Mkts slip further; SBI, NTPC, HDFC Bank top losers

ON A LOW: Markets have opened lower on the back of profit, Sensex fell 108 points at 14,570 and Nifty down 33 points

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Mumbai:Markets have opened lower on the back of profit booking after Wednesdays positive run up and weak Asian cues. Selling is seen in banking, capital goods, power, technology and realty stocks. Nifty is trading below 4400.

At 9:56 am, the Sensex fell 108 points at 14,570 and Nifty down 33 points at 4,382. CNX Midcap lost 18 points at 5,745.

Amongst frontliners, DLF, Unitech, HDFC, JP Associates, Reliance Infra, GAIL, HCL Tech, NTPC, Reliance, ICICI Bank and SBI have lost ground.

Tata Motors gained nearly 4% after the company has revised raising long term capital due to capital market conditions.

Crude oil is trading near $ 116 per barrel in a volatile session on the NYMEX. Crude inventories rose by largest amount since early 2001. Goldman Sachs reiterated crude oil forecast for year-end price at $ 149/bbl.

Asian markets were trading lower. Taiwan, Kospi, Straits Times, Nikkei, Shanghai and Hang Seng declined 0.80%-2.5%.

In the US markets, major indices ended a choppy session higher, helped by a late rally in banks and better-than-expected results from Hewlett-Packard.

The Dow Jones gained 68.88 points, or 0.61%, to 11,417.43. The S&P 500 index advanced 7.85 points, or 0.62%, to 1,274.54, while the Nasdac composite index added 4.72 points, or 0.20%, to 2,389.08.

Market cues:

· FIIs net sell $ 281.6 mn in equity on Aug 19

· MFs net sell Rs 136.3 cr in equity on Aug 19

· NSE F&O Open Int up by Rs 1,576 crore at Rs 81,055 crore

F&O cues:

· Futures Open Int up by Rs 1,048 crore, Options Open Int up by Rs 528 crore

· Nifty Futures add 2.88 lakh shares in Open Int

· Nifty Futures premium unchanged at 21 pts

· Sep Stock Futures add 1.7 cr shares in Open Int

· Nifty Open Int Put-Call Ratio unchanged at 1.09

· Nifty Puts add 5.5 lakh; Calls add 4.25 lakh shares in Open Int

· Nifty Sep 4200 Put adds 2.8 lk shrs in Open Interest

· Nifty 4500 Call add 2 lakh shares in Open Interest