Nifty tests 5650 on weak Asian cues; RIL, SBI, Bharti slip
The benchmark Nifty slipped in opening trade following downward trend in Asian markets. Index has tested 5650 level in early trade.
January 20, 2011 / 09:30 IST
The benchmark Nifty slipped in opening trade following downward trend in Asian markets. Index has tested 5650 level in early trade, led by fall in telecom (Mobile number portability launched today), financial, oil & gas and metal companies' shares.
Among frontliners, Reliance Communications, Bharti Airtel, Tata Motors, Sesa Goa, Jindal Steel & Power, Sterlite Industries, Reliance Capital, Jaiprakash Associates, HCL Tech, Reliance Industries, SAIL, SBI, ICICI Bank and PNB were witnessing selling pressure.However, Kotak Mahindra Bank (ahead of numbers today), Bajaj Auto, Wipro (ahead of numbers tomorrow), Hero Honda and M&M gained.At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,841, down 137 points and the 50-share NSE Nifty fell 43 points to 5,647. The CNX Midcap lost 42 points to 8,130 and BSE Smallcap declined 34 points to 8,867. The Nifty Junior slipped 61 points at 11,265. About 168 shares advanced as against 536 shares declined on National Stock Exchange.New listing - C Mahendra Exports was trading at Rs 118, with a premium of 7% over issue price.Midcap & Smallcap space:Results reaction: Orchid Chemical was up 0.5% and Uflex up 1.5% while LIC Housing Finance fell 1.4%.YES Bank was up 0.6% and TVS Motor up 2% ahead of numbers today.KRBL was down 4% and Orient Green down 3.4%.
Zee Entertainment, Canara Bank, Jet Airways, Bajaj Hindusthan and Hindustan Motors were down 1.5-2.5%.Peninsula Land tanked 4%.Global cues:Asian markets were trading lower. Shanghai, Hang Seng and Nikkei fell one percent each. Straits Times, Kospi and Taiwan were down 0.2-0.7%._PAGEBREAK_The S&P 500 and Nasdaq witnessed worst single-session losses in almost two months post poor numbers from Goldman Sachs and fall in US housing starts hurt sentiment. But Dow Jones finished flat amid support from IBM.The Dow Jones Industrial Average ended down 13 points at 11,825. The Nasdaq Composite was down 40 points at 2,725 and S&P 500 Index down 13 points at 1,282.CommoditiesFebruary natural gas contract was up 2.7% to USD 4.55 per MMBtuFebruary crude oil contract was down 0.6% at USD 90.86/bblFebruary gold contract was up 0.1% at USD 1370.20 per ounceMarch silver contract fell 0.1% at USD 28.80 per ounce F&O cues: Total Nifty futures up Rs 862 crore, Options up Rs 792 croreStock futures net add 1.6 cr shares in Open IntNifty Fut Open Int net add 7.9 lakh shares in Open Int; Nifty futures discount at 2 pts versus 9 pts prem Nifty Open Int PCR down at 0.88 versus 0.89Nifty Put shed 53k shares in Open Int, Call add 13.3 shares in Open IntHighest OI outstanding on call side at 6200 call, 6000 call, 5700 call, 5600 PutNifty Jan 5500 Put add 9 lakh shares in Open IntNifty Jan 5700 Call add 5.6 lakh shares in Open IntNifty Feb 5800 Call add 5.5 lakh shares in Open IntNifty Feb 5400 Put add 4.8 lakh shares in Open IntNifty Feb 5900 Call adds 4.2 lakh shares in Open IntNifty Jan 5800 Put shed 6.9 lakh shares in Open IntNifty Jan 5700 Put shed 5 lakh shares in Open IntNifty Jan 5400 Put shed 3.8 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!
