Mkts end in red on higher inflation nos, weak global cues

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Markets @ 3:10 pm : Markets crash again on inflation news

The markets have drifted lower again, after showing smart recovery, due to news of an increase in the inflation numbers. It stood at 10.72% for the week ended October 25 as against 10.68% during the earlier week.

Reliance Industries, Bharti Airtel, Infosys, SBI, Tata Steel, Sterlite Industries, ONGC, HDFC Bank, ICICI Bank, HDFC, SAIL and Tata Motors are dragging the frontline indices.

The Sensex lost 421 points to 9,698 and the Nifty fell 113 points to 2,881, at 3:10 pm. BSE Midcap and small cap indices plunged nearly 2%.

In the recent listing, Alkali Metals surged 68% to Rs 173 as against issue price of Rs 103 per share.

On the global front, European markets extended losses. FTSE, CAC and DAX fell around 3% each.

Markets @ 2:30 pm : Sensex tests 10K; BHEL, L&T, ONGC lead

The markets have pulled back from the lows of the day and are trading in the green. The Sensex and Nifty are testing the psychological 10,000 and 3,000 mark respectively. Among the frontliner, BHEL, L&T, and ONGC are heading the leaders pack.

Realty, pharma, capital goods, FMCG and few oil stocks are witnessing buying interest.

The Sensex fell 98 points to 10,021 and the Nifty lost 17 points to 2,977, at 2:30 pm. BSE Midcap and Small Cap indices slipped around 1.5% each.

Market breadth has improved a bit, but still weak; about 1031 shares have advanced while 1922 shares have declined. Nearly 238 shares are unchanged.

Alkalli Metals shot up 50% to Rs 154 as against issue price of Rs 103.

Markets @ 1:51 pm : Mkts plunge; RIL, SAIL, Bharti, SBI, Infy, Tata Steel drag

Benchmark indices are trading sharply lower despite showing some recovery from the lows of the day. Heavyweights are still taking huge beating on the bourses. The Nifty is struggling at around 2,900 level. Major draggers are Reliance Industries, Bharti Airtel, SAIL, SBI, Infosys, Tata Steel, HDFC Bank, Sterlite Industries, HDFC and Tata Motors.

Global markets are dismal. European markets opened lower by 2.5-3% following weak Asian and US markets. Metal, oil, auto, telecom and banking stocks are under pressure.

The Sensex fell 284 points to 9,835 and the Nifty lost 67 points to 2,927 at 1:51 pm. BSE Midcap and Small Cap indices slipped at around 2.5% each.

Among the frontliners, Tata Motors, Tata Steel, Sterlite Industries, Bharti Airtel, Hindalco, Reliance Industries and SAIL tumbled 7-16%.

Ashok Leyland crashed over 10% after its sales numbers announcement. Its October total sales declined to 3,397 units versus 6,825 units (YoY).

However, buying is seen in ITC, HUL, Suzlon Energy, NTPC, GVK Power and IVRCL Infra.

European markets opened on a weak note. FTSE fell 135 points to 4,395. CAC and DAX lost 119 points and 160 points to 3,499 and 5,006, respectively.

The Dow Jones Futures slipped 99 points to 9,076 and the Nasdaq futures lost 30 points to 1,276.

Markets @ 12:48 pm : Nifty struggles at 2,900; metal, oil, telecom, auto dip

Sell-off in telecom, banking, capital goods, metal, auto, power, and oil stocks is putting pressure on markets. The Nifty has been struggling at 2,900 since morning. Asian markets dipped further by 2.5-7.5%.

The Sensex fell 388 points to 9,731 and the Nifty plunged 110 points to 2,883, at 12:48 pm. BSE Midcap and Small Cap indices lost over 2.5%.

Reliance Industries has slipped further by 6.5%, after falling 12.5% on Wednesday. Oil & Gas Index tumbled 4%. Essar Oil lost nearly 7% and ONGC fell 0.8%.

Metal Index plunged over 8%, after announcement of Vedanta numbers. Tata Steel, JSW Steel, Sterlite Industries, Hindalco, Jindal Saw and SAIL lost 9-13%.

Sterlite Industries fell over 13%. Vedanta's revenue for the first half year was up by 2.2% to USD 3.9 billion while its attributable profit declined by 24.7% to USD 350 million. Operating profit was down to USD 1.02 billion versus USD 1.24 billion.

Vedanta has reviewed capex program and can cut investments by USD 5.1 billion. The company may temporarily cut down production at some operations. It will reduce capex by USD 1.5 billion for expansion of Alumina, Aluminium Projects. The company will defer investment of USD 2 billion in the 1980 MW Jharsuguda Power Project.

Telecom stocks like Bharti Airtel crashed 8.5%. Reliance Communication and Idea Cellular fell 3.5-6%.

BSE Bankex went down over 3%. SBI, ICICI Bank and HDFC Bank lost 2.5-5%.

Auto Index sliped over 3.5%. Tata Motors tumbled 12.14%. M&M, Maruti Suzuki and Hero Honda fell 1.4-3.6%.

Market breadth is weak; about 986 shares have advanced while 1962 shares have declined. Nearly 243 shares are unchanged.

Among the Asian markets, Kospi and Hang Seng fell over 7.5%. Nikkei lost 6.5% and Taiwan fell 5.7%. Straits Times and Jakarta slipped over 4%. Shanghai lost 2.6%.

