Mkts off day's high; Bankex down over 1%

Mumbai: The market has given up some of its gains, trading off day's high but still in the green.

The Nifty is hovering around 4900 mark. The Sensex is struggling at about 16400 levels. Uptrend continued in FMCG, realty, power, metal and technology stocks. However, banking stocks are still under selling pressure.

On the global front, Asian indices ended higher. European markets were trading mixed.

At 1:44 pm, the Sensex was up 41 points at 16,389 and the Nifty up 24 points at 4,899. Market breadth is positive, about 1601 shares have advanced, 1310 shares declined, and 196 shares are unchanged.

Biggest gainers were ITC, Wipro, Reliance Infra and Sterlite Industries while HDFC, SBI, HDFC Bank and Suzlon Energy losers.

Omaxe shot up over 2.3% as the company is planning to raise Rs 1,500 crore via equity in FY09.

Markets @ 12:49 pm : Mkts northbound; Wipro, JP Asso, R Comm top gainers

The markets are witnessing some choppy trade on the higher side but still trading firm. All BSE indices are in green barring Bankex.

Major buying seen in oil & gas, FMCG, power, realty, telecom, metal, capital goods, tea and fertiliser stocks. Midcap and small cap stocks are in uptrend. On the global front, Asian markets were trading higher; European markets strong.

At 12:49 pm, the Sensex was up 100 points at 16,448 and the Nifty up 47 points at 4,922.

Wipro, Reliance Communications, JP Associates and Reliance Infrastructure were top gainers, up over 3% each while HDFC, HDFC Bank and SBI top losers.

Most active shares were Bajaj Finserv, Reliance Power, Aishwarya Telecom, Reliance and Cairn India.

BSE Realty, FMCG, Oil & Gas, Power and Metal indices shot up around 1-1.5%. IT and Capital Goods went up nearly 1%. However, Bankex lost over 1%.

Fertilisers stocks gained buying interest due to the news that government is expecting FY09 fertiliser subsidy at Rs 95,013 crore. FACT, RCF, National Fertilisers and Chambal Fert have surged over 3%.

Markets @ 11:47 am : Mkts off day's high; Nifty holds above 4900

The markets are trading higher but off days high. Buying interest seen in technology, FMCG, realty, power, pharma, telecom, metal, capital goods and oil stocks. The Nifty still holds above 4900 mark. Midcap and small cap stocks still on buyers radar. Market breadth is positive. On the global front, Asian markets were trading higher.

At 11:47 am, the Sensex was up 55 points at 16,403 and the Nifty 34 points at 4,908. The BSE Midcap and small cap indices were up nearly 0.7%. About 1690 shares have advanced, 1224 shares declined, and 193 shares are unchanged.

FMCG stocks like ITC, Colgate, Britannia, Dabur India, Tata Tea and HUL have gained. The BSE FMCG index shot up over 1.4%.

Technology stocks including i-Flex Solution, Wipro, Mphasis, Satyam, Tech Mahindra, Infosys and TCS are also getting buying support. IT Index went up over 1%.

Top gainers were Satyam, Wipro, ITC and Ambuja Cements while SBI, HDFC Bank, HDFC and ICICI Bank losers.

However, banking stocks continued to remain under selling pressure. Bankex slipped over 1% due to sell off in major banking shares.

Markets @ 10:40 am : Mkts firm; cap goods, power, realty, oil stocks up

The market has lost some of its early trade gains but still trading higher with strong buying support from capital goods, power, realty, metal, oil and FMCG stocks. Market breadth is positive. Midcap and small cap stocks are strong. The Nifty holds above 4900 mark. The Sensex tried to get back above 16500 in opening trade but did not happen, still trading below that mark. On the global front, Asian markets were trading higher.

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At 10:40 am, the Sensex was up 93 points at 16,441 and the Nifty up 42 points at 4,917. The BSE Midcap and small cap indices were up 0.9% and 1.1%, respectively. About 1653 shares have advanced, 1284 shares declined, and 170 shares are unchanged.

BHEL, JP Associates, Reliance Infra, ABB and Reliance Communications were top gainers while HUL, HDFC Bank, ICICI Bank, Hero Honda and HCL Tech losers.

