Global markets plunged on credit market concerns. Net buy by the FIIs in equity were $ 47.1 million while net buy in equity by Mutual Funds were Rs 377.3 crore on Aug 8. NSE F&O OI was down Rs 1,087 crore at Rs 83,611 crore.

In US, Dow saw the biggest fall since Feb 27, 2007 and was down by 387 points at 13270.7 while Nasdaq was down by 57 points at 2556.5. All the NYSE sectoral indices ended in the red. NYSE financial sector hit the most and was down by 3.52%. US 10-year yield was at 4.75%. CBOE Volatility Index was up 23.5% at 26.48, rises to 4-year high.

In Asian markets, Asian stocks slipped on US cues. Kospi, Straits Times, Hang Seng and Taiwan were down by over 3% each. In Emerging Markets, Brazil was down by 3.7% while Russia was down by 2.4%. Yen appreciated by 1.35% to 118.06/$. Treasuries rose as subprime concern spurs demand for safe haven. Crude oil was priced at $ 71.54/bbl.

Credit market concerns:
Central Bank Intervention: ECB loaned 0 billionn; said it would provide unlimited cash. US Federal Reserve loaned $ 24 billion. Bank of Japan added $ 8.5 billion while Reserve Bank of Australia loaned $ 4.2 billion.

Countrywide Financial says that the unprecedented disruptions may hurt profits.