Sensex down by 224 pts, Nifty down by 59 pts

Market slipped from days high on sub-prime concerns emanating from Europe. Sensex was down by 224 points at 15084, down by 458 points from days high of 15542. Nifty was down by 59 points at 4403, down by over 127 points from days high of 4530. CNX Midcap Index was down by 2% while BSE Small-cap Index was down by 1.07%.

All the BSE Sectoral indices ended in the red. BSE Oil & Gas Index was down by 2%, the losers were ONGC, down by 2.5% and RIL, down by 1.6%. BSE IT Index was down by 1.77%, the losers were Satyam, down 2.5% and Infosys, down by 1.7%. BSE Bank Index was down by 1.4%, the losers were SBI, down by 3.3% and HDFC, down by 2.54%. Index Losers were Hindalco, down by 3.5%, VSNL, down by 3.2% and Reliance Energy, down by 3.1%. Stand out performers in large caps were BHEL, SAIL, DRL and Lanco, Orbit in mid-cap stocks.

Omaxe listed on the bourses today. It closed at Rs 352.25 vs the listing price of Rs 400 (Issue price at Rs 310). NSE Advance Decline ratio stood at 1:3. Total market turnover stood at Rs 73255.29 crore vs Rs 56926.72 crore on Wednesday. The rupee appreciated by 4 bps (2 paisa) at 40.515 (hit intra-day low of 40.5225). Yen appreciated by 77 bps at 118.74 (intra-day low of 119.78).

F&O Snapshot
Nifty futures discount was at 48 points, added 46.5 lakh shares in OI. Nifty futures turnover stood at nearly 35% of total FNO turnover. Unwinding pressure was seen in the financial stocks, real estate and infrastructure stocks. Fresh shorts were seen in energy & capital good stocks, metal, technology and FMCG stocks. Short covering was seen in Lanco, Cipla and Educomp Solutions.

Unwinding Pressures was seen in the Financial stocks like SBI, IFCI, Indian Bank, UBI, IndusInd Bank, IDBI; Real Estate/ Infra stocks like DLF, HDIL, Unitech & Parsvnath; Telecom stocks like Reliance Communication and Tata Teleservices Maharashtra and Energy stocks like NTPC, PFC and RNRL.

Fresh Shorts were seen in Energy/ Capital Goods stocks like RIL, RPL, Petronet LNG, Neyveli Lignite, Punj Lloyd and JP Hydro; Metal stocks like SAIL, Tata Steel, and Hindalco; Technology stocks like TCS, Wipro and HCL Tech; Banking stocks like Vijaya Bank, BoB, BoI and Allahabad Bank and FMCG & other stocks like ITC, HUL, Reliance Capital and GMR Infra.

New 52-Week High
Orbit
Lanco Infratech
ICSA
Greenply Industries
Era Construction
HDFC
NTPC

BNP Paribas Jitters
BNP Paribas stops redemptions of 3 asset backed funds on US subprime losses due to this European markets saw downturn. BNP Paribas SA, France's biggest bank stock was down by 2.43%. Commerzbank AG, Germany's second- largest bank stock was down by 4.76% and Deutsche Bank AG stock was down by 1.97%.