Indian Financial Markets At A Glance - 2:30PM , Monday, Sep 15 . Financial markets update every hour from 9:30AM to 5:30PM . . STOCKS Slightly off lows on selective buying at lower levels by domestic funds. Bank shares off lows on value buying. SBI down 4% against over 6% fall earlier. Reliance Infrastructure down 10%, worst hit on Nifty. --Sensex: 13381.98, down 618.83 points or 4.42% vs Fri; 13592.05 at open --Nifty: 4027.85, down 200.60 points or 4.74% vs Fri; 4231.95 at open . CALL Firm around 12% as demand remains strong amid strained liquidity condition due to heavy outflows. RBI injects 518 bln rupees via repo tender versus 144 bln rupees Fri. CBLOs at weighted average rate of 9.42%. --1-day call: 11.75-12.00% vs 9.90-8.00% 2-day Sat; 9.90-10.00% at open . GILTS Rise due to softening global oil prices, and on talks the European Central Bank may cut interest rates due to the current financial crisis. SLR buying by some private sector banks aids rise. --8.24%, 2018: 99.75 rupees vs 99.21 Fri; 99.50 rupees at open . RUPEE Stays weak as banks buy dollars to avail of NDF arbitrage and to meet demand from importers. But, dollar sales from PSU banks said to be on behalf RBI prevents sharp fall. Premiums dn as banks sell forward dollars for exporters. --Spot rupee: 45.9300 per $1 vs 45.7100 Fri; 45.5200 at open --1-yr fwd premium: 1.44% vs 2.00% Fri; 1.97% at open . ------------------------------------------------------------------------------ MARKET AT 1:35PM . STOCKS Slightly off lows. Maruti Suzuki, up 0.2%, sole Nifty gainer. Real estate shares fall in line with broad market amid fund raising concerns. Unitech falls nearly 11%, worst hit on Nifty. --Sensex: 13374.46, down 626.35 points or 4.47% vs Fri; 13592.05 at open --Nifty: 4021.90, down 206.55 points or 4.88% vs Fri; 4231.95 at open . CALL Firm around 11.50% as demand remains strong amid strained liquidity condition due to heavy outflows. RBI injects 518 bln rupees via repo tender versus 144 bln rupees Fri. CBLOs at weighted average rate of 9.59% --1-day call: 11.50-11.60% vs 9.90-8.00% 2-day Sat; 9.90-10.00% at open . GILTS Rise more after head of PM's economic panel expects no further RBI tightening. Low crude oil prices may also support prices. But, tight liquidity may temper rise. --8.24%, 2018: 99.55 rupees vs 99.21 Fri; 99.50 rupees at open . RUPEE Stays weak as banks buy dollars to avail of NDF arbitrage and to meet demand from importers. But, dollar sales from PSU banks said to be on behalf RBI prevents sharp fall. Premiums dn as banks sell forward dollars for exporters. --Spot rupee: 45.9000 per $1 vs 45.7100 Fri; 45.5200 at open --1-yr fwd premium: 1.41% vs 2.00% Fri; 1.97% at open . ------------------------------------------------------------------------------ MARKET AT 12:30PM . STOCKS Down over 5%. Bank shares down as Lehman Brothers files for Chapter 11 bankruptcy. State Bank of India, ICICI Bank down over 6% each. Unitech tumbles 8%, worst hit on Nifty. --Sensex: 13222.61, down 778.20 points or 5.56% vs Fri; 13592.05 at open --Nifty: 3974.25, down 254.20 points or 6.01% vs Fri; 4231.95 at open . CALL Firm around 11.50% as demand remains strong amid strained liquidity condition due to heavy outflows. RBI may inject 300-400 bln rupees via repo tender versus 144 bln rupees Fri. CBLOs at weighted average rate of 9.59% --1-day call: 11.50-11.60% vs 9.90-8.00% 2-day Sat; 9.90-10.00% at open . GILTS Recoup losses after head of PM's economic panel expects no further RBI tightening. Low crude oil prices may also support prices. But, tight liquidity may temper rise. --8.24%, 2018: 99.26 rupees vs 99.21 Fri; 99.50 rupees at open. . RUPEE Stays weak as banks buy dollars to avail of NDF arbitrage and to meet demand from importers. But, dollar sales from PSU banks said to be on behalf RBI prevents sharp fall. Premiums dn as banks sell forward dollars for exporters. --Spot rupee: 45.9400 per $1 vs 45.7100 Fri; 45.5200 at open --1-yr fwd premium: 1.53% vs 2.00% Fri; 1.97% at