Mumbai: Markets have opened lower on the back of weak global cues and there is selling pressure in banking, oil, metal and telecom stocks. However, technology stocks are on the buying spree as rupee is back to its 40 per dollar mark.
At 0956 hours, the Sensex was down 85 points at 17,991 and the Nifty down 33 points at 5,247. ICICI Bank, ONGC, SAIL, Reliance Comm, BHEL, L&T, ABB, Unitech, HDFC, DLF and Reliance Energy are some of losers in largecap stocks.
Technology stocks like Infosys, Wipro, Satyam and HCL Technologies have gained. On the primary market front, Bang Overseas listed at Rs 212 as against its issue price of Rs 207 and Shriram EPC debuted at Rs 310 as against issue price of Rs 300.
Wall Street fell after oil surged above USD 100 a barrel, erasing earlier gains on concerns that higher energy costs could fan inflation and cut consumer spending and profits.
The Dow Jones industrial average was down 10.99 points, or 0.09 per cent, to 12,337.22. The Standard & Poor's 500 index slipped 1.21 points, or 0.09 per cent, to 1,348.78; and the Nasdaq composite fell 15.60 points, or 0.67 per cent, to 2,306.20.
Market cues:
> FIIs net sell $28.7 million in equity on Feb 18
> MFs net sell Rs 45.1 crore in equity on Feb 18
> NSE F&O Open Interest up by Rs 182 crore at Rs 74,838 crore
F&O cues:
> Futures Open Interest down by Rs 361 crore,
> Options Open Interest up by Rs 543 crore
> Nifty Futures shed 10 lakh shares in Open Interest; at 20-pt discount
> Stock Futures shed marginal Open Interest
> Nifty Open Interest PCR at 0.95 Vs 0.93
> Nifty Puts add 6.1 lakh shares in Open Interest
> Nifty Calls add 3.1 lakh shares in Open Interest
> Nifty 5300 Put adds 2.7 lakh shares in Open Interest
> Nifty 5400 Call adds 1.3 lakh shares in Open Interest
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