Mkts close in deep red: Banks, IT, FMCG culprits

Mkts under selling pressure: BSE IT down 3.5%

The markets are still trading on the lower side as selling pressure continues in technology, banking, FMCG and capital goods stocks. Market breadth is negative, nearly 311 shares advanced while 898 shares declined on the NSE. Midcap and small cap stocks are also in red. On the global front, Asian markets have slipped.

At 11:28 am, the Sensex was down 242 points at 17,097 and the Nifty down  51 points at 5,084.

Market breadth is negative, about 1009 shares have advanced, 1873 shares declined, and 204 shares are unchanged.

Satyam, TCS, ITC and Infosys were major losers, down over 4% each while gainers were Bharti Airtel, Reliance Comm, ACC, Idea and Hindalco.

Reliance Power, Reliance Capital, Infosys, Bharti Airtel, Reliance Industries and Aishwarya Telecom were most active counters.

All BSE indices are in the red. Especially, technology, banks and FMCG stocks were draggers for the markets, respective BSE indices down 2-3.5%.

Mkts southbound; Infy, Satyam, Wipro, Unitech top losers

The markets have knocked down and are trading sharply lower as technology, realty, banking, capital goods, metal, and auto stocks witnessing selling pressure. Midcap and small cap stocks are also trading lower. Market breadth is negative; 235:869. On the global front, Asian markets are still trading in red.

At 10:20 am, the Sensex was down 212 points at 17,122 and the Nifty down  56 points at 5,078. Midcap and small Indices were down over 0.75%.

Infosys, Wipro, Satyam and Unitech were top losers while top gainers - Reliance Comm, ACC, Ambuja Cements, Tata Comm, Tata Steel and Idea Cellular.

Aishwarya Telecom, Cairn India, Bharti Airtel, Reliance Industries and Infosys were most active shares on the bourses.

Market breadh is negative, about 1055 shares have advanced, 1825 shares declined, and 206 shares are unchanged.

Technology stocks have underperformed the markets, BSE IT Index slipped over 2.9%. Realty and Bankex were down over 1.9%.

FMCG, Capital Goods and Power indices fell over 1.5%. Oil & Gas, Metal, Healthcare and Auto also slipped over 0.5%.

The Indian rupee has been depreciating as against US dollar, currently trading at 41.67 per dollar.

Mkts open lower on weak global cues; IT, realty stks down

At 9:56 am - The markets have opened lower on the back of weak global cues and selling pressure in banking, technology, realty, telecom, capital goods, power and oil marketing stocks. Midcap and small cap stocks are also trading lower.

At 9:56 am, the Sensex was down 228 points at 17,111 and the Nifty down 58 points at 5076.

Sail, ICICI Bank, Idea, Reliance Comm, Infosys, Bharti Airtel, SBI, Unitech and HDFC Bank were losers in early trade.

Technology and major banking stocks were down as their ADRs slipped.

Asian markets were trading lower. Hang Seng was down 221.38 points or 0.87% at 25,388.38. Jakarta Composite fell 1.09% or 25.98 points at 2,356.72.

Nikkei 225 Average was down 0.85% or 119.19 points at 13,983.29. Straits Times was down 67.69 points or 2.1% at 3,161.26. Seoul Composite fell 11.44 points or 0.62% at 1,842.57. Taiwan Weighted fell 111.86 points or 1.25% at 8,814.48.

However, Shanghai Composite was up 0.95% or 34.01 points at 3,613.15.

US markets ended sharply down led by financials and spiraling crude prices. The Dow lost 206.48 points to close at 12,814. While the Nasdaq lost 45 points and shut at 2,438. The S&P 500 also lost 26 points and shut shop at 1,393.

Market cues:

• FIIs net sell $180.7 mn in equity on May 6
• MFs net sell Rs 26.5 cr in equity on May 6
• NSE F&O Open Interest up by Rs 1,019 crore at Rs 69,664 crore

F&O cues:

• Futures Open Int up by Rs 468 crore, Options Open Int up by Rs 551 crore
• Nifty futures add 1.6 lakh shares in Open Int
• Nifty Open Int Put-Call ratio at 1.39 Vs 1.41
• Nifty Puts add 1.2 lakh, Calls add 4.1 lakh shares in Open Int
• Nifty 5100 Put adds 1.8 lakh shares in Open Int
• Nifty 5200 Put adds 1.6 lakh shares in Open Int
• Nifty 5100 Call adds 1 lakh shares in Open Int