Nifty lacklustre; L&T looks jittery ahead of results
The Indian markets opened in green echoing Asian markets move. The benchmark index Nifty was inching towards 5450 mark. Analysts suggest that the Nifty might bounce back 50-100 points on back of expiry next week.
The Indian markets opened in green echoing Asian markets move. The benchmark index Nifty was inching towards 5450 mark. Analysts suggest that the Nifty might bounce back 50-100 points on back of expiry next week. There are huge shorts in the market and rollover will start to pick up from tomorrow which may lift Nifty 50-100 points on profit booking and rollovers.
At 09.22 hrs IST, the Sensex was up 61.39 points or 0.34% at 18147.59, and the Nifty was up 15.80 points or 0.29% at 5436.40. About 636 shares advanced, 349 shares declined, and 2656 shares remain unchanged.L&T is set to announce its fourth quarter results today. According to CNBC-TV18 poll, net sales may surge 18.5% at Rs 16100 crore versus Rs 13585.10 crore. Operating profit margins are seen at 14.22% Vs 15.09%. Nifty gainers: GAIL, ITC, Sterlite Industries, Bajaj Auto and Reliance Capital were up 1-2%. Nifty losers: Tata Power, Hero Honda, Larsen, Grasim and DLF were down 1-1.5%.Index heavyweight Reliance was trading at Rs 905.85 up 0.45% from its previous close of Rs 901.80. Cigarette major ITC was trading at Rs 191.20 up 1.19% from its previous close of Rs 188.95.Midcap gainers: Hindustan Nat Glass, National Fertilisers, 3M India, Pantaloon Retail and Shree Global were up 2-12%. Midcap losers: Kwality Dairy, Page Industries, SKS Microfinance, Orchid Chemical and KGN Industries were down 3-5%. Smallcap gainers: Sahara One, Dolphin Offshore, Centrum Finance, ITI and Elecon Engineering were up 3-11%. Smallcap losers: Kalyani Invest, Lumax Inds, R M Mohite Ind, Subros and Empee Sugars were down 5-7%.Trading strategy by Angel Broking: In the coming trading session, a relief rally or a pullback towards the levels of 18331 - 18407 / 5480 - 5500 may attract selling pressure. However, we would still maintain our view that since the Daily trend remains down, traders are advised to avoid long positions. On the downside, 17878 - 17792 / 5376 - 5348 levels may act as support for the day.Global Cues: Yesterday the US markets closed higher snapping a 3-day losing streak as commodity prices rebounded, and the Federal Reserve gave no indication about tightening the monetary policy anytime soon in its latest minutes. The Dow rose 81 points to close at 12,560. The S&P 500 rose 12 points to close at 1,340, while the tech-heavy Nasdaq rose 32 points. The CBOE volatility index fell to nearly 16. The Asian indices were trading mixed.Market cues:
Fed signal low interest rates; crud back above $100
Results Today: L&T, Jet, Ashok Leyland, Tata Power, Wockhardt, SREI, Voltas, Gammon Infra
FIIs net sell USD 54 million in the cash market on May 17
MFs net sell Rs 632 cr in the cash market on May 17
NSE F&O Open Int was up Rs 4637cr at Rs 1.5 lakh crF&O cues:
Total Futures Open Int was up Rs 419 cr, Total Options Open Int was up Rs 4217 cr
Total stock futures Open Int add 2.65 cr shares in Open Int
Nifty futures Open Int shed 1.58 lakh shares in Open Int, premium at 3.45 pts vs premium at 8.45 pts
Nifty Open Int PCR at 0.89 vs 0.90
Total Put adds 30.11 lakh shares, call adds 41.72 lakh shares
Highest OI outstanding at 5600 call, 5500 call and 5400 put
Nifty 5400 call adds 22.93 lakh (56%) shares in Open Int
Nifty 5200 put adds 17.84 lakh (38%) shares in Open Int
Nifty June 5200 put adds 9.38 lakh (49%) shares in Open Int
Nifty 5500 call adds 9.02 lakh (12%) shares in Open Int
Nifty 4900 June put adds 2.83 lakh (40%) shares in Open Int
Nifty 5600 June call adds 2.73 lakh (23%) shares in Open Int
Nifty 5500 put sheds 4.5 lakh (8%) shares in Open Int
Nifty 6000 call sheds 4.04 lakh (7%) shares in Open Int
Nifty 5600 put sheds 3.31 lakh (10%) shares in Open Int
Nifty 5400 June put sheds 2.6 lakh (11%) shares in Open Int
Nifty 5300 put sheds 1.9 lakh (3%) shares in Open Int
India VIX down 1.52 % at 20.71 -Deccan Chronicle, PFC, PUNJLLOYD In F&O ban 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!
