Nifty ends with modest gains; Ambani group cos' shrs surge

he benchmark Nifty erased nearly all gains in last ten minutes of trade and closed the session on a flat note with positive bias, despite buying in Reliance group companies' shares. Financial, metal, realty, auto and pharma companies' shares along with ITC and ONGC dragged the Nifty below 4950 level. The Sensex wiped out 288 points and Nifty 86 points from day's high. Reliance was the buzz on the street today post Ambani brothers' patch up news. Billionaire Ambani brothers have at last struck truce. In a step towards reconciliation of their long-running feud on Sunday, Mukesh and Anil Ambani announced that they are ending non-compete agreements in a step they hoped would lead to cooperation between the two groups. Experts believe this would be good opportunity for Reliance Industries. Ashvin Parekh of Ernst & Young said this was a very good opportunity for Reliance Industries, especially in telecom. “The company would certainly explore entering the financial services sector.” He further went on to say that insurance and asset management could be easy options for RIL. Investment Advisor SP Tulsian, said, RIL could be interested in thermal power projects. “The company would be interested in acquiring two to three ultra mega power projects (UMPPs).” Shares of Mukesh Ambani group company Reliance Industries rose 2.7% and Reliance Industrial Infrastructure gained 11%. Even shares of Anil Ambani group companies like Reliance Communications, Reliance Power, Reliance Infrastructure and Reliance Capital went up 4-11%. RNRL surged 22.58%.   The 30-shares Sensex closed at 16,469.55, up 23.94 points and the 50-share NSE Nifty rose just 12.80 points to 4,943.95, which hit 5000 mark in early trade. However, the Nifty May Futures ended with 32 points discount, as per provisional data. In the capital goods space, Siemens was up 2% and L&T up 1.4%. BHEL rose 0.56% and ABB gained just 0.16%. Infosys, HCL Tech and Wipro from technology pack went up 0.7-1% while TCS was flat. However, SBI and HDFC from financial segment were down 1.7% each. Axis Bank was down 1.4%, PNB down 0.7%, ICICI Bank down 0.3% and HDFC Bank down 0.1%. _PAGEBREAK_ Hindalco from metal space tanked 4%. SAIL, Tata Steel and Sterlite Industries slipped 0.8-1.6% while Jindal Steel gained 1%. ITC from FMCG pack lost 1.2% while HUL rose 0.4%. DLF and Unitech from realty space declined 2% each. M&M and Maruti Suzuki from auto space were down over 1.7%. Tata Motors was down 0.4% while Hero Honda gained 2%. The BSE Midcap Index ended flat; while Smallcap Index rose just 0.6%. About 1733 shares advanced while 1221 shares declined on the BSE. Nearly 341 shares remained unchanged. In the midcap space, JM Financial, Shree Renuka, Jai Corp, Balrampur Chini and REI Six Ten were up 4.6-8.9% while Bajaj Finserv, Bayer Cropscience, Rajesh Exports, Tata Chemicals and Anant Raj Industries lost 3.7-6%. In the smallcap space, Zydus Wellness, Lloyds Metals, Sahara One and NRB Bearings went up 6.7-11.8%. However, Suashish Diamond tumbled 16.85% to Rs 190, as the company rejected discovered reverse book building price of Rs 320 per share. Its floor price was at Rs 220. CMI FPE, Ruby Mills, DCM Shriram Ind and Bajaj Auto Finance declined 5-7.5%. The markets reported total turnover of Rs 1,34,914.56 crore. This included Rs 12,328.40 crore from the NSE cash segment, Rs 1,18,524.33 crore from the NSE F&O and the balance Rs 4,061.83 crore from the BSE cash segment. _PAGEBREAK_ Nifty holds 4950; RIL, Rel Comm, Rel Power top gainers At 14:40 hours IST - the benchmark Sensex was up more than 100 points but was extremely volatile in trade. It erased nearly 150 points from day's high. Mukesh and Anil Ambani group companies' shares along with capital goods, telecom, technology, power and select metal companies' shares were supporting the markets. However, selling in HDFC, SBI, Hindalco, ONGC, DLF, Tata Power, Unitech, ITC, Maruti, ACC, Tata Steel, Sun Pharma and M&M capped the gains to major extent. The Sensex was trading at 16554, up 109 points and the Nifty was at 4959, up 28 points. The Nifty May future was trading with 5-7 points discount. The US index futures declined over 0.5%. Among European markets, FTSE and DAX were in negative terrain while CAC was up a bit. Top gainers on the BSE Midcap: JM Financial, Jai Corp, Shree Renuka, OnMobile Global and Gammon Infra were up 5-8%. Top losers on the BSE Midcap: Bajaj Finserv, Bombay Rayon, Indiabulls, Anant Raj Industries and Piramal Healthcare were down 2.6-6%.  