The benchmark indices gave up some early gains and are trading lower with some volatility. The Nifty has broken 3100 mark today as well and is hovering around that level.
Indices are seeing some selling pressure due to weakness in Reliance Industries, SBI, ICICI Bank, Unitech, L&T, Reliance Infrastructure, Tata Power, DLF, NTPC, Reliance Communications, HDFC Bank, Cipla, and ACC. However, buying continues in metal, select technology stocks as well as in , capital goods stocks as well as in Bharti Airtel, HDFC and Maruti.
The Sensex lost 18 points to 10,317 and the Nifty fell 14 points at 3,098, at 10:50 hours IST. BSE Midcap and Small Cap indices went up 0.7-1%.
Market breadth is positive; about 1642 shares have advanced while 1097 shares declined. Nearly 108 shares are unchanged.
BSE Metal Index rose 3% and IT Index gained nearly 1.5%.
Markets @ 9:56 am : Mkts +ve; metal, cement, tech, telecom gain
The markets have surged higher in early trade. Buying is seen in shares of metal, technology, cement, capital goods, auto and telecom stocks. Positive Asian markets also lent some support to markets.
At 9:56 am, the Sensex went up 111 points to 10,447 and the Nifty gained 24 points at 3,136. CNX Midcap 100 rose 34 points to 3,956. More than 45 stocks out of 50 are trading in green on the NSE Nifty.
Asian markets are trading higher barring Shanghai. Nikkei, Straits Times, Kospi, Taiwan and Jakarta went up 1-1.8%. Shanghai and Hang Seng are almost flat.
Crude Oil hit $50/bbl on Tuesday and settled down by 0.5% at $48.5/bbl. It is currently trading at USD 48.6 to a barrel on the NYMEX.
CRB Index rallied to 5-week high as base metals jumped. Base metals shot up ahead of an annual re-rating by major commodity indices.
US markets gained mildly in a volatile session, as US ISM services index rose unexpectedly and market is awaiting Obama's package. Base metals rallied ahead of the annual re-rating by major commodity indices.
Dow Jones ended up by 62.2 points or 0.7% at 9,015, which swung 150 points during the day. Nasdaq went up 24.2 points or 1.5% at 1,652 and S&P 500 was up 7.2 points or 0.8% at 935.
Market cues:
FIIs net buy USD 78.3 million in equity on January 5
MFs net buy Rs 185.8 crore in equity on January 5
NSE F&O Open Int up by Rs 872 crore to Rs 47,592 crore
F&O cues:
Nifty ends down 0.3%, Nifty Fut Open Int down by 2.8 lakh shares (-1%)
Total Fut add Rs 133 cr in Open Int, total Options add Rs 739 cr in Open Int
Nifty Fut end at par with spot, unchanged from a day earlier
Stock Futures add 48.5 lakh shares in Open Int, has already added 12 cr shares since beginning of series
Nifty Open Int PCR up to 1.23 versus 1.18
Nifty Calls add 2 lakh shares in Open Int, Puts add 15.7 lakh shares in Open Int
Highest Open Int outstanding changes at 3000 Put & 2900 Put
Nifty 3100 Put adds 5.8 lakh shares in Open Int (24%)
Nifty 3000 Put adds 3.9 lakh shares in Open Int (9.2%)
Nifty 2900 Put adds 3.7 lakh shares in Open Int (11%)
Nifty 2800 Put sheds 1.5 lakh shares in Open Int (-4%)
Nifty Dec 3100 Call adds 1 lakh shares in Open Int
