Post Session Market

The Indian market closed in the negative territory as the profit booking took a lead in a volatile trading session. The market was unable to sustain at higher level after a firm start and fell to pare all its initial gains. A holiday yesterday due to the celebration of Maharastra Day tomorrow and the US Federal Reserve Policy meeting scheduled to be held later on the day led the investors to take calculated steps to clear up their positions.
The market breadth was weak as 1397 stocks closed in red while 1296 stocks closed in green.

The BSE Sensex closed lower by 91.15 points at 17,287.31 and NSE Nifty fell by 29.6 points to close at 5,165.90. The BSE Mid Caps and Small Cap fell by 8.21 points and 11.74 points to close at 7,138.74 and 8,773.57 respectively.

Major losers from the BSE are IFCI (9.86%), Alstom Projects (8.74%), Naga Fert (8.49%), Chambal Fert (6.75%), RCF (4.82%), Cairn India (4.67%), Titan Inds (4.50%) and Hind Zinc (4.44%).

Major gainers from the BSE are Praj inds (14.76%), Nestle (9.15%), Lanco Infra (8.79%), GTL Infra (8.33%), Deccan CHR (6.25%), I-Flex (6.03%) and Glaxosmithkline (5.48%).

The Realty index dropped by 144.75 points to close at 8,505.49. Major losers are Anant Raj (4.39%), DLF (2.84%), Unitech (2.24%), Penland (1.98%), Indbull Real (1.72%), Sobha Dev (1.4%) and Parsvnath (0.54%).

The Metal index fell by 78.57 points to close at 16,114.40. Losers are Hind Zinc (4.44%), Sterlite inds (4.08%), SH. Precoated (3.68%), Jindal Stainless (3%), Welspun Guj (2.61%), Maharash Sea (2.40%) and Nalco (2.06%).

The Capital Goods index closed flat at 13,931.25. Gainers are Praj Inds (14.76%), AIA Engineering (5.08%), Kir Oil Eng (3.80%), ABB (0.55%) and BHEL (0.27%) closed in green while Alstom Projects (8.74%), Areva (3.34%), Jyoti Structures (2.09%) and Thermax (1.99%) closed in red.

The Bankex index slipped by 145.07 points to close at 8,819.68. Scrips that fell are Federal bank (2.91%), PNB (2.46%), ICICI bank (2.43%), Axis bank (2.12%), HDFC bank (2.11%), Union bank (1.84%) and IOB (0.94%).

The Oil & Gas index closed lower by 180.71 points at 11,480.55 as Cairn India (4.67%), RNRL (3.47%), Aban Offshore (2.49%), ONGC (1.84%), Reliance industries (1.44%), Essar Oil (1.16%) and RPL (0.49%).

Mid Sesion Market

The market is now off the day’s high and slipped down to trade in the negative territory as selling continued in the selective scrips. The Bank, Oil & Gas, Realty and Consumer Durables stocks are out of favor today while significant buying witnessed in the IT, FMCG and Auto stocks. However, the Mid Cap and Small Cap stocks have maintained their opening gains and are trading higher.

The overall market breadth is positive, as 1406 stocks are advancing while 1107 stocks are declining and the 72 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 26.32 points at 7,173.27 and the BSE small Cap advanced by 30.61 points to trade at 8,815.92.

At 12.30 pm, BSE Sensex was at 17,309.46 down by 69 points and Nifty was at 5,175.60 down by 19.90 points.

BSE IT index grew by 81.97 points to trade at 4,319.78 as TCS (2.55%), Infosys Technologies (2.49%), Wipro (1.39%), and Satyam Computer (1.19%) are trading in green.
TCS has bagged an eight year end to end IT application services contract worth of Rs454 crore from Scottish Water, a UK based firm. As per this contract, the company will consolidate Scottish Water’s existing applications and transform information management to enhance delivery of IT services to the business.

BSE Auto index improved by 49.49 points to trade at 4,696.11 as Tata Motors (2.40%), Mahindra & Mahindra (1.67%) and Maruti Suzuki (1.21%) are trading in positive.
Mahindra & Mahindra plans to launch an ultra-low-cost tractor to drive deep into the rural market. The tractor would cost around Rs 2 lakh and meet all the basic standards.

BSE Metal index decreased by 28.69 points to trade at 16,164.28. The major losers are NALCO (2.79%), Sterlite Industries (2.46%), Hindalco Industries (0.88%) and Tata Steel (0.85%).
SAIL will invest 50% in Steel Industries Limited Kerala (SILK) for manufacturing high quality steel. A MoU for the joint venture will be signed on May 3 in Kozhikode.

BSE Capital goods index increased by 60.11 points to 13,991.28. The main gainers are Siemens (1.42%), ABB (0.52%) and BHEL (0.49%).

BSE Power index inclined by 25.27 points to trade at 3,361.61 as NTPC (1.49%), Power Grid (1.14%), and Suzlon Energy (0.84%) are trading in positive.

BSE Health Care index increased by 20.16 points to trade at 4,268.78 as Cadila Healthcare (5.94%), Divi’s Lab (4.48%), Fortis Healthcare (1.86%) and Glaxosmith (1.03%) are trading in positive.

BSE Banks dropped by 75.33 points to trade at 8,889.42. The main losers are HDFC Bank (1.99%), ICICI Bank (1.40%), PNB (0.22%) and SBI (0.20%) are trading in red.

BSE Oil & Gas index was trading 38.85 points lower at 11,622.41 as Cairn India (3.47%), ONGC (1.69%), ABN Off shore (1.23%) and RNRL (0.20%) are trading in red.

BSE Realty index declined marginally by 0.95 points to trade at 8,649.29. Leading to its fall are Anant Raj Industries (1.79%), DLF (1.42%), Penland (0.47%), Unitech (0.24%) and HDIL (0.12%).

Pre Session Market

The Indian Market is likely to have a positive opening as he Asian market is trading higher. On Tuesday, the Indian Market closed with handsome gains after the announcement of the monetary policy by the RBI in which it kept all the key interest rates unchanged but it raised the Cash Reserve Ratio by 25 basis point As per this, the scheduled banks required to maintain CRR of 8.25% with effect from the fortnight beginning May 24, 2008. But earlier there are rumors of hike in repo rate and revere repo rate but RBI beat all the expectations by keeping these rates unchanged. This led to the boosting of the sentiments among the investors and heavy buying was witnessed from the realty, metal and bakex indices baskets. In this review, RBI expects the economy to grew by 8-8.5% in 2008-09 also inflation remained a serious concern and as per RBI it would be brought down to around 5.5% in 2008-09 and the preference would be to bring it close to 5%. Though the market opened on a firm note but pared all its gains before the announcement of the policy but gained he momentum soon after the declaration of monetary policy review. The BSE Sensex closed higher by 362.50 points at 17,378.46 and NSE Nifty closed up by 105.85 points to close at 5,195.50. We expect that the market may remain volatile during the trading session.

On Tuesday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 39.81 points at 12,831.94 along with S&P 500 fell by 5.43 points to close at 1,390.94 while NASDAQ closed marginally higher by 1.70 points at 2,426.10.

The Indian ADRS closed mixed. In technology sector, Satyam grew by (5.67%) along with Infosys by (3.81%), Patni Comp by (2.58%) and Wipro by (1.89%). In banking sector, HDFC Bank decreased by (0.55%) while ICICI Bank increased by (0.22%). In telecommunication sector, MTNL and Tata Communications dropped by (2.12%) and (1.93%) respectively.

Today the major stock markets in Asia are trading with marginal gains. Hang Seng is trading higher by 43.10 points at 25,871.05 along with Taiwan Weighted trading up by 36.80 points at 8,928.54 and Seoul Composite trading at 1,816.72 up by 5.21 points.

The FIIs on Tuesday stood as net buyer in equity while net seller in debt. The gross equity purchased was Rs2,620.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,539.50 Crore and gross debt sold stood at Rs444.60 Crore. Therefore, the net investment of equity reported was Rs81.20 Crore and net debt was (Rs444.60 Crore).

Today, Nifty has support at 5,086 and resistance at 5,289 and BSE Sensex has support at 17,034 and resistance at 17,791.

