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Mkts flat; IT stocks down; FMCG, realty, metal up
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Markets have opened higher on the back of good IT bellwether Infosys Technologies' first quarter numbers and positive US markets' cues but it could not maintain that gain for long. It immediately turned into choppy trade.
Technology stocks are trading lower, which seemed that markets do not like Infosys Q1numbers and guidance for FY09.
At 9:56 am, the Sensex was up 22 points at 13,947 and Nifty up 17 points at 4,178. Nifty July Futures was trading at 20 points discount.
Amongst frontliners, Cairn India, DLF, TCS, Wipro, Grasim, BHEL, ITC, ACC and Ambuja Cements have gained.
On the primary market front, Lotus Eye Care Hospital has opened at Rs 36 as against issue price of Rs 38 per share.
Asian markets were trading higher. Nikkei was up 0.3%, Straits Times 1.05%, Kospi 1.45%, Taiwan Weighted 1.9% and Hang Seng 1.4%. However, Jakarta fell 0.2%.
Crude has rebounded by more than USD 5 to settle at more than USD 141 a barrel.
US markets managed to end in the green after a wild session. The Dow gained 81.58 points, or 0.73%, at 11,229.02. The Standard & Poor's 500 index rose 8.70 points, or 0.70%, to 1,253.39, while the Nasdaq composite index added 22.96 points, or 1.03%, to 2,257.85.
Market cues:
* FIIs net sell $ 71.3 mn in equity on July 9: SEBI
* MFs net buy Rs 204.7 cr on July 9: SEBI
* NSE F&O Open Int up by Rs 379 cr at Rs 71, 545 crore
F&O cues:
* Nifty up 0.12%; OI down by 4%
* Futures Open Int down by Rs 358 cr; Option Open Int up by Rs 737 cr
* Nifty Futures at 16 pts discount Vs 20 pts discount a day ago
* Nifty Futures OI down by 16 lakh shares in Open Int
* Stock Futures add 46 lakh shares in Open Interest
* Nifty Open Int Put-Call ratio at 1.27 Vs 1.26
* Nifty Puts add 7.9 lakh, Nifty Calls add 4.4 lakh shares in Open Int
* Nifty 4100 Puts add 3 lakh shares in Open Int
* Nifty 4000 Puts add 2.9 lakh shares in Open Int
* Nifty 4300 Calls add 1.8 lakh shares in Open Int
* Nifty 4200 Calls add 1.6 lakh shares in Open Int
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Reliance Industries: SOTP-based valuation has increased by Rs51/share to Rs1,022/share says Motilal oswal
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