Mumbai: Markets have opened lower following weak global cues as credit crisis is still lingering in US financial space. Selling is seen in auto, banking, power and capital goods stocks. However, buying continued in technology stocks as rupee weakened against US dollar, closed at 43.59 a dollar in yesterdays trade.
At 9:57 hrs IST, the Sensex declined 113 points at 14,532 and Nifty is down 28 points at 4,365.
Amongst frontliners, Wipro, Maruti, Sterlite, Hindalco, Reliance Petro and Unitech have lost ground while Ambuja Cements, TCS, Cipla, Infosys and Sun Pharma have gained.
Asian markets were trading lower. Hang Seng, Jakarta, Nikkei, Straits Times and Taiwan fell 0.5-2 per cent.
US markets ended sharply lower on the back of renewed credit concerns. There is growing speculation that government will bail out Fannie Mae and Freddie Mac. Financials lost the plot, Fannie and Freddie closed way down below. The Dow plunged 180.51 points, or 1.55 per cent, to 11,479.39. The S&P 500 index lost 19.60 points, or 1.51 per cent, to 1,278.60, and the Nasdaq declined 35.54 points, or 1.45 per cent, to 2,416.98.
Market cues:
* FIIs net sell $98.2 mn in equity
* MFs net sell Rs 418.8 crore in equity
* NSE F&O Open Int up by Rs 625 crore at Rs 77,281 crore
F&O cues:
* Nifty down 0.85 per cent; Open Int up 2.4 per cent
* Futures Open Int down by Rs 289 crore, Options Open Int up by Rs 336 crore
* Nifty Futures add 8.3 lakh shares in Open Int, at 16.2 pts Vs 7-pts premium
* Delivery based selling led to higher premium
* Stock futures add 1.57 cr shares in Open Int, out of which 36 lakh shares in Aug series
* Nifty Open Int PCR at 1.14 Vs1.15
* Nifty Puts add 1.28 lakh; Calls add 4.36 lakh shares in Open Int
* Nifty 4400 Call add 5.2 lakh shares in Open Int
* Nifty 4000 Put add 3.7 lakh shares in Open Int
* Nifty 4500 Put shed 2.9 lakh shares in Open Int
* Nifty 4700 Call shed 2 lakh shares in Open Int
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