Mid Session Market

The market has gained further grounds as strong buying continued in the frontline indices after RBI in its monetary policy has kept the Repo and Reverse Repo remained unchanged. However, RBI hikes CRR by 25 BPS to 8.25%. The significant buying witnessed in the Bank, Realty, Metal and Auto stocks. The Mid Cap and Small Cap stocks have maintained their opening gains.

The overall market breadth is positive, as 1455 stocks are advancing while 1007 stocks are declining and the 61 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 48.02 points at 7,115.42 and the BSE small Cap advanced by 47.54 points to trade at 8,757.36.

At 12.30 pm, BSE Sensex was at 17,259.73 up by 243.77 points and Nifty was at 5,145 up by 55.35 points.

BSE Metal index surged by 289.95 points to trade at 15,914.17. The major gainers are Tata Steel (3.12%), NALCO (2.77%), Hindalco Industries (2.28%) and Sterlite Industries (1.27%).

BSE Banks advanced by 176.56 points to trade at 8,993.40. The main gainers are ICICI Bank (2.74%), SBI (2.38%), PNB (2.17%) and HDFC Bank (0.90%) are trading in green.

BSE Oil & Gas index was trading 95.43 points higher at 11,525.45 as Cairn India (2.11%), GAIL India (1.91%), ONGC (1.38%) and BPCL (0.28%) are trading in green.
Gail India will be a part of the consortium, which will build $7.6bn Turkmenistan-Afghanistan-Pakistan-India(TPAI) pipeline. This consortium will build and operate 1680 km pipeline from Dauletabad gas field in Turkmenistan to India through Afghanistan and Pakistan. The TAPI pipeline will cover Dauletabad gas field in Turkmenistan to Afghanistan and from there alongside the highway from Herat to Kandahar and then through Quetta and Multan in Pakistan to Fazilka in India, near the border with Pakistan.

BSE Realty index advanced by 41.26 points to trade at 8,209.33. Leading to its gain are DLF (3.28%), Ansal Infrastructures (2.89%), HDIL (2.21%), India Bull Real (1.83%) and Mahindra Life (1.59%).

BSE Capital goods index dropped marginally by 5.93 points to 13,749.11. The main losers are ABB (1.36%), BEML (1.56%), Crompton Greaves (1.51%) and BHEL (0.78%).

BSE IT index fell by 15.01 points to trade at 4,011.73 as Mphasis (2.32%), TCS (0.34%), and NIIT Technologies (0.16%) are trading in red.

BSE Power index inclined marginally by 1.52 points to trade at 3,306.11 as Tata Power (4.83%), Reliance Energy (1.48%), Power Grid (1.40%) and GVK Power (1.04%) are trading in positive.

BSE Health Care index increased by 36.66 points to trade at 4,252.57 as Glenmark Pharma (5.54%), Ranbaxy Lab (1.94%) and Dr. Reddy (1.15%) are trading in positive.

BSE Auto index improved by 40.62 points to trade at 4,617.82 as Hero Honda (4.21%), Mahindra & Mahindra (1.12%) and Tata Motors (1.52%) are trading in positive.
Mahindra & Mahindra has planned Rs.500crores private placement. It will offer securities on a preferential basis to outside investors for the first time in its history as tight credit markets and ample liquidity with large funds force the company into seeking alternative sources of capital.

Pre Session Market

The Indian Market is likely to have a positive opening due to mixed cues from the global markets. On Monday, the Indian market closed in red as the volatility gripped the market since the initial bell. The market was unable to sustain at higher levels and kept on moving between the positive and negative territory throughout the trading session. Also, the RBI’s monetary policy review and US Fed’s policy meeting on April 30 led the investors to take cautious approach through out the trading session. The market breadth was weak as 1374 stocks closed in red while 1295 stocks closed in green. The BSE Sensex closed lower by 110.02 points at 17,015.96 and NSE Nifty fell by 22.05 points to close at 5,089.65. We expect that the market may remain choppy during the trading session and all the eyes will be on the RBI’s Credit Policy, which is scheduled today and this announcement by RBI will give further direction to the market.

On Monday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 20.11 points at 12,871.75 along with S&P 500 fell by 1.47 points to close at 1,396.37 while NASDAQ closed higher by 1.47 points at 2,424.40.

The Indian ADRS closed mixed. In technology sector, Infosys fell by (1.92%) along with Satyam by (1.06%) and Wipro by (0.63%). In banking sector, ICICI bank and HDFC Bank dropped by (3.86%) and (2.86%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (0.40%) and (0.36%) respectively.

Today the major stock markets in Asia are trading mixed. Hang Seng is trading higher by 75.05 points at 25,738.34 along with Japan’s Nikkei trading up by 30.90 points at 13,894.37 and Taiwan Weighted trading at 9,057.34 up by 18.05 points.

The FIIs on Monday stood as net buyer in equity while net seller in debt. The gross equity purchased was Rs3,414.90 Crore and the gross debt purchased was (Rs186.90 Crore) while the gross equity sold stood at Rs3,066.10 Crore and gross debt sold stood at Rs236.30 Crore. Therefore, the net investment of equity reported was Rs348.80 Crore and net debt was (Rs423.20 Crore).

Today, Nifty has support at 4,867 and resistance at 5,198 and BSE Sensex has support at 16,642 and resistance at 17,482.

Post Session Market

The Indian market closed in the negative territory after facing the volatility throughout the trading session. The market opened on a strong note tracking the firm cues from the global markets but was unable to sustain at higher levels and kept on moving between the positive and negative territory. Also, the RBI’s monetary policy review which is scheduled tomorrow and US Fed’s policy meeting on April 30 led the investors to take cautious approach through out the trading session. The market breadth was weak as 1374 stocks closed in red while 1295 stocks closed in green.

The BSE Sensex closed lower by 110.02 points at 17,015.96 and NSE Nifty fell by 22.05 points to close at 5,089.65. The BSE Mid Caps closed up by 11.19 points at 7,067.40 while Small Cap closed lower by 17.90 points at 8,709.82.

Major losers from the BSE are Siemens (9.87%), Spice Tele (4.45%), Cipla (4.08%), Infra Dev Fin (3.83%), Suzlon Energy (3.75%) and Indus Ind Bank (3.63%).

Gainers from the BSE are LIC Housing Finance (11.60%), Bharat Ele (7.39%), Deccan Aviation (6.48%), Titan inds (6.38%), Pantaloon Retail (5.98%), Sesa Goa (5.91%), Lanco Infra (5.48%).

The Capital Goods index dropped by 166.83 points to close at 13,755.04. Major losers are Siemens (9.87%), Suzlon Energy (3.75%), Alstom Projects (2.77%), ABB (1.65%), Crompton Greaves (1.54%), L&T (0.86%), Lakshmi Machines (0.79%).

The Metal index dropped by 110.96 points to close at 15,624.22. Losers are Welspun Guj (3.51%), Tata Steel (3.19%), Jindal Stainless (2.37%), Ispat inds (2.30%), Nalco (1.52%), Hindalco inds (1.48%) and JSW Steel (1.12%).

The Bankex index fell by 51.24 points to close at 8,816.84 as Karnataka bank (2.97%), Canara bank (2.68%), ICICI bank (2.31%), Federal bank (1.83%), Yes bank (0.94%), SBI (0.77%) closed in red while Kotak bank (3.11%), Union bank (2.02%) and IOB (2.15%) closed in green.

The Oil & Gas index slipped by 124.57 points to close at 11,430.02. Scrips that fell are Essar Oil (3.10%), Gail India (1.83%), Aban Offshore (1.45%), Reliance inds (1.24%), RPL (0.41%) and RNRL (0.28%).

The Realty index closed marginally higher by 18.30 points at 8,168.07. Gainers are Anant Raj inds (8.01%), Mahindra Life (4.83%), Ansal Infra (2.40%), Unitech (1.61%), Akruti City (1.52%).

Mid Session Market

The market is still trading lower as significant selling witnessed in the frontline indices. The selling pressure is seen in the Capital Goods, IT, Power and Oil & Gas stocks. However, the Mid Cap and Small Cap stocks have maintained their opening gains and are trading higher. The Consumer Durables, Pharma and Realty stocks are the hot pursuits of the day.

