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Mkts open lower on rising oil, -ve Asian cues
Published on Fri, Aug 22, 2008 at 10:23 in Markets section
Tags: Markets, Sensex. Nifty , Mumbai
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Mumbai: Markets have opened marginally lower following weak Asian cues and increase in Crude oil price above $ 121 a barrel.
Amongst frontliners, ONGC, ICICI Bank, BHEL, Maruti, Unitech, Reliance Infra, Idea, HDFC, M&M, JP Associates, NTPC, Siemens, Ambuja Cements and Grasim have lost ground. However, Sterlite, Hindalco, Cairn, Tata Steel and SAIL have gained.
At 9:56 am, the Sensex fell 54 points at 14,189 and Nifty down 20 points at 4,263. CNX Midcap 100 lost 0.57 per cent at 5,608.
Nymex Oct Crude gains over 4.5 per cent at above $121/bbl on concerns that Russia may disrupt oil flow. Russia defied call for immediate withdrawal of troops from Georgia. USD declined to one-month lows versus Euro.
Credit crisis woes led to money flowing back in commodities. Mexican oil production declined 10 per cent this year.
US markets ended mixed. There were 3 factors responsible. Jump in oil prices boosted oil stocks like Exxon Mobil, speculation about a government bailout of Fannie Mae and Freddie Mac, and a possible takeover of Lehman Brothers.
The Dow Jones gained 12.78 points, or 0.11 per cent, to 11,430.21. The S&P 500 index advanced 3.18 points, or 0.25 per cent, to 1,277.72, and the Nasdaq composite index slipped 8.70 points, or 0.36 per cent, to 2,380.38.
Meanwhile, Inflation continues its upward climb. It touched 12.63 for the week ending August 9. Last week the figure was 12.44 percent. While fuel and power prices didn't change, prices of essential commodities rose to 6.74 per cent from 6.54 per cent
Market cues:
· Commodities rebound; oil gains 4 per cent at $121, gold jumps 3per cent, silver up 5.2per cent
· Dollar declines to 1-month lows Vs euro
· FIIs net sell $70.8 mn in equity on Aug 20
· MFs net buy Rs 78.6 cr in equity on Aug 20
· NSE F&O Open Int up by Rs 14 crore at Rs 81,069 crore
F&O cues:
· Nifty down 3 per cent; Open Interest up 1 per cent
· Futures Open Int down by Rs 1,292 cr, Options Open Int up by Rs 1,306 cr
· Nifty Futures add 4 lakh shares in Open Int, premium at 4-pt Vs 21 pts a day ago
· Stock Futures net shed 1.85 cr shares in Open Int
· Mini Nifty adds 58 per cent in OI (3 lakh shares)
· Bank Nifty adds 19 per cent in OI (86,000 shares)
· Nifty Open Int Put-Call ratio at 1.01 Vs 1.09
· Nifty Puts add 47,000 shrs; Calls add 27.5 lk shrs in Open Int
· Nifty Aug 4300 Call adds 9 lakh shares in Open Int
· Nifty Aug 4400 Call adds 7.25 lakh shares in Open Int
· Nifty Sep 4100 Put adds 3.5 lk shrs in Open Int
· Nifty Sep 3900 Put adds 2 lk shrs in Open Int
Nifty Sep 4200 Put adds 2 lk shrs in Open Int
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