Market Summary 15/10/2008.

Worries over liquidity conditions in the financial system and weak global markets pulled the domestic bourses sharply lower today. The BSE Sensex which opened about 240 points lower on weak global cues extended the losses and showed no sign of recovery to provisionally end 687.70 points or 6% lower. At the day’s low Sensex was down 725 points.

US, euro zone and Japanese economies are all widely expected to slip intorecessions, threatening growth in emerging markets. Recession fears returned tocentre stage today after trillions of dollars pledged for bank bailouts fromEurope to Asia helped allay fears of an imminent financial meltdown. Trading inUS index futures suggested the Dow would fall 142 points at the opening bell.

As per the provisional figures on BSE, the BSE 30-share Sensex ended 687.75 points or 5.99% lower at 10,795.65. The index declined 723.07 points at the day's low of 10,760.33 hit in late trade. The Sensex fell 226.35 points at day’s high of 11,257.15, in early trade.
The S&P CNX Nifty was down 187.25 points or 5.32% to 3,331.40 as per the provisional figures.
BSE clocked a turnover of Rs 3,372 crore today as compared to a turnover of Rs 4,252.13 crore on 14 October 2008.
The BSE Mid-Cap index was down 4.32% at 3,723.77 and The BSE Small-Cap index was down 4.7% at 4,398.96. Both the indices outperformed the Sensex.
The market breadth was weak. On BSE, 478 shares advanced as compared to 2,116 that declined. 39 shares remained unchanged.

Asian markets were trading lower today, 15 October 2008 on concern the massive bank rescue of global would come at a huge economic cost and do little to repair the damage already done by a 14-month credit crunch. China's Shanghai Composite, Hong Kong's Hang Seng, Japan's Nikkei, Singapore's Straits Times, South Korea's Seoul Composite and Taiwan's Taiwan Weighted fell between 0.86% to 3.72%.
The rupee was at 48.40 per dollar today compared with Tuesday's close of 48.04/06.