The overall market breadth is positive, as 1421 stocks are advancing while 1087 stocks are declining and the 67 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 51.23 points at 7,107.44 and the BSE small Cap advanced by 35.68 points to trade at 8,763.40.

At 12.30 pm, BSE Sensex was at 17,069.40 down by 56.58 points and Nifty was at 5,104.60 down by 7.10 points.

BSE Metal index advanced by 20.91 points to trade at 15,756.09. The major gainers are Sesa Goa (6.49%), Maharastra Seamless (5.67%), Sterlite Industries (3.48%) and Hindustan Zinc (1.70%).
Sterlite industries has posted a growth of 15.32% in consolidated net profit to Rs1318.41 crore as against Rs1143.22 crore reported during the same period last year. On a standalone basis, the net profit grew by 46.5% to Rs306.45 crore during the quarter as against Rs209.18 crore last year.

BSE Banks increased by 12.87 points to trade at 8,880.95. The main gainers are Kotak Bank (2.60%), HDFC Bank (1.93%), AXIX Bank (1.27%) and Allahabad Bank (1.52%) are trading in green.

BSE Oil & Gas index was trading 45.90 points lower at 11,508.69 as Essar Oil (2.76%), ABN Offshore (0.95%), ONGC (0.76%) and BPCL (0.41%) are trading in red.

BSE Realty index advanced by 69.07 points to trade at 8,218.84. Leading to its gain are Ansal Infrastructure (3.49%), Mahindra Life (2.92%), Penland (1.57%), Parsavnath (1.40%) and DLF (1.15%).
DLF plans to invest Rs 1,250 crore for the expansion of its multiplex business. The company has planned to add at least 500 screens in the next four to five years across the country.

BSE Capital goods index dropped by 94.15 points to 13,827.72. The main losers are Siemens (7.64%), ABB (2.22%), Crompton Greaves (1.41%) and L&T (0.39%).

BSE IT index fell by 19.18 points to trade at 4,044.19 as Wipro (1.73%), Infosys Technologies (0.85%), TCS (0.74%) and Satyam Computers (0.10%) are trading in red.

BSE Power index declined by 11.76 points to trade at 3,297.90 as Suzlon Energy (1.69%), GVK Power (1.01%), Tata Power (0.40%) and Reliance Energy (0.29%) are trading in negative.

BSE Health Care index advanced by 29.43 points to trade at 4,231.91 as Sun Pharma (3.47%), Dr.Reddy (1.21%) and Ranbaxy Lab (0.44%) are trading in positive.

Pre Session Market

The Indian Market is likely to have a positive opening as the cues from the global markets are in favor. On Friday, The Indian Market closed on a strong note due to the favoring cues from the global markets as well as better results by some of the telecom companies like Bharti Airtel, that boosted the sentiments of the investors. The market opened on a firm note but pare some of its gains during the mid session due to weekly inflation figures that grew to 7.33% for the week ended April 2008 as against 7.14% last year. However, the market gathered the momentum after the mid session as the buying intensified across the telecom, banking and metal baskets. The BSE Sensex closed higher by 404.90 points at 17,125.98 and NSE Nifty closed up by 111.85 points at 5,111.70. We expect that the volatility may grip the market during the trading session as The Reserve Bank of India (RBI) will come out with its annual credit policy for the fiscal 2008-09 on April 29 and the US Fed has its policy meeting on the April 30.

On Friday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed higher by 42.91 points at 12,891.86 along with S&P 500 closed up by 9.02 points at 1,397.84 while NASDAQ closed lower by 5.99 points at 2,422.93.

The Indian ADRS closed mixed. In technology sector, Wipro grew by 2.74% along with Infosys by 0.09% while Patni computers and Satyam fell by 1.01% and 0.20% respectively. In banking sector, HDFC bank and ICICI bank advanced by (5.31%) and (5.24%) respectively. In telecommunication sector, MTNL and Tata Communication increased by (4.26%) and (0.77%) respectively.

Today the major stock markets in Asia are trading firm. Hang Seng is trading higher by 177.89 points at 25,694.67 along with Japan’s Nikkei trading up by 104.63 points at 13,968.10 and Taiwan Weighted trading at 8,984.70 up by 36.87 points.

The FIIs on Friday stood as net seller both in equity as well as debt. The gross equity purchased was Rs3,675.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs4,201.30 Crore and gross debt sold stood at Rs6.10 Crore. Therefore, the net investment of equity reported was (Rs526.10 Crore) and net debt was (Rs6.10 Crore).

Today, Nifty has support at 5,013 and resistance at 5,198 and BSE Sensex has support at 16,712 and resistance at 17,486.

Post Session Market

The Indian Market closed with handsome gains backed by the favoring cues from the global markets as well as better results by some of the telecom companies that boosted the sentiments of the investors. The market opened on a firm note but pare some of its gains during the mid session due to weekly inflation figures that grew to 7.33% for the week ended April 2008 as against 7.14% last year. However, the market gathered the momentum after the mid session as the buying intensified across the telecom, banking and metal baskets. This resulted the Sensex to cross the 17000 mark to touch an intraday high of 17,150.92. The market breadth was weak as 1455 stocks closed in red while 1251 stocks closed in green.

The BSE Sensex closed higher by 404.90 points at 17,125.98 and NSE Nifty closed up by 111.85 points at 5,111.70. The BSE Mid Caps closed up by 51.81 points at 7,056.21 while Small Cap closed lower by 13.29 points to close at 8,727.72.

Major losers from the BSE are Guj NRE (6.38%), Dish TV (5.87%), Mosear Baer (5.21%), Hind Const (4.53%), United Spirits (3.87%) and HMT (3.20%) and India Cements (3.09%).

Gainers from the BSE are Bharti Airtel (9.61%), Chambal Fert (8.35%), Rel Comm (8.31%), Welspun Guj (6.84%), Nagarjuna Fert (6.69%), Reliance Capital (6.64%), RNRL (6.49%), Triveni Eng (6.29%).

Bharti Airtel has reported a growth of 44% in consolidated net profit to Rs1,898.85 crore for the quarter ended March 2008 as compared to Rs1,318.56 crore reported during the corresponding period last year. The yearly net profit grew by 57.4% to Rs6,395.38 crore as against Rs4,062.01 crore last year

The Metal index surged 370.75 points to close at 15,735.18. Major gainers are Welspun Guj (6.84%), Hind. Zinc (5.63%), Jindal Steel (4.51%), Sterlite inds (3.69%), Ispat inda (1.60%), Tata Steel (3.45%), SAIL (1.43%) and Nalco (1.34%).

The Bankex index advanced by 286.03 points to close at 8,868.08. Scrips that jumped are ICICI bank (4.54%), SBI (4.01%), HDFC bank (3.59%), Canara bank (2.56%), CentBOP (2.51%), Yes bank (2.26%), PNB 2.35% and Axis bank (1.65%).

The Oil & Gas index closed up by 179.23 points at 11,554.59 as RNRL (6.49%), BPCL (2.67%), ONGC (2.20%), Reliance industries (1.69%), HPCL (1.66%), RPL (0.72%), Essar Oil (0.63%) and IOCL (0.21%).

The Realty index closed up by 112.64 points at 8,149.77. Gainers are Anant Raj (11.90%), Indbul Real (5.39%), Unitech (1.48%), Sobha Developers (1.04%) and HDIL (0.88%).

The Capital Goods index grew by 101.44 points to close at 13,921.87. Scrips that gained are Kirloskar BR (6.67%), Jyoti Structures (3.24%), Lakshmi Machines (2.44%), Suzlon Energy (1.53%), BEML (1.32%) and L&T (1.02%).

