Huge sell off on Dalal Street; breadth collapses

The markets have recovered over 100 points from its morning lows but are still down in deep red on account of huge sell off. Breadth has also collapsed badly with advance decline ratio at nearly 1:9.

All the Sensex and Nifty stocks are in red and all the key indices are trading with deep cut. Some significant stocks which are trading in green are Nagarjuna Fertilisers, Polaris, UCO Bank, Torrent Power and Prism Cement.

Banking, metal and realty index are still leading the losers pack and are trading with over 4% cut each.

At 11.37 am, the Sensex is down 508.82 points or 3.39% at 14492.09, and the Nifty down 158.90 points or 3.64% at 4211.30. About 1114 shares have advanced, 1808 shares declined, and 78 shares are unchanged.

Top losers on the Sensex are Tata Steel at Rs 601.95 down 6.19%, Bharti Airtel at Rs 812.00 down 5.33% and ICICI Bank at Rs 832.10 down 5.19%. 

Most active shares on BSE are Nicholas Pirama at Rs 258 with 3,761,589 shares, Reliance at Rs 1,746.50 with 311,987 shares and Reliance Comm at Rs 500.30 with 628,358 shares.

Mkts still in deep pain; banking, metal stocks tumble

The markets continue to trade in deep pain in line its Asian peers. All the BSE key indices are in deep red ranging between 2-5%. Banking, relaty and metal stocks are the worst hit space today.

The market breadth is negative and the volume is lower today. Rupee has depreciated little bit and is trading at 41.11 against dollar. Nifty Aug future is trading with 40.55 discount at 4158.36.

At 10.38 am, the Sensex is down 573.42 points or 3.82% at 14427.49, and the Nifty down 172.05 points or 3.94% at 4198.15. About 1014 shares have advanced, 1903 shares declined, and 83 shares are unchanged.

Top losers on the Sensex are Bharti Airtel at Rs 803.80 down 6.29%, ICICI Bank at Rs 824.95 down 6% and Tata Steel at Rs 607.80 down 5.28%.

Top losers on the Nifty are Sterlite Ind at Rs 560 down 8.05%, VSNL at Rs 389.80 down 6.48% and ICICI Bank at Rs 822.75 down 6.36%.  
 
Most active shares on BSE are Nicholas Pirama at Rs 258 with 3,761,589 shares, Reliance at Rs 1,746.50 with 311,987 shares and Reliance Comm at Rs 500.30 with 628,358 shares.

BSE bankex was down over 4.78% at 7471.51. Major gainers in this space were ICICI bank, Union bank, Bank of India, SBI and PNB.

BSE metal index was down 536.33 points at 10480.30. major gainers in the metal sector were Sterlite Industries, Tata Steel, JSW Steel and Hind Zinc.

Mkts butchered in opening trade; Sensex down over 600 pts

Bears once again flexed their muscles on the back of ongoing subprime issues leading to panic opening in markets today. The markets opened with huge cuts in line with global peers. All the Asian markets are trading in deep red led by KOSPI. 

At 9:56 am, Sensex was down 616 points at 14384 and Nifty was down 189 points at 4195. Major gainers in the opening trade were Tata Steel, Bajaj Auto, ICICI bank, SBI. Bharti, Reliance, Rel Comm, Hindalco, NTPC, Tata Motors, ITC, HDFC bank and Dabur.

IVR Prime got listed on the exchanges today at Rs 475 versus its issue price of Rs 550.  

Asian markets: Asian indices slid today as investors concerned over the health of global credit markets continued to sell stocks across the board. Hong Kong's Hang Seng tumbled 3% or 640.40 points at 20,735.32, Japan's Nikkei plunged 2.60% or 428.15 points at 16,047.46, Taiwan's Taiwan Weighted slipped 3.59% or 308.75 points at 8,284.29, Singapore's Straits Times fell 3.96% or 129.66 points at 3,143.59 and South Korea's Seoul Composite declined 6.24% or 113.24 points at 1,704.48.

US markets: The Dow fell 167.45 points, or 1.29%, to 12,861.47, closing below 13,000 for the first time since April 24 and continuing a weeks-long pattern of triple-digit moves. Broader stock indicators also fell. The S&P 500 index dropped 19.84 points, or 1.39%, to 1,406.70. The Nasdaq composite index lost 40.29 points, or 1.61%, to 2,458.83.

Market cues:

• FIIs net sell USD 128.70 mn in equity on Aug 13
• MFs net buy Rs 22.80 crore (Rs 228 million) in equity on Aug 13
• NSE F&O Open Interest up by Rs 721 crore (Rs 7.21 billion) at Rs 85540 crore (Rs 855.40 billion)

F&O cues:

• Futures Open Interest up by Rs 91 crore (Rs 910 million), Options Open Interest up Rs 630 crore (Rs 6.30 billion)
• Nifty Aug Futures shed 4 lakh shares in Open Interest
• Nifty Aug Futures discount at 23.5 points
• Nifty Open Interest Put-Call ratio at 1.29 Vs 1.28 on Monday
• Nifty Puts add 6.32 lakh shares in Open Interest
• Nifty Calls add 3.80 lakh shares in Open Interest
• Nifty 4300 Put adds 3.62 lakh shares in Open Interest
• Nifty 4400 Call add 2.31 lakh shares in Open Interest