The Indian markets opened on a subdued note awaiting results of India's largest public sector bank SBI. The limelight was hogged by MSCI India addition stocks in early trade.
At 09.20 hrs IST, the Sensex was up 39.15 points or 0.21% at 18384.18, and the Nifty was up 5.80 points or 0.11% at 5504.80. About 530 shares advanced, 191 shares declined, and 2920 shares remain unchanged.
Buying was seen in capital goods, FMCG, IT and consumer durables stocks. The broader markets too were trading with nominal gains.
Titan Ind, Shriram Transport, Mundra Port, Dabur, Bank of India and Asian paints have been included in MSCI India Index. The stocks have rallied in the range of 2-11%.
Top gainers on the Sensex: TCS, Sterlite Industries, Larsen, Bajaj Auto and Cipla were up 0.-1.1%.
Top losers on the Sensex: ONGC, Hero Honda, NTPC, Wipro and Maruti Suzuki were down 0.5-3.5%.
Government increased upstream subsidy share to 38.5% of total subsidy burden for FY11. Now upstream companies like ONGC will have to bear Rs 30,000 crore in FY11, reports CNBC-TV18, quoting Sources.
According to CNBC-TV18's estimates, SBI's January-March quarter net interest income (NII) is seen at Rs 9176 crore, a growth of 37% as against Rs 6721 crore, same quarter previous year. Its Q4 PAT is seen up 59% at Rs 2963 crore versus Rs 1866 crore, YoY.
Midcap gainers: Kalpataru Power, State Bank of Mysore, CMC, KSK Energy and Berger Paints were up 2.5-6.5%.
Midcap losers: Page Industries, SKS Microfinance, Greaves Cotton, Godrej Proper and Bharat Forge were down 1.4-2.6%.
Smallcap gainers: Unisys Soft, Prime Securities, Ashapura Mine, Nirlon and Money Matters were up 4-6%.
Smallcap losers: Empee Sugars, R M Mohite Inds, Apar Ind, Halonix and Consolidated Co were down 4-10%.
Stocks to watch
Gammon Infrastructure Projects Ltd after it said it would consider issue of preference shares to Gammon India on May 19.
Software services firm CMC Ltd after it won an order from the Life Insurance Corporation of India.
Shalimar Paints after the Financial Express cited sources as saying the paints maker was up for sale and Kansai Nerolac and Sherwin-Williams were in the race to buy it. The company's chief operating officer, Sandeep Sarda, told the newspaper it does not comment on market speculation.
The US markets slid as technology stocks unraveled, and investors worried about the euro zone debt crisis and its impact on the economic recovery. Asian markets also trading in red.
Market cues:
Results Today: SBI, Bajaj Finserv, HT Media, Opto Circuits, Prestige Estates, Petron Eng
FIIs net sell USD 825 million in the cash market on May 13
MFs net buy Rs 14.80 cr in cash market on May 13
NSE F&O Open Int was up by Rs 4393 cr at Rs 1.42 lakh cr
MSCI India additions: Titan Ind, Shriram transport, Mundra port, Dabur, Bank of India, Asian paints
F&O cues:
Total Futures Open Int up Rs 1008 cr and Total Options Open Int up Rs 3385 cr
Total Stock Futures OI add 1.63 cr shares in OI
Nifty Futures OI add 12.11 lakh shares in OI
Nifty discount at 10.3 pts Vs premium at 14.15 pts
Nifty Open Int PCR at 0.96 Vs 1.05
Total Put sheds 4.61 lakh shares in OI
Total Call adds 58.55 lakh shares in OI
Highest OI Outstanding At 5400 Put, 5800 Call and 5600 Call
Nifty 5500 Call adds 29.10 lakh shares in OI
Nifty 5600 Call adds 16.61 lakh shares in OI
Nifty 5400 Call adds 7.35 lakh shares in OI
Nifty 5700 Call adds 3.5 lakh shares in OI
Nifty 5400 Put adds 3.12 lakh shares in OI
Nifty 5600 Put sheds 9.05 lakh shares in OI
Nifty 5200 Put sheds 2.3 lakh shares in OI
Nifty 6000 Call sheds 2.22 lakh shares in OI
Nifty 5800 Put sheds 1.06 lakh shares in OI
Nifty 5500 Put sheds 1.06 lakh shares in OI
India VIX up 4.02 % at 21.46
Deccan Chronicle, PFC and Orchid Chem in F&O ban
(With inputs from Reuters)
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