Print this articleEquities were expected to follow other Asian markets, which were down tracking a 6 per cent fall in the US markets, but by the time Indian markets opened, the Asian indices had recovered from their lows after Bank of Japan left interest rates unchanged.
Speculation that the US government will take steps to help Citigroup brought optimism back, say market men. Shares of the US banking major had lost 26 per cent in a single session due to the financial crisis on Thursday.
The board of Citigroup is scheduled to meet later today to look at options, including outright sale of at least part of the bank.
“Possibility that the US government may not allow Citigroup to fail and extend support in form of a merger or bail it out saw traders cover short positions in global markets, and in India. But there was dearth of genuine buying as investor confidence is still low,” said Satish Kannav, senior analyst at Arihant Capital Services.
Bombay Stock Exchange’s Sensex missed the psychological mark of 9,000 and closed at 8,915.21, up 464.20 points or 5.49 per cent from Thursday. It touched an intra-day high of 8988.03 and low of 8442.31.
National Stock Exchange’s Nifty ended above crucial the support of 2600. The broader index closed at 2693.45, up 5.50 per cent or 140.30 points. It touched a high of 2718.60 and low of 2539.80 during the day.
Second rung stocks under performed the benchmarks. BSE Midcap Index ended up 0.72 per cent and BSE Smallcap Index closed up 0.16 per cent.
“October low of 2525 is an important support level and in yesterday’s trade we managed to sustain that level which is good sign. In the short-term, Nifty has formed a double bottom around this level and we may see an upside from here. In addition, gains in the US markets will lead to much awaited relief rally,” Kannav added.
Amongst the sectoral indices, BSE Power Index closed 6.21 per cent up, BSE Oil&Gas Index ended 5.69 per cent higher and BSE Capital Goods Index advanced 5.59 per cent. However, realty stocks continued to be beaten down. BSE Realty Index fell 2 per cent lower.
Reliance Infrastructure (14.07%), Reliance Communications (13.64%), Sterlite Industries (9.10%), NTPC (8.80%) and HDFC (8.49%) were the top gainers, while DLF (-3.41%), Jaiprakash Associates (-2.18%), ACC (-2.08%) and Tata Power (-0.47%) ended with losses.
Market breadth on BSE, however, remained negative with 1,293 declines against 1,177 advances.
European markets followed the Asian trail and were trading higher led by gains in banks and metal shares. FTSE 100 was up 0.51 per cent, DAX 30 was up 0.10 per cent.
US markets are likely to see a strong rally as stock futures suggest. Dow Jones stock futures were up 3.27 per cent, S&P 500 stocks futures gained 3.35 per cent and Nasdaq futures moved 3.39 per cent higher.
Courtesy: economictimes.indiatimes.com
While Singh has lost $ 22.2 billion alone since March, Chandra has seen an erosion of about $ 8.6 billion in his fortune during the same period, when Raheja and Wadhawan have lost about $ 1.5 billion and $ 500 million, respectively.
In the latest list of India's 40 richest people published by Forbes earlier this month, K P Singh was ranked at the eighth spot, while Chandru Raheja and Ramesh Chandra were placed at the 20th and 27th positions, respectively.
Realty stocks have been among the worst hit in the ongoing meltdown at the bourses and a number of them registered losses even today when the overall market benchmark Sensex ended with significant gains.
While the Sensex today surged by 464 points or 5.5 per cent, the BSE Realty index dropped by two per cent. Unitech shares dropped by 9.4 per cent, DLF slipped 3.4 per cent and HDIL shed over four per cent.
"K P Singh's fortune is still a hefty $ 7.8 billion, but that's just a fraction of his previous worth. In March, we pegged his fortune at $ 30 billion.
Shares of DLF, his real estate company, fell steeply over the past year despite Singh's attempts to boost prices through a buyback," the business magazine Forbes said in its report titled 'Asia's Collapsing Real Estate Fortunes'.
Courtesy: economictimes.indiatimes.com
Our Bureau
Mumbai, Nov. 20 Investigations carried out by the capital markets regulator show no evidence of manipulation in the share prices of ICICI Bank, said a news release from SEBI.
The bank had in September sought an investigation by SEBI into its share price movement, alleging that rumours were being spread about the bank to deliberately bring down its stock price. The ICICI scrip had started to tank on news of its exposure to Lehman bonds, and although the bank’s CEO had announced that its fundamentals were sound, the fall was not arrested.
SEBI analysed the trading pattern of the shares of ICICI Bank for the period September 8 to October 10, 2008 when the scrip fell 49.52 per cent, from Rs 720 to Rs 363.65.
“SEBI did not find evidence of manipulative trading in the ICICI Bank shares during the period referred,” said the release.
“None of the major sellers were observed to be placing orders successively at lower price. Also there was no pattern observed of booking intraday profits by major clients or brokers during this period.
“By and large, the trading patterns are consistent with the shareholding pattern of ICICI with predominant holdings by FIIs, the general buying and selling behaviour by FIIs and the broad movements of the market during this period.” When contacted, an ICICI Bank spokesperson declined to comment on the SEBI release.
The top 20 investors in ICICI Bank both on net buy and sell basis in the cash market show that majority of them were FIIs. (While 14 FIIs and four mutual funds were net buyers, 17 FIIs and two mutual funds were net sellers.)
FIIs have reduced their holding in ICICI Bank between the quarter ended on June 30 and September 30 by around 3 per cent, from
SEBI also found that the prices of ICICI Bank’s American depository receipts (ADR) fell more (53 per cent) than the shares of ICICI Bank in the Indian market during the period of investigation.
The underlying shares against ADR held by Global Custodian also show a fall of around 20.5 million shares during the period representing January 1, 2008 to September 30, 2008 indicating an increase in the shares available in the Indian market, said SEBI.
Sebi chairman Chandrakant Bhaskar Bhave told media in Mumbai that countries that had banned short selling had seen their markets dipping. “Most of them have restarted short selling,” he added.
According to him, the prolonged fall in the markets was instead the results of the collapse of liquidity in international financial markets, the subsequent failure of financial entities and the consequent global recession that has set in. The Bombay Stock Exchange’s Sensex has fallen by 37.54% since September 15, when Lehman Brothers went bankrupt.
The regulator’s position is similar to that of the finance ministry, which too did not buy the presumption that short selling was responsible for the market crash. In short selling, an investor sells a borrowed share. If the market goes down, the investor makes a profit as he can buy the stock at a lower price than the one at which he sold short.
