Mumbai: The markets have wiped out most of early gain and are trading choppy. Selling is seen in SBI, Infosys, L&T, BHEL, Siemens, Reliance Communications, NTPC, Suzlon Energy, Unitech, DLF, Reliance Infrastructure, Ranbaxy, Tata Steel, PNB, M&M, and Hindalco. However, Bharti, ONGC, ICICI Bank, Wipro, HDFC Bank, Sterlite, HDFC, TCS, and SAIL are on buyers' radar.
The Sensex rose 46 points to 8,742 and the Nifty gained 11 points at 2,665, at 10:30 hours IST. BSE Midcap and Small Cap indices went down over 0.5% each.
Unitech, Balrampur Chini and Sesa Goa fell over 5%.
Siemens plunged over 10% after its numbers for the fourth quarter. Its Q4 net profit was down at Rs 225 crore versus Rs 308.6 crore due to higher provision to cover cost overrun.
Margins declined to 12.5% versus 15.6%. New orders booked saw drop of 14% at Rs 8718.2 crore versus Rs 10108.5 crore.
Markets breadth is weak; about 1163 shares have advanced while 1512 shares have declined. Nearly 521 shares are unchanged.
In the midcap space, Simplex Infra, ESS DEE, Geodesic, Sadbhav Engg and Cadila Health lost 6-13%. However, United Breweries, Lakshmi Energy, Maha Seamless, Vishal Retail and Engineers Ind gained 4-6.5%.
Among the midcap stocks, Magma Fincorp, aurionPro Sol, Force Motors, Arihant Found and Ruby Mills fell 8-17.5%. However, Balkrishna Ind, Kewal Kiran, Dynamatic Tech, Webel SL Energy and Ramco System gained 11-16.5%.
Markets @ 9:56 am : Mkts rebound; RIL,ONGC, ICICI, HDFC Bank lead
The markets have opened higher as indicated by the SGX Nifty, which was up 2%, and following an up move in Asian markets.
The Nifty is still trading below 2,700 while the Sensex is trading below the 9,000 mark. Buying is seen in private banks, capital goods, cement, select technology and metal stocks.
At 9:56 am, the Sensex rose 91 points to 8,786 and the Nifty gained 23 points at 2,677. CNX Midcap went up 13 points to 3,284.
ICICI Bank, Wipro, Suzlon Energy, Unitech, HDFC, HDFC Bank, Tata Motors, L&T, BHEL, ACC, Ambuja Cements, Sterlite Industries, M&M and TCS are gainers.
However, losers are Siemens, Zee Entertainment, Infosys, Satyam, SBI, Nalco and Ranbaxy Labs.
Asian markets are trading higher barring Nikkei. Hang Seng, Kospi, Straits Times and Jakarta gained 1-4%. Shanghai and Taiwan rose 0.4-0.7%.
However, Nikkei fell 0.7% on back of profit booking as well as Yen appreciated by 1.5% to 95.2/$ and the index was up over 5% .
US markets ended flat even as the treasury commits up to USD 800 billion in two new programs to unfreeze credit markets & buy mortgage-related debt; policy makers hope initiatives will bring down interest rates on mortgages & consumer loans.
The Dow gained 36.08 points, or 0.43%, to 8,479.47. The S&P 500 gained 5.58 points, or 0.66%, to 857.39. The Nasdaq composite index slipped 7.29 points, or 0.50%, to 1,464.73.
FIIs net sell USD 77.2 million in equity on November 24
MFs net buy Rs 104 crore in equity on November 24
NSE F&O Open Int up by Rs 950 crore at Rs 53,448 crore
Futures Open Int up by Rs 443 crore, Options Open Int up by Rs 507 crore
Nifty Nov Futures shed 30 lakh, Dec Futures add 38 lakh shares in Open Int
Nifty Nov at 4-pt discount, Dec at 2-pt premium
Nifty Open Int Put-Call ratio at 0.84 versus 0.85
Nifty Puts add 4.7 lakh, Calls add 14 lakh shares in Open Int
Nifty 2600 Put adds 3.6 lakh shares in Open Int
Nifty 2700 Call adds 2.7 lakh shares in Open Int
Nifty 2800 Call adds 2.7 lakh shares in Open Int
Stock Futures Open Int unchanged