Markets slid in opening trade, in line with the other Asian markets, but recovered from day's low led by selective FMCG and Banking stocks. At the end of the day, Sensex was down 213 points at 14925, recovering 220 points from days low of 14705. The Nifty was down 62 points at 4339.5, recovering 72 points from days low of 4267.1.

BSE Realty Index was down 3%, DLF was down 3.5%, Unitech was down 3.1% and HDIL was down 5.5%. BSE IT Index was down 2.2%, Wipro down 2.7%, Infosys was down 2.6%, Satyam was down 2.3%. The BSE Capital Goods Index was down 1.6%, Suzlon was down 3.75%, L&T was down 2.85%, BHEL was down 2.65%.

Among the Index Losers, VSNL was the highest loser, down 5.25%. Hindalco was down 3.1%, ICICI Bank was down 3.12%. Among the Index Gainers, Nalco was up 3.16%, SBI was up 2.8% and ITC was up 1.65%. The new listing-Alpa Labs closed at Rs 55.15 vs listing price of Rs 65 (Issue price at Rs 68). NSE Advance Decline ratio was at 2:5.
Total market turnover was at Rs 50869.02 crore vs Rs 47290.52 crore on Friday.

Currency Movement
Rupee depreciated by 21 bps (9 paisa) at 40.415

F&O Snapshot
Nifty futures discount was at 30-32 points (did see discount narrowing to 25 points during last half an hour). Nifty Futures added 42 lakh shares in OI. Fresh shorts were seen in realty/ infra stocks like HDIL, DLF, IVRCL Infra, Unitech and Sobha. Fresh shorts were also seen in mid-cap tech stocks like Patni, Mphasis, Polaris and Rolta. Fresh longs were seen in SBI, ITC, IFCI. Unwinding of long positions was seen in IDBI, Arvind Mills, Hindalco, Divi’s Lab etc.

Fresh Longs
IFCI up 5.4%; add 1.3 cr shares in OI
SBI up 3.4%; add 6.7 lakh shares in OI
India Cement up 3.7%; add 9.7 lakh shares in OI
ITC up 1.3%; add 7.3 lakh shares in OI

Short Covering
Nagarjuna Fert up 3.9%; cut 7 lakh shares in OI
Sterlite Optical up 4.4%; cut 80 thousand shares in OI

Some Biggies
RIL down 1%; add 43 thousand shares in OI
Rel Cap down 1.5%; add 2.2 lakh shares in OI
R Comm down 2%; add 18.5 lakh shares in OI
Rel Energy down 1%; add 1.7 lakh shares in OI
L&T down 2.3%; add 2.7 lakh shares in OI
ICICI Bank down 3.1%; add 9.2 lakh shares in OI

52-Week High
Orbit Corp
Prism Cement
Indo-tech
Genus Overseas
Sunil Hitech

Global Markets
Straits down 3.7%, Jakarta down 3.5%, Hang Seng down 2.7%, Thailand down 2.6%, Shanghai Index up 1.48%