UPDATE AT 2 PM ON OCTOBER 3

The key benchmark indices extended losses in mid-morning

trade onweak global cues. Reliance Industries fell further. The

BSE Sensexwas down 172.10 points. Shares of suppliers of equipment

fornuclear power plants were mixed after the US Senate on

Wednesday, 1October 2008, approved the Indo-US nuclear deal

with overwhelminglymajority. IT and metal stocks declined. PSU

OMC rose on falling crude oilprices. Ranbaxy Laboratories rose

close to 7%. Sterlite Industriesand Steel Authority of India fell

more than 7.5% each. The marketbreadth was weak. The Indo-US

nuclear deal on Wednesday, 1 October 2008, secured theapproval

of the US Senate which overwhelmingly voted a billrejecting all the

killer amendments and paving the way for itsimplementation. The

landmark civil nuclear cooperation agreement,entered into between

Prime Minister Manmohan Singh and US PresidentGeorge W. Bush

in 2005, secured 86 votes while 13 Senators votedagainst it. The

legislation, which has already been cleared by theHouse of Representatives,

will now head to the White House for Mr.Bush signing it into a law.

Most of the Asian stocks dropped today, 3 October 2008, on fearsthat

the global economy will worsen even if the US Congress passesa $700

billion bank rescue bill. Key benchmark indices in HongKong, Japan,

Singapore were down by between 1.39% to 2.12%. The keybenchmark

index in Taiwan rose 0.68% as state funds bought indexheavyweights

to boost the market. Stock markets in China and SouthKorea were closed.