The Asian markets closed weak today and the European markets were also trading relatively flat. The market was slightly choppy and the BSE Midcaps Index (up 0.7%) and Smallcaps INdex (up1.2%) dominated today. The Sensex closed at 19590, down 385 points while Nifty closed at 5847, down 85 points from the previous close. The market breadth was negative with advances at 585 against declines of 597 on the NSE. The Sensex gainers included Bharti Airtel, NTPC, SBI and Cipla, while the losers included ICICI Bank, Relaince Industries, Infosys and ONGC.

Worsening credit market seen in the next 2-3 weeks, says Jay Moghe of Opes Prime Asset Management, on NDTV Profit. A sell-off has been witnessed across Asian markets, he adds. The liquidity bubble due to the Federal rate cut led to the rise in the Asian markets, he says.

Reliance Communications ties up with Microsoft, to launch iPTV services in Mumbai and Delhi soon, says Anil Ambani, Chairman of ADAG (Anil Dhirubhai Ambani Group) while addressing a press conference with Microsoft CEO Steve Ballmer on NDTV Profit. Reliance Communications is currently trading at Rs 792, up 0.7% on the BSE.