Nifty closes below 4600; RIL, ONGC, Bharti, NTPC, L&T drag

The Sensex ended weak for the fourth consecutive session led by fall in shares of oil & gas exploration, capital goods, pharma, select auto and power stocks. Heavyweight Bharti Airtel also added some pressure. It was another consolidation day for the markets. The Sensex closed at 15,378, down 88 points and the Nifty fell 17 points, to 4,590 (provisional figures). This story will be updated soon. Please check it in a while... Continued on the next page... _PAGEBREAK_ Sensex trades higher; oil mkting, banks, metals, realty up At 12:40 hours IST, the Sensex continued to trade higher along with some volatility. Metal, banking, realty, oil marketing, FMCG, select technology, power and pharma companies shares were witnessing buying interest. However, selling in Reliance Industries, Bharti Airtel, Tata Power, Cipla, HCL Tech and Tata Motors capped the gains. The Sensex was up 67 points, to 15,535 and the Nifty rose 27 points, to 4,635. The broader indices were up 1-1.4%, as about 1,792 shares advanced while 1,004 shares declined on the BSE. Nearly 393 shares were unchanged. In the oil & gas space, BPCL, GAIL, IOC, HPCL and Essar Oil gained 2.4-3%. Cairn India was up 0.51% and ONGC up 0.29%. Banking stocks like Axis Bank, ICICI Bank, Kotak Mahindra and SBI went up 0.9-1.7%. In the realty space, Omaxe, Unitech, Sobha Developer, HDIL and Ackruti City were up 1.5-2.5%. DLF and Indiabulls Real moved up 0.8%.. In the metal pack, Sterlite Industries, JSW Steel, Jindal Saw, SAIL and Sesa Goa went up 1-3%. Tata Steel, Jindal Steel and Hindalco gained 0.6-0.9%. Power stocks like Torrent Power, Suzlon Energy and Reliance Infrastructure went up 1-3.8%. Siemens and Reliance Power were up 0.7%. In the FMCG pack, Dabur India surged 2.80%. Tata Tea, Godrej Consumer, Colgate, ITC and HUL gained 0.5-1.8%. Top percentage gainers - Todays Writing, Ind-Swift Labs, Archies, Geodesic, Times Guaranty, Swiss Glascoat and Pioneer Distilleries were up 10-15.5%. Top percentage losers - Aroni Comm, Gremach Infra, Steelcast, Nippo Batteries, Axis Capital, Tinplate, Fame India, Austral Coke and Shasun Chemical lost 5.5-10%. Continued on the next page... _PAGEBREAK_ Nifty gains strength; broader indices outperform At 11:16 hours IST, the Nifty gained some strength again but the volatility remained in the markets. Buying in metal, realty, auto, select power, pharma and banking stocks was helping the markets to stay on the higher side. Reliance Communication surged 4.5%. However, selling in Bharti, Tata Power, Cipla, HCL Tech and HDFC capped the gains to some extent. Asian markets were also supportive; Shanghai was up 3.6%. Hang Seng, Jakarta, Straits Times and Taiwan Weighted gained 0.5-1.3%. However, Nikkei was down 0.44%. The Sensex rose 74 points, to 15,543 and the Nifty up 27 points, to 4,635. The broader indices were outperforming the benchmark indices, up 1.3-1.5%. About 1,758 shares advanced while 1,027 shares declined on the BSE. Nearly 403 shares were unchanged. All the sectoral indices were in the green; the Realty Index was up 2%. Metal and Auto indices gained over 1%. In the metal space, Sterlite Industries, SAIL, Tata Steel, JSW Steel, Sesa Goa, Hindalco and NALCO were up 0.7-2.3%. Auto stocks like Bajaj Auto, Amtek Auto, Bharat Forge, Ashok Leyland, Hero Honda and Maruti Suzuki gained 1-3.5%. M&M and Tata Motors went up 0.4-0.5%. In the realty space, Omaxe, HDIL, Unitech, Indiabulls Real, Ackruti City, Sobha Developer and DLF gained 1.4-3.5%. Sensex erases early gains; tech, pvt financials weak At 10:18 hours IST, the Sensex erased its early gains and turned volatile again. Selling in technology and private financials capped the gains. Bharti Airtel, ONGC, ICICI Bank and Reliance Industries were flat in trade. Tata Power, ITC and Cipla were down. However, buying continued