Mkts show smart recovery; end on a flat note

It was a dramatic day for markets as they opened in red slipped further but showed smart recovery towards the end of the day. Recovery was led by PSU bank, metal, oil stocks. Hang Seng showed recovery of 600 points and ended in green up 200 points. Sensex has recovered nearly 550 points from the day's low and Nifty has recovered 170 points.

Mkt show smart recovery: Cap goods down; bank up

The markets are trading flat and have shown significant recovery from the morning lows. Frontliners from select PSU bank, metal, telecom and oil & gas stocks are leading the recovery. Hang Seng showed recovery of 400 points and ended in green. Sensex has recovered nearly 400 points from the day's low and Nifty has recovered 120 points.

Mkts show smart recovery: Sensex above 15,800

The markets have shown significant recovery from the morning lows. Frontliners from select PSU bank and metal sector are leading the recovery. Hang Seng showed a recovery of 400 points which is positive for the markets. Sensex has recovered nearly 400 points from the day's low and Nifty has recovered 120 points.

The cues from US were weak as Dow slipped below 12,000, after Fed action to stem the credit crunch failed to offset the damage from February job losses seen as the most blatant sign yet of recession.

At 13.49 hrs IST, the Sensex is down 129 points at 15845 and the Nifty down  2.35 points at 4,768

About 499 shares have advanced, 2487 shares declined, and 62 shares are unchanged.

Among the few gainers were Bharti, JP Associate, M&M, Cairn India and HCL Tech.

SBI, PNB are trading in positive terrain. Heavyweight ONGC is also helping in the recovery.

Punj Loyd, HCC, GMR Infra are the midcap stocks are trading in green.

Indiabulls, Parsvnath and Kolte Patil are among the top real estate losers on the indices.

Selling pressure across the sectors like capital goods, power and realty. Broader markets are still deep in red. Both the midcap and smallcap are down 3% each.

L&T might book hedging losses in UAE arm has taken the stock down over 10% followed by BHEL down nearly 10%. The other laggards are Unitech, Dr Reddy's Labs, Tata Power, Reliance Energy, Siemens, Tata Motors, Wipro, ABB and ICICI Bank. 

Mkts still in red but off lows: Midcaps, cap goods down

The markets are still reeling under pressure but are significantly off the morning lows. Hang Seng showed a recovery of 400 points which is positive for the markets. Sensex has recovered nearly 300 points from the day's low and Nifty has recovered 100 points. The cues from US were weak as Dow slipped below 12,000, after Fed action to stem the credit crunch failed to offset the damage from February job losses seen as the most blatant sign yet of recession.

Mkts trade in deep red: L&T, BHEL, Rel Energy down

The markets are trading deep in red on sustained selling pressure in scrips across sectors. Most of the Asian markets are trading lower. The cues from US were weak as Dow slipped below 12,000, after Fed action to stem the credit crunch failed to offset the damage from February job losses seen as the most blatant sign yet of recession.

Heavy selling pressure across the sectors like capital goods, banking, power and realty. Broader markets have taken it on their chin. Both the midcap and smallcap are down over 5% each. All BSE indices are trading in the red. Market breadth is negative.

L&T might book hedging losses in UAE arm has taken the stock down over 10% followed by BHEL down nearly 10%. The other laggards are Unitech, Dr Reddy's Labs, Tata Power, Reliance Energy, Siemens, Tata Motors, Wipro, ABB and ICICI Bank. 

Among the few gainers were Bharti, JP Associate, M&M, Cairn India and HCL Tech.

Mkts plunge in opening trade on weak global cues

The markets have opened lower mirroring weak cues across the globe and with heavy selling pressure across the sectors like capital goods, banking, power and realty. All BSE indices are trading in the red. Market breadth is negative in morning trade.

At 9:57 am, the Sensex was down 376 points at 15,598 and the Nifty down 119 points at 4,652.

Losers in largecaps are L&T (biggest loser on bourses), Unitech, Dr Reddy's Labs, Tata Power, Reliance Energy, Siemens, Tata Motors, Wipro, ABB and ICICI Bank. 

Rupee is trading at around 40.64 per dollar, Nymex crude at USD 104.91 per barrel.

Asian markets were tarding lower. Hong Kong's Hang Seng was down 1.41% or 318.25 points at 22,183.08. Japan's Nikkei plunged 1.74% or 222.81 points at 12,559.99. Taiwan's Taiwan Weighted declined 2.66% or 227.10 points at 8,304.28. Singapore's Straits Times fell 2.06% or 58.94 points at 2,807.34. South Korea's Seoul Composite tumbled 1.86% or 30.97 points at 1,633.

The US markets on Friday, were hammered yet again, pushing the Dow below the key psychological level of 12,000, after fed action to stem the credit crunch failed to offset the damage from February job losses seen as the most blatant sign yet of recession. The Dow Jones ended 147 points down to close at 11,894, the Nasdaq ended 8 points lower to shut shop at 2,212, the S&P 500 closed down 10.97 points at 1,293.37.

Market cues

• FIIs net sell $ 32.1 m in equity
• MFs net sell Rs 280 cr in equity
• NSE F&O Open Interest down by Rs 242 crore at Rs 64,889 crore

F&O cues

• Futures Open Interest down by Rs 1,518 crore and Options Open Interest up by Rs 1,276 crore
• Nifty Futures add 13.8 lakh shares in Open Interest, at 45-point discount
• Nifty Open Interest Put-Call ratio at 1.06 Vs 1.19
• Nifty Puts add 5.3 lakh shares in Open Interest
• Nifty Calls add 17.7 lakh shares in Open Interest
• Nifty 4700 Put adds 4.6 lakh shares in Open Interest
• Nifty 4600 Put adds 2.2 lakh shares in Open Interest
• Nifty 4900 Call adds 5.2 lakh shares in Open Interest
• Nifty 4700 Call adds 4.7 lakh shares in Open Interest
• Stock Futures shed 1.4 cr shares in Open Interest