Mid Session Market

The market is still trading higher as strong buying continued across the board. The Bank, Metal, Auto and Consumer Durables are in hue demand today. However, the Realty, Capital Goods and FMCG stocks are out of favor today as not much buying witnessed in these stocks. The Mid Cap and Small Cap stocks also trading higher but has under performed the benchmark index today.The overall market breadth is negative, as 1214 stocks are advancing while 1260 stocks are declining and the 65 stocks remained unchanged on BSE.The BSE Mid cap is higher by 27.45 points at 7,031.85 and the BSE small Cap advanced by 0.62 points to trade at 8,741.63.At 12.37 pm, BSE Sensex was at 16,889.95 up by 168.87 points and Nifty was at 5,054.90 up by 55.05 points.BSE Metal index advanced by 153.55 points to trade at 15,517.98. The major gainers are NALCO (2.53%), Sterlite Industries (1.94%), SAIL (1.37%) and Tata Steel (0.86%).BSE Banks surged by 124.32 points to trade at 8,706.37. The main gainers are HDFC Bank (2.15%), SBI (2.06%), ICICI Bank (1.11%) and PNB (1.05%) are trading in green.BSE Oil & Gas index was trading 114.75 points higher at 11,490.11 as Essar Oil (2.82%), BPCL (1.07%), HPCL (1.01%) and ONGC (0.94%) are trading in green.BSE Realty index increased by 5.41 points to trade at 8,042.54. Leading to its gain are Anant Raj (4.90%), HDIL (1.69%), Mahindra Life (1.42%), India Bull (1.23%) and Unitech (0.76%).BSE Capital goods index increased marginally by 0.71 points to 13,821.14. The main gainers are ABB (1.35%), BHEL (0.51%), Punj Lloyd (0.54%) and Praj Industries (0.06%).BSE IT index grew by 29.92 points to trade at 4,079.44 as Mphasis (3.64%), Wipro (2.99%), HCL Technologies (2.45%) and TCS (0.61%) are trading in green.BSE Power index inclined by 11.35 points to trade at 3,291.37 as NTPC (0.94%), Power Grid (0.73%), Reliance Power (0.84%), Reliance Energy (0.34%) and Suzlon Energy (0.32%) are trading in positive.BSE Auto index improved by 44.38 points to trade at 4,615.37. Leading to its gain are Hero Honda (4.04%), Ashok Leyland (1.23%), Mahindra & Mahindra (0.83%) and TVS Motor (0.91%).Hero Honda has reported a better than expected 53% rise in quarterly net profit. The net profit rose to Rs.2.99bn in the fiscal fourth quarter to end-March from Rs.1.95bn a year earlier. Net sales rose to Rs.27.89bn from Rs.26.40bn.BSE Health Care index advanced by 17.55 points to trade at 4,187.60 as Divi’s Lab (1.48%), Nicholas Piramal (1.58%), Aventis Pharma (1.47%) and Biocon (0.55%) are trading in positive.

Pre Session Market

The Indian Market is likely to have a positive opening as the cues from the global markets are in favor. On Thursday, the Indian Market closed mixed as BSE Sensex closed with marginal gains while NSE Nifty closed in negative. The domestic market opened on a firm note tracking the favoring cues from global markets but was unable to sustain at higher levels and gave up most of its gains. The market remained firm for the first half but lost the grip in the second half due to the expiry of the April 2008 derivatives contract. From the sectoral point, metal stocks remained out of favor as most selling is seen from this basket. The market breadth is weak as 1465 stocks closed in red while 1266 stocks closed in green. The BSE Sensex closed higher by 23.04 points at 16,721.08 and NSE Nifty fell by 22.95 points to close at 4,999.85. We expect that the market may remain volatile during the trading session and the declaration of inflation figures by the government will give further directions to the market.

On Thursday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 85.73 points at 12,848.95 along with NASDAQ closed up by 23.71 points at 2,428.92 and S&P grew by 8.89 points to close at 1,388.82.

The Indian ADRS closed mixed. In technology sector, Satyam grew by (4.80%) along with Infosys by (2.11%) and Wipro by (1.30%). In banking sector, ICICI bank and HDFC bak advanced by (2.80%) and (2.71%) respectively. In telecommunication sector, Tata Communication increased by (2.37%) while MTNL decreased by (3.40%).

Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading up by 271.03 points at 13,811.90 along with Taiwan Weighted trading higher by 22.73 points at 9,013.06 and South Korea’s Seoul Composite trading at 1,818.35 up by 19.01 points.

The FIIs on Thursday stood as net seller both in equity as well as debt. The gross equity purchased was Rs2,927.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,190.90 Crore and gross debt sold stood at Rs83.60 Crore. Therefore, the net investment of equity reported was (Rs263.10 Crore) and net debt was (Rs83.60 Crore).

Today, Nifty has support at 4,883 and resistance at 5,097 and BSE Sensex has support at 16,232 and resistance at 17,126.

Post Session Market

The Indian Market closed on a mixed note as BSE Sensex closed with marginal gains while NSE Nifty closed in negative. Tracking the favoring cues from the global markets, the domestic market opened on a firm note but was unable to sustain at higher levels and gave up most of its gains. The market remained firm for the first half but lost the grip in the second half due to the expiry of the April 2008 derivatives contract. From the sectoral point, metal stocks remained out of favor as most selling is seen from this basket. The market breadth is weak as 1465 stocks closed in red while 1266 stocks closed in green.

The BSE Sensex closed higher by 23.04 points at 16,721.08 and NSE Nifty fell by 22.95 points to close at 4,999.85. The BSE Mid Caps and Small Caps closed lower by 62.01 points and 58.85 points at 7,004.40 and 8,741.01 respectively.

Major losers from the BSE are ACC (5.49%), Pantal Retail (5.41%), Praj Inds (5.27%), Petronet LNG (5.03%), MMTC (4.74%), Tata Chemicals (4.67%), Gujarat Petronet (4.56%), Hind Cons (4.55%).

Gainers from the BSE are United Spirits (9.91%), JSW Steel (5.10%), Reliance Industrial Infra (5%), Spice Telecom (4.96%), Lupin (4.95%), Oriental bank (4.58%), I-Flex (4.52%) and Sesa Goa (3.93%).

The Metal index closed lower by 183.67 points at 15,364.43. Losers are SH. Precoated (4.20%), Ispat inds (4.06%), Sterlite inds (3.78%), Welspun Guj (3.71%), Jindal Stainless (2.70%), Tata Steel (2.65%) and Gujarat NRE Coke (2.63%).

The Realty index dropped by 19.04 points to close at 8,037.13. Losers are Purvankara (4.96%), MahindraLife (3.74%), Akruti City (2.52%), Sobh Dev (1.94%), Ansal Infra (1.56%) and DLF (1.40%).

The Capital Goods index grew by 49.46 points to close at 13,820.43. Gainers are Alstom Projects (1.74%), L&T (1.36%), BHEL (1.19%), Lakshmi Machines (0.87%) and ABB (0.46%).

The Bankex index closed up by 29.59 points at 8,582.05 as Oriental bank (4.58%), BOI (2.57%), CentBOP (1.70%), ICICI bank (1.42%), Canara bank (1.24%) and HDFC bank (0.23%) closed in green.

The IT index closed higher by 66.67 points at 4,049.52. Scrips that gained are I-Flex (4.52%), Karut Net (4.43%), Infosys (2.86%), Satyam (2.06%), Rolta India (1.98%), Wipro (1.46%) and Educomp Solution (0.36%).

Mid Sesion Market

The market is still trading higher as significant buying witnessed in the selective scrips mainly led by the Consumer Durables, Realty, Capital Goods and IT stocks. However, the Auto and Pharma stocks are trading marginally down. The broader market has also maintained its opening gains ad is trading in line with the benchmark index.

The overall market breadth is positive, as 1608 stocks are advancing while 941 stocks are declining and the 70 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 44.66 points at 7,111.07 and the BSE small Cap advanced by 57.40 points to trade at 8,857.26.

At 12.37 pm, BSE Sensex was at 16,794.52 up by 96.48 points and Nifty was at 5,045.10 up by 22.30 points.

BSE Realty index surged by 101.58 points to trade at 8,157.75. Leading to its gain are India Bull Real (3.45%), Omaxe Ltd. (3.21%), Parsavnath (2.52%), Unitech (2.42%) and HDIL (1.25%).

BSE Metal index advanced by 73.75 points to trade at 15,621.85. The major gainers are Jindal Saw (4.81%), Hindustan Zinc (4.11%), Sesa Goa (2.25%) and SAIL (1.61%).

