Nifty ends flat ahead of next week's RBI policy, F&O expiry

After trading in a tight range of 5650-5750 for the week, the benchmark Nifty shut shop a tad below the 5700 mark on Friday. Indian equities were extremely volatile, and could possibly be awaiting events like Reliance Industries Q3FY11 results later today evening, SBI's quarterly earnings tomorrow, ICICI Bank numbers on Monday, RBI monetary policy on January 25 and expiry for the month of January on Thursday.

The markets remained in negative terrain today, hammered by a sell-off in realty, metal, FMCG, HDFC group, healthcare and select technology companies' shares along with ONGC and Bharti Airtel. With a more bearish view, Rahul Mohindar of viratechindia.com said he does not see the Nifty holding the 200 DMA. He feels that the markets will drill down low. "Several font line stocks continue to look weak and it is going to be very difficult for the market to even maintain itself above 5800 level. So I do not think we are going to see any kind of a great upside. Whatever we see is probably going to be more of intraday corrective upward rallies. On the whole, 5400-5500 is an area we probably knock in, which could happen over the next month." He said the weaker stocks would continue to be rate sensitive. However, Anil Manghnani of Modern Shares & Stock Brokers believes that as long as Nifty continues to hold 5,600, there is still a possibility that the market can rally back to 5,830-5,900 levels before the next round of selling resumes. Gautam Shah of JM Financial sees support for the Sensex & the Nifty at 18700 and 5600. However, the downtrend was capped due to buying in Anil Dhirubhai Ambani Group companies' shares along with RIL, SBI, ICICI Bank, BHEL and NTPC. European markets were also bit of supportive, which were up 0.5-1%. The 30-share BSE Sensex closed at 19,007.53, down 39.01 points and the 50-share NSE Nifty fell 15.10 points to settle at 5,696.50. However, broader indices outperformed benchmark by small margin - the BSE Midcap Index was up 0.22% and Smallcap up 0.46%. Heavyweight ONGC was the leading dragger on Nifty due to Oil spill reported from company's fields off Mumbai coast. The stock tumbled 2.5%. However, Reliance Industries was the leader today with 1.75% rise ahead of its earnings today evening. CNBC-TV18 expects 29.7% jump in Q3FY11 net profit of Rs 5,200 crore. Wipro was the top loser on Nifty after its quarterly earnings and underperformed other IT stocks. The stock plunged 4.5%; India's third largest IT software exporter reported net profit at Rs 1,319 crore, a growth of 3.4% and dollar denominated global IT revenues rose 5.6% to USD 1.34 billion (QoQ). Suresh Vaswani and Girish Paranjpe stepped down as Joint CEOs. Now TK Kurien will be new CEO of Wipro. Infosys Tech fell 1.6% and HCL Tech was down 2.2%. Ahead of earnings, country's largest lenders SBI and ICICI Bank were up 2.44% & 1.4%, respectively. SBI will report its December quarter earnings tomorrow and ICICI Bank on Monday. However, HDFC, HDFC Bank, PNB (post numbers), IDFC and Kotak Mahindra Bank were down 1-1.4%. Anil Dhirubhai Ambani group companies' shares were on buyers' radar today. Reliance Power, Reliance Communications and Reliance Infrastructure moved up 2.25-3%. Reliance Capital rose just 0.24%. State-run BHEL also posted good numbers in December quarter, which pushed the stock higher by 1.46%. Its net profit surged 30.88% to Rs 1,403 crore and net sales jumped 24.63% to Rs 8,849.3 crore on year-on-year basis. Operating profit margin too improved at 21.44% versus 20.18%. However, L&T and Siemens fell half a percent. Among others, Bharti Airtel slipped 1.25% and DLF was down 1.9%. Sterlite, Jindal Steel, Tata Steel, Hindalco and SAIL from metal space lost 0.4-1.8%. ACC and Ambuja Cements fell 1-2%. In auto pack, Hero Honda, Maruti and Tata Motors were down 0.6-1.3% while Bajaj Auto and M&M went up 1% each. ITC tumbled 1.6% after its quarterly earnings. Cigarette major reported 21.41% growth in Q3 net profit of Rs 1,389 crore and net sales were up 18.56% to Rs 5,453 crore (YoY).
