Markets open flat; buying in pharma, power

JUST HANGING IN THERE: Sensex has been hovering near the 15,000 mark.

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Mumbai: The markets have opened modestly higher on the back of positive cues from Asian markets but due to fighting in bulls-bears have pushed the markets towards volatility.

Buying has seen in pharma, power, realty and metal stocks while selling in technology. Midcap and small cap stocks are trading in positive terrain.

At 0956 hrs IST, the Sensex was up 92 points at 15,789 and the Nifty up 24 points at 4677. BSE Midcap and small cap indices were up over 0.7 per cent each.

Amongst frontliners, DLF, HDFC, HDFC Bank, Reliance Petro, L&T, Ranbaxy Labs, SAIL, Idea Cellular, Ambuja Cements, ITC, BHEL, BPCL, Cipla, ONGC, JP Associates and NTPC have gained while TCS, Wipro, Infosys, HUL, ICICI Bank, M&M, Wipro and SBI lost ground.

Asian markets were trading marginally higher. Nikkei was up 0.5 per cent, Hang Seng 1.2 per cent, Taiwan Weighted 0.5 per cent, Kospi 0.7 per cent and Straits Times 0.27 per cent.

US markets closed lower on account of a warning from Goldman Sachs that banks may need to raise another $ 65 billion to tide over the credit crisis.

The Dow plunged 108.78 pints, or 0.89 per cent, to 12,160.30. The Standard & Poor's 500 index declined 9.21 points, or 0.68 per cent, to 1,350.93, while the Nasdaq composite index lost 17.05 points, or 0.69 per cent, to 2,457.

Market cues:

• FIIs net sell $132.1 mn in equity
• NSE F&O Open Interest up by Rs 3,761 crore at Rs 86,090 crore

F&O cues:

• Futures Open Interest up by Rs 2,129 crore and Options Open Interest up by Rs 1,632 crore
• Nifty Futures shed 1.6 lakh shares in Open Interest
• Nifty Open Interest Put-Call ratio at 1.54 Vs 1.60
• Nifty Puts add 14 lakh shares in Open Interest
• Nifty Calls add 18 lakh shares in Open Interest
• Nifty 4600 Put adds 5.8 lakh shares in Open Interest
• Nifty 4500 Put adds 4 lakh shares in Open Interest
• Nifty 4600 Call adds 10 lakh shares in Open Interest
• Stock Futures add 2 cr shares in Open Interest