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Markets choppy post higher inflation numbers
Published on Fri, Jun 13, 2008 at 12:23, Updated on Fri, Jun 13, 2008 at 12:37 in 
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Mumbai: The markets are still trading with some volatility after higher inflation numbers, which seemed that it priced in.
Inflation for the week ended May 31 inched up at 8.75 per cent as against 8.24 per cent in earlier week, that is much higher than expectations of 8.32 per cent. Inflation for the week ended April 5 revised to 7.71 per cent versus 7.14 per cent earlier.
Wholesale Price Index (WPI) for all commodities went up by 0.6 per cent at 231.1 and for manufactured products up 0.7 per cent, Primary Articles up 0.9 per cent.
At 1158 hrs ISt, the Sensex was down 40 points at 15209 and the Nifty down 28 points at 4,510. The Nifty June Futures was trading at 4479, a discount of 31 points.
IT and Healthcare Index were up one per cent each, Bankex 0.7 per cent while Realty down 1.8 per cent, FMCG one per cent, Metal 0.95 per cent and Power 0.8 per cent.
Hindustan Unilever, DLF, Maruti Suzuki, SAIL, Tata Power and Hero Honda were top losers while Ranbaxy Labs, TCS, ICICI Bank and Zee Entertainment gainers.
Markets at 1137 hrs IST: Markets unstable ahead of inflation nos
The markets are witnessing some choppiness with negative bias ahead of inflation numbers, which likely to increase further. Selling continued in realty, metal, power and FMCG stocks while buying in banking, pharma and some technology stocks. Small cap stocks are trading higher. On the global front, Asian markets are mixed.
At 1137 hrs IST, the Sensex was down 24 points at 15,225 and the Nifty down 25 points at 4514. The Nifty June Futures was trading at 4482, a discount of 32 points.
Top gainers were Ranabxy Labs, ICICI Bank, SBI and Zee Entertainment while HUL, Maruti Suzuki, DLF, Tata Power and SAIL losers
Market breadth is positive, about 1626 shares have advanced, 1296 shares declined, and 197 shares are unchanged.
BSE Realty Index was down two per cent, Metal and FMCG one per cent each and Power 0.65 per cent while Healthcare up one per cent and Bankex 0.9 per cent.
Small Cap Index shot up nearly 0.9 per cent. Amongst small cap stocks, Vaibhav Gems, Hind Nat Glass, ETC Networks, Garware Wall, MSP Steel, Surana Ind, Lok Housing, SEL Manufacturing, Zandu Pharma, Ashiana Housing and Vikas WSP were up over 8 per cent.
Markets at 1038 hrs IST: Mkts volatile; realty, metal, power stocks down
The markets are trading with some volatility and not showing any direction. Selling pressure has seen in realty, metal, and some power and auto stocks while buying in pharma and some banking stocks. The Nifty is hovering around 4500 mark. Midcap and small cap indices are flat. On the global front, Asian markets are mixed.
At 1038 hrs IST, the Sensex was down 50 points at 15,200 and the Nifty down 27 points at 4,511. The Nifty June Futures was trading at 4480, a discount of 30 points.
Top gainers were Ranbaxy Labs, ICICI Bank and PNB while DLF, Maruti Suzuki, Hindustan Unilever, Hero Honda, Nalco and Sterlite Industries.
Market breadth is positive; about 1577 shares are advancing while 1355 shares declining. Nearly 187 shares are unchanged.
Reliance Industries, Ranbaxy Labs, Reliance Capital, Reliance Petroleum, Anus Labs and Shriram City were most active counters on the bourses.
Ranbaxy Labs surged over 3 per cent following the news that Pfizer might explore possibility of counter offer for Ranbaxy. Pfizer has shot up nearly 7 per cent.
Realty Index was down 2 per cent due to selling in Indiabulls Real, Peninsula Land, DLF, Omaxe, Unitech, Ansal Properties and HDIL.
Metal stocks like NALCO, JSW Steel, Sterlite Ind, Ispat Industries, Sesa Goa, SAIL, Hind Zinc and Tata Steel were also in the red. Metal Index fell 1.4 per cent.
Power Index went down 1 per cent as selling seen in Tata Power, Reliance Infra, NTPC, Reliance Power and Power Grid Corp.
Oil & Gas Index was down 0.5 per cent due to selling in HPCL, Essar Oil, RNRL, ONGC, Petronet LNG and Reliance Industries. However, buying has seen in IOC, GAIL and Cairn India.
However, Healthcare is the only Index trading higher. Pfizer, Ranbaxy Labs, Wockhardt, Aventis Pharma, Glenmark, Piramal Healthcare and Aurobindo Pharma have gained. Index was up 0.8 per cent.
Markets at 0956 hrs IST: Markets choppy in opening trade
Markets have opened with gap up of nearly 90 points but immediately turned into choppy mode. Buying has seen in technology, and some banking and pharma stocks. However, some realty, oil and capital goods stocks are down. Market breadth is in favour of advances.
At 0956 hrs IST, the Sensex was down 8.38 points at 15,241 and the Nifty up 6.95 points at 4532.
Amongst fronliners, ICICI Bank, JP Associates, Ranbaxy Labs, TCS, Siemens, Tata Motors, Infosys, Wipro, Satyam and PNB were gainers while ITC, BHEL, Reliance Industries, HUL and Bharti Airtel losers.
Asian markets were trading lower; Shanghai was down 1.3 per cent, Hang Seng 0.8 per cent, Nikkei 0.12 per cent and Straits Times 0.5 per cent.
US markets gave up most of their earlier gains in afternoon session. Stocks rallied on M&A news & better than expected retail sales. But Yahoo plunged on the news that Microsoft has walked away from a deal with Yahoo. The Dow gained 57.81 points, or 0.48 per cent, to 12,141.58. The Standard & Poor's 500 index advanced 4.38 points, or 0.33 per cent, to 1,339.87, while the Nasdaq composite index surged 10.34 points, or 0.43 per cent, to 2,404.35.
Market cues:
- FIIs net sell $37.6 mn in equity
- NSE F&O Open Int up by Rs 2,878 crore at Rs 80,886 crore
F&O cues:
- Stock Futures add 3.92 cr shares in Open Int
- Stock Futures have added 7.2 cr shares in Open Int in last 3 days
- Futures Open Int up by Rs 1718 cr, Options Open Int up by Rs 1159 crore
- Nifty Futures add 3 lakh shares in Open Int, at 22-pt discount
- Nifty Open Int Put-Call ratio at 1.61 Vs 1.65
- Nifty Puts add 10 lakh shares, Calls add 11.5 lakh shares in Open Int
- Nifty 4400 Put adds 2.7 lakh shares in Open Int
- Nifty 2008 June 4500 Call adds 1.68 lakh shares in Open Int
- Nifty 2011 June 4500 Call adds 1.5 lakh shares in Open Int, premium at Rs 1,000
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