Top gainers on the BSE Smallcap: Reliance Industrial Infra, Lloyds Metals, OM Metals Infra, Man Industries and NRB Bearings were up 7-13%. Top losers on the BSE Smallcap: Suashish Diamonds, CMI FPE, Ruby Mills, Kanani Industries and Subhkam Capital were down 5-13%. Sensex gives up some gains; HDFC, ONGC, ITC slip At 13:38 hours IST - the benchmark Nifty gave up some gains due to sell-off in HDFC, ONGC, ITC, GAIL, Sun Pharma, Maruti, Unitech, Power Grid, BPCL, Cipla and Tata Power. SBI also turned flat. Fall in European markets from day's high also put some pressure on the markets. However, the markets remained positive despite profit booking at higher levels. Reliance group companies' shares were quite supportive. Reliance Industries rose 3.5% and Reliance Industrial Infrastructure went up 13%. Reliance Power, Reliance Communications, Reliance Infrastructure and Reliance Capital were up 6-10%. RNRL gained 21%. The Sensex was trading at 16593, 147 points and the Nifty was at 4975, up 44 points. The broader indices also slipped from day's high; the BSE Midcap index was up 1% and Smallcap up 1.8%. About 2098 shares advanced while 818 shares declined on the BSE. Nearly 379 shares were unchanged. Adani Enterprises, Piramal Health, Reliance Industries, Reliance Natural Resources, Reliance Infra and Tata Motors were the most active shares on the bourses. Nifty extends gains; power, metal, cap goods, auto shine At 12.07 hrs IST, the NSE Nifty was trading above the 5,000 level with positive bias. The markets opened on a buoyant note on the back both the Reliance camps calling for ceasefire on Sunday. After hovering around 5,000 zone for quite sometime, Nifty finally broke out decisively above the important psychological mark. Heavy buying was seen in oil & gas, power, metal, capital goods, auto, consumer durables and realty stocks. All BSE sectoral indices were trading in green. The broader markets too witnessed smart rally in today’s trade. BSE Smallcap index was up 2.2%. The Sensex was up 269.72 points or 1.64% at 16715.33, and the Nifty up 83.95 points or 1.70% at 5015.10. About 2164 shares advanced while 713 shares declined on the BSE. Nearly 418 shares were unchanged. In the largecap space, Reliance Power and Reliance Infra were up more than 10%. Reliance Comm, Reliance Capital and Jaiprakash Associates were up 4-8%. HDFC, Sun Pharma, Power Grid Corp, ABB and Cipla were trading in red. Index heavyweight Reliance was trading at Rs 1,033.15 up 3.76% from its previous close of Rs 995.75. Tech major Infosys was trading at Rs 2,618.40 up 1.25% from its previous close of Rs 2,586.15. Refinery major HPCL was trading at Rs 348.25 up 0.29% from its previous close of Rs 347.25. Hindustan Lever was trading at Rs 231.90 up 0.61% from its previous close of Rs 230.50. Cigarette major ITC was trading at Rs 271.85 up 0.13% from its previous close of Rs 271.50. Top percentage gainers - Reliance Natural Resources shot up 23.15%. Aekta, Nirav Commercial, Metrochem, Shree Ajit Pulp, Tips Industries, Reliance Industrial Infrastructure, Insecticides and Bang Overseas were up 13-17%. In the midcap space, Jai Corp, Nirma, Gujarat NRE Coke, REI Six Ten and OnMobile Global went up 6-7.7%. However, Anant Raj Industries, DB Corp, Bombay Rayon, Trent and Piramal Health lost 1.6-2.6%. In the smallcap space, Lloyds Metals, OM Metals Infra, Venkys and TRF gained 8-11.5% while Suashish Diamond fell 10.8%. CMI FPE, Kanani Industries, Subhkam Capital and Intra Infotech declined 4.5-6.7%. Sensex up over 200 pts; Reliance group cos' shares gain At 10:51 hours IST - the benchmark Sensex was trading 200 points higher on back of buying in Reliance group companies' shares as well as banking, auto, realty, metal, cement and capital goods companies' shares. Asian markets were also quite supportive. Shanghai rose 3%. Hang Seng, Jakarta, Straits Times, Kospi and Taiwan were up 0.5-1.5%. The Sensex was trading at 16,665, up 220 points and the Nifty was at 5000, up 69 