Mkts trading higher; FMCG, banks stocks up

Mumbai: Markets have regained its momentum and trading higher with support from FMCG, banking, pharma, technology, capital goods and auto stocks. However, midcap and small cap stocks are taking beating on the bourses. On the global front, Asian markets are trading strong.

Market breadth is negative; about 1373 shares have advanced while 1528 shares declined. Nearly 249 shares are unchanged.

At 10:32 am, the Sensex was up 164 points at 13,799 and Nifty up 40 points at 4,132.

Markets @ 9:56 am: Markets choppy; Nifty around 4100

Markets have opened higher following positive cues from Asian markets but given up gains and trading flat with some choppiness. Political worries are playing big role as there will be vote of confidence in parliament tomorrow, which will decide UPA's continuation as a government.

At 9:56 am, the Sensex was up 138 points at 13,774 and Nifty up 38 points at 4,130. CNX Midcap was up 32 points at 5,181.

Amongst frontliners, L&T, ICICI Bank, Bharti Airtel, Reliance Comm, HDFC, Tata Motors, NTPC, JP Associates and Cipla have gained while DLF, Maruti, Satyam, Cairn, HCL Tech, Hindalco and Ranbaxy Labs lost ground.

Asian markets were trading strong. Hang Seng, Kospi, Straits Times and Taiwan Weighted fell over 2.5-3%. Jakarta Composite was up 1.7%.

Market cues:

• Parliament convenes for trust vote today
• Network 18 Projection: 267 in favour of UPA and 269 in favour of opposition; 5 undecided
• FIIs net buy $ 132.8 mn in equity on Jul 17
• MFs net buy Rs 11.1 cr in equity on Jul 17
• NSE F&O Open Int up by Rs 2,579 cr at Rs 72, 442 cr

F&O cues:

• Nifty up 3.5%; Nifty Futures Open Int up 0.07%
• Futures Open Int up by Rs 1305 cr, Options Open Int up by Rs 1275 cr
• Nifty Futures add 24,600 shares in Open Int, at 14-pt discount
• Stock Futures shed 50 lakh shares in Open Int
• Large cap stocks like RIL, ICICI Bank, Unitech, SAIL, Bharti, ONGC see huge short covering
• Nifty Open Int Put-Call ratio at 1.24 Vs 1.08
• Nifty Puts add 39.8 lakh; Calls shed 10.5 lakh shares in Open Int
• Nifty 3900 Puts add 12.5 lakh shares in Open Int
• Nifty 3600 Puts add 5.7 lakh shares in Open Int
• Nifty 4000 Puts add 5.7 lakh shares in Open Int
• Nifty 4100 Calls shed 3.8 lakh shares in Open Int
• Nifty 4200 Calls shed 3.7 lakh shares in Open Int