 
In midcap space, Motilal Oswal surged 11%. Sterling International, India Infoline, Wockhardt and Money Matters went up 5-7%. However, Sanwaria Agro, Financial Tech, Persistent, Kirloskar Brothers and Britannia fell 4.5-6%. In smallcap space, Lloyds Metals rallied 20% and Valecha Engg jumped 19.22%. Hanung Toys, Surana Industries and Kama Holdings were up 9.7-12%. However, Rossell Tea, Nilkamal, SML Isuzu, Spectacle Info and Borosil Glass lost 4.5-5%. About 1514 shares advanced as against 1367 shares declined on Bombay Stock Exchange. On the global front, European markets were trading 0.55-1.2% higher. Asian markets closed mixed; Shanghai rose 1.4% and Taiwan was up 0.3%. However, Hang Seng, Nikkei, Straits Times and Kospi slipped 0.5-1.7%. _PAGEBREAK_ Nifty consolidates; ADAG stocks top gainers At 14:57 hours IST - the 50-share NSE Nifty has consistently been volatile in trade today due to two-way move. On one side, heavyweights like Reliance Industries, SBI and ICICI Bank, ahead of their numbers, were helping the markets. BHEL after its strong numbers, NTPC, M&M and Bajaj Auto along with Anil Dhirubhai Ambani Group companies' shares too followed the same trend. However, selling continued in ONGC, Wipro, Infosys, Bharti Airtel, HDFC and HDFC Bank along with metal, cement, healthcare, realty and FMCG companies' shares. At this point in time, Arjun Divecha of GMO said they are heavily underweight both India and China in their emerging markets strategy. This is primarily due to high valuations in both countries relative to other emerging markets, he says. "In addition, central banks in both countries appear to be behind the curve and they will have to act strongly to bring inflation down." The Sensex was trading at 18,999, down 47 points and the Nifty fell 15 points to 5,696. Among frontliners, Wipro was trading at Rs 456.35, down 4.53% (after quarterly numbers), ONGC was at Rs 1,108.35, down 2.27% (Oil spill reported from ONGC`s fields off Mumbai coast); Sterlite Industries was at Rs 177.40, down 1.74%; DLF was at Rs 252, down 1.7%; ITC was at Rs 168.95, down 1.63% (after quarterly numbers); HCL Tech was at Rs 499.50, down 2.22% and ACC was at Rs 995.05, down 2.14%. However, Reliance Infrastructure, Reliance Communications, SBI, Reliance Industries, BHEL, Reliance Power and Sesa Goa gained 1.3-2.9%. In midcap space, Motilal Oswal rallied 12%. Cholamandalam, HMT, BOC India and Peninsula Land gained 4.5-5% while Financial Tech, Persistent, KGN Industries, Kirloskar Brothers and Polaris slipped 3.8-6%. In smallcap space, Valecha Engg, Lloyds Metals, Hanung Toys, Hyderabad Inds and Splash Media rallied 8-17% whereas Rossell Tea, SML Isuzu, Spectacle Info, Prabhav Indust and Centrum Finance lost 4.6-5%. _PAGEBREAK_ Nifty volatile; Wipro, ONGC, Infy, Bharti, ITC, HDFC slip At 14:44 hours IST - Indian equities were extremely volatile in trade today and were gyrating around their previous closing values, more specifically around 5,700 on Nifty and 19,000 on Sensex, which has consistently been happening this week. Reliance Industries gained 2% ahead of its results - according to CNBC-TV18 estimates, RIL's Q3 net profit is expected to go up by 29.7% to Rs 5,200 crore. India's largest banks - SBI and ICICI Bank were up 2.7% & 1.4%, respectively, ahead of their quarterly numbers on Saturday and Monday. State-owned engineering firm BHEL went up 1.7%, especially after good quarterly numbers. Its Q3 net profit surged 30.9% to Rs 1,403 crore. However, Wipro slipped further on the back third quarter numbers. The stock plunged 4.6% - its Q3 net profit was up 3.4% to Rs 1,319 crore and dollar denominated Global IT revenues went up by 5.6% to USD 1.34 billion (QoQ), which were in-line with estimates. ITC too was down 1.3% though its numbers were above expectations. Net profit rose 21.41% to Rs 1,389 crore and net sales went up 18.56% to Rs 5,453 crore as against estimates of Rs 1,259 crore and Rs 5,381 crore. Anil Dhirubhai Ambani Group and select power companies' shares were also helping the markets. However, FMCG, healthcare, metal and select auto companies' shares along with ONGC, Infosys, Bharti, HDFC and HDFC Bank were on sellers' radar. ONGC tanked 1.9% as oil spill was reported from its fields off Mumbai coast, reports CNBC-TV18. The 30-share BSE Sensex was trading at 18,976, down 69 points and the 50-share NSE Nifty slipped 36 points to 5,675. However, European markets were