At 10.36 hrs IST, the benchmark index Nifty was trading volatile around 5450 mark. The markets were trying to stabilise around 5450 mark after severe selloff of 100 points on last Friday.
Auto, realty and banking stocks witnessed selling pressure in trade today. Marginal buying was seen in capital goods stocks. BSE Midcap and Smallcap indices trimmed losses after jittery start in the opening bell.
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Indian ADRs
The Sensex was down 1.95 points or 0.01% at 18209.57, and the Nifty was up 2.30 points or 0.04% at 5461.25. About 921 shares advanced, 1263 shares declined, and 1142 shares remain unchanged.
Top gainers on the Sensex: Wipro, Sterlite Industries, Jindal Steel, Larsen and BHEL were up 1.5-2.8%.
Top losers on the Sensex: Hero Honda, Tata Motors, DLF, Tata Power and NTPC were down 1.5-2.3%.
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In the midcap space, ARSS Infra, Nat Fert, IRB Infra, Shriram City and Gujarat Pipavav were up 4-5%. EIH, OnMobile Global, Jai Corp, Coromandel International and Prakash Industries were down 5-16%.
In the smallcap space, Hinduja Foundri, Graviss Hosp, Hindustan Media, EIH Assoc Hotel and Sahara One were up 7-11%. JK Cement, Shirpur Gold, Parekh Aluminex, Shree Nath Comm and India Securities were down 5-6%.
Technical Outlook
Anil Manghnani, Modern Shares & Stock Brokers says, the correction, which took place on Friday, was due. “After a 400-point rally, there was no surprise that we got a correction,” he adds.
According to him, if the Nifty holds 5,438, maybe just for a quick trade, 50-60 points bounce is possible.
However, he feels, 5,338 should reach sometime this week.
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F&O Outlook
In the F&O space, Nifty Feb futures added 4.4% in Open Interest. It was trading with discount of 7 points. Nifty 5500 Call was the most active call with addition of 8 lakh shares in Open Interest. Nifty 5500 Put was the most active put with addition of 3 lakh shares in Open Interest. The most active stock futures were Reliance Industries, State Bank of India, Tata Motors, Tata Steel and ICICI Bank.
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