From October, Sebi has been posting scrip-wise data on short selling on its Web site every week to improve transparency in the market. “We don’t have evidence that short sellers were driving the market down,” Bhave said. There is, therefore, no move to ban short selling, he added
Bhave said his agency was still examining the investment pattern of the foreign institutional investors, the largest category of investors in India. Sebi had examined their accounts of shares lent overseas for short selling. “After having conveyed our disapproval, we have not seen any activity in the overseas markets,” he added. Last month the regulator had warned some FIIs against short selling Indian equities to overseas entities. The business allowed them to side step the margin needs for short selling specified by Sebi. He said the long-term India story was holding out well as seen from FII sale and purchase patterns.
A Sebi release on Thursday said there has been no visible manipulation for the slide in the ICICI Bank scrip in October. ICICI Bank on September 17, 2008 had told Sebi, there was “a malicious rumour to the effect that some of the top management have been selling ICICI Bank shares for the last few days”. The ICICI shares slipped 12.5% from Rs 640 on September 15 to Rs 560.30 on September 17.
“By and large, the trading patterns are consistent with the shareholding pattern of ICICI with predominant holdings by FIIs, the general buying and selling behaviour by FIIs and the broad movements of the market during this period” the Sebi release said.
Speaking about the host of problems faced by the mutual fund industry in a crashing market, Bhave said the mutual funds industry too was facing a liquidity crisis similar to that of the corporate sector.
Bhave asserted that there were no signs of bad investments by mutual funds. However, in the October meltdown was an opportunity for MFs and the regulators to take a re-look at the MF business, the rules that govern them and the extent to which improvements are required, especially in debt-based schemes, he said.
He said that logically, when the industry faced redemption pressures they would have to sell some holdings, and this was a global phenomenon not just restricted to India. Since, equity holdings are more liquid, they fund houses had liquidated some holdings.
Also, since Indian investors were not as highly leveraged as the developed market investors, there was still scope for investors to resume their activities in the market. “This is the silver lining,” Bhave said.
On the partnership of Sebi and Securities Commission, Malaysia, he said Sebi and the Malaysian entity could work together in some areas. One area could be cross-listing, he said, where a Malaysian company could seek to raise capital in India and vice-versa. This will give both Malaysian and Indian investors access to each other’s markets.
“So far, our source of capital was from the developed world but now the developing world is also coming into its own. For emerging markets, there is an opportunity to co-operate amongst themselves and diversify their sources of capital,” he said.
Clean chit
•Sebi has no plans to abolish short selling
•No irregularity in ICICI Bank stock movements
•No signs of bad investments by MFs
•New norms for debt-based MFs on the cards
•FIIs no longer lend shares in overseas markets ...
Courtesy: financialexpress.com
Source : CNBC-TV18
Devangshu Dutta, Consulting Editor of Living Media is of the view that Reliance Industries has support at Rs 1050-1075.
Dutta told CNBC-TV18, "There is enormous support coming in for Reliance at Rs 1050 to Rs 1070 levels and as a result you could call it a sort of sentiment indicator, people would come in below Rs 1100 on a fairly long term basis, the IT sector might provide some sort of support if the rupee is staying at Rs 49-50 levels or going lower."
He further added, "The PSU in the energies
region, ONGC, as well as HPCL or BPCL can be counter cyclical, that is dependent on government policy but it is potentially a counter cycle which would in ONGC’s case if the Nifty weight is concerned, not so much in Sensex because of methodology but it is reasonably significant. The real estate stocks have got hit the hardest and it doesn’t look like recovery is likely to start."
| Share Price Movement During The Last 12 Months | ||||
| Period | Price | Latest Price | Gain/Loss (Rs.) | % Gain/Loss |
| 3-Days | 1148.55 | 1127.00 | -21.55 | -1.88 |
| 5-Days | 1207.00 | 1127.00 | -80.00 | -6.63 |
| 7-Days | 1207.00 | 1127.00 | -80.00 | -6.63 |
| 15-Days | 1437.05 | 1127.00 | -310.05 | -21.58 |
| 1-Month | 1321.25 | 1127.00 | -194.25 | -14.70 |
| 3-Month | 2224.95 | 1127.00 | -1,097.95 | -49.35 |
| 6-Month | 2602.00 | 1127.00 | -1,475.00 | -56.69 |
| 9-Month | 2552.00 | 1127.00 | -1,425.00 | -55.84 |
| 1-Year | 2852.50 | 1127.00 | -1,725.50 | -60.49 |
Courtesy: news.moneycontrol.com
Bombay Stock Exchange’s Sensex closed at 8723.31, down 204.89 points or 2.29 per cent. The index touched a low of 8732.31 and high of 9236.27 during the day.
National Stock Exchange’s Nifty ended at 2619.25, down 2.38 per cent or 63.90 points. The broader index touched an intra-day high of 2772.40 and an intra-day low of 2617.90.
ITC (2.61%), Ranbaxy Laboratories (2.14%), Tata Consultancy Services (0.29%) and Mahindra & Mahindra (0.2%) were the only gainers in the 30-share index.
Losses in Reliance Communications (-5.96%), Jaiprakash Associates (-5.74%), Hindalco Industries (5.29%), BHEL (5.25%) and Grasim Industries (5.18%) dragged down the indices.
Shares of Reliance Industries plunged around 7 per cent from intra-day high of Rs 1220 to close Rs 1133.15, down 0.66 per cent from its previous close.
Market breadth on BSE remained negative with 1711 declines against 786 advances.
(All figures are provisional)
Courtesy: economictimes.indiatimes.com
The 30-share barometer settled the day lower by 303.36 points, or 3.08 per cent, at 9,536.33 after swinging wildly on alternate bouts of selling and buying. In two days it has shed nearly 1,000 points.
The bellwether index lost 280 points in early trade but it recovered sharply on encouraging numbers on industrial growth. It even seemed that the crucial 10,000 level is very well within the day's trade when the index touched the day's high of 9928.60 points.
However, by mid-session profit-booking emerged bringing the Sensex steeply lower. It even plunged to day's low of 9376.73 points before rising again to settle day at 9,536.33 points.
The broader Nifty of the National Stock Exchange also lost 90.20 points, or 3.07 per cent, to close at 2,848.45 points.
Marketmen said sentiments were so weak that even 4.8 per cent industrial growth in September, a reversal of abysmal performance in August, failed to revive buying support.
A fall in excise duty collection in October, coupled with a decline of 15 per cent in country's exports in the same month have severely damaged sentiments.
