mumbai indian equities put on a brave face friday and recovered from lows as traders covered shorts in realty stocks however losses in metals and real estate saw the benchmarks end lower equities extended losses from wednesday as traders battered satyam computer to a low of rs 630 on nse but emergence of short coverings and fresh buying at lower levels helped indices bounce back lack of conviction and fears of similar mismanagement at other companies saw realty stocks tumble early in the session followed by metals and oilgas stocks however it auto and fmcg bucked the trend market also discounted inflation which continued to move south indias annual rate of inflation fell further to 591 per cent in the week ended dec 27 from 638 per cent a week earlier bombay stock exchanges sensex closed at 940647 down 18041 points or 188 per cent from wednesdays close it touched a low of 925082 and high of 963040 during the day national stock exchanges nifty met a stiff resistance near 2900 levels the 50share index ended at 2873 down 4740 points or 162 per cent it hit an intraday low of 281025 and high of 292985 apart from the satyam scam negative global cues took toll on the markets global markets were down past two days and after a holiday we were playing catchup also profit booking across the board has set in after the december rally at this stage investors should look at investing in companies where corporate governance is high like infosys and hdfc where perceived management integrity and transparency is high like the tata group psu companies where cag audit is carried and mncs where home country rules are strict said amitabh chakraborty headequities at religare reliance communications 961 sterlite industries 955 tata steel 820 reliance infrastructure 770 were amongst the sensex losers market breadth was negative on the bse with 1879 declines and 577 advances the bse midcap index ended 241 per cent lower and bse smallcap index declined 292 per cent the sensex gainers were tcs 634 hindustan unilever 479 ntpc 403 mahindra mahindra 351 maruti suzuki 342 traders continued to pound satyam computers and companies associated with it subsidiaries the stock ended with heavy losses as its net worth still remains a mystery the share fell to yearly low of rs 1150 on bse before closing 4030 per cent lower at rs 2385 on nse the stock fell to a low of rs 630 intraday shares of maytas infrastructure closed at the lower circuit at rs 15110 while nagarjuna construction which has a jv with maytas ended 1737 per cent lower meanwhile european markets were down on profit booking in metal stocks us stocks futures were also down ahead of jobless data at 530pm istdow jones stock futures were down 046 per cent nasdaq stock futures fell 062 per cent and sp 500 stock futures declined 041 per cent its a crucial week ahead for indian markets as index of industrial production