Markets trade in red: Metal, energy, realty down

The markets opened weak despite some positive expectations after the Fed rate cut yesterday. After opening marginally in green the Sensex and Nifty slipped in red. The cues have been mixed as Dow ended quiet and Asia is trading mixed. Wall Street ended lower; Dow slipped 37 points. NSE Advance:Decline was at 1:3. CNX Midcap index is down 1.5% and smallcap index is down 1%.

At 10:00 am, the Sensex was down 140 points at 17,616 and Nifty was down 44 points at 5122.

Tata Motors, Suzlon, M&M, Zee Ent, SAIL, Cairn, SBI, BPCL are among the major gainers on the indices.

Reliance, NTPC, ITC, Tata Steel, L&T, Cipla, TCS, Wipro, Satyam, Hindalco, RPL are among the top laggards.

The midcap and smallcap space has also opened quiet. Select bank stocks are looking better than the rest.

Asian markets have stabilised after an initial dip. Fed has cut the fed funds rate by 50 bps to 3% and discount rate by 50 bps to 3.50%.

The indices are trading mixed. Japan's Nikkei was up 1.5%, South Korea's Seoul Composite rose 0.97%. However, Hong Kong's Hang Seng is down over 200 points, Taiwan's Taiwan Weighted is marginally in red and Singapore's Straits Times is trading flat.

The Indian Rupee opened at Rs 39.39-39.40 per dollar versus Rs 39.38 yesterday.

Market cues:

NSE F&O Jan series expiry today; rollovers very low
Rel Power refund money to start coming in from tomorrow
SEBI says short selling by FIIs to begin shortly
SEBI says major progress in FII, sub-account registrations since Oct
FIIs net sell USD 70.7 mn in equity on Jan 29
FIIs have net sold USD 3.28 bn in Jan so far
MFs net sell Rs 116.8 cr in equity on Jan 29
NSE F&O Open Interest up vy Rs 1,322 cr at Rs 91,409 crore

F&O cues:

Stock Futures shed another 3 cr shares in Open Interest
Futures Open Interest up by Rs 151 crore
Options Open Interest up by Rs 1171 crore
Nifty Jan Futures shed 32 lakh shares in Open Interest
Nifty Feb Futures add 82 lakh shares in Open Interest
Nifty Feb Futures at 35-point discount
Nifty Open Interest Put-Call ratio unchanged at 0.91
Nifty Puts add 10 lakh shares in Open Interest
Nifty Calls add 12 lakh shares in Open Interest
Nifty 5200 Put adds 2.6 lakh shares in Open Interest
Nifty 5000 Put adds 2.58 lakh shares in Open Interest
Nifty 5200 Call adds 2.7 lakh shares in Open Interest
Nifty 5400 Call adds 1.95 lakh shares in Open Interest

Source: Moneycontrol