Market remains subdued; breadth negative

Negative opening in European markets kept the market subdued in
afternoon. Indices exhibited major volatility. Select banking
shares rose, while realty and oil & gas shares languished in
negative terrain. India's top passenger care maker by sales Maruti
Suzuki was the top Sensex gainer.

European markets, which opened after Indian markets, were mostly in
red. Key indices in France and Germany were down by 0.18% to 0.47%.
However, UK's FTSE 100 was up 0.26%. Asian markets were negative
with key indices in China, Hong Kong, Japan, Singapore, South Korea
and Taiwan trading down by 0.03% to 2.62%.

At 13:20 IST, the BSE 30-share Sensex was down 221.93 points or
1.47% to 14,827.93. The index shed 283.85 points at the day's low
of 14,766.01, hit in mid-morning. It lost 55.71 points at the day's
high of 14,994.15 points, hit in afternoon.

The S&P CNX Nifty was down 39.20 points or 1.54% to 4434.80.

The BSE Mid-Cap index was down 0.21% at 5,824.62 and the BSE
Small-Cap index was down 0.03% at 6,980.35.

The market breadth turned negative yet again. On BSE, 1135 shares
advanced as compared to 1278 that declined. 86 shares remained
unchanged.

India's top passenger care maker by sales Maruti Suzuki rose 2.08%
at Rs 678.30.

Tata Power Company (up 0.95% at Rs 1080), Hindalco Industries (up
0.97% at Rs 125), and Grasim Industries (up 0.73% at Rs 2017), were
the other Sensex gainers.

Sterlite Industries (down 4.10% at Rs 610.50), ONGC (down 3% at Rs
1068.50), HDFC Bank (down 3.08% at Rs 1300.10), Housing Development
Finance Corporation (down 2.56% at Rs 2382.60), and Reliance
Infrastructure (down 2.37% at Rs 1018), were the leading losers
from the Sensex pack.

Select banking shares rose. Karnataka Bank (up 4.89% at Rs 152.40),
Federal Bank (up 3.66% at Rs 228), Punjab National Bank (up 0.82%
at Rs 519), and State Bank of India (up 0.04% at Rs 1,522), rose.
The BSE Bankex was up 0.42% at 7,415.50.

India's largest private sector bank by market capitalisation ICICI
Bank rose 0.52% at Rs 717. ICICI Bank stock accounts for third
highest weightage of 7.50% on the Sensex.

India's second largest software exporter by sales Infosys
Technologies rose 0.39% at Rs 1782. Infosys Technologies stock
accounts for second highest weightage of 8.16% on the Sensex.

India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries (RIL) fell 2.60% at Rs 2156.85. RIL
stock accounts for the highest weightage of 15.21% on the Sensex.

Among the side counters, KSK Energy Ventures (up 8.44% at Rs
214.55), Piramal Healthcare (up 4.55% at Rs 347.80), Aban Offshore
(4.45% at Rs 2,196.50), Opto Circuits (up 3.79% at Rs 337.90), and
GAIL India (up 3.65% at Rs 420.35), rose.

Indiabulls Real Estate (down 8.44% at Rs 295.15), Gujarat Mineral
Development Corporation (down 7.03% at Rs 224.25), Gujarat State
Petronet (down 5.90% at Rs 60.60), Housing Development &
Infrastructure (down 4.71% at Rs 310.50), and Indiabulls Financial
Services (down 4.17% at Rs 257.60), were the side counter losers.