The markets started the day down nearly 3% but saw some recovery coming in during the final hour of trade. The downtrend in market has been in global peers. The US subprime mortgage worry continues to haunts, it started with Europe yesterday and moved to US, today Asia ended with deep cracks and it down around 3%. Korea shaved off 4%.

Broader markets also ended in red but outperformed the benchmark indices down nearly 1%.

Realty, banking and metal indices are worst hit and are down 2.5%. FMCG, auto, pharma and oil & gas indices are down 1%.

Bharti Aitel, HDFC, Reliance Communication, Hero Honda, NTPC, Sterlite Ind are among the top losers down in the range of 3%-4%.

However, select IT stocks like Infosys and Satyam have managed to keep their head above the water and are trading marginally in the green. The rupee has weakened against the dollar and is tradingnear 40.66 levels against the dollar.