Mkt trades in red on selling pressure; IT, banks down

The markets have slipped into red in early trade on account of selling pressure seen in the IT and banking stocks. IT stocks are under pressure due to ongoing appreciation in the rupee. Banking stocks are down on the speculation that RBI may hike CRR in near future.

At 10.50 am, the Sensex is down 121.18 points or 0.70% at 17169.92, and the Nifty down 12.75 points or 0.25% at 5008.60. About 1601 shares have advanced, 1339 shares declined, and 93 shares are unchanged.

Market breadth is very thin with 588 stocks on the advancing side and 581 stocks on the down side. Rupee was quoting at 39.75 against a US dollar. Nifty Oct future was trading with premium of 11.3 points at 5017.

Top gainers on the Sensex are Reliance Energy at Rs 1,284.90 up 6.59%, NTPC at Rs 201.50 up 4.16% and Ambuja Cements at Rs 145.40 up 1.11%.

Top losers on the Sensex are HDFC at Rs 2,479.55 down 1.89%, ICICI Bank at Rs 1,044.95 down 1.71% and TCS at Rs 1,039.85 down 1.6%.

Most active shares on BSE are Reliance Energy at Rs 1,279.30 with 886,866 shares, Rel Capital at Rs 1,644 with 258,372 shares and Reliance Natural at Rs 91.65 with 4,449,719 shares.

BSE bankex was down 1.34% at 9342.7. Major losers in this spcae were HDFC at 2455.90 down 2.82%, ICICI Bank at 1041.92 down 2% and HDFC Bank at 1413.45 down 1.81%.

IT stocks were under pressure and the index was trading with a deep cut of 1.76% at 4546.45. Major losers were TCS at 1035.8 down 2.06% and Infosys at 1900 down 1.57%. Rupee was quoting at 39.75 against a US dollar today. It has appreciated by over 15% in last one year.

Mkts flat in early trade; metal, power stocks up

The markets have opened in green with modest gains. Broad based buying was witnessed in the early trade today on the back of good cues from the Asian peers.

At 9:56 am, Sensesx was up 61 points at 17352 and Nifty was up 16 points at 5038. Major gainers in the early trade were Tata Steel, Rel Energy, Rel Petroleum, Tata Motors, Bharti Airtel, M&M, Cipla, ABB, HUL, BHEL and ACC.

Asian markets were trading higher. Japan's Nikkei gained 0.39% or 65.66 points at 16,851.35, Taiwan's Taiwan Weighted rose 0.53% or 49.98 points at 9,526.50, Singapore's Straits Times surged 1.39% or 51.45 points at 3,757.68 and South Korea's Seoul Composite advanced 1.05% or 20.51 points at 1,966.99.

Market cues:

* FIIs net buy USD 596.1 mn in equity in Sep 27
* MFs net buy Rs 92.7 crore in equity on Sep 27
* NSE F&O Open Int up Rs 5,845 crore at Rs 73,458 crore

F&O cues:

* Open Interest up by Rs 5,845 crore (Rs 58.45 billion) at Rs 73,458 crore (Rs 734.58 billion)
* Futures Open Interest up by Rs 3,257 crore (Rs 32.57 billion), Options Open Interest up by Rs 2,588 crore (Rs 25.88 billion)
* Nifty Futures add 4.4 lakh shares in Open Interest
* Nifty Open Int Put-Call ratio at 1.19 vs 1.13
* Nifty Puts add 23 lakh shares in Open Interest
* Nifty Calls add 13.8 lakh shares in Open Interest
* Nifty 5000 Put adds 8.7 lakh shares in Open Interest
* Nifty 4900 Put adds 3 lakh shares in Open Interest
* Nifty 5000 Call adds 4.2 lakh shares in Open Interest
* Nifty 5100 Call adds 4 lakh shares in Open Interest