BSE Capital goods index improved by 63.60 points to 13,834.57. The main gainers are L&T (1.09%), ABB (1.02%), BHEL (0.42%) and Siemens (0.30%).

BSE Oil & Gas index was trading 24.79 points higher at 11,407.61 as Gail India (0.89%), RPL (0.84%) and Cairn India (0.50%) are trading in green.

BSE IT index grew by 12.65 points to trade at 3,943.12 as Satyam Computer (2.75%), Wipro (1.14%), and Infosys Technologies (0.83%) are trading in green.

BSE Power index increased by 7.25 points to trade at 3,307.15 as Tata Power (3.24%) and Suzlon Energy (0.73%) are trading in positive while NTPC (0.74%) and Power Grid (0.19%) are trading in negative.
Tata Power will enter into an agreement with BHEL for sourcing equipment for sourcing equipment for all its future power projects.

BSE Auto index declined by 3.43 points to trade at 4,576.12. Leading to its fall are Marui Suzuki (2.16%), Mahindra & Mahindra (0.32%) and Tata Motors (0.06%).
Hero Honda is trading higher by (1.66%) as the company has hiked prices of its two wheelers between Rs500 and Rs1000.

BSE Health Care index decreased by 6.74 points to trade at 4,183.25 as Sun Pharma (1.25%), Cipla (1.17%), and Ranbaxy Laboratories (0.02%) are trading in negative.

Pre Session Market

The Indian Market is likely to have a positive opening as the cues from the global markets are in favor. On Wednesday, the Indian market closed lower. Though the market opened with marginal gains but was unable to sustained at higher levels as the profit booking prevailed. The cues from the US market are not in favor that led to the investors in the domestic market to take calculated steps to book their positions. Also the expiry of the April 2008 derivatives contract on this Thursday also add to the sentiments. From the sectoral point, most buying was witnessed from the Realty index. The BSE Sensex closed lower by 85.83 points at 16,698.04 and NSE Nifty fell by 26.5 points to close at 5,022.80. We expect that the market may gain some grounds during the trading session.

On Wednesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 42.99 points at 12,763.22 along with NASDAQ closed up by 28.27 points at 2,405.21 and S&P grew by 3.99 points to close at 1,379.33.

The Indian ADRS closed in positive. In technology sector, Wipro grew by (3.81%) along with Patni Computers by (3.11%), Infosys by (2.08%), Satyam by (1.12%). In banking sector, ICICI bank increased by (0.05%). In telecommunication sector, Tata Communication and MTNL advanced by (1.65%) and (1.64%) respectively. Sterlite industries inched by (1.60%).

Today the major stock markets in Asia are trading firm. Hang Seng index is trading higher by 521.49 points at 25,810.73 along with Japan’s Nikkei trading up by 51.71 points at 13,630.87 and Taiwan Weighted trading at 9,051.30 up by 42.81 points. Singapore Strait Times trading up by 37.61 points at 3,231.45.

The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs2,742.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,349.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs392.40 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,941 and resistance at 5,134 and BSE Sensex has support at 16,313 and resistance at 17,192.

Post Session Market

The Indian market closed lower after facing the volatility throughout the trading session. Though the market opened with marginal gains but was unable to sustained at higher levels as the profit booking prevailed. The cues from the US market are not in favor that led to the investors in the domestic market to take calculated steps to book their positions. Also the expiry of the April 2008 derivatives contract on this Thursday also add to the sentiments. From the sectoral point, most buying was witnessed from the Realty index.

The BSE Sensex closed lower by 85.83 points at 16,698.04 and NSE Nifty fell by 26.5 points to close at 5,022.80. The BSE Mid Caps and Small Caps closed with marginal gains of 28.79 points and 1.78 points at 7,066.41 and 8,799.86 respectively.

Major losers from the BSE are Indian Bank (7.08%), Idea Cellular (5.33%), SAIL (5.26%), MMTC (4.95%), United SPR (4.67%), Chambal fertilizers (4.45%), Suzlon Energy (3.74%), Biocon (3.70%), Oriental Bank (3.55%), Educomp Solutions (3.49%).

Gainers from the BSE are Spice Tele (15.85%), Ashok Leyland (9.71%), Mangalore Refineries (8.55%), Hind Zinc (7.23%), Welspun Guj (7.23%).

The Metal index closed marginally higher by 18.72 points at 15,548.10 as Hind Zinc (7.23%), Gujarat NRE (5.22%), Jindal Saw (4.33%) and Tata Steel (2.14%) closed in green while Sail (5.26%), JSW Steel (2.83%) and Bhushan Steel (2.07%) closed in red.

The Realty index grew by 150.03 points to close at 8,056.17. Major gainers are Purvankara (8.22%), Akruti City (3.83%), Omaxe (3.64%), Indbul Real (2.38%), Mahindra Life (2.24%), Phoenix mill (1.92%) and HDIL (2.02%).

The Capital Goods index fell by 157.74 points to close at 13,770.97. Losers are Suzlon Energy (3.74%), Bhel (2.40%), Siemens (1.85%), BEML (1.74%), Crompton Greaves (1.46%), SKF India (1.13%), Alstom Projects (0.70%) and ABB (0.66%).

The Bankex index dropped by 164.37 points to close at 8,552.46. Major losers are Oriental bank (3.55%), HDFC bank (3.01%), Canara bank (2.59%), BOB (2.14%), SBI (2.10%), Axis bank (1.47%) and Andhra bank (1.33%).

The IT index closed up by 52.38 points to close at 3,982.85. Scrips that gained are Infosys (2.94%), Wipro (2.88%), Rolta India (0.51%), TCS (0.32%).

Mid Session Market

The market is trading lower as selling pressure continued in the selective scrips mainly led by the Bank, Consumer Durables and Metal stocks. However, the Realty, IT and Auto stocks have maintained their position and are still trading higher. The broader market has outperformed the benchmark index from the opening bell ad is trading trading with significant gains.

The overall market breadth is marginally negative, as 1262 stocks are advancing while 1279 stocks are declining and the 55 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 36.59 points at 7,074.21 and the BSE small Cap advanced by 12.63 points to trade at 8,810.71.

At 12.37 pm, BSE Sensex was at 16,639.55 down by 144.52 points and Nifty was at 5,020 down by 29.30 points.

BSE Realty index surged by 142.92 points to trade at 8,049.06. Leading to its gain are Mahindra Life (4.12%), Omaxe Ltd. (3.39%), Parsavnath (3%), India Bull Real (3.50%) and Unitech (2.50%).
Unitech is investing $200mn in Tamil Nadu for making a foray into telecom over the next two years.

BSE Metal index dropped by 153.34 points to trade at 15,376.04. The major losers are SAIL (4.85%), JSW Steel (3.01%), Hindalco Industries (2.25%) and Jindal Steel (1.97%).

BSE Capital goods index slipped by 141.97 points to 13,786.74. The main losers are Siemens (1.99%), BHEL (1.75%), L&T (0.98%) and ABB (0.82%).

BSE Oil & Gas index was trading 25.73 points lower at 11,451.66 as BPCL (2.11%), HPCL (0.40%) and Indian Oil (0.11%) are trading in red.

BSE Banks index dropped by 206.19 points to trade at 8,510.64. The top losers are HDFC Bank (4.33%), ICICI Bank (3.04%), SBI (2.01%) and PNB (0.06%).

BSE IT index grew by 12.65 points to trade at 3,943.12 as Wipro (2.11%), TCS (0.86%) and Infosys Technologies (0.68%) are trading in green.
Wipro and Microsoft Corporation has announced their expansion of their strategic alliance by opening of two centres of excellence in Bangalore and Mysore. These centres will provide solutions and service using Windows Vista and Microsoft Unified communications and this alliance will also enable the customers to take full advantage of Microsoft’s technologies.

BSE Power index decreased by 11 points to trade at 3,307.13 as Suzlon Energy (2.59%), Power Grid (0.38%) and Crompton Greaves (0.17%) are trading in negative.
NTPC is trading higher by (0.41%) as the company and BHEL will invest Rs50 million to form a joint venture company to carry out engineering, procurement and construction contracts for power plants and other infrastructure projects.

