNB, HDFC Bank and Kotak Mahindra Bank were under selling pressure.At 9:17 hours IST, the 30-share BSE Sensex was trading at 19,051, up 43 points and the 50-share NSE Nifty was at 5,709, up 12 points.The CNX Midcap rose 28 points to 8,244 and the Nifty Junior went up 35 points to 11,439. About 529 shares advanced as against 222 shares declined on National Stock Exchange.Midcap & Smallcap space:Ashok Leyland tanked 4.7% on likely fall in margin in Q3.Results reaction: Chambal Fertiliser was up 1.4%, Bharat Forge up 2.2% and Godrej Consumer up 2.8%.Shree Ashtavinayak shot up 5% on huge volumes.Zee Learn was up 1.9%, HMT up 2.4% and Dena Bank up 1%. Dhanlaxmi Bank gained 3% and KPIT Cummints rallied 3.65%.LIC Housing Finance bounced back with 1.6% rise. However, Praj Industries fell 0.9%._PAGEBREAK_Global cuesAsian markets were mixed in trade. Shanghai, Hang Seng and Taiwan were flat with a negative bias. However, Nikkei and Straits Times rose 0.4-0.5%. The US markets ended mixed as Google & GE beat on the bottom line, but Bank of America came short of consensus.The Dow Jones Industrial Average gained for eight consecutive week and ended up 0.4% at 11872 on Friday. The index was up 0.72% for week and up 2.5% year-to-date (YTD).The Nasdaq Composite fell 0.55% at 2,690; it was down 2.4% for week while went up 1.4% YTD. The S&P 500 Index rose 0.24% to 1,283 on Friday; it was down 0.75% for week whereas was up 2% YTD.CommoditiesCRB Commodity Index went up 0.6% on Friday. It gained 0.3% for weekGold was down 0.4% at USD 1346.5/ounce, closed lower for a third weekSilver was down 1% at USD 27.2/ounceOil prices fell 0.4% at USD 89.22/bblNatural gas was up 0.8% at USD 4.73 per MMBtuF&O cues: Total Nifty futures up Rs 1060 crore, Options up Rs 894 croreStock futures net add 35 lakh shares in Open IntNifty Fut Open Int net shed 14.4 lakh shares in Open Int; Nifty futures prem at 5 pts prem versus 8 pts premNifty Open Int PCR down at 0.89 from 0.91Nifty Put shed 3.6 shares in Open Int, Call add 15.7 shares in Open IntHighest Open Int outstanding on call side at 6200 call, 5600 Put, 6000 call, 5700 callNifty Jan 5600 Put add 10.7 lakh shares in Open IntNifty Jan 5700 Call add 9.8 lakh shares in Open IntNifty Feb 5400 Put add 5.2 lakh shares in Open IntNifty Jan 5800 Call add 5 lakh shares in Open IntNifty Feb 6000 Call add 3.2 lakh shares in Open IntNifty Feb 5600 Put add 2.7 lakh shares in Open IntNifty Jan 5700 Put shed 12 lakh shares in Open IntNifty Jan 5500 Put shed 10.9 lakh shares in Open IntNifty Jan 6200 Call shed 3 lakh shares in Open Int Discover the latest Business News, Sensex, and Nifty updates. 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