Mumbai: The markets have slipped in early trade and continue to fall for the third consecutive day, following weak global cues. Selling is seen in auto, realty, metal, oil, and select technology stocks.
At 9:56 am, the Sensex fell 74 points to 9,612 and the Nifty lost 15 points to 2,953. CNX Midcap 100 tumbled 0.55 to 3,649.
Among the frontliners, Tata Motors, SAIL, Tata Steel, Sterlite Industries, Maruti, M&M, DLF, ONGC and Reliance Industries are losers.
Unitech lost 6%, as the company is looking to sell 26-40% equity at Rs 60-65/sh, as per sources.
Satyam crashed another 14%, after World Bank admitted to debarring Satyam for 8-years due to data theft.
However, Wipro surged nearly 3%, as the company will buy Citi's India tech arm for $127 million in cash and deal to close by March 09.
Punj Lloyd gained over 1% as the company bagged Rs 304 crore worth of Common wealth Games order from Delhi Government.
Asian markets are trading mixed. Nikkei (was closed on Tuesday) and Kospi fell 2.3-2.5%. Shanghai, Hang Seng and Taiwan lost 0.2-0.7%. However, Straits Times gained 1.1% and Jakarta rose 0.35%.
NYMEX February crude declined 2.5% yesterday. It is currently trading at 4-year low at USD 39 per barrel. Nymex will close trade early today ahead of Christmas eve.
US markets ended lower after concerns on the future of the big 3 US auto majors continued to hover. General Motors shares tumbled 15% after Standard & Poor's ratings services and Moody's investor’s service downgraded ratings on Chrysler and Ford Motors.
In economic data, the Commerce Department held its estimate at -0.5% for Q3 GDP, the expectations were unrevised. New home sales slowed to the slowest pace since 1991.
The Dow Jones plunged 100.28 points, or 1.18%, to 8,419.49. The S&P 500 index shed 8.47 points, or 0.97%, to 863.16. The Nasdaq composite index slipped 10.81 points, or 0.71%, to 1,521.54.
Market cues:
FIIs net sell USD 55.6 million in equity on December 22
MFs net buy Rs 163.2 crore in equity on December 22
F&O Open Int down by Rs 1,061 crore to Rs 62,569 crore
Total Futures Open Int down by Rs 1,375 crore to Rs 30,002 crore
F&O cues:
Marketwide rollover 55% versus 40% a day ago
Nifty rollovers 53% versus 40% a day ago
Nifty down 2.3%, Nifty Futures Open Int down by 12.3 lakh shares
Nifty Jan shed 61.5 lakh shares & Jan Futures add 49 lakh shares in Open Int
Nifty Dec Futures trade at 5 pts premium; Jan Futures trade at 19 pts premium
Stock Futures shed 26.5 lakh shares in Open Int
Nifty Open Int Put-Call ratio down from 1.47 to 1.37
Nifty Put shed 7.8 lakh shares, call add 18.7 lakh shares in Open Int
Dec 3000 Put shed 11.5 lakh shares in Open Int
Jan 3000 Put add 5.7 lakh shares in Open Int
Jan 3100 Put add 4.5 lakh shares in Open Int
Jan 3100 Call add 3.3 lakh shares in Open Int
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