Markets trading weak: Nifty hovering around 5120

New Delhi: The markets opened with marginal gain but gave up its gain within a minute, and now its is trading weak. Nifty is hovering around 5120. Power, Oil & Gas and banking indices are witnessing selling pressure. However, buying was seen in IT, Teck and metal space.

At 09:56 hrs (IST), the Sensex is down 68 points at 17305, and the Nifty down 16 points at 5128.25.

Relaince Petroleum, ACC, PNB, JP Associate, HDFC Bank among major losers.

Satyam, Infosys, Wipro, TCS and HCL Technologies among major gainers.

Asian markets

Asian markets were trading mixed. China's Shanghai Composite rose 0.61 per cent or 22.65 points at 3,756.159. Japan's Nikkei advanced 0.93 per cent or 130.23 points at 14,179.49.

Taiwan's Taiwan Weighted gained 1.07 per cent or 94.66 points at 8,952.03. However, Hong Kong's Hang Seng was down 0.24 per cent or 62.46 points at 26,199.67. Singapore's Straits Times fell 0.04 per cent or 1.33 points at 3,247.42. South Korea's Seoul Composite declined 0.06 per cent or 1.19 points at 1,857.87.

US markets

US markets rose to a four-month high. Financial and energy shares sparked the positive moves on the US indices. Fannie Mae climbed 8.9 per cent after dropping as much as 7.3 per cent as the government loosed restrictions on the company. The Dow Jones industrial average added 51.29 points, or 0.40 per cent, to 13,020.83.

Market cues:

• FIIs net sell $76 mn in equity on May 5.
• MFs net buy Rs 141.3 cr in equity on May 5.
• NSE F&O Open Int up by Rs 939 crore at Rs 68645 crore.

F&O cues:

• Futures Open Int up by Rs 391 crore, Options Open Int up by Rs 547 crore.
• Nifty Futures add 6.7 lakh shares in Open Int.
• Nifty Open Int Put-Call ratio at 1.41.
• Nifty Puts add 3.5 lakh, Calls add 2.3 lakh shares in Open Int.
• Nifty 5000 Put adds 1.8 lakh shares in Open Int.
• Nifty 5200 Put adds 1.5 lakh shares in Open Int.
• Nifty 4800 Put sheds 2.4 lakh shares in Open Int.
• Nifty 5200 Call adds 1.7 lakh shares in Open Int.
• Stock Futures add 71 lakh shares in Open Int.

(With moneycontrol.com inputs)