in realty, auto, metal and oil marketing companies' shares. Reliance Communication continued its run up in today's trade as well, up 3.5%. SBI, Suzlon, BHEL, Reliance Infrastructure and HUL were also up. The Sensex was down 14 points, to 15,452 while the Nifty was flat at 4670. However, the broader indices were outperforming the benchmark indices, up 0.8-1%. About 1663 shares advanced while 1113 shares declined on the BSE. Nearly 412 shares were unchanged. In the midcap space, Thermax, Jagran Prakashan, Cadila Health, Kirloskar Brothers and National Fertilisers were up 3-4.5% while Blue Dart, Pfizer, ICI India, CRISIL and MRF fell 1.6-2.6%. In the smallcap space, Navneet, KGN Industries, Marathon Nextgen, Swan Mills and VIP Industries gained 5% each. However, Delta Corp, Uflex, Austral Coke, PVP Ventures and Goodyear declined 4-5%. Suzlon Energy, Reliance Capital, Reliance Communication, Unitech, Essar Oil and Reliance Industries were most active shares on the bourses. Sensex bounces back; metals, auto, realty up The Sensex bounced back on the back of upside in Shanghai. Realty, auto, metals and telecom companies' shares were trading higher. At 9:57 am, the Sensex was up 80 points at 15,547 and the Nifty gained 26 points at 4,634. The CNX Midcap went up 65 points, to 6,093 and the BSE Smallcap up 69 points, to 6,938. About 570 shares advanced while 69 shares declined on the NSE.  Among the frontliners, Suzlon Energy, Reliance Communication (on the back of Reliance Infratrel IPO), Unitech, SAIL, DLF, Ranbaxy Labs, Sterlite Industries, Reliance Capital, Tata Steel, Maruti Suzuki, Tata Motors, Bharti Airtel, BPCL and M&M were the gainers. However, HDFC, HDFC Bank, Infosys and Wipro were weak in trade. Midcap space: Maytas Infra was up 4.5% and reached to Rs 130. It was the top traded counter on the NSE. Provogue was up 3% and Archies up 5%. Redington rose up 1.4% and Strides Arcolab up 4%. Newly listed, NHPC was up 1.5% at Rs 36.85 a share. Global cues: Asian markets were trading higher. Shanghai jumped 3.5%. Hang Seng was up 0.92%, Jakarta up 1.3%, Taiwan Weighted up 0.56% and Straits Times up 0.5%. However, Nikkei and Kospi fell marginally. The US markets fell for the fourth straight day on the back of some disappointing economic data. The Dow Jones Industrial Average was down 30 points at 9,280, which was off 50 points from day's high of 9,330. The S&P 500 Index was down 3.3 points at 995 and the Nasdaq fell 2 points at 1,967. Commodities: Crude gained marginally at $68/bbl. Gold was up 2.3% to $978/ounce, at 3-month highs. Silver was up 2% to $15.36/ounce, at 11-week highs. Copper was down 0.5% and was down 7% in past week. Nickel declined 3.2%, as inventories were up 48% YTD (year-to-date). Market cues: September 1, Source: SEBI -FIIs (foreign institutional investors) net sell $62.1 million in equity -Mutual Funds net buy Rs 93.5 crore in equity -NSE F&O Open Interest up Rs 2,080 crore at Rs 78,034 crore September 2, Source: NSE -FIIs net sell Rs 688 crore in cash markets (provisional data) -DIIs net buy Rs 74 crore in cash markets (provisional data) -FIIs net sell Rs 1,360 crore in F&O F&O cues: -Futures Open Interest up Rs 717 crore -Options Open Interest up Rs 1,363 crore -Nifty down 0.4%, Open Interest down by 1% -Nifty Futures ended with 6 points premium versus 2 points discount -Nifty implied volatility at 33-35% -Nifty Open Interest PCR (put-call ratio) at 1.22 versus 1.17 -Nifty Puts added 18 lakh shares in Open Interest -Nifty Calls added 1.8 lakh shares in Open Interest -Nifty 4500 Put added 9.7 lakh shares in Open Interest -Nifty 4400 Put added 3.7 lakh shares in Open Interest -Nifty 4900 Call added 2.4 lakh shares in Open Interest -Nifty 4700 Call shed 5.3 lakh shares in Open Interest -Nifty 4700 Call shed 3 lakh shares in Open Interest -Stock Futures added 2.8 crore shares in Open Interest