trading with 0.4% gain. In midcap space, BOC India, Peninsula Land, IRB Infra, Alok Industries and Glenmark were up 3.5-5.5% while Financial Tech, Persistent, Polaris, KGN Industries and Britannia fell 4-5%. In smallcap space, Valecha Engg, Lloyds Metals, Surana Inds, Lloyds Steel and Kama Holdings rallied 8-16% whereas Borosil Glass, Rossell Tea, India Securities, OCL Iron and Spectacle Info lost 3-6%. Nifty bounces back above 5700; BHEL gains post nos At 12:14 hours IST - markets showed smart recovery from day's low in afternoon trade, led by heavyweights like Reliance Industries, SBI, ICICI Bank, BHEL, NTPC and TCS along with Anil Dhirubhai Ambani Group companies' shares. The benchmark Sensex bounced back above the 19,000-mark and Nifty too above 5700 level but there was extreme volatility at these levels as they have been facing selling pressure at same levels. Anil Manghnani of Modern Shares & Stock Brokers believes that as long as Nifty continues to hold 5,600, there is still a possibility that the market can rally back to 5,830-5,900 levels before the next round of selling resumes. "Even if 5,600 breaks there is a lot of support up to 5,530-5,550 levels. Hence, maybe, we will get a false break just below and a bounce back above. The selling may partially cool off and you get that move up to 5,850-5,900 levels. However, at around 5,900 levels, I would buy puts or open Nifty shorts because then the fall would again resume," he says. However, there was a cap on upside due to sell-off in Wipro, Infosys, ONGC, Bharti, HDFC, HDFC Bank and Maruti along with FMCG and metal companies' shares. The 30-share BSE Sensex was trading at 19,033, down 12 points and the 50-share NSE Nifty fell 4 points to 5,707. However, the broader indices were on buyers' radar and gained 0.65-0.9%. About 833 shares advanced as against 441 shares declined on National Stock Exchange. Heavyweight BHEL rallied 3.05% after 30.88% jump in Q3FY11 net profit to Rs 1,403 crore and 24.63% in net sales to Rs 8,849 cr (YoY). Among others, SBI, Reliance Communications, Reliance Industries (ahead of numbers today evening), Reliance Infrastructure, BPCL, Suzlon Energy and Sesa Goa gained 1.5-2.4%. However, Wipro fell four percent on the back of quarterly numbers; dip in volumes could be a reason behind fall in stock price. Its Q3 net profit was up 3.4% to Rs 1,319 crore and dollar denominated Global IT revenues went up by 5.6% to USD 1.34 billion (QoQ), which were in-line with estimates. Infosys was down 1.4% and HCL Tech down 0.5%. TCS was up 0.25%. Sterlite Industries, Jindal Steel, HDFC, and Tata Power fell 1.6-1.8%. ONGC tanked 1.81% as oil spill was reported from ONGC`s fields off Mumbai coast, reports CNBC-TV18. In midcap space, BOC India, Peninsula Land, Alok Industries, IRB Infra and Bata India went up 3.6-5.4% whereas Persistent, KGN Industries, Marico, Jyothy Labs and Kirloskar Brothers lost 2.6-5.8%. In smallcap space, Valecha Engg, Surana Inds, Splash Media, Odyssey Finance and Kama Holdings jumped 8-10% while Rossell Tea, India Securities, Gokaldas Export, Garware Offshore and Spectacle Info slipped 3-5%. Nifty struggles at 5700; Wipro, Bharti, Infy dip At 10:45 hours IST - equity benchmarks were extremely volatile in trade, with a negative bias amid tight range. Technology, healthcare, FMCG, metal and private financial companies' shares were pulling the markets down, along with Bharti Airtel, ONGC and Maruti. The 50-share NSE Nifty and 30-share BSE Sensex were trying very hard to get back above 5,700 and 19,000 levels, respectively. Respective indices were down 25 points and 88 points to 5,687 and 18,957 88. Gautam Shah of JM Financial sees support for the Sensex & the Nifty at 18700 and 5600. "The market continues to trade just above the 200-DMA which once broken could trigger forced unwinding." However, heavyweights like Reliance Industries, BHEL, SBI and NTPC were providing support to markets. Anil Dhirubhai Ambani Group companies' shares too were quite supportive. Wipro was the leading loser with 3.6% fall after its Q3FY11 numbers. Its Q3 net profit was up 3.4% to Rs 1,319 crore and dollar denominated Global IT revenues went up by 5.6% to USD 1.34 billion (QoQ), which were in-line with estimates. Suresh Vaswani and Girish Paranjpe stepped down as Joint CEOs. Now TK Kurien will be new CEO of Wipro. Other technology stocks were under pressure - Infosys was down 1.5% and HCL Tech down 0.8%. TCS