Equity Alert: Nifty Sep at 2-point discount; open interest up 9%
MUMBAI--1:55PM--Nifty September futures contract was at 2-point
discount
to the spot and open interest in the contract rose 9% to 30.2 mln as
traders
built short positions on sharp fall in overseas markets.
--Nifty was at 4032.95, down 195.50 points, or 4.6%
--Nifty September was at 4030.55, down 215.20 points, or 5.1%
Technical analysts see intraday support for Nifty around
3970-3980.
Shares of real estate companies were seeing a sell-off, while
traders
covered some short positions in Reliance Industries, a derivatives
analyst
said.
September contracts of Reliance Industries, Reliance Capital,
State Bank
of India and ICICI Bank were most actively traded. (Deepika D.
Thapliyal)
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NW18 Equity Alert: Shr indices dn 4% but off lows; Nifty back over
4000
MUMBAI--1:42PM--Key share indices were down over 4%, but off lows
touched
earlier in the session on buying in selective stocks at lower levels,
dealers
said.
Market had earlier slid 6% as key European markets opened around
3% lower.
Sensex was at 13420.18, down 580.63 points, or 4.2%. Nifty climbed
back
above the 4000-mark and was at 4037.35, down 191.10 points, or 4.5%.
"There are been some buying in bank shares, even in steel shares
like
SAIL (Steel Authority of India) by domestic funds," said an
institutional
dealer.
He sees resistance for Nifty around 4050-4060.
Maruti Suzuki, up 0.1%, was the sole gainer on Nifty.
CNX Mid-cap and S&P CNX 500 indices were down around 5% each.
Real estate shares remained major laggards, with Unitech, down
10%, the
worst hit on Nifty.
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