Markets weak, Nifty slips below 5000 mark

Mumbai: The markets have rebounded and started trading with smart gains as it taken the inflation numbers positively.

Inflation numbers cooled off a bit at 7.82 per cent for the week ended May 10 as compared to 7.83 per cent in earlier week. Buying continued in telecom, pharma, technology, FMCG and some oil and gas and banking stocks. However, metal and auto stocks are still under selling pressure.

At 1234 hrs, IST the Sensex was up 61 points at 16,968 and the Nifty was up 5 points at 5,030. Market breadth remained in the favour of advances as 710 shares advanced while 481 shares declined.

Bharti Airtel, HDFC, HDFC Bank, BPCL and Idea Cellular were major gainers while Tata Motors, Hindalco, Maruti, Sterlite, Tata Power and Cairn India losers.

Amongst telecom space, Idea Cellular, Bharti Airtel, Reliance Comm, Spice Comm, and Tata Communications.

Technology stocks like Satyam, Infosys, Wipro, HCL Tech, TCS and Tech Mahindra have gained.

Metal Index lost over 1% due to selling in Sterlite, Hind Zinc, JSW Steel, Hindalco, Tata Steel and SAIL.

Auto Index went down 0.5 a percent as Tata Motors, Maruti, M&M , Tube Investment and MRF lost ground.

Active shares on the bourses were Ispat Industries, Rel Capital ,Cairn and Idea.

Market cues:

· NSE F&O Open Interest down by Rs 470 cr at Rs 81,318 cr

F&O cues:

· Nifty rollover at 27.5% Vs 22% prev day

· Futures Open Interest down by Rs 763 cr and Options Open Interest up by Rs 293 cr

· Nifty Futures Open Int down by Rs 84 cr out of total futures shedding of Rs 470 cr

· Momentum stocks see major unwinding

· Nifty May Futures trading at 8 points discount Vs 9 points premium

· Nifty May Futures sheds 13.98 lakh shares

· Nifty June Futures adds around 19.85 lakh shares

· Nifty Open Interest Put-Call ratio at 1.34 Vs 1.44

· Nifty Puts shed 9.16 lakh shares in Open Interest

· Nifty Calls add 11.2 lakh shares in Open Interest

· Nifty 5000 May Call adds 3.34 lakh shares in Open Interest

· Nifty 5200 May Call adds 1.8 lakh shares in Open Interest

· Nifty 5200 June Call adds 2.23 lakh shares in Open Interest

· Nifty 5000 Dec Call adds 1.23 lakh shares in Open Interest

· Nifty May 5000 Put sheds 6.17 lakh shares in Open Interest

· Nifty May 5100 Put sheds 2.97 lakh shares in Open Interest

· Nifty May 4800 Put sheds 2.18 lakh shares in Open Interest

· Nifty May 5200 Put sheds 1.41 lakh shares in Open Interest

· Nifty June 4500 Put adds 1.9 lakh shares in Open Interest

· Nifty June 5000 Put adds 1.64 lakh shares in Open Interest

· Total stock Futures add 11.4 lakh shares in Open Interest

· June & July stock Futures OI up by 5.27 cr shares

· May stock Futures down by 5.16 cr shares