Realty sector index suffered the the most by losing 7.34 per cent at 2,046.64 as stocks of DLF Ltd fell by 8.61 per cent at Rs 244,60, Indiabull Realty by 13.82 per cent at Rs 112.60 and Unitech Ltd by 4.02 per cent at Rs 49. MORE PTI
Reliance Industries, the heaviest among all Sensex-related stocks, also declined by 3.72 per cent.
Courtesy: hindustantimes.com
The transaction values the company that specialises in CDMA-technology services and has plans to launch GSM services at Rs 50,269 crore.
Under stock exchange rules, both Tatas and DoCoMo would jointly make an open offer to acquire a 20 per cent stake in Tata Teleservices (Maharashtra Ltd), a listed subsidiary of TTSL which operates in Maharashtra and Goa. The open offer would be made at around Rs 22-23 per share at a premium of 27 per cent from the current levels, a source close to the Tata Group said.
TTSL would leverage DoCoMo's expertise in the development and delivery of value-added services, where DoCoMo is a firmly established market leader, TTSL said in a statement.
The Tatas would use the funds to increase the network infrastructure and strategic presence across the country and also for its GSM roll-out. TTSL plans to invest more than Rs 6,000 crore for its GSM operations and another Rs 2,000 crore to expand its CDMA operations. Tata Teleservices, with more than 30 million subscribers, is the sixth largest telecom service provider in the country.
The deal with DoCoMo would be the second round of equity dilution in Tata Teleservices. Earlier in 2006, TTSL had sold close to 17 per cent stake to Singapore’s Temasek and C. Sivasankaran, founder of South-based service provider Aircel.
Courtesy: hindustantimes.com
Mumbai: Oct. 17 The widely tracked 30-share Sensex on Friday plunged below the 10,000-level for the first time since July 2006, leaving market participants aghast.
Although investors expected this to eventually happen, the actual decline of the index to a four-figure level has intensified the degree of fear and uncertainty among them.
“We cannot say anything about the markets… or what would be the next low,” said a dejected broker.
After opening in the green at 10,763, the index finally closed 606 points down at 9,975, losing 5.7 per cent from its previous close.
While it took more than two years for the Sensex to move from 10,000 to 21,200 in January this year, it took just three quarters to slip back all the way.
The Sensex heavyweight Reliance Industries closed 6.5 per cent lower at Rs 1,305; earlier in the day, it had touched a new 52-week low of Rs 1,290.
The Nifty too neared the 3000-level as it hit an intra-day low of 3046. It finally closed at 3074, a fall of 5.9 per cent.
Indian stocks started their journey southward after the European markets, which had opened in the green, turned weak. Also, the Dow Jones Industrial Average Futures index charted the same path, said an analyst.
All the Sensex stocks closed in the red, the index heavy weights losing between 5 and 10 per cent.
The BSE Small-cap and Mid-cap indices declined less, and were down 2.76 per cent and 3.07 per cent respectively.
The FIIs were yet again net sellers, their net sale amounting to Rs 915 crore on Friday. Domestic institutional investors bought equities worth Rs 713 crore, according to the data furnished by the custodians to the stock exchanges.
FII outflows are a global phenomenon and not due to any domestic factor, said analysts.
“The hedge funds and investors using participatory notes have been unwinding their positions. The international investors, particularly in these two categories, have pulled out their investments from the mid-cap and small cap companies,” said Mr T.P. Raman, Managing Director, Sundaram BNP Paribas Mutual Fund.
On the redemption pressure on mutual funds, especially the FMP schemes, Mr Raman said, “Corporates that have put money in mutual funds are taking it back as lending by banks is under strain. Though the Government and RBI have stepped in to ease liquidity, it may take 15 days to one month for the situation to ease.”
However, as the sub-10,000 level looks attractive, retail investors have started bottom fishing. BSE’s client data indicated a net buying for Rs 148 crore by them, while the proprietary trade by the brokerages showed a net selling for Rs 109 crore.
“We cannot rule out one more bout of panic selling. But buying support is likely at the 9000-9500 level,” said an analyst.
BSE indices for Realty, Power and Metal were the worst affected registering a 6 to 10 per cent fall.
The intraday high was Rs 179 and low Rs 99 on volume of 1,06,70,652 shares.
On BSE, Alkali Metals shares ended at Rs 173.15, a premium of Rs 70.15 or 68.11 per cent. The stock touched a high of Rs 179.30 and low was Rs 90.
Courtesy: economictimes.indiatimes.com
The annual rate of inflation stood at 3.11% as on Oct. 27, 2007 i.e. a year ago. Index for Primary Articles group rose by 0.4% from the previous week.
The index for Food Articles group rose by 0.4% from previous week`s level due to due to higher prices of rice (3%) and urad and tea (2% each).
Whereas, the index for Non-Food Articles group rose by 0.8% due to higher prices of raw rubber (7%) and raw cotton (3%). However, the prices of castor seed (4%) declined.
The index for Fuel, Power, Light & Lubricants group remained unchanged at its previous week`s level.
Index for Manufactured Goods declined marginally. Food Products index declined by 0.1% due to lower prices of gur (6%) and cotton seed oil (1%). However, the prices of butter (1%) moved up.
Textiles group index declined marginally by 0.1% due to lower prices of texturised yarn and hessian & sacking bags (2% each) and hessian cloth (1%). However, the prices of woolen cloth (1%) moved up.
At the same time, the index for `Paper & Paper Products` group declined by 0.1% due to lower prices of newsprint (1%).
Whereas, the index for `Non-Metallic Mineral Products` group declined marginally due to lower prices of cement.
The index for `Machinery & Machine Tools` group rose by 0.1% due to higher prices of electric motors: phase one (1%).
The Reserve Bank of India (RBI) stepped in again to inject more liquidity in the market and has further cut the Repo rate by 50 basis points to 7.5% from the current level of 8%.
Earlier, on October 20, the Reserve Bank announced a reduction in the Repo rate under the Liquidity Adjustment Facility (LAF) by 100 basis points from 9% to 8%.
Meanwhile, the cash reserve ratio (CRR) of scheduled banks is reduced by 100 basis points from 6.5% to 5.5%.
Courtesy: myiris.com
B G Shirsat / Mumbai October 28, 2008, 0:14 IST
The 30-scrip BSE Sensex has dropped 55.4 per cent in Samvat 2064. This is the biggest-ever fall in the Sensex since the Bombay Stock Exchange (BSE) started compiling this index in January 1986. During Samvat 2064, markets faced three major crises. First, it was commodities causing inflation. Second, a rise in interest rates to control excess liquidity and tame inflation, and finally, the global credit crisis.