BSE Auto index inclined by 17.02 points to trade at 4,563.23. Leading to its gain are TVS Motor (1.68%), Maruti Suzuki (1.35%), Tata Motors (0.57%) and Mahindra & Mahindra (0.42%).

BSE Health Care index increased by 5.45 points to trade at 4,197.71 as Divi’s Lab (3.28%), Glenmark Pharma (2.46%), Aventis Pharma (0.75%), Orchid Chemicals (0.42%) are trading in positive.
Ranbaxy Laboratories is trading lower by (0.24%). The company has decided to enter into a business alliance with Chennai-based Orchid Chemicals & Pharmaceuticals Ltd, rather than mount a hostile takeover bid through an open offer by wholly-owned subsidiary Solrex Pharmaceuticals Ltd.

Pre Session Market

The Indian Market is likely to have a positive opening as the Asian Market is trading in green. On Tuesday, the Indian market closed marginally higher. Though the market opened on a weak note tracking the subdued cues from the global markets but finally managed to made a smart comeback after mid session on the back of recovery in the Asian markets. This led to the heavy buying across the sectoral indices to post good gains. From the sectoral point, Realty, Metal and Capital goods indices reported good gains as most buying was seen from these baskets. The IT index today also continued its losing trend as TCS reported poor financial performance for the fourth quarter ended March 2008 in which its net profit fell by 5.95% to Rs1108.81 crore. The BSE Sensex closed higher by 44.54 points at 16,783.87 and NSE Nifty closed up by 12.3 points at 5,049.30. We expect that the market may remain range bound during the trading session.

On Tuesday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 104.79 points at 12,720.23 along with S&P dropped by 12.23 points to close at 1,375.94 and NASDAQ index fell by 31.10 points to close at 2,376.94.

The Indian ADRS closed in negative. In technology sector, Satyam fell by 8.24% along with Patni Computers by 6.20%, Wipro by 4.06% and Infosys 3.16%. In banking sector, ICICI bank dropped by (1.13%). In telecommunication sector, Tata Communication and MTNL decreased by (2.71%) and (1.79%) respectively.

Today the major stock markets in Asia are trading in green. Hang Seng index is trading higher by 145.86 points at 25,085.01 along with Japan’s Nikkei trading up by 92.83 points at 13,640.65 and Singapore Strait Times trading at 3,201.26 up by 14.03 points.

The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs2,893.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,616 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs277.40 Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,912 and resistance at 5,134 and BSE Sensex has support at 16,314 and resistance at 17,136.

Post Session Market

The Indian market closed with marginal gains after facing heavy selling pressures at the initial session. Though the market opened on a weak note tracking the subdued cues from the global markets but finally managed to made a smart comeback after mid session on the back of recovery in the Asian markets. This led to the heavy buying across the sectoral indices to post good gains. From the sectoral point, Realty, Metal and Capital goods indices reported good gains as most buying was seen from these baskets. The IT index today also continued its losing trend as TCS reported poor financial performance for the fourth quarter ended March 2008 in which its net profit fell by 5.95% to Rs1108.81 crore.

The BSE Sensex closed higher by 44.54 points at 16,783.87 and NSE Nifty closed up by 12.3 points at 5,049.30. The Sensex touched an intraday high of 16,853.96 and low of 16,597.53. The BSE Mid Caps and Small Caps closed up by 54.36 points and 45.25 points at 7,037.62 and 8,798.08 respectively.

Major gainers from the BSE are IFCI 15.63%, Ansal Infra (9.38%), Ispat Inds (8.10%), Akruti City (8.09%), Brigade (7.60%), RNRL (7.20%), Ultratech (6.79%), JP Hydro (6.31%) and Jindal Steel (6.25%).

The Metal index gained 314.69 points to close at 15,529.38. Scrips that jumped are Ispat inds (8.10%), Jindal Steel (6.25%), JSW Steel (5.26%), Nalco (3.87%), SAIL (2.77%), Sterlite inds (2.15%), Sesa Goa (1.76%) and Tata Steel (0.53%).

The Realty index advanced by 230.37 points to close at 7,906.14. Gainers are Ansal Infra (9.38%), Akruti City (8.09%), Purvankara (6.05%), Unitech (4.72%), Penland (4.71%), MahindraLife (2.71%) and Anant Raj (2.08%).

The Capital Goods index closed up by 259.32 points at 13,928.71. Gainers are BHEL (5.55%), Kirloskar BR (4.28%), Crompton Greaves (3.33%), L&T (2.64%), Thermax (1.64%), Elecon Eng (1.52%), BEML (1.26%).

The Bankex index grew by 136.11 points to close at 8,716.83. Scrips that gained are Federal Bank (3.48%), Axis bank (3.35%),HDFC bank (2.93%), ICICI bank (2.18%), Oriental bank (1.87%), Kotak bank (1.79%) and IOB (1.44%).

The IT index dropped by 177.67 points to close at 3,930.47. Losers are TCS (10.63%), Niit Techno (5.77%), Wipro (5.06%), Satyam (5.03%), Tech Mahindra (4.05%), Mphasis (3.14%), Patni Comp (3.02%) and Infosys (2.81%).

Mid Session Market

The market is trading flat from the opening trade. The selective buying is seen in the Mid Cap and Small Cap stocks. However, the frontline stocks are facing slight selling pressure today. The IT, Oil & Gas and Consumer Durables stocks are facing some profit booking. While the buying interest is seen in the Realty, Bank and Metal stocks.

On the primary market front, Kiri Dyes and Chemicals listed at Rs 184 as against its issue price of Rs 150.

The overall market breadth is positive, as 1429 stocks are advancing while 1067 stocks are declining and the 59 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 28.49 points at 7,011.75 and the BSE small Cap advanced by 41.68 points to trade at 8,794.51.

At 12.30 pm, BSE Sensex was at 16,722.05 down by 17.28 points and Nifty was at 5,030.50 down by 6.50 points.

BSE Metal index advanced by 151.70 points to trade at 15,366.39. The major gainers are Bhushan Steel (4.15%), Jindal Steel (4.38%), JSW Steel (3.51%) and NALCO (3.68%).

BSE Capital goods index surged by 179.49 points to 13,848.88. The main gainers are L&T (1.92%), BHEL (1.89%), ABB (1.02%) and Praj Industries (0.46%).
BHEL has won orders worth Rs2030 crore for the supply and installation of the main plant package at 1000mw Nabinagar Thermal Power Plant project in Bihar. The order was placed by Bharathiya Rail Bijlee Company Limited.

BSE Oil & Gas index was trading 12.44 points lower at 11,504.54 as Cairn India (1.98%), BPCL (1.18%), Essar Oil (1.63%) and Indian Oil (0.73%) are trading in red.

BSE Banks index improved by 105.43 points to trade at 8,686.15. The top gainers are AXIX Bank (3.98%), ICICI Bank (2.25%), Kotak Bank (1.52%) and Indian Overseas (1.37%).

BSE IT index fell by 179.40 points to trade at 3,928.74 as TCS (9.45%), HCL Technologies (5.40%), Satyam Computer (5.14%) and Wipro (5.01%) are trading in red.

BSE Realty index increased by 148.19 points to trade at 7,823.96. Leading to its gain are Penland (9.47%), Ansal Infrastructure (5.87%), Unitech (2.63%) and India Bull Real (2.10%).

BSE Power index increased by 33.69 points to trade at 3,314.98 as Torent Power (3.40%), Power Grid (2.31%), NTPC (1.98%) and Reliance Energy (1.39%) are trading in positive.
NTPC and BHEL will invest Rs50 million to form a joint venture company to carry out engineering, procurement and construction contracts for power plants and other infrastructure projects.
Reliance Energy’s shareholders have approved the buyback of shares along with change in name and waiving the company’s entitlement to receive bonus shares, which was proposed by Reliance Power.

BSE Auto index inclined by 9.34 points to trade at 4,557.42. Leading to its gain are Tata Motors (1.41%), MRF (0.78%) and Hero Honda (0.26%).
Hero Honda has hiked prices of its products between Rs 500 and Rs 1000 in most of its models, including Splendor Plus, Passion Plus, CBZ, Ambition and Hunk.