Amongst midcap space, Firstsource Sol, BF Utilities, United Breweries, ESS DEE, Kalyani Steels, Omaxe and Monnet Ispat went up over 4%.

Small cap stocks like Bannariamman, Widia, Zandu Pharma, Greenply Ind, Jagatjit Ind and Jayshree Tea have gained over 6%.

BSE Capital Goods Index jumped 1.67% as buying seen in BHEL, Rel Ind Infra, ABB, Crompton Greaves, Bharat Bijlee and AIA Engineering.

Power stocks like GMR Infra, GVK Power, Reliance Infra, Torrent Power, Suzlon Energy, Reliance Power and NTPC have charged up. Power Index rose 1.6%.

Metal Index increased over 1% due to gains in JSW Steel, Guj NRE Coke, Ispat Industries, Hind Zinc, Sesa Goa, NALCO, Tata Steel, SAIL and Hindalco.

Oil stocks RNRL, Essar Oil, Cairn India, IOC, HPCL and Petronet LNG also surged. Oil & Gas Index shot up over 1%.

Realty Index climbed over 1% as Omaxe, Akruti City, HDIL, Parsvnath, Peninsula Land and Unitech gained.

Most active counters on the bourses were RNRL, Cairn, Reliance Capital and BHEL.

However, some banking stocks were witnessing selling pressure, Bankex down marginally.

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Markets @ 9:56 am : Mkts bounce back in opening trade on positive Asian cues.

The markets have broken losing streak of three consecutive days and opened higher following positive cues from Asian markets and buying interest back in by oil, capital goods, telecom, power and technology stocks. The Nifty started trading above 4900. Market breadth is positive, 383 shares advanced while 64 shares declined. Midcap and small cap stocks also bounced back.

At 9:56 am, the Sensex was up 155 points at 16,503 and the Nifty up 44 points at 4,919. The CNX Midcap went up 65 points at 6647.

Idea, Rel Petro, Cairn, Bharti Airtel, Rel Comm, NTPC, PNB, BHEL, Rel Infra and Ambuja Cements were gainers.

Eicher Motors continued its rally, up over 13% in early trade on the yesterday's news that promoters are planning to buyback 13.13% equity at Rs 691.68 per share.

Firstsource Solutions surged nearly 12% on the buzz that Warbug Pincus is eyeing stake in the company.

TCS went up marginally by 0.7% as the company bagged 5-year contract from NXP Semiconductors worth $ 100 million.

Asian markets were trading higher. Hang Seng was up 0.67% or 162.52 points at 24,289.83. Nikkei 225 Average went up 126.51 points or 0.92% at 13,816.70. Jakarta Composite was up 15.46 points or 0.64% at 2,435.18.

Straits Times rose 0.36% or 11.02 points at 3,114.32. Seoul Composite was up 0.96% or 17.29 points at 1,817.87. Taiwan Weighted went up 0.36% or 31.11 points at 8,738.94. However, Shanghai Composite was down marginally by 2.9 points or 0.09% at 3,361.64.

Market cues:

FIIs net sell $124.1 mn in equity on May 23

MFs net buy Rs 18.6 cr in equity on May 23

NSE F&O Open Interest up by Rs 2,237 crore at Rs 84,568 crore

F&O cues:

Futures Open Interest up by Rs 1,203 crore and Options Open Interest up by Rs 1,034 crore

Nifty May Futures shed 5.5 lakh shares in Open Interest

Nifty June Futures add 42 lakh shares in Open Interest

Nifty June at 6-point discount, May at par

Nifty Open Interest PCR at 1.27 Vs 1.31

Nifty Puts add 5.4 lakh shares in Open Interest

Nifty Calls add 12.7 lakh shares in Open Interest

Nifty June 4800 Put adds 4.3 lakh shares in Open Interest

Nifty May 4800 Put adds 1.6 lakh shares in Open Interest

Nifty June 4700 Put adds 4.1 lakh shares in Open Interest

Nifty May 5000 Put sheds 2.7 lakh shares in Open Interest

Nifty May 4900 Call adds 4.2 lakh shares in Open Interest

Nifty May 4800 Call adds 3.5 lakh shares in Open Interest