We studied BSE-500 stocks to understand why the Indian market crashed more than global markets. The study revealed that prices of many stocks fell sharply on weak fundamentals, a change in the commodity cycle and the possibility of a downturn in the business cycle on account of the liquidity crisis and a rise in interest rates. Stocks that have not moved up with the market in the last one year have been affected the least in the current downturn.
The BSE-500 list has 363 stocks that have declined by over 55.4 per cent each, while only four stocks have given returns this Samvat. The remaining 133 stocks have declined below 55.4 per cent each. Interestingly, only 72 stocks among the most losers had return on networth (RONW) and return on capital employed (ROCE) below 10 per cent. Eighteen companies had negative RONW and ROCE, and for 20 others, we did not have financial information for 2007-08 and 2006-07.
Of the 500 stocks, as many as 160 companies had RONW and ROCE of over 20 per cent, another 160 had between 10 and 20 per cent and 70 others had between 1 and 10 per cent.
However, valuation in terms of price to earnings (P/E) had risen substantially a year ago when 250 stocks were quoted at a P/E multiple of 20 times for their trailing 12-month earnings for September 2007. Only 43 stocks were available at P/E of around 10 and below, while 106 others traded at P/E between 10 and 20. The remaining 47 have negative or nil P/E multiples.
The 55 per cent decline in the Sensex has brought a dramatic change in P/E valuations of the most affected stocks with 301 of 363 such stocks currently available at P/E below 10 for their trailing 12-month earnings for September 2008.
Interestingly, out of 137 stocks that have outperformed the Sensex in the Samvat, only four — Procter & Gamble, Castrol, Lupin and Zandu Pharmaceuticals — have reported gains, while the remaining 151 fell between 1 and 55 per cent.
There are 180 stocks in the BSE-500 that have declined by over 70 per cent each over their closing prices at the end of Samvat 2063 (November 8, 2007). These big losers are from sectors such as cement, housing and construction, engineering, capital goods, media and entertainment, brokerages, metals, sugar and automobiles. As is known, these sectors become vulnerable in the recessionary atmosphere.
The least affected stocks are from pharmaceuticals, personal care, FMCG, services, fertilisers and chemicals and oil marketing firms as most of these stocks had not gained in the recent bull market.
Among the large-cap stocks in the BSE-500, the top losers in Samvat 2064 are Unitech, IVRCL Infra, Suzlon Energy, Jai Corporation and Jet Airways, down by over 80 per cent each on account of the current economic downturn. Tata Steel, Sterlite and Hindalco in the metal segment, Indiabulls Real Estate, Omaxe and DLF in the real estate segment, ICICI Bank, Yes Bank and IDFC in the banking space have declined by over 70 per cent each.
Courtesy: business-standard.com
Source: moneycontrol.com
It was a strong Muhurat trading session for the Indian market. Benchmark indices have rebounded sharply in the Samvat 2065 and have broken four-session losing streak. The positive trend in global markets also helped our markets. Buying was seen in the most beaten down sectors namely realty, metal, power, capital goods, oil and auto stocks. Midcap and small cap stocks also followed the same trend.
Reliance Industries, Bharti Airtel, Reliance Communication, TCS, ICICI Bank, Unitech, SAIL, BHEL, Infosys, Reliance Infrastructure and Sterlite Industries were leaders in today's trade. All BSE Indices ended in positive terrain.
The 30-share BSE Sensex closed above 9000 mark. It surged 498.52 points or 5.86%, to settle at 9,008.08, after hitting an intraday high of 9,056.97.
The 50-share NSE Nifty remained above 2600 throughout the session. It closed with a gain of 160.4 points or 6.35% at 2684.60. It touched a high of 2695.95. Nifty October and November Futures ended with premium of 20.20 points and 10.55 points.
The BSE Midcap Index was up by 191.23 points or 6.45% to 3,157.46 and the Small Cap Index jumped 232.77 points or 6.69%, to settle at 3,711.61.
Market breadth was positive; about 2076 shares have advanced while 901 shares have declined. Nearly 213 shares remained unchanged.
Among the frontliners; Unitech, Hindalco, Tata Motors, Suzlon Energy, Zee Entertainment, DLF, Reliance Communication, M&M, Jaiprakash Associates and Reliance Infrastructure gained 10-15%.
Realty, the most beaten sector, witnessed huge buying interest. Index surged 181.35 points or 9.98%, to close at 1,998.63. Unitech and DLF were up 14.99% and 9.87%, respectively. Peninsula Land, Mahindra Life and Parsvnath rose 14-16%.
Metal Index was up by 304.12 points or 7.12% to 4,572.68. Hindalco, NALCO, Tata Steel, Jindal Steel and Sterlite Industries gained 7-11%. SAIL surged 4.26%.
Gain In Indices | |||
| Index | Current Value | Change (Pts) | Change (%) |
| REALTY | 1998.63 | 181.35 | 9.98 |
| METAL | 4572.68 | 304.12 | 7.12 |
| POWER | 1500.62 | 98.47 | 7.02 |
| CG | 6784.02 | 444.22 | 7.01 |
| SMLCAP | 3711.61 | 232.77 | 6.69 |
| OIL&GAS | 5524.52 | 345.21 | 6.67 |
| MIDCAP | 3157.46 | 191.23 | 6.45 |
| AUTO | 2483.85 | 149.92 | 6.42 |
| NIFTY | 2684.6 | 160.4 | 6.35 |
| SENSEX | 9008.08 | 498.52 | 5.86 |
| BANKEX | 4704.68 | 232.66 | 5.2 |
| IT | 2695.85 | 108.88 | 4.21 |
| HC | 2781.51 | 109.67 | 4.1 |
| FMCG | 1783.91 | 68.41 | 3.99 |
Power stocks like GMR Infra rose 20%. Suzlon Energy, Reliance Infrastructure and Power Grid Corp gained 9-11%. Power Index gained 98.47 points or 7.02% to 1,500.62.
Buying was also seen in the Capital Goods sector; index rose 444.22 points or 7.01% to 6,784.02. Siemens, Thermax, L&T, ABB and BHEL were up 6-10%.
Oil & Gas Index surged 345.21 points or 6.67%, to close at 5,524.52. Reliance Industries and ONGC were up over 7% and 3.7%, respectively. Oil marketing companies like IOC, BPCL and HPCL were up 4-6.6%.
Auto stocks Mahindra & Mahindra, Tata Motors, Maruti Suzuki and Hero Honda jumped 4.85%-12.68%. Auto index was up by 149.92 points or 6.42%, to settle at 2,483.85.
