Sensex opens below 13,700, the markets trade weak: Hold on to Southern Online Bio Technologies Ltd and Premier Explosives Ltd:Dhoot Industrial Finance Ltd hits the buyer Freeze: U can add some of my recommended picks in a staggered way on all declines: Since Premier Explosives is holding only 30 % shares of Premier Explochem Ltd, and is not directly related to the latter, and hence, the former(Premier Explosives) will not have any major impact on its bottomlines. Moreover, all the companies are generally,compulsorily Insured for any such mishaps and hence my point is doubly insured: It seems now that most of the companies in the Small & Micro-cap space are interested in publishing the results in June, 2007, to avoid the May Carnage; if any: Concentrate on Telecom sector and to certain extent on select metal counters:

The market opened weak as profit booking continued for the third straight session, pulling the Sensex below the 13,700 mark. At 10:09 IST, the Sensex was down 69.66 points to 13,694.75. It opened lower at 13,709.95, and touched a low of 13,679.76. Its high for the day so far was 13,745.60.Among the Sensex pack, 24 of the 30 components declined. The total turnover on BSE amounted to Rs 338 crore. The market breadth was negative with 546 shares advancing as compared to 793 that declined. PSU oil exploration major ONGC was the top loser, down 2.42% to Rs 899.90 on 72,544 shares. Ranbaxy (down 1.67% to Rs 382.20), Bharti Airtel (down 1.46% to Rs 804), and ACC (down 0.65% to Rs 879.90) were the other losers Index heavyweight Reliance Industries (RIL) declined 0.16% to Rs 1591.10 on 51,316 shares. Tata Steel was the top gainer, up 0.70% to Rs 557 on 1.37 lakh shares. Hero Honda (up 0.65% to Rs 684), Wipro (up 0.59% to Rs 549.50), and REL (up 0.26% to Rs 506.95), followed. Fortis Healthcare, which listed today, was hovering at Rs 105.90 in early trade, a discount of 1.9% over the IPO price of Rs 108. The stock debuted at Rs 105, which was also its low so far. It hit a high of Rs 109.10. 10.2 lakh shares changed hands in the counter on BSE. Fortis Healthcare had priced its 4.59-crore equity shares at Rs 108. The price band for the IPO was Rs 92 to Rs 110 per share. The issue, which had opened for subscription on April 16, 2007 and closed on April 20, 2007, was subscribed 2.78 times. The qualified institutional buyers (QIB) portion was subscribed 2.72 times, non-institutional portion 1.74 times and the retail portion 3.26 times Asian shares were flat on Wednesday, halting a recent strong run. Caution ahead of the outcome of the meeting of the US Federeal Reserve and rebound in oil prices kept a lid on Asian markets. US stocks closed flat on Tuesday as investors locked in profits after five straight sessions of gains in blue chips, a day before Fed's meeting on interest-rate policy. The Dow Jones industrial average dipped 3.90 points, or 0.03%, to end at 13,309.07, after falling as much as 75 points. The Standard & Poor's 500 Index slipped 1.76 points, or 0.12%, to finish at 1,507.72. But the Nasdaq Composite Index edged up 0.80 point, or 0.03%, to close at 2,571.75. While no one expects a rate move by the Fed, when it meets on Wednesday, investors are keenly awaiting the US central bank's latest assessment of the world's biggest economy. The Bank of England is seen lifting rates to 5.5% on Thursday, a move that would put British interest rates above those in the US for the first time since January 2006. The European Central bank (ECB) is expected to hold its rates steady at 3.75% on Thursday, but signal a hike in June. A spate of merger and acquisition activity as well as increasingly eye-popping takeover bids have helped propel many global indices to record highs in recent days, supporting the view that the bull market has to run further. FIIs remained in buying mode on the bourses on Monday, 7 May. FIIs were net buyers of Rs 96.70 crore of equities on Monday,7 May. But this was lower than the inflow of Rs 212 crore on Friday, 4 May. As per provisional data, FIIs were net sellers of Rs 205-crore equities on 8 May 2007, the day the Sensex lost 114 points. Domestic institutional investors were net sellers of Rs 124.54-crore equities on Tuesday, 8 May. Oil prices rebounded to above $65 a barrel on Wednesday, 9 May, as new attacks on Nigeria's oil industry deepened supply losses, interrupting a six-session losing streak that had driven prices to their lowest level since 26 March. London Brent crude was up 6 cents to $65.60 a barrel.