Markets @ 11:35 am

The markets are still witnessing selling pressure on weak global cues along with some bouts of volatility at lower levels. The Nifty is struggling at around 2,900 levels. Reliance Industries, Bharti Airtel, SBI, NTPC, SAIL, HDFC, ICICI Bank, BHEL, Infosys, L&T, Tata Steel, and HDFC Bank are taking a heavy beating on the bourses.

The Sensex declined 266 points to 9,853 and the Nifty lost 71 points to 2,923, at 11:35 am. BSE Midcap and Small cap indices fell over 2% each.

Daryl Guppy, Founder and Director, guppytraders.com, said the relief rally that took place in global markets has stalled and that markets may retest lows. The Sensex may retest levels of 7,500-8,500, and if it goes below that, it may test 6,000, Guppy said, adding that the Nifty could test 2,500, but major support exists only at 2,200.

Tata Steel, Tata Motors, Sterlite Industries, Hindalco, Reliance Industries, Tata Power, SBI, SAIL, Idea Cellular and BPCL plunged 5-10.5%.

However, ONGC, HUL, TCS, GAIL, Sun Pharma, Ranbaxy Labs and Unitech are gainers on the bourses.

Market breadth is in favour of declines; about 991 shares have advanced while 1953 shares have declined. Nearly 247 shares are unchanged.

Among the CNX Midcap stocks, Hotel Leela Jindal Saw, United Phos, Aurobindo Pharma and Anant Raj Inds fell 7-11%.

In the Nifty Junior, JSW Steel, IDFC, United Spirits, IDBI Bank, Bank of India, Jindal Steel and Reliance Capital tumbled 5-11.7%.

Markets @ 10:42 am

The markets are still trading sharply lower, despite showing some recovery from the day's lows. Weak global cues and a 400 points dip in the Dow on poor economic numbers is cited as reason for the gap down. Asian markets are also trading in the red. The Nifty has clawed back above the 2,900 mark. Selling is seen in metal, power, auto, capital goods, banking, and select oil stocks. Midcap and smallcap stocks are also under pressure.

The Sensex lost 234 points to 9885 and the Nifty plunged 61 points to 2,933, at 10:42 am. BSE Midcap and Small Cap indices fell over 2% each.

Market breadth is negative; about 962 shares have advanced while 1990 shares have declined. Nearly 239 shares are unchanged.

Tata Steel, Tata Motors, Tata Power and Sterlite Industries are top losers. However, Ranbaxy Labs, HUL, TCS, GAIL and Suzlon Energy are gainers.

Among the midcap stocks, UTV Software fell over 27%. Simplex Infra, Lakshmi Energy, Panacea Biotech and Aurobindo Pharma lost 8-9.5%.

In the small cap space, Sanwaria Agro, ETC Networks, Bajaj Electrical, Stride Arcolab, PVP Ventures and NRB Bearings plunged 12-15%.

Markets @ 9:56 am : Nifty below 2900; ICICI Bank, Unitech, Bharti lag

Benchmark indices tumbled in early trade following weak sentiment across the globe. US markets crashed due to disappointing economic data and Asian markets lost 2.5-6.8%. Selling is seen in metal, realty, power, banking and capital goods stocks.

At 9:56 am, the Sensex fell 356 points to 9,763 and the Nifty lost 99 points and is at  2,895. CNX Midcap lost 3% to 3,632.

Suzlon Energy, Unitech, ICICI Bank, Bharti Airtel, Tata Steel, SAIL, Tata Motors, DLF and L&T are top losers.

Asian markets are trading sharply lower. Nikkei, Hang Seng, Kospi and Taiwan plunged 5.6-6.7%. Shanghai, Jakarta and Straits Times fell 2.5-4%.

Crude December futures declined to trade around $65 to a barrel on the NYMEX. US supply figures were higher while demand figures lower. Gasoline inventories rose 1.12 million barrels to 196.1 million barrels and distillates were up 1.21 million barrels to 127.8 million barrels.

US fuel demand declined by 6.7% on year-on-year basis to 19.1 million barrels per day. US ISM non Manufacturing and unemploymnet data was worse than expected.

US markets posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern that the economy will worsen even as president-elect Barack Obama tries to stimulate growth. Financials took a major hit.

The Dow tumbled 486.01 points, or 5.05%, to 9,139.27. The S&P 500 index lost 52.98 points, or 5.27%, to 952.77. The Nasdaq composite index declined 98.48 points, or 5.53%, to 1,681.64.

Market cues:

Global markets plunge, led by near 500 points fall in Dow

Asian markets down nearly 5% in early trade

Inflation data today, market buzz of single-digit figure

NSE F&O Open Int down by Rs 539 crore at Rs 46,396 crore

F&O cues:

Stock Futures shed 4.4 crore shares in Open Int

Futures Open Int down by Rs 1,389 crore, Options Open Int up by Rs 850 crore

Nifty Futures add 4.3 lakh shares in Open Int, at 2-pt discount

Nifty Open Int Put-Call ratio at 1.10 versus1.14

Nifty Puts add 6.6 lakh, Calls add 16.2 lakh shares in Open Int

Nifty 3000 Put adds 2.1 lakh shares in Open Int

Nifty 3100 Put adds 1.8 lakh shares in Open Int

Nifty 3200 Call adds 7 lakh shares in Open Int

Nifty 3300 Call adds 3 lakh shares in Open Int