Telecom stocks like Reliance Communication, Bharti Airtel and Idea Cellular rose 6.5-8%.
BSE Bankex ended with a gain of 232.66 points or 5.20% at 4,704.68. SBI and ICICI Bank were up over 6% each. PNB, Union Bank and HDFC Bank gained 3.5-4%.
IT Index moved up by 108.88 points or 4.21% to 2,695.85. Tech Mahindra, HCL Tech, TCS, Wipro, Satyam and Infosys were up 2-11%.
Pharma stocks like Sun Pharma Advanced, Cipla, Piramal Health and Ranbaxy Labs gained 6-15%. BSE Healthcare Index jumped 109.67 points or 4.10%, to close at 2,781.51.
FMCG Index ended at 1,783.91, up 68.41 points or 3.99% over previous close. Tata Tea, Dabur India,, Nestle, ITC and United Spirits jumped 4-8%.
Among the midcap stocks, IVRCL Infrastructure, Everest Kanto, UTV Software, Patel Engg, Orbit Corporation, PSL and Koutons Retail rose 20-31%.
In the small cap space, Kalyani Steels, Kewal Kiran, Classic Diamond, Easun Reyrl, Dewan Housing and Agro Tech Foods were up 20-28.5%.
Global markets also saw strong bounce back in today's session. European markets were trading sharply higher; FTSE was up 2.78% at 3,959.84. CAC and DAX were up by 2.25% and 6.09% at 3,136.29 and 4,598.67, respectively, at 7:50 hours IST.
In the US markets, the Dow Jones Industrial Average was trading at 8,364, up 189 points. The Nasdaq rose 24.75 points to 1,530.64 and S&P 500 gained 16 points at 864.
Asian markets ended sharply higher. Hang Seng was up by 14.35%. Nikkei surged 6.41%. Straits Times and Kospi rose 4.14% and 5.57%, respectively. Shanghai jumped 2.81% and Taiwan was up 0.76%. However, Jakarta lost 4.72%.
Crude was trading at USD 63.58 to a barrel on the NYMEX.
Markets @ 6:47 pm : Mkts strong; RIL, Bharti, Rel Comm, ICICI, TCS lead
The market is trading sharply higher and in line with global markets. The Nifty is holding 2600 mark. The Sensex has jumped back above 9000 mark in the opening trade, but was not able to sustain above that level. Buying is seen in the most beaten down sectors like realty, metal, power, capital goods, auto and oil.
The Sensex rose 483 points to 8,992 and the Nifty gained 154 points to 2,678, at 6:47 pm. BSE Midcap and Small cap indices jumped 6% each.
Reliance Industries, Bharti Airtel, Reliance Communication, TCS, Unitech, ICICI Bank, SAIL, DLF, BHEL and Infosys are top contributors in today's rise.
BSE Realty Index rose over 10%. Metal, Capital Goods, Power, Auto and Oil & Gas indices jumped 6-7%. Bankex, Healthcare, FMCG and IT indices gained 4-5.5%.
Markets @ 6:15 pm : Mkts bounce back in Samvat 2065; Nifty above 2600
The market has snapped four-session losing streak and has bounced back sharply on the day of Samvat 2065. Pullback rally is seen in realty, metal, capital goods, power, banking and oil stocks. Midcap and small cap stocks are following the same trend.
At 6:15 pm, the Sensex rose 545 points to 9,054 and the Nifty gained 159 points to 2,684. CNX Midcap jumped 176 points to 3,436.
Reliance Industries, Bharti, SBI, L&T, Unitech, Hindalco, Suzlon Energy and Reliance Infrastructure were major gainers.
European markets are trading higher. FTSE Index rose 4.03% to 4,010. CAC and DAX gained 2.93% and 8.99% to 3,157 and 4,724, respectively.
The Dow Jones Futures surged 4.58% to 8,378 and the Nasdaq Futures gained 4.17% at 1,210.
Asian markets ended sharply higher. Hang Seng was up by 14.35%. Nikkei surged 6.41%. Straits Times and Kospi rose 4.14% and 5.57%, respectively. Shanghai jumped 2.81% and Taiwan was up 0.76%. However, Jakarta lost 4.72%.
Crude is trading around USD 64.69 to a barrel on the NYMEX.
Courtesy: moneycontrol.com
Source : moneycontrol.com
Every single morning we come across the flashes like - Asian markets crashed; US markets plunge; rupee and crude touching all-time lows and SGX Nifty deep in red. It has been a similar pattern for trading sessions in October. The Sensex has fallen from 13,202 to sub-8000 levels in October. The trend continued today with the Sensex losing another 10% till afternoon.
However, a smart pullback helped the benchmark index recoup its losses in the later half of the day. The market saw a V-shape recovery on the back of short covering and buying support by the domestic institutional investors. Domestic insurance companies bought the index stocks in the late trade. Volumes were low at the institutional desk ahead of truncated week.
Buying was seen in telecom, selective realty, oil and metal stocks. However, selling continued in auto, FMCG, pharma, capital goods, banking (barring ICICI Bank) and power (barring Reliance Infrastructure) stocks.
The 30-share BSE Sensex has touched an intraday low as well as October 2005 level of 7,697.39 (down 1,003.68 from previous close), before ending the day at 8,509.56, down 191.51 points or 2.2%. The 50-share NSE Nifty fell 59.8 points or 2.31%, to settle at 2524.20. It has hit a low of 2252.75 (down 331.25 from previous close).
Frontline indices have recovered 812.17 points and 271.45 points from day's low. A 20 Nifty stocks have recovered over 15% from day's low. The BSE Midcap Index fell 129.45 points or 4.18%, to close at 2,966.23. The BSE Small Cap Index lost 182.99 points or 5%, to settle at 3,478.84.
Lackluster rollovers seen in today's session; Nifty rollover stood at 47.1% while Marketwide rollover at 43.9%. The Nifty open interest Put-Call Ratio (PCR) was at 0.66; implied volatilities increased further. Nifty November Futures added 62.6 lakh shares and ended with a discount of 4.2 points. October Futures saw a mild premium of 1.8 points.
Market breadth was extremely weak throughout the day; about 698 shares have advanced while 2305 shares have declined. About 187 shares remained unchanged.
The total traded turnover stood at Rs 59,015.60 crore. This includes Rs 9,636.40 crore from NSE Cash segment, Rs 46,002.30 crore from NSE F&O and the balance Rs 3,376.90 crore from BSE Cash segment.