BSE Health Care index inclined by 14.23 points to trade at 4,175.50 as Glenmark Pharma (4.50%), BIOCON (3.37%), Aurobindo Pharma (2.63%) and Sun Pharma (1.01%) are trading in positive.

Pre Session Market

The Indian Market is likely to have a negative opening due to unfavoring cues from the global markets. On Monday, the Indian Markets posted good gains during the trading session to close on a satisfactory note by tracking the favoring cues from the global markets irrespective of hike in Cash Reserve Ratio (CRR) by 50 bps by Reserve Bank Of India on last Thursday i.e. 17-04-2008. The market opened with decent gains and kept on hovering in the positive territory throughout the trading session. From the Sectoral point, metal, capital goods and Bankex indices remained in the limelight as most buying was seen from these baskets however IT index gave up its last week winning trend to close on a negative note. The BSE Sensex closed higher by 258.13 points at 16,739.33 and NSE Nifty closed up by 78.6 points at 5,037. We expect that the market may give up its yesterday’s gains during the trading session.

On Monday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 24.34 points at 12,825.02 along with S&P fell by 2.16 points to close at 1,388.17 while NASDAQ index grew by 5.07 points to close at 2,408.04.

The Indian ADRS closed mixed. In technology sector, Patni Computers fell by 4.56% along with Satyam by 3.54%, Infosys by 0.93% and Wipro by 0.88%. In banking sector, ICICI bank and HDFC bank grew by (4.58%) and (2.10%) respectively. In telecommunication sector, MTNL increased by (6.06%) while Tata Communication slipped by (1.34%).

Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 245.38 points at 24,476.29 along with Japan’s Nikkei trading down by 153.74 points at 13,542.81 and Taiwan Weighted trading at 9,022.27 down by 61.05 points.

The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs4,067.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,368.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs699.00 Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,913 and resistance at 5,128 and BSE Sensex has support at 16,238 and resistance at 17,063.

Post Session Market

The Indian Markets posted good gains during the trading session to close on a satisfactory note. Tracking the favoring cues from the global markets irrespective of hike in Cash Reserve Ratio (CRR) by 50 bps by Reserve Bank Of India on last Thursday i.e. 17-04-2008. The market opened with decent gains and kept on hovering in the positive territory throughout the trading session. From the Sectoral point, metal, capital goods and Bankex indices remained in the limelight as most buying was seen from these baskets however IT index gave up its last week winning trend to close on a negative note.

The BSE Sensex closed higher by 258.13 points at 16,739.33 and NSE Nifty closed up by 78.6 points at 5,037. The Sensex touched an intraday high of 16,778.59 and low of 16,611.41. The BSE Mid Caps and Small Caps also closed with handsome gains of 146.87 points and 221.47 points at 6,983.26 and 8,752.83 respectively.

Major gainers from the BSE are Dish TV (17.15%), Praj Inds (15.34%), Biocon (12.79%), Shipping Corporation (9.64%), Bajaj Hind (8.97%), Tata Steel (8.61%), Bombay Dyeing (7.52%), Tata Chemicals (7.30%) and JP Associate (7.27%).

The Metal index surged 553.56 points to close at 15,214.69. Major gainers are Tata Steel (8.61%), Jindal Steel (5.07%), SH.Precoated (4.98%), Jindal Stainless (4.87%), SAIL (4.33%), Ispat Inds (3.19%), Nalco (3.09%) and Hindalco (2.95%).

The Capital Goods index advanced by 276.91 points to close at 13,669.39. Scrips that gained are Praj inds (15.34%), Punj Lloyd (5.80%), BEML (4.41%), Alstom Projects (4.36%), ABB (2.88%), L&T (2.49%) and Suzlon Energy (2.09%).

The Bankex index closed up by 284.88 points at 8,580.72. Gainers are Axis bank (6.83%), BOI (4.91%), Union bank (4.74%), BOB (3.66%), CentBOP (3.55%), SBI (3.47%), ICICI bank (3.39%) and Canara bank by (2.38%).

The IT index fell by 42.76 points to close at 4,108.14. Losers are Tech Mahindra (5.40%), Patni Comp (3.38%), Satyam (2.13%), Mphasis (1.32%), Infosys (1.28%), Wipro (1.21%) and TCS (0.83%).

The Oil and Gas index grew by 105.95 points to close at 11,516.98 as Essar Oil (5.35%), Cairn India (2.72%), RPL (2.57%), Aban Offshore (2.23%), ONGC (1.43%), RNRL (1.33%), HPCL (1.19%), IOCL (0.57%) and BPCL (0.30%).

Mid Session Market

The market is still maintained its opening gain and is trading higher as strong buying continued across the board. The Metal, Capital Goods, Consumer Durables and Pharma stocks are in huge demand today. The Mid Cap and Small Cap stocks are also facing the strong buying interest.

On the primary market front, Titagarh Wagons got listed on the bourses today at Rs 604.90 as against its issue price of Rs 540 on the NSE.

The overall market breadth is positive, as 1986 stocks are advancing while 537 stocks are declining and the 44 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 128 points at 6,964 and the BSE small Cap advanced by 204 points to trade at 8,735.

At 12.30 pm, BSE Sensex was at 16,696 up by 215 points and Nifty was at 5,029.95 up by 71.55 points.

BSE Metal index surged by 363.17 points to trade at 15,024.30. The major gainers are Tata Steel (4.32%), SAIL (2.92%), Hindalco Industries (2.67%) and NALCO (2.12%).

BSE Capital goods index advanced by 255.55 points to 13,648.03. The main gainers are Praj Industries (5.21%), Siemens (2.64%), L&T (2.20%) and ABB (1.30%).

BSE Oil & Gas index was trading 146.08 points higher at 11,557.11 as Cairn India (3.10%), RPL (1.60%), ONGC (0.79%) and BPCL (0.25%) are trading in green.

BSE Banks index improved by 87.88 points to trade at 8,383.72. The top gainers are HDFC Bank (2.64%), SBI (0.77%), PNB (0.76%) and ICICI Bank (0.60%).

BSE IT index grew by 31.74 points to trade at 4,182.64 as HCL Technologies (2.22%), Wipro (1.74%), TCS (1.40%) are trading in green.
Satyam Computers reported a 17.8% surge in Q4 net profit for the quarter ended March 31, 2008, at Rs 468.45 crore as against Rs 397.51 crore in the corresponding quarter a year ago. The company''''s FY08 net profit also rose 20.5% to Rs 1,715.74 crore as compared to Rs 1,423.23 crore posted in FY07.
HCL Technologies is looking at the option of expanding its presence in the media and entertainment vertical and for this the company is in talks with a number of broadcasting media houses for a strategic alliance.

BSE Realty index increased by 73.68 points to trade at 7,712.41. Leading to its gain are HDIL (4.63%), Omaxe Ltd. (3.35%), Purvankara (2.75%) and Parsavnath (2.09%).

BSE Power index increased by 52.27 points to trade at 3,296.49 as Suzlon Energy (3.33%), Power Grid (2.94%), Tata Power (2.08%) and Reliance Energy (1.65%) are trading in positive.
Suzlon Energy’s subsidiary Suzlon Energy (Tianjin) Limited has bagged two orders totaling nearly 200mw of capacity for wind farm projects in China. This project is worth over Rs1000 crore.
Reliance Energy’s shareholders have approved the buyback of shares along with change in name and waiving the company’s entitlement to receive bonus shares, which was proposed by Reliance Power.

BSE Auto index inclined by 59.72 points to trade at 4,569.53. Leading to its gain are TVS Motor (3.07%), Maruti Suzuki (1.85%), Hero Honda (1.84%) and Tata Motors (1.26%).

BSE Health Care index inclined by 67.90 points to trade at 4,152.84 as Biocon (11.06%), Sn Pharma (5.11%), Ranbaxy Lab. (3.17%) and Divi’s Lab (2.07%) are trading in positive.

