Market open lower

Weakness in global markets spilled over to the Indian markets. The
30-share BSE Sensex opened 273.54 points lower. Stocks across the
globe declined on concerns that the US Federal Reserve's $700
billion bailout plan may not revive the economy. Firmness in crude
oil prices rekindle inflation worries and added to the negative
sentiment.




Crude oil prices soared to an intra-day high of $130 a barrel on
Monday, 22 September 2008 before easing in a rally sparked by the
expiry of the front-month futures contract and weakness in the US
dollar. US light crude for November delivery was down 42 cents at
$108.95 a barrel.

Asian markets, which open before Indian markets, were mixed. Key
indices in China, Hong Kong and Singapore were down by 0.96% to
2.68%. However, key indices in Taiwan and South Korea were up by
0.21% to 0.96%. Japanese financial markets were closed today for
Autumnal Equinox Day, a national holiday.

US markets witnessed a sell off on Monday, 22 September 2008 on
worries about the government's ability to bailout the financial
system. The Dow plunged 372.75 points, or 3.27%, to 11,015.69. The
S&P 500 index slipped 47.99 points, or 3.82%, to 1,207.09, and the
Nasdaq Composite index was down 94.92 points, or 4.17%, to
2,178.98.




At 10:20 IST, the BSE 30-share Sensex was down 154.76 points or
1.11% to 13,840.20. The index shed 273.54 points at the day's low
of 13,721.42, hit in the onset of trading session. The Sensex fell
115.9 points at day's high of 13,879.06, hit in early trade.

The S&P CNX Nifty was down 42.05 points or 1% to 4181.

The BSE Mid-Cap index was up 0.61% at 5,189.11 and the BSE
Small-Cap index was down 0.72% at 6,149.77.

The market breadth was weak on BSE with 452 shares advancing as
compared to 1007 that declined. 47 shares remained unchanged.

Sterlite Industries (up 1.52% at Rs 467.10), ACC (up 1.16% at Rs
632.80), Larsen & Toubro (up 0.56% at Rs 2591), Tata Power Company
(up 0.24% at Rs 1023.15), and Grasim Industries (up 0.20% at Rs
1941), were the major gainers from the Sensex pack.

Ranbaxy Laboratories (down 5.10% at Rs 329.50), DLF (down 4.43% at
Rs 402.60), Wipro (down 3.41% at Rs 400.20), Satyam Computer (down
2.08% at Rs 345.90), Bharat Heavy Electrical (down 2.13% at Rs
1648), were the major losers from the Sensex pack.




India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries (RIL) fell 0.44% at Rs 2028.80.

India's second largest software exporter by sales Infosys
Technologies fell 2.23% at Rs 1591.55.

India's largest private sector bank by market capitalisation ICICI
Bank fell 2.61% at Rs 617.10.

Iron ore miner Sesa Goa was the top traded scrip on BSE in terms of
turnover. The stock was up 5.43% at Rs 130 on a turnover of 53.23
crore on BSE.