Among the frontliners, Unitech closed up by 37.58%. Ambuja Cements and Idea Cellular were up 10.36% and 7.06%, respectively. Bharti Airtel, Reliance Industries, Reliance Infrastructure, Reliance Communication, Sterlite Industries and ICICI Bank gained 2-6%.
However, Tata Motors, Mahindra & Mahindra, Jaiprakash Associates, Cairn India and NALCO tumbled 10-14%. Grasim, Tata Power, SBI, Larsen & Toubro, HDFC, Sun Pharma, Power Grid Corp and ONGC fell 7-9.5%.
The BSE Auto Index plunged 147.03 points or 5.93% at 2,333.93. Tata Motors and M&M fell close to 14%. Hero Honda and Maruti lost around 3-4%.
FMCG stocks GlaxoSmith Consumber, United Breweries, Dabur India, ITC, HUL, Nestle and United Spirits tumbled 5-9.7%. FMCG Index was down by 102.41 points or 5.63% to 1,715.50.
Healthcare Index lost 139.63 points or 4.97% to 2,671.84. Pharma stocks like Glenmark, Dishman Pharma, Matrix Lab and Ipca Labs fell 14-20%.
BSE Capital Goods Index tumbled 271.09 points or 4.10% to 6,339.80. L&T and Crompton Greaves fell over 7%. BHEL was down by 1.05%.
Bankex slipped 177.85 points or 3.82% to 4,472.02. SBI fell 8.63%. PNB and HDFC Bank were down over 4-5%. However, ICICI Bank gained 2.03%.
BSE Power Index was down by 50.75 points or 3.49% at 1,402.15. GMR Infra, Tata Power, Power Grid Corp, Reliance Power and NTPC lost 3.5-11%.
Metal Index ended lower by 125.32 points or 2.85% 4,268.56. NALCO and JSL fell over 12-13%. Jindal Steel, Hindalco and Tata Steel tumbled 5.5-9%.
BSE IT Index fell 0.44% to 2,586.97. Tech Mahindra, Wipro and HCL Tech fell 2.5-7%. However, TCS, Satyam and Infosys ended in green.
Among the midcap stocks, Consolidated Construction, Dishman Pharma, Allcargo Global, Dredging Corp and MIC Electronics tanked 19-20%.
In the small cap space, ABG Infralogistics, Golden Tobacco, Bhagwati Banquet, Genus Power and Ahluwalia lost 20%.
On the other hand, Oil & Gas Index gained 27.67 points or 0.54% at 5,179.31. Essar Oil and Reliance Industries gained 6-7%. ONGC plunged 5.85% and Cairn India lost close to 16%.
Telecom stocks like Bharti Airtel, Idea Cellular and Reliance Communication gained 3.6%-7%.
BSE Realty Index jumped 74.01 points or 4.25% to 1,817.28. Unitech was up 41.86%, after management clarification. Sanjay Chandra, Managing Director of Unitech clarified there are no defaults in Noida as reported, the company didn't get one plot due to farmer agitation. There is a group spreading rumours and the company has decided to approach the regulators for the same.
Other realty stocks like Indiabulls Real and Omaxe rose 15% and 9%, respectively. However, DLF lost 2.84%.
Asian markets ended with sharp cut barring Kospi. Hong Kong's Hang Seng lost 12.70%, after local money market rates jumped. Nikkei fell 6.36% at 7,162.90, which was the lowest closing in 26 years. Japanese Yen advanced by 1.2% to 92.6 to a dollar during the day. Philippines Index fell 12% at 1,713.8; it had triggered a temporary trading halt during the day.
Shanghai and Jakarta lost over 6.3%. Taiwan fell 4.65%. However, Kospi gained 0.82%.
Mitsubishi is going to raise USD 10.7 billion via new common shares and preferred securities.
Among the European markets, FTSE, CAC and DAX indices tumbled 3.5-6.5%, at 4:25 pm. There will be announcement of UK Nationwide housing prices.
Dow Jones and Nasdaq Futures were down at around 2.5-3%. US Treasury Secretary, Henry Paulson will give speech today. There will be announcement of US new home sales data for September.
Market Snapshot
New 2008 lows: Sensex hits a new low of 7697.3; Nifty hits a new low of 2252.7
Smart Recovery from the lows: Sensex recovers 812 points from days low, Nifty recovers 271 points from days low
Sensex closes down 191 points to close at 8509; Nifty closes down 60 points to close at 2524
Mid Cap & Small Cap Index underperforms the market; CNX mid cap down 4.4%, Bse Small Cap down.5%
Bse Realty up 4.2%, recovers 20% from days low , Unitech up 37.5%, Indiabulls Real Estate up 17%,
Bse Oil & Gas up 0.75%, recovers 13% from days low, Reliance up 5.6%, Cairn down 16.4%
Bse Auto down 6.6%, Tata Motors down 13.9%, M&M down 12.8%, Maruti down 4.1%
Bse cap goods down 4.4%, L&T down 5.8%, Punj Lloyd up 10.3%
Bse Bankex down 4.2%, Sbi down 9.6%, HDFC down 6.8%, Hdfc bank down 4.1%, Bank India down 9.5%
Index Losers : Tata Power down 9.8%, ONGC down 7%, Reliance power down 6.9%, HUL down 6.5%, ITC down 6.2%
Index Gainers : Ambuja up 10.3%, Idea up 7%, Bharti up 5.1%
Mid Cap Losers : Jindal stainless down 37.7%, Glenmark down 20%, Krbl down 20%, ABG Ship down 19.3%, Brigade down 16%
Mid Cap Losers : IOB down 15.8%, Kingfisher Airlines down 15.3%, Jet Airways down 15.3%, Videocon Ind down 13.3%, GSPL down 13.3%, Aban down 13.2%
NSE Adv : Decline at 1:5, recovers in the last session
Total market turnover at Rs 59015.60 crore versus Rs 67895.45 crore
NSE F&O Turnover at Rs 46002.30 crore versus Rs 52476.62 crore
F&O Snapshot:
Lackluster Rollovers: Nifty Rollover at 47.1%, Market Wide Rollover at 43.9
Nifty OI PCR at 0.66, IV rises Further
Nifty nov adds 62.6 lakh shares, Nov Fut ends at a discount of 4.2 points, Oct at a mild premium of 1.8%
Educomp trading at 200 point discount; ((SEBI Asks FIIs To Reverse Positions In Educomp, RPL FII Lending Data Oct 20))
A bit of short covering seen in Index Heavyweight
Index Heavyweight Rollovers:
Reliance Ind 43.3%
SBI 42.4%
Infosys 51.5%
Bharti 34%
Ntpc 45%
Icici Bank 59.4%
Options Activity:
Nifty Nov 3000 call adds 1.9 lakh shares
Nifty Oct 4100 Put adds 1.1 lakh shares
Nifty Oct 3000 put sheds 3.9 lakh shares
Asia Tumbles
Hang Seng down 12.7%,
Thailand down 10.5%,
Strait Times down 8.3%,
Nikkei down 6.3%
Global News
Japan Govt calls for Market – Stabilization measures
Bank of Korea cuts rate by 0.75 points to 4.25% after an emergency board meeting.
