Mkts trade lower; realty, oil, telecom, banks stks down

Mumbai: Markets are trading lower, mirroring weak sentiments globally. Selling pressure is seen in realty, oil, metal, banking, telecom, power and capital goods stocks. However, technology and select auto stocks are on buyer’s radar.

The Sensex is hovering in a range at lower levels, fell 93 points at 14,357 and

Nifty down 33 points at 4,302, at 11:05 am. BSE Midcap and Small cap indices declined 0.4% each.Top losers are Reliance Industries, Jaiprakash Associates, ICICI Bank, Suzlon Energy and Zee Entertainment while gainers are Satyam, Infosys, Wipro and HCL Tech.

Market breadth is weak; about 1131 shares have advanced while 1711 shares declined. Nearly 325 shares are unchanged.BSE Realty Index fell 2.4%, Oil & Gas down nearly 2% and Metal -1.25%. Power, Bankex and Capital Goods lost over 0.80% each.

However, IT Index jumped 1.5% as Indian Rupee is trading around 44 a dollar.On the global front, Asian markets are under pressure. Shanghai, Hang Seng, Jakarta, Nikkei, Straits Times and Taiwan Weighted dropped 1-3%.

Markets @ 9:56 am : Markets decline on weak global cues

Markets have declined in early trade following weak global cues as credit worries renewed in US financial space. Selling is seen in auto, real estate, banks and capital goods stocks. However, technology stocks are witnessing buying interest tracking depreciating rupee, which hit 44 a dollar.At 9:56 am, the Sensex fell 104 points at 14,346 and Nifty down 38 points at 4,296. CNX Midcap lost 0.52% at 5,638.Amongst frontliners, ICICI Bank, DLF, L&T, BHEL, Unitech, NTPC, Bharti Airtel, HDFC, Reliance Communication, Suzlon Energy, Tata Motors and Maruti Suzuki have lost ground.

However, technology stocks like TCS, Satyam, Wipro and HCL Tech are trading higher and shrugged off weak global cues. Rupee has hit 44 a dollar and currently trading above that mark.Stocks in news Infosys Technologies went down 0.5% after the news that the company will buy UK based Axon for USD 753.1 million (Rs 3300 crore).Sasken Communication rose over 2.3%.

The company has moved SAT against SEBI restrictions on its buyback offer. Sasken proposed buyback at a price not exceeding Rs 260/sh.Ray Ban went up nearly 3% as its parent company has accepted de-listing price of Rs 140.Bosch (erstwhile MICO) board will consider buyback of equity shares on September 2.

Last buyback offer was at Rs 4600 per share.Asian markets are trading lower. Shanghai, Hang Seng, Jakarta, Nikkei, Straits Times and Taiwan Weighted dropped 1-2%.Crude oil is trading above USD 115 per barrel on the NYMEX. US markets declined, led by financials, as investors waited for some resolution on problems faced by Fannie Mae, Freddie Mac and Lehman Brothers following rampant speculation last week.

The Dow Jones slipped 241.81 points, or 2.08%, to 11,386.25. The S&P 500 index lost 25.36 points, or 1.96%, to 1,266.84, and the Nasdaq composite index declined 49.12 points, or 2.03%, to 2,365.59.

Market cues:

· FIIs net sell $28.2 mn in equity on Aug 22

· MFs net buy Rs 181 cr in equity on Aug 22

· NSE F&O Open Int up by Rs 619 crore at Rs 82,265 crore

F&O cues:

· Marketwide rollover at 31% Vs 29% on D-3 last expiry

· Nifty rollover at 28% Vs 35% on D-3 last expiry

· Futures Open Int up Rs 76 cr, Options Open Int up Rs 542 cr

· Nifty Futures shed 23 thousand shares in

Open Int, prem at 2 pts Vs disc at 3 pts a day ago

· Stock Futures net add 71 lakh shares in Open Int

· Nifty Open Int Put-Call ratio at 1.07 Vs 1.02

· Nifty Puts add 15.1 lakh; Calls shed 4.2 lakh shares in Open Int

· Straddle writing seen at 4400 as 4400 put prem at 197 and 4400 call prem at 130

· Nifty Sep 4400 Put add 5 lakh shares in Open Int (Contract at 19,200)

· Nifty Sep 4400 Call add 1.5 lakh shares in Open Int (Contacts at 12,000)

· Nifty Sep 4300 Put add 3.8 lakh shares in Open Int (Contacts at 21,000)

· Nifty Sep 4200 Put add 2.8 lakh shares in Open Int (Contracts at 9,663)

Nifty Aug 4300 Call shed 3.3 lakh shares in Open Int