The market continued its downward journey in afternoon trade. The market had opened on a weak note tracking weak global markets. The S&P; CNX Nifty fell below 6,000 and Sensex fell below 20,000 in early trade. Metal, banking, realty and power stocks declined. FMCG stocks edged higher. Reliance Industries declined further. Market breadth was strong.

Asian markets which opened before Indian markets were trading lower today. US stocks slumped on Friday, 14 December 2007, on concerns surging inflation may prevent the Federal Reserve from lowering interest rates.

At 13:17 IST, the 30-share BSE Sensex was down 316.92 points or 1.5% to 19,7113.91. It hit a low of 19,700.76 so far during the day. At days low Sensex lost 330.07 points.

The S&P; CNX Nifty declined 127.05 points or 2.1% to 5,920.65.

Market breadth was strong. On BSE, 1,884 stocks advanced, 965 stocks declined and 28 stocks remained unchanged. 24 out of 30 stocks from the Sensex pack declined.

BSE Mid-Cap index declined 0.18% to 9,455.20. It hit all time high of 9,541.03 today. BSE Small-Cap index rose 1.14% to 12,334.25. It hit a record high of 12,402.86 today.

Indias largest private sector firm by market capitalization & oil refiner Reliance Industries declined 1.77% to Rs 2,838.

Reliance Communications declined 1.88% to Rs 745.65 after the company today said it has completed the acquisition of US-based Yipes Holdings that would give the company access to a Rs 4,00,000 crore global enterprise data market.

Metal stocks slumped. Tata Steel (down 1.26% to Rs 866.75), Sterlite Industries (down 3.97% to Rs 1,024), National Aluminium Company (down 3.2% to Rs 434.95), Steel Authority of India (down 2.38% to Rs 273.25) and Hindalco industries (down 3.69% to Rs 204.90) edged lower.

Banking stocks declined. ICICI Bank (down 1.06% to Rs 1,194), HDFC Bank (down 3.71% to Rs 1,664.50) and State Bank of India (down 2.01% to Rs 2,362.15) edged lower.

Power stocks declined. Reliance Energy (down 1.23% to Rs 1,886), NTPC (down 2.78% to Rs 239.75), Tata Power Company (down 0.07% to Rs 1,298.20) and Power Grid corporation (down 2.71% to Rs 141.70) edged lower.

FMCG majors rose. ITC (up 1.62% to Rs 203.85) and Hindustan Unilever (up 0.92% to 219) edged higher.

Realty stocks declined. Peninsula Land (down 5.49% to Rs 139.50) , DLF (down 1.49% to Rs 1,005.90), Indiabulls Real Estate (down 6.95% to Rs 688.95) and Unitech (down 1.82% to Rs 469.65) edged lower.

Cipla (up 1.84% to Rs 213), Infosys (up 0.23% to Rs 1,651.65), Ambuja Cements (up 0.54% to Rs 150.25) edged higher.

Bharti Airtel (down 4.57% to Rs 909), ONGC (down 4.59% to Rs 1,182) and Tata Motors (down 3.46% to Rs 718.70) edged lower.

Petron Engineering Construction rose 6.86% to Rs 402 after it received two construction orders for power plant units, totally worth Rs 98.90 crore.

Phoenix Lamps rose 6.66% to Rs 213.05 on reports the firm is close to striking multiple buyout deals in India and aboard and one of the targets is belived to be the lighting business fo Surya Roshni

Real estate firm Phoenix Mills rose 0.66% to Rs 2,587.65 after it said on Friday its board would meet on 19 December 2007 to consider stock split.

Asian markets were trading lower today, 14 December 2007. Hong Kong's Hang Seng (down 3.57% at 26,580.38), Taiwan's Taiwan Weighted (down 3.54% at 7,830.85), Singapore's Straits Times (down 2.43% at 3,382.29), Shanghai Composite (down 2.53% to 4,881.40), Japan's Nikkei (down 1.71% to 15,249.79), South Korea's Seoul Composite (down 2.91% at 1,839.82) declined.

US stocks swooned on Friday, 14 December 2007, on concerns that surging inflation may prevent the Federal Reserve from lowering interest rates enough to pull the economy out of the grip of a housing and credit crisis. The three major indexes tumbled more than 1% each, and posted their worst week since 11 November 2007, after a report showing a jump in the consumer price index in November 2007.

Meanwhile, the advance tax figures, which will available this week, would trigger expectations regarding corporate performance of India Inc. in Q3 December 2007.

Bharatiya Janata Party (BJP) is poised to retain power in Gujarat but with a reduced majority losing some ground in Sunday (16 December 2007)'s second and final phase of polls in northern and central parts which was worst hit by 2002 communal riots, according to exit polls by four TV channels.

As per provisional data, FIIs sold shares worth a net Rs 647.10 crore on Friday, 14 December 2007. Domestic institutional investors bought shares worth a net Rs 105.18 crore on that day.

FIIs were net sellers of index futures worth Rs 1359.88 crore on Friday. They were net sellers to the tune of Rs 50.63 crore in index options on that day. FIIs net sold stock futures to the tune of Rs 785.05 crore. They net sold individual stock options to the tune of Rs 10.71 crore.

The 30-share BSE Sensex declined 73.56 points or 0.37% to 20,030.83 on Friday. The S&P; CNX Nifty declined 10.4 points or 0.17% to 6,047.70 on that day.

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