G7 says Yen volatility bad for economy, financial stability
Markets @ 2:51 pm : Mkts off day's low; RIL, Rel Infra, Bharti, SAIL gain
Markets have shown smart recovery in last one hour of trade, but are still trading lower. A little bit of volatility is witnessing by these indices. Buying is seen in Reliance Industries, Bharti Airtel, ICICI Bank, Unitech, SAIL, Ambuja Cements, Idea Cellular, Sterlite Industries, ABB, Reliance Infrastructure, BHEL and Cipla. However, selling continues in ONGC, SBI, HUL, Wipro, NTPC, Tata Power, M&M, Cairn India, Reliance Communication, ITC, L&T, DLF, TCS, HDFC Bank, HDFC and Power Grid.
The Sensex fell 307 points to 8,393 and the Nifty lost 96 points to 2,487, at 2:51 pm. BSE Midcap and Small Cap indices lost over 6% each. Both frontline indices have recovered over 700 points and 200 points, respectively.
Market breadth is in favour of declines; about 512 shares have advanced while 2496 shares have declined. Nearly 182 shares are unchanged.
BSE FMCG, Auto, Bankex, Capital Goods, Metal and Power indices lost 4-6%. IT fell over 3%.
Markets @ 2:27 pm : Mkts plummet; ONGC, SBI, NTPC, Rel Comm top draggers
The benchmark indices are still under pressure, despite showing smart recovery from day's low. The Sensex has clawed back above 8000 mark and the Nifty turned back above 2300 level. Global indices are also trading sharply lower, which are putting pressure on our markets.
The panic selling continues, as Asian markets collapsed. Relentless selling pressure from European fund continues. Dealers say that investors are liquidating stocks in panic. Bank and capital goods stocks continue to be under selling pressure. Portfolio stocks are being sold in panic. However, DIIs are nibbling at lower levels.
The Sensex fell 618 points to 8,082 and the Nifty lost 200 points to 2,383, at 2:27 pm. BSE Midcap and Small cap indices tumbled over over 7% each.
Market breadth is still weak; about 443 shares have advanced while 2564 shares have declined. Nearly 183 shares are unchanged.
Buying is seen in Bharti Airtel, Idea Cellular, Unitech, Ambuja Cements, Cipla and GAIL. However, top draggers are ONGC, SBI, NTPC, Reliance Communication, ITC, Wipro, L&T, HDFC Bank and TCS.
Suzlon Energy has suspended its rights issue of Rs 1800 crore. After this news, the stock had come back in the green and jumped over 8%. But immediately renewed selling pressure hammered the stock again.
On the global front, Asian markets closed sharply lower. Hang Seng tanked 12.7%. Shanghai, Jakarta and Nikkei fell over 6%. Taiwan lost 4.65%.
Among the European markets, FTSE fell 4.2%. DAX and CAC lost 3.86% and 6.04%, respectively.
Markets @ 1:15 pm : Sensex slips below 8000
Bears have charged up. Sensex has broken another psychological mark of 8000 and Nifty slipped below 2300 level as well. Metal, FMCG, power, capital goods, banking, realty, IT and oil stocks collapsed like a pack of cards.
The Sensex lost 971 points at 7729 and Nifty fell 320 points to 2,264, at 1:15 pm. Sensex has fallen 62% in 198 days while lost 40% in the month of Ocober (Fallen from 13,203 to below 8000 in October), and is trading at lowest levels since October 2005.
Chetan Ahya, Managing Director of Morgan Stanley, feels economies will take more time to come out of the global recession. The recession, he said, will take long to get over, and can last for as much as two years. As real economy comes under pressure, we will see rise in non-performing loans, he said, adding that credit markets will recover only once the recession is closer to an end. Ahya added the current account deficit and strong credit growth compounds problems.
The BSE Metal and FMCG indices plunged over 11%. Realty and Power indices fell over 10%. Bankex, Capital Goods, Oil & Gas, IT, TECK and Auto indices lost 7.5-10%. Midcap and Small cap indices crashed over 7% each.
Among the frontliners, Wipro, Grasim, ONGC, Jaiprakash Associates, HUL, Siemens, Power Grid Corp and BPCL fell 14-18%. Zee Entertainment, NALCO, Cairn India and DLF crashed 21-24%.
Daryl Guppy, Founder and Director, Guppytraders.com, sees the Nifty support at 2,200 and below that at 1,500. For the Sensex, he sees next support at 7,500 and below that at 6,000."
FIIs sold equities worth Rs 12,084 crore month till date. However, DIIs invested Rs 9,232 crore, out of which MFs invested Rs 628 crore.
The Indian Rupee is trading above 50 to a dollar. Ahya said the issue of exchange rates remains a key challenge to emerging markets, adding that he sees rupee depreciating to lows of Rs 54-55 per dollar in five or six months.
On the global front, Dow, Nasdaq and S&P 500 futures are trading lower by 3.5-4%.
Among the Asian markets, Hang Seng lost nearly 13%. Shanghai, Jakarta and Nikkei fell 6-7%. Taiwan lost 4.65%.
Markets @ 12:22 pm : Nifty struggles @ 2400; Bank, metal, FMCG stocks crash
The selling in power, metal, banking, FMCG, capital goods and technology stocks is putting pressure on the benchmark indices. Both frontline indices are down over 5% each. Asian markets are trading lower by 4-6% barring Kospi.
The Sensex tumbled 594 points to 8,106 and the Nifty fell 198 points to 2,385, at 12:22 pm. BSE Midcap and Small Cap indices lost around 6% each.
The market breadth is weak; about 566 shares have advanced while 2430 shares have declined. Nearly 194 shares are unchanged.
Sandeep Bhatia, Executive Director and Head – Sales, Kotak Institutional Equities, believes that most of the pain in financials is over, but the real economy is still in trouble. He sees Sensex bottom at 8000 levels, based on FY09 EPS of Rs 900. He said the markets will stay ranged till real economy bottoms out.