points. Top gainers - Reliance Infrastructure was trading at Rs 1,051.35, up 6.36%; Reliance Communication was at Rs 141, up 5.70%; Reliance Industries was at Rs 1,030.25, up 3.46%; Tata Motors was at Rs 731.50, up 2.98%; Sterlite Industries was at Rs 659.10, up 2.70%; Reliance Power was at Rs 151.45, up 9.15% and Reliance Capital was at Rs 679, up 5.74%. However, HDFC, TCS, Tata Power, Sun Pharma, Cipla and ABB were the only losers. The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 1.6% and Smallcap up 2%. The market breadth was strong; about 2085 shares advanced while 784 shares declined. Nearly 426 shares were unchanged. Adani Enterprises, Piramal Health, Reliance Industries, Reliance Natural Resources, Bank Of Rajasthan, Tata Motors and ICICI Bank were the most active shares on the bourses. In the midcap space, Jai Corp, Gammon Infra, Gujarat NRE Coke, Nirma and Andrew Yule were up 6-8.5% while Bombay Rayon, P&G, Karnataka Bank, Motherson Sumi and Bajaj Finserv fell 0.8-1.4%. In the smallcap space, Reliance Industrial Infra shot up 13.6%. ARSS Infra, OM Metals Infra, Assam Company and Forbes Gokak gained 7.6-8.5%. However, CMI FPE, Suashish Diamon, Kanani Industries, Subhkam Capital and Maharashtra Scooters declined 4.5-8.5%. Nifty hits 5K on Ambani brothers patch-up news The benchmark Nifty started the day on a strong note and hit the 5000 mark on Ambani brothers patch-up news. Both brothers ended non-compete agreement. Short covering was another reason behind this surge. Global cues remained positive. Mukesh & Anil Ambani agreed to cancel all non-compete agreements. Heavyweight Reliance Industries surged 5%. Anil Dhirbhai Ambani Group - Reliance Power went up 11.5%. Reliance Power, Reliance Capital, Reliance Infrastructure and Reliance Communications were up 5-7%. RNRL rose 30%. At 9:02 hours IST, the Nifty was trading at 5001, up 70.55 points and the Sensex was at 16680, up 234 points.  The CNX Midcap rose 118 points to 7700 and BSE Smallcap went up 119 points to 8534. About 667 shares advanced while 79 shares declined on the NSE.    Among other frontliners, Tata Motors, Tata Steel, Jaiprakash Associates, Unitech and Sterlite Industries gained. ICICI Bank rose 1.8% and Bank of Rajasthan was up 9%. Both banks' boards approved merger and fixed swap ratio of 1:4.72. However, Sun Pharma, Bharti and HUL were down. Midcap & Smallcap space: Godrej Consumer shot up 10%. The company bought Hair dye company in LatAM. Gujarat NRE Coke was up 5.4% and Aban Offshore up 3.55%. Bajaj Hindusthan and Balrampur Chini were up 2.4% each. However, Adani Enterprises fell 7%. Global cues: Asian markets were trading higher. Shanghai shot up 3%. Straits Times, Taiwan Weighted, Jakarta and Hang Seng were up 0.7-1.7%. Kospi rose 0.3% while Nikkei fell 0.3%. The US markets recovered from day's low to end at highest point of day's trading range. Germany approved European Union's USD 1 trillion rescue package. The Dow Jones Industrial Average ended up 125 points or 1.25% at 10193 on Friday, after seeing recovery of 276 points from day's low of 9918. The Nasdaq Composite rose 25 points or 1.1% at 2229, after seeing recovery of 64 points from day's low of 2165. The S&P 500 Index went up 16 points or 1.5% at 1088, after seeing recovery of 32 points from day's low of 1056. Market cues: Signs of Ambani brothers patch-up Ambani brothers end non-compete agreement FIIs were net sellers of USD 152 million in equities on May 20 NSE F&O Open Int was up Rs 3292 crore at Rs 1.45 lakh crore As per provisional data of May 21, FIIs were net sellers of Rs 1540 crore, DIIs were net buyers of Rs 817 crore in cash markets. FIIs were net buyers of Rs 105 crore in F&O. F&O cues: -Futures Open Int up Rs 1557 crore -Options Open Int up Rs 1735 crore -Nifty May Futures add 11 lakh shares in Open Int -Nifty May Futures at 3-point discount -Nifty June Futures add 13 lakh shares in Open Int -Nifty June Futures at 6-point discount -Nifty Open Int PCR at 1.02 versus 1.03 -Nifty Puts add 17 lakh shares in Open Int -Nifty Calls add 21 lakh shares in Open Int -Nifty May 4800 Put adds 11 lakh shares in Open Int -Nifty May 4900 Put sheds 11 lakh shares in Open Int -Nifty May 4800 Call adds 10 lakh shares in Open Int -Stock Futures add 2.7 crore shares in Open Int