was flat. Ahead of Q3FY11 earnings today, ITC slipped 0.7% while Reliance Industries, BHEL and PNB gained 1.25-1.5%. Among frontliners, HDFC, Sterlite Industries, Bharti Airtel and Jindal Steel were down 1.3-1.9%. However, Reliance Communications, M&M, Reliance Infrastructure, Bajaj Auto, Sesa Goa, PNB and Reliance Power gained 1.2-1.8%. In midcap space, BOC India, KGN Industries, Peninsula Land, Alok Industries and Dish TV India rallied 3.4-8% while Persistent, Kirloskar Brothers, Marico, Jyothy Labs and Shiv Vani Oil lost 2.4-7.8%. In smallcap space, Splash Media, Surana Industries, Kama Holdings, Marathon Nextgen and Zodiac Clothing jumped 7.4-9.5% whereas Rossell Tea, India Securities, Rollatainers, Sterling Holiday and Zenith Infotech fell 4-9%. Adani Enterprises, LIC Housing Finance, Tata Coffee, SBI, Reliance Industries and ICICI Bank were most active shares on exchanges. About 1486 shares advanced as against 914 shares declined on Bombay Stock Exchange. Nifty choppy, awaits RIL, BHEL, ITC nos; Wipro dips The benchmark Nifty retreated on Friday and shaved off yesteday's gains amid extreme volatility. The index was trying to hold 5700 level and the Sensex too with 19000-mark. Technology, metal, FMCG and private financial companies' shares were on sellers' radar whereas capital goods, Anil Dhirubhai Ambani Group and stocks (which will announce results today) were on buyers' radar. Wipro tanked 3% post Q3FY11 numbers. Its Q3 net profit was up 3.4% to Rs 1,319 crore and dollar denominated Global IT revenues went up by 5.6% to USD 1.34 billion (QoQ). Suresh Vaswani and Girish Paranjpe stepped down as Joint CEOs. Now TK Kurien will be new CEO of Wipro. Among frontliners, Sterlite Industries, Hindalco, Power Grid, BPCL, Bharti Airtel, Tata Motors, ICICI Bank, HDFC Bank, Axis Bank, ONGC, Infosys and TCS were witnessing selling pressure. However, Reliance Industries, BHEL and PNB were trading with 0.7% rise ahead of their numbers today. L&T and NTPC were other gainers in trade. At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,964, down 84 points and the 50-share NSE Nifty slipped 23 points to 5,688. However, the CNX Midcap rose 11 points to 8,213 and the Nifty Junior went up just 9 points to 11,361. About 345 shares advanced as against 280 shares declined on National Stock Exchange. Midcap & Smallcap space: NIIT Limited rallied 5% ahead of numbers. KPIT Cummins was up 0.9%. Orchid Chemical up 1%. Shasun Chemical and Cadila Healthcare jumped 3% each. TVS Motor rose 2%. SREI Infra was up 3%. Global cues: Asian markets were trading mixed. Shanghai bounced back with 1.9% jump. Hang Seng and Taiwan rose 0.2-0.5%. However, Nikkei and Kospi fell 0.9% each. The US markets recovered from day's low amid mixed economic data, results from US and continuous interest rate hike talks from China post strong macro data. Commodities retreated on Thursday. The Dow Jones Industrial Average ended down 2.5 points at 11823, after showing recovery of 78 points from day's low of 11,745. The Nasdaq Composite was down 21 points at 2,704, after seeing recovery of 19 points from day's low of 2686. The S&P 500 Index ended down 1.7 pionts at 1280, after seeing recovery of 9 points from day's low of 1,271. Commodities February gold contract was down 1.5% at USD 1345.6/ounce, hit its lowest levels in 2 months March silver contract declined 4.2% at USD 27.47/ounce, lowest levels in over 1.5 months March crude oil contract was down 2.3% at USD 89.61/bbl, hit its worst levels in about two weeks February natural gas contract was up 2.5% at USD 4.69 per MMBtu F&O cues: Total Nifty futures up Rs 818 crore, Options down Rs 801 crore Stock futures net add 3.45 crore shares in Open Int Nifty Fut Open Int net shed 1.8 lakh shares in Open Int; Nifty futures prme at 8 pts versus discount at 2 pts Nifty Open Int PCR up at 0.91 from 0.88 Nifty Put add 6.5 shares in Open Int, Call shed 23.4 shares in Open Int Highest Open Int outstanding on call side at 6200 call, 6000 call, 5600 Put, 5500 put Nifty Feb 5600 Put add 4.7 lakh shares in Open Int Nifty Feb 5500 Put add 4.5 lakh shares in Open Int Nifty Feb 5900 Call add 2.8 lakh shares in Open Int Nifty Feb 5400 Put add 2.8 lakh shares in Open Int Nifty Jan 5700 Call shed 15.8 lakh shares in Open Int Nifty Jan 6200 Call shed 5.6 lakh shares in Open Int Nifty Jan 5900 Call shed 4.9 lakh shares in Open Int Nifty Jan 5800 Call shed 2.8 lakh shares in Open Int