Among the frontliners, Wipro, Tata Power, DLF, SBI, NTPC, Cairn India, NALCO, Power Grid Corp, Zee Entertainment, ABB, HUL, Siemens, Reliance Power, Hindalco, BPCL and Reliance Communication slipped 10.5-19%.
BSE Metal, FMCG, Power, Capital Goods and Bankex plunged 7-9%. IT, Realty, Auto, Oil & Gas and TECK indices fell 5-6%.
Among the midcap stocks, Mahindra Life, Allcargo Global, Bombay Rayon, Advanta, Brigade Enterprises, JSL and Motilal Oswal lost 19-21%.
In the small cap space, ABG Infralogistics, Bhagwati Banquet, Dolphin Offshore, Ahluwalia, Sanghi Ind and Subhash Project tanked 19-20%.
Markets @ 11:16 am : Mkts under pressure; SBI, ONGC, NTPC, Wipro, TCS drag
The market is witnessing huge selling pressure, despite showing some bit of recovery from day's low. Banking, power, metal, technology and capital goods are taking huge beating on the bourses. Midcap and small cap stocks are under pressure.
The panic selling from local players continues today as well. The European funds continue to be seller across the region. Domestic institutional investors are not very active in early trade. Bank and capital good stocks are under pressure.
Daryl Guppy, Founder and Director, Guppytraders.com, sees the Nifty support at 2,200 and below that at 1,500. For the Sensex, he sees next support at 7,500 and below that at 6,000. "
The Sensex lost 473 points to 8,227 and the Nifty fell 167 points to 2,420, at 11:16 am. The BSE Midcap Index plunged 5.61% to 2,921 and the Small Cap fell 5.5% to 3,461.
Among the frontliners, Cairn India tumbled nearly 26%. Wipro, Tata Power, DLF, TCS, SBI, NTPC, NALCO, ABB, Power Grid Corp, Siemens, HUL and BPCL slipped 10-19%.
The market breadth is in favour of declines; about 569 shares have advanced while 2424 shares have declined. Nearly 197 shares are unchanged.
The BSE Power, Metal and Bankex crashed over 7.5% each. Capital Goods, IT, FMCG and Healthcare indices fell 5-6%. TECK, Oil & Gas, Auto and Realty indices lost 3.5-4.5%.
However, top gainers are Unitech, Suzlon Energy and Idea Cellular.
Markets @ 10:43 am : Nifty slips below 2400; bank, power, metal, CG stks crash
The market has drifted further, as banking, power, metal, capital goods, pharma and FMCG stocks are under pressure. Midcap and small cap stocks are following the same trend. The Nifty is trading below 2400 mark.
The Sensex tumbled 560 points to 8,140 and the Nifty fell 194 points to 2,389, at 10:43 am. Midcap and Small Cap indices have lost 4-5%.
NTPC (-8.4%), SBI (-11%), ONGC (-5.7%), TCS (-8.2%), HDFC Bank (-7.75%), Cairn India (-14%), SAIL (-9.4%), Power Grid Corp (-11%), DLF (-7.6%), L&T (-6.72%), HDFC (-8.16%), Tata Power (-13%) and ICICI Bank (-5.73%) are biggest contributors to this fall.
Market breadth is weak; about 642 shares have advanced while 2345 shares have declined. Nearly 203 shares are unchanged.
However, gainers are Suzlon Energy (5.6%), Unitech (33.55%) and Idea Cellular.
The BSE Bankex plunged 7.2%. Power Index fell 6.5%. Metal, Capital Goods, Healthcare and FMCG indices lost 4-6%. Auto, IT and Oil & Gas indices fell 2-3.4%.
Abhijit Chakraborty of Edelweiss Capital feels that the process of de-leveraging is still on. Many hedge funds — including India-dedicated long-offshore funds — are facing redemption-led pressures and it will not be a surprise if some funds close down before the end of the year, he said.
Markets @ 10 am: Nifty tests 2500 in early trade
The market has opened sharply lower on the back of negative global cues. However, it has immediately managed to trim losses due to buying in technology, selective oil and realty stocks. The 50-share NSE Nifty touched 2500 in early trade. The selling is seen in pharma, banking, power and FMCG stocks.
At 10:00 am, the Sensex fell 83 points to 8,617 and the Nifty lost 28 points to 2,555. CNX Midcap 100 lost 43 points to 3,367.
DLF, HDFC Bank, Sterlite Industries, Ranbaxy Labs, Reliane Infrastructure, Reliance Power, Nalco, TCS, M&M and Wipro are losers.
Unitech went up over 30% and is the top traded counter on the exchanges. It had lost over 50% on Friday.
Asian markets are trading lower. Hang Seng and Taiwan went down 5.5% each. Jakarta fell 6.8%. Kospi lost 1.5% and Shanghai fell 3.6%. Nikkei went down 0.4%.
The crude is trading at 16-month lows. OPEC has cut 1.5 million barrels per day (bpd) to 27.308 million bpd, which will be effective from November 1. OPEC said that the global demand declined for the first time in 15 years and will stagnate in 2009. It is hovering around USD 63-64 to a barrel.
The US markets had closed with substantial losses but the extent of the fall was far less than what was initially feared. At that point, the Dow was down 5.8% and the Nasdaq fell 6.9% to a new five-year low. Dow plunged 312.30 points, or 3.59%, to 8,378.95. The S&P 500 index slipped 31.34 points, or 3.45%, to 876.77, and the Nasdaq composite index lost 51.88 points, or 3.23%, to 1,552.03.
Market cues:
FIIs net sell USD 86.1 million in equity
MFs net sell Rs 80.7 crore in equity
F&O cues:
NSE F&O Open Int down Rs 2,241 cr at Rs 67,566 crore
Futures Open Int down by Rs 3,265 cr, Options Open Int up by Rs 1,024 crore
Nifty Oct Futures shed 20 lakh, Nov Futures add 40 lakh shares in Open Int
Nifty Oct at 24-pt discount, Nov at 38-pt discount
Nifty OI Put-Call ratio at 0.66 Vs 0.71
Nifty Puts OI unchanged, Calls add 43.6 lakh shares in Open Int
Nifty Oct 2800 Put adds 6 lakh shares in Open Int, premium at Rs 264
Nifty Nov 2800 Put adds 5 lakh shares in Open Int, premium at Rs 401
Nifty 3100 Put sheds 5.7 lakh shares in Open Int, premium at Rs 528
Nifty 2900 Put sheds 4 lakh shares in Open Int, premium at Rs 355
Nifty 2800 Call adds 17 lakh shares in Open Int, premium at Rs 38