The market came off lower level in the mid-afternoon trade. Yet, the key indices were down sharply. The market sentiment was hit by dismal debut of Reliance Power and weak global markets.

All the sectoral indices on BSE, barring IT index, were in the red. 26 out of 30 stocks from the Sensex pack were in the red. The market breadth was weak. European markets, which opened after Indian markets, were subdued in early trade. Asian markets, which opened before Indian markets, were trading lower.

At 14:20 IST, the 30-share BSE Sensex was down 609.02 points or 3.49% at 16,855.87. Sensex shed 1007.15 points at the day's low of 16,457.74, hit in afternoon trade.

The Sensex shed 3.71% in last three trading session to 17464.89 on Friday, 8 February 2007 from 18139.49 on Wednesday 6 February 2007.

The broader CNX S&P; Nifty was down 192.80 points or 3.77% at 4927.55.

The BSE Mid-Cap index was down 4.68% at 7,275.69, while the BSE Small-Cap was down 4.66% at 9,457.65.

The market breadth was poor: On BSE 217 advanced as compared to 2433 that declined. 32 stocks remained unchanged.

Anil Dhirubhai Ambani Group firm Reliance Power was trading at Rs 401.40 on BSE, a discount of 10.80% over IPO price of Rs 450. It debuted at Rs 547.80, a premium of Rs 21.73% from the IPO price. Volumes in the stock were high. On BSE, 4.90 crore shares changed hands in the counter.

Market men had initially expected the price to double on debut, but stock market turmoil had lowered investor risk appetite and expectations were toned down subsequently with market men expecting a premium of about Rs 75-to Rs 150 above the IPO price on debut. The Reliance Power IPO was subscribed 73 times.

India's largest private sector firm by market capitalization and oil refiner Reliance Industries fell 4.99% at Rs 2301.

Indias biggest private sector firm by assets ICICI Bank fell 4.75% to Rs 1017.

Among the other Sensex losers, Reliance Energy slumped 14.94% to Rs 1670, Mahindra & Mahindra slipped 7.06% to Rs 599.40, Housing Development Finance Corporation (HDFC) skid 7.09% to Rs 2598, State Bank of India dropped 6.32% to Rs 2058, and Reliance Communication fell 5.31% to Rs 611.

Among the Sensex gainers, Satyam Computer jumped 3.06% to Rs 422.55, TCS moved up 2.56% to Rs 923, Infosys Technologies gained 1.03% to Rs 1567.40 and Bharti Airtel inched up 0.33% to Rs 884.90.

The BSE Capital Goods index was down 4.63% at 15,124.22. Lakshmi Machine Works slumped 7% to Rs 1,949, BEML slipped 6.46% to Rs 1260, Bharat Heavy Electricals dropped 6.40% to Rs 1680, Punj Lloyd fell 6.12% to Rs 345.05 and Larsen & Toubro fell 4.69% to Rs 3362.

The BSE Metal index was down 4.89% at 14,375.99. Welspun Gujarat Stahl Rohren slumped 10% to Rs 385.30, Bhushan Steel slippped 9.78% to Rs 899.90, Ispat Industries skid 9.28% to Rs 40.55, Jindal Steel and Power declined 8.82% to Rs 2074 and Steel Authority of India fell 6.93% to Rs 186.70.

The BSE PSU index was down 5.88% at 7,789.14. Gail India slipped 9% to Rs 385.70, UCO Bank dropped 8.42% to Rs 51.10, Indian Oil Corporation slipped 7.89% to Rs 475, ONGC skid 7.76% to Rs 919.90, Bank of Baroda gave away 7.56% to Rs 356.90 and Jammu 7 Kashmir Bank fell 7.54% to Rs 663.

In Europe, key benchmark indices in UK, France and Germany were down by 0.37% to 0.68%.

Asian markets were trading lower today, 11 February 2008. Key indices in Hong Kong, Singapore and South Korea were down by 2.44%% to 3.64%. Stock markets in Japan, China, and Taiwan were closed.

US markets settled on a mixed note on Friday, 8 February 2008. The Dow Jones industrial average closed down 64.87 points, or 0.53%, at 12,182.13 on Friday. The Nasdaq Composite index rose 11.82 points to 2,304.85. The S&P; 500 index slipped 5.62 points to 1,331.29.

As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 797.25 crore on Friday, 8 February 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 192.98 crore on that day.

FIIs were net buyers to the tune of Rs 617.07 crore in the futures & options segment on Friday, 8 February 2008. They were net sellers of index futures to the tune of Rs 170.28 crore and bought index options worth Rs 235.52 crore. They were net sellers of stock futures to the tune of Rs 553.24 crore and sold stock options worth Rs 1.40 crore.

Annual inflation based on the wholesale price index rose 4.11% in the week ended 26 January 2008 from 3.93% in the week ended 19 January 2008, government data released on Friday, 8 February 2008 showed.

Crude oil rose nearly $1 a barrel today, 11 February 2008 as Venezuela threatened to halt oil exports to the United States and bomb alerts shut down one of Britain's largest gas fields. US light crude for March delivery rose as high as $92.71 a barrel. London Brent crude rose 66 cents to $92.60.

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