open . ------------------------------------------------------------------------------ MARKET AT 11:30AM . STOCKS Down over 5%, Nifty below 4000. All Nifty, Sensex shares in red. Unitech down 10%, worst hit on Nifty. Bank shares down amid global financial market worries. SBI, ICICI Bank fall 6% each. --Sensex: 13278.37, down 722.44 points or 5.16% vs Fri; 13592.05 at open --Nifty: 3997.85, down 230.60 points or 5.45% vs Fri; 4231.95 at open . CALL Firm around 12% as demand remains strong amid strained liquidity condition due to heavy outflows. RBI may inject 300-400 bln rupees via repo tender versus 144 bln rupees Fri. CBLOs at weighted average rate of 9.35% --1-day call: 11.90-12.00% vs 9.90-8.00% 2-day Sat; 9.90-10.00% at open . GILTS Down as sharp rise in call money rate to 12% due to tight liquidity worries hurts sentiment. But, some comfort may be seen from global oil prices which now hover near $99 per barrel mark. --8.24%, 2018: 99.06 rupees vs 99.21 Fri; 99.50 rupees at open. . RUPEE Trims losses on dollar sales from state-run banks likely on behalf of the RBI. But, dollar demand from importers keeps rupee under pressure. Premiums down as some banks sell forward dollars. --Spot rupee: 45.9000 per $1 vs 45.7100 Fri; 45.5200 at open --1-yr fwd premium: 1.87% vs 2.00% Fri; 1.97% at open . ------------------------------------------------------------------------------ MARKET AT 10:40AM . STOCKS Down 5% on global financial concerns as Lehman Brothers files for Chapter 11 bankruptcy. Cairn India down 9%, worst hit on Nifty. Bank, realty shares tumble. DLF falls 8%, ICICI Bank down 7%. BPCL up 0.2% sole Nifty gainer. --Sensex: 13301.82, down 698.99 points or 4.99% vs Fri; 13592.05 at open --Nifty: 4011.35, down 217.10 points or 5.13% vs Fri; 4231.95 at open . CALL Rises to 12% as banks borrow heavily to meet payment for gilts and scheduled tax outflow. RBI may inject 300-400 bln rupees via repo tender versus 144 bln rupees Thu. CBLOs dealt at weighted average rate of 9.11%. --1-day call: 11.20-11.25% vs 9.90-8.00% 2-day Sat; 9.90-10.00% at open . GILTS Erase all gains and were down as the call money rate rose sharply to 11% on tight liquidity worries. But, some comfort may be seen from global oil prices which now hover near $99 per barrel mark. --8.24%, 2018: 99.12 rupees vs 99.21 Fri; 99.50 rupees at open. . RUPEE Trims losses on dollar sales from state-run banks likely on behalf of the RBI. But, dollar demand from importers keeps an downward pressure on the Indian unit. Premiums down as some banks sell forward dollars. --Spot rupee: 45.8600 per $1 vs 45.7100 Fri; 45.5200 at open --1-yr fwd premium: 1.86% vs 2.00% Fri; 1.97% at open . ------------------------------------------------------------------------------ MARKET AT OPENING BELL . CALL Opens near 10% as demand rises at start of new reporting cycle. Fears of tight liquidity could tighten due to advance tax outflows. RBI may inject 300-400 bln rupees via repo tender versus 144 bln rupees Thu. --1-day call: 9.90-10.00% vs 9.90-8.00% 2-day Sat; 9.90-10.00% at open . GILTS Open up as global oil prices slip below the $100 per barrel mark. But traders do not expect rise to be tempered by the expected tightness in liquidity due to the advance tax outflows. --8.24%, 2018: 99.30 rupees vs 99.21 Fri; 99.50 rupees at open. . RUPEE Slips as most banks buy dollars to book profit and to meet demand from importers. In early trade, rupee had risen to 45.52/$1 noting dlr's weakness against major currencies. Rupee is seen moving in 45.70-45.90/$1 range intraday. --Spot rupee: 45.8700 per $1 vs 45.7100 Fri; 45.5200 at open . STOCKS Seen opening down 2-3% on global financial market concerns as Lehman Brothers may file for bankruptcy after being unable to find buyer over weekend. Delhi blasts unlikely to have major impact on market. --Sensex: May open at 13600 at 10AM; 14000.81 Fri end --Nifty: May open at 4150 at 10AM; 4228.45 Fri end . End .
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