Local benchmark indices are likely to remain range-bound today, 20 August 2008 amid mixed global cues. However high intra-day volatility cannot be ruled out.

On the New York Mercantile Exchange, September crude rose $1.66 at $114.53 yesterday, 19 August 2008 as the dollar weakened, prompting investors to buy into commodities.

Asian markets were trading mixed today, 20 August 2008. China's Shanghai Composite was down 0.93% or 21.90 points at 2,322.56, Japan's Nikkei slipped 0.28% or 36.51 points at 12,828.54, Taiwan's Taiwan Weighted fell 0.80% or 56.03 points at 6,922.57 and South Korea's Seoul Composite lost 0.53% or 8.12 points at 1,533.29. However, Hong Kong's Hang Seng was up 0.19% or 38.22 points at 20,522.59 and Singapore's Straits Times advanced 0.18% or 5.04 points at 2,733.43.

US markets declined for a second straight day yesterday, 20 August 2008, as an inflation report agitated a market already rattled by worries about the financial sector. The Dow Jones industrial average plunged 130.84 points, or 1.14%, to 11,348.55. The S&P 500 index lost 11.90 points, or 0.93%, to 1,266.70, and the Nasdaq Composite index slipped 32.62 points, or 1.35%, to 2,384.36.

Back home, fears of more losses from the US mortgage crisis globally hit domestic bourses yesterday, 19 August 2008. The BSE 30-share Sensex lost 101.93 points or 0.7% to 14,543.73 and the S&P CNX Nifty was down 24.8 points or 0.56% to 4,368.25, on that day.

The BSE Sensex is down 5,743.26 points or 28.31% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,663.04 points or 31.41% away from its all-time high of 21,206.77 struck on 10 January 2008.

Foreign institutional investors (FIIs) were net equity sellers worth Rs 716.35 crore while mutual funds purchased shares worth Rs 14.56 crore on Tuesday, 19 August 2008, according to provisional data on NSE.

FIIs were net sellers of Rs 974.84 crore in the futures & options segment on Tuesday, 19 August 2008. They were net sellers of index futures to the tune of Rs 1188.29 crore and purchased index options worth Rs 504.66 crore. They were net sellers of stock futures to the tune of Rs 328.63 crore and bought stock options worth Rs 37.43 crore.

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