Nifty slips amid volatility; financials, metals, realty dip
The benchmark Nifty opened Wednesday's trade on a negative note following weak Asian cues and profit booking. Financial, auto and metal companies' shares were down today while heavyweights like Reliance Industries and L&T were supporting.
January 05, 2011 / 10:41 IST
The benchmark Nifty opened Wednesday's trade on a negative note following weak Asian cues and profit booking. Financial, auto and metal (fall in CRB index on Tuesday) companies' shares were down today while heavyweights like Reliance Industries and L&T were supporting. There was a bit of volatility as well.
Among frontliners, HUL, ICICI Bank, SBI, HDFC, HDFC Bank, Sterlite Industries, Bharti Airtel, NTPC, SAIL, Wipro, Infosys, Maruti, M&M, Hero Honda and Bajaj Auto were witnessing selling pressure.However, L&T, TCS, HCL Tech, Reliance Industries, Jaiprakash Associates and BPCL were on buyers' radar.Ranbaxy Labs lost nearly 2% as company and Merck called off deal for anti-infectives, reports CNBC-TV18 quoting PharmAsia News.Dr Reddy's Labs gained marginally as Merck shifted project to arm of Dr Reddy's and Aurigene, reports CNBC-TV18 quoting sources.L&T gained 0.5%.Ashok Leyland was up 1.5% as its December total sales stood at 7,568 units versus 6,110 (YoY).At 9:17 hours IST, the 30-share BSE Sensex fell 60 points to 20,438 and the 50-share NSE Nifty slipped 24 points to 6,121. The CNX Midcap declined just 3 points at 8,897. About 434 shares advanced as against 455 shares declined on National Stock Exchange.Midcap & Smallcap space:Shasun Chemical and Natco Pharma were up 2%. Prism Cement was up 3.2% and India Cements up 0.8%. JBF Industries rose 3% and Bata India gained 1.8%.Chambal Fertiliser, Nagarjuna Fertilisers, Madras Fertiliser and RCF went up 2-4%. The GoM is going to meet to decontrol urea prices today.Welspun India shot up 9%. Dabur was up 2% and Everest Kanto up 1.5%. KRBL and Geometric gained 2% each. Dhampur Sugar was up 0.85%._PAGEBREAK_Asian markets trading lower on profit booking. Shanghai, Hang Seng, Nikkei and Kospi fell 0.1-0.4%. Taiwan lost 1.6%.The US markets ended flat as no major cues from FOMC minutes. Commodities witnessed profit booking on Tuesday.The Dow Jones Industrial Average ended up 21 points at 11691; the Nasdaq Composite was down 10 points at 2681 and S&P 500 down 2 points at 1270.CommoditiesCRB Commodity Index fell 1.6%Precious metals shed 3.6% and soft commodities were down 2.7% March silver shed 5.1% at USD 29.51/ounceFebruary gold contract was down 3.2% at USD 1378.8/ounceFebruary crude oil contract was down 2.4% at USD 89.38/barrel, hit its worst levels in nearly 2 weeks during the dayFebruary natural gas was up 0.1% at USD 4.66 per MMBtu Baltic Dry Index was down 4.5%.Sugar was down 3.2%. F&O cues: Total Nifty futures up Rs 752 crore, Options up Rs 3376 croreStock futures net add 1.67 crore shares in Open IntNifty Fut Open Int net add 4.1 lakh shares in Open IntNifty futures prem at 14 pts versu 26 pts Nifty Open Int PCR down at 1.37 versus 1.41Nifty Put add 10 lakh shares in Open Int, Call adds 19.6 lakh shares in Open IntNifty 6300 Call adds 6 lakh shares in Open Int Nifty 5700 Put adds 6 lakh shares in Open Int Nifty 6200 Call adds 5 lakh shares in Open IntNifty 6400 Call adds 1.8 lakh shares in Open IntNifty 6100 Put sheds 3.2 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!
