Mkts continue to lose ground; Nifty slips below 2800

RELATED NEWS Asia trading weak; Hang Seng down 3.2% Stock futures shed 3.1 cr shares in Open Interest Mkts likely to meander lower in opening trade: Anagram Nifty has support at 2765-2770: Reliance Money ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

The benchmark indices have witnessed further sell-off following negative Asian markets. This downtrend continues for the second day in a row, after disappointing interim budget yesterday. Realty, metals, infrastructure and banking stocks are under pressure. Broader indices are also following the same trend.

At 10 am, the Nifty went down 50 points, to 2,798 and the Sensex was trading at 9,147, down 159 points. CNX Midcap fell 1%, to 3,364.

Among frontliners, Unitech, DLF, Suzlon Energy, Tata Steel, Reliance Infrastructure, Tata Steel, M&M, SAIL, HDFC Bank, Jaiprakash Associates, SBI, Reliance Industries, Ambuja Cements, Reliance Capital, Power Grid, BHEL and L&T have lost ground.

BSE Realty index tumbled 3.5%. Among others, Metal, Bank, Capital Goods, Oil & Gas, Power and Auto indices fell 1-2%.

Asian markets are trading weak. Hang Seng and Kospi down over 3%. Shanghai was down 0.5%. Taiwan, Nikkei and Straits Times fell 1-2.5%.

US markets were closed yesterday on account of President's day.

Nymex March Crude is trading around USD 37.85 a barrel. Baltic Dry Index was down 3.5% yesterday and had fallen nearly 10% in last 4 days. Copper declined 3% to 1 week lows and Nickel tumbled 1% to 4 week lows, inventories rise 15% in 09.

Market cues:

GM & Chrysler to submit new turnaround plans today showing how they can be made viable after receiving $13.4 bn in emergency aid

US markets closed yesterday on account of President's day; Asian markets slip 2-3%

FIIs net buy USD 5 million in equity on February 13

MFs net buy Rs 172.2 cr in equity on February 13

NSE F&O Open Int down by Rs 1,178 crore to Rs 55,520 crore

F&O cues:

Nifty down 3.4%; Feb Open Int down by 24.6 lakh shares or 7.7%

Total Fut Open Int down by Rs 2,012 cr, Total Options Open Int up by Rs 834 cr

Nifty Feb Fut discount widens to 18 pts versus 2 pts a day ago

Stock Fut shed 3.1 cr shares in Open Int

Nifty Open Int Put-Call ratio down from 1.33 to 1.22

Nifty Calls add 27.5 lakh shares in Open Int; Puts shed 7.5 lakh shares in Open Int

Nifty Feb 2900 Put sheds 9.8 lakh shares in Open Int

Nifty Feb 2800 Put sheds 6.7 lakh shares in Open Int

Nifty Feb 2500 Put adds 7.3 lakh shares in Open Int

Nifty Feb 2800 Call adds 11.1 lakh shares in Open Int

Nifty Feb 3000 Call adds 6.7 lakh shares in Open Int

Nifty Feb 2900 Call adds 6.5 lakh shares in Open Int