UPDATE AT 11 AM ON OCTOBER 6

The market extended Monday's (3 October 2008) steep fall

on weakAsian stocks. Sensex hit its lowest level in more than

two yearswhile Nifty hits 1-½ year low. Sensex was down

313.50 points.Metal, banking and realty stocks plummeted.

Jaiprakash Associateswas down 6.5% and Sterlite Industries was

down by more than 7%. The financial crisis spread further to Europe

and doubts persistedabout the effectiveness of the US administration's

$700 billion USfinancial sector bailout plan. The uncertainty over the

nucleardeal with the United States persisted Condoleezza Rice, US

secretary of state, left New Delhi at the weekend without signing

the US-India nuclear deal. The domestic bourses also ignored

reports that the market regulator Securities & Exchange Board

ofIndia (Sebi) may relax norms of participatory notes. The market

also ignored fall in inflation and further fall in oil & commodityprices.

At 10:19 IST, the BSE 30-share Sensex was down 313.50 points or

2.5% to 12,212.82. The index shed 406.13 points at the day's low

of12,120.19, hit in early trade, its lowest level since 20 September

2006. The Sensex fell 241.83 points at day's high of 12,284.49, in

early trade. The S&P CNX Nifty was down 110.65 points or 2.9%

to 3,707.65. Niftyhit a low of 3,688.65, its lowest level since 3 April 2007.