Mumbai: The benchmark indices have opened sharply lower following weak Asian cues. A decline of 2% in SGX Nifty suggested a weak opening. Shares of oil exploration, telecom, banking, realty, capital goods, and metal stocks are trading under pressure.
The Sensex went down 202 points to 9,127 and the Nifty lost 60 points to 2,786, at 9:56 hours IST. CNX Midcap tumbled 1% to 3,497.
DLF, Unitech, Zee Entertainment, Reliance Capital, Ambuja Cements, HCL Tech, Suzlon, Tata Steel, Nalco, Reliance Communications, HDFC, Bharti, SBI, L&T, Infosys, BHEL and Reliance Industries are driving the markets downwards.
BSE Bankex, Realty, Oil & Gas, Capital Goods, Metal and TECk indices fell over 2% each.
Satyam slumped 7% in early trade and given up most of yesterday's gains.
Triveni Engineering, ITC, Ultratech Cement and Apollo Tyres lost ground, after its numbers for the quarter ended December 2008.
Asian markets are trading sharply lower post RBS news (RBS has posted $41 billion loss in 2008 and UK government increased its stake in RBS to nearly 70% from 58% yesterday). Hang Seng, Shanghai, Nikkei, Straits Times, Kospi, Taiwan and Jakarta tumbled 1.4-3.2%.
NYMEX February crude declined below $35 a barrel ahead of expiry today and is trading near 2000 contracts. NYMEX March crude holds above $40/bbl and is trading more than 20,000 contracts.
US markets were closed on Monday on account of Martin Luther King Junior Day.
Market cues:
Obama swearing in ceremony as the 44th US President tonight
FIIs net sell USD 139.6 million in equity on January 16
MFs net buy Rs 285 crore in equity on January 16
NSE F&O Open Int up by Rs 1,072 crore at Rs 51,306 crore
F&O cues:
Futures Open Int up by Rs 739 cr, Options Open Int up by Rs 333 crore.
Stock futures add 3 cr shares in Open Int ((Almost 2 cr from Unitech and Suzlon))
Nifty futures turnover at Rs 7,000 cr vs recent average of Rs 10,000 cr
Nifty Jan futures shed 5 lakh, Feb futures add 14 lakh shares in Open Int
Nifty Jan at 13-point discount, Feb at 10-point discount
Nifty Open Int PCR at 0.91 versus 0.93
Nifty Puts shed 1.5 lakh, Calls add 7.6 lakh shares in Open Int
Nifty 2800 Put, 3000 Call add 2 lakh shares each in Open Int
Nifty 2600 Put sheds 4 lakh shares in Open Int
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