Mkt sees red; Sensex down 16 points

Mumabi: The benchmark indices have opened flat and immediately started trading choppy. Sterlite, Unitech, HCL Technologies, ACC, L&T, Jaiprakash Associates, Siemens, Hindalco, Reliance Communications, Ranbaxy Labs, SBI, Sun Pharma, HDFC Bank, ITC and BHEL are gainers in early trade.

However, losers are Maruti, DLF, ICICI Bank, M&M, Infosys, Tata Motors, NTPC, Wipro and HDFC.

At 9:56 am, the Sensex went down 16 points at 9,307 and the Nifty lost 5.75 points at 2,822. However, CNX Midcap gained 21 points at 3,527.

Zenotech Labs plunged over 11%. Daiichi Sankyo has made open offer to the company's shareholders at Rs 113.62 per share.

Jaiprakash Associates went up 5% after its Q3 FY09 numbers. Its net sales was up Rs 1380.63 crore versus Rs 942.88 crore and net profit jumped to Rs 165.51 crore versus Rs 155.8 crore.

Gujarat NRE Coke lost over 5%, as its Q3 results were below expectation and its margins also dropped.

Asian markets are trading higher. Shanghai went up 2.3% and Kospi gained 1%. Straits Times gained 0.5%. Hang Seng, Nikkei and Taiwan are flat.

US markets ended marginally in the green. There were reports of treasury receiving second part of TARP funds. The markets shrugged off worst than expected results from Citi and Bank of America.

Dow Jones ended up 0.8% or 69 points at 8281 and was down 3.7% for the week. Nasdaq ended up 1.1% or 17.5 points at 1530 and was down 2.7% for the week. S&P 500 ended up 0.7% or 6.5 points at 850 and was down 4.5% for the week.

Market cues:

FIIs net sell USD 118.7 million in equity on January 15

MFs net sell Rs 237.5 crore in equity on January 15

NSE F&O Open Int up by Rs 2,627 crore to Rs 50,234 crore

F&O cues:

Nifty ends up 3.3%, Jan Nifty Fut OI up by 4 lakh shares (-1.2%)

Total Fut up Rs 1,070 cr in Open Int, total Options add Rs 1,556 cr in Open Int

Nifty Fut discount at 15 pts from 25-pts discount

Nifty Open Int PCR up to 0.93 from 0.89

Nifty Calls add 19.6 lakh shares in Open Int, Puts add 32.4 lakh shares in Open Int

Nifty 2700 Put adds 16.2 lakh shares in Open Int (+50%)

Nifty 2900 Call adds 9.2 lakh shares in Open Int (+25%)

Nifty 2800 Put adds 6 lakh shares in Open Int (+18%)

Nifty 2800 Call adds 5.5 lakh shares in Open Int (+17%)