Pre Session Market

The Indian Market is likely to have a positive opening due to firm cues from the global markets. On Thursday, the Indian market closed with good gains on the back of heavy buying across the sectoral indices. Tracking the strong favoring cues from the global markets, the domestic market opened with a bang and kept of hovering in the positive territory throughout the trading session. Also, lower than expected inflation figures that stood at 7.14% for the week ended 5 April 2008 as against 7.41% last week gave a boost to the investor’s sentiment. The Small Cap and Mid Cap also remained the centre of attraction as most buying was also seen from these baskets. From the sectoral point, Metal, Realty and Bankex indices posted heavy gains. The BSE Sensex closed higher by 237.01 points at 16,481.20 and NSE Nifty closed up by 71.1 points at 4,958.40. We expect that the market will see some bull run during the trading session.

On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 228.87 points at 12,849.36 along with NASDAQ closed up by 61.14 points at 2,402.97 and S&P index grew by 24.77 points to close at 1,390.33.

The Indian ADRS closed in positive territory. In technology sector, Satyam grew by 7.31% along with Wipro by 5.43%, Infosys by 4.95% and Patni Computers by 2.11%. In banking sector, HDFC Bank and ICICI bank advanced by (2.53%) and (2.25%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (3.18%) and (2.72%) respectively.

Today the major stock markets in Asia are trading firm. Hang Seng index is trading up by 568.92 points at 24,766.70 along with Japan’s Nikkei trading higher by 221.24 points at 13,697.69 and Taiwan Weighted trading at 9,115.08 up by 40.74 points.

Today, Nifty has support at 4,910 and resistance at 5,093 and BSE Sensex has support at 16,242 and resistance at 17,076.

Post Session Market

The Indian market closed with good gains on the back of heavy buying across the sectoral indices. Tracking the strong favoring cues from the global markets, the domestic market opened with a bang and kept of hovering in the positive territory throughout the trading session. Also, lower than expected inflation figures that stood at 7.14% for the week ended 5 April 2008 as against 7.41% last week gave a boost to the investor’s sentiment. The Small Cap and Mid Cap also remained the centre of attraction as most buying was also seen from these baskets. From the sectoral point, Metal, Realty and Bankex indices posted heavy gains.

The BSE Sensex closed higher by 237.01 points at 16,481.20 and NSE Nifty closed up by 71.1 points at 4,958.40. The Sensex touched an intraday high of 16,570.57 and low of 16,397.17. The BSE Mid Caps and Small Caps closed up by 137.29 points and 180.22 points at 6,836.39 and 8,531.36 respectively.

The Indian stock market will remain closed tomorrow (18-04-2008) for the celebration of Mahavir Jayanti.

Major gainers from the BSE are Chambal Fert up by (23.11%), Tata Tele (14.58%), Naga Fert (12.91%), I-Flex (12.60%), Ispat inds (10.77%), Lanco Infra (10.45%), HDIL (9.25%), Vijaya bank (8.30%), Indus Ind Bank (8.09%) and India bull Real (7.98%).

The Metal index surged 526.81 points to close at 14,661.13. Scrips that jumped are Ispat inds (10.77%), Hind Zinc (7.01%), SAIL (5.62%), Hindalco inds (5.58%), JSW Steel (4.70%), Jindal Steel (4.40%), Gujarat NRE Coke (3.68%) and Tata Steel (3.55%).

The Bankex index closed up by 252.13 points at 8,295.84. Major gainers are HDFC bank (6.95%), Oriental bank (6.83%), BOI (6.42%), CentBOP (5.63%), Allahabad bank (4.99%), Axis bank (4.82%) and Andhra bank (3.54%).

The IT index grew by 144.40 points to close at 4,150.90. Gainers are I-Flex (12.60%), Patni Computers (5.22%), Karut Net (4.69%), Moser Baer (4.45%), Niit techno (4.24%), Satyam (3.28%), Wipro (2.65%).

The Oil and Gas index fell by 10.99 points to close at 11,411.03 as Cairn India (1.90%), HPCL (1.87%), RNRL (1.49%) and RPL (1.1%) closed in green while Gail India (1.83%), IOCL (0.89%), Reliance Inds (0.30%) closed in red.

The Capital Goods index grew by 40.42 points to close at 13,392.48. Scrips that grew are Kirloskar BR (5.69%), Lakshmi Machines (4.36%), BEML (4.10%), Praj Inds (4.09%), Suzlon Energy (3.35%) and Alstom projects (2.5%).

Mid Session Market

The market is still maintained its opening gain a strong buying continued across the board. The inflation number that came out today that showed a sharp cool off in numbers after eight weeks of steady rise cheers the investors. The inflation number for the week ended April 5 stood at 7.14% as against earlier 7.41%. The IT, Realty, Metal and Bank stocks are the hot performers of the day. The Mid Cap and Small Cap stocks have maintained their opening gains and are trading strongly.

The overall market breadth is positive, as 1922 stocks are advancing while 622 stocks are declining and the 55 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 110.46 points at 6,809.56 and the BSE small Cap advanced by 136.27 points to trade at 8,487.41.

At 12.30 pm, BSE Sensex was at 16,470.45 up by 226.26 points and Nifty was at 4,953.05 up by 65.75 points.

BSE Metal index advanced by 415.98 points to trade at 14,550.30. The major gainers are SAIL (4.32%), Hindalco Industries (2.82%), Tata Steel (2.60%) and NALCO (2.44%).

BSE Banks index improved by 277.74 points to trade at 8,321.45. The top gainers are ICICI Bank (3.43%), HDFC Bank (2.75%), SBI (2.04%) and PNB (1.7%).

BSE IT index grew by 155.05 points to trade at 4,161.55 as Infosys Technologies (4.88%), Wipro (3.80%), HCL Technologies (3.07%), Satyam Computer (2.64%) and TCS (2.57%) are trading in green.

BSE Oil & Gas index was trading 141.90 points higher at 11,563.92 as Cairn India (2.37%), RPL (1.62%) and ONGC (0.39%) are trading in green.

BSE Realty index increased by 251.12 points to trade at 7,597.08. Leading to its gain are India Bull Real (5.43%), HDIL (5.23%), DLF (3.72%) and Parsavnath (3.70%).
DLF plans an integrated township named DLF Garden City with an area of 34 acres at Panchkula. This project is a residential project which would offer 2,3 and 4 bedroom hall kitchen apartments with an area of 1250 sq ft, 1550 sq.ft and 2250 sq ft respectively.

BSE Capital goods index advanced by 155.58 points to 13,507.64. The main gainers are Praj Industries (4.19%), Punj Lloyd (4.27%), BEML (3.98%) and Bharat Electrical (1.40%).

BSE Power index increased by 56.63 points to trade at 3,264.44 as Tata Power (3%), NTPC (2.14%), Suzlon Energy (1.72%) and Reliance Energy (1.11%) are trading in positive.

BSE Auto index inclined by 43.03 points to trade at 4,509.20. Leading to its gain are TVS Motor (2.11%), Mahindra & Mahindra (1.01%), Maruti Suzuki (0.53%) and Tata Motors (0.81%).

BSE Health Care index inclined by 37.23 points to trade at 4,101.20 as Aventis Pharma (3.31%), Divi’s Lab (1.50%), Cipla (1%) and Sun Pharma (0.66%) are trading in positive.

Pre Session Market

The Indian Market , is likely to have a positive opening today due to strong favoring cues from the global markets. On Wednesday, the Indian market after giving up most of its initial gains closed marginally above the previous day closing. Though the market opened on a strong note backed by favoring cues from the global markets but was unable to sustain at higher levels and gave up most of its gains as the profit booking prevails. However the small caps and mid caps posted good gains across the counters. The BSE Sensex closed higher by 90.53 points at 16,244.19 and NSE Nifty closed up by 7.65 points at 4,887.30. We expect that the market will gain some grounds and will continue its yesterday’s rally during the trading session.

The Indian stock market will remain closed tomorrow (18-04-2008) for the celebration of Mahavir Jayanti.

On Wednesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 256.80 points at 12,619.27 along with NASDAQ closed up by 64.07 points at 2,350.11 and S&P index grew by 30.28 points to close at 1,364.71.

The Indian ADRS closed in positive. In technology sector, Patni Computers grew by 6.20% along with Infosys 3.05%, Wipro 2.93% and Satyam 0.12%. In banking sector, HDFC Bank and ICICI bank advanced by (5.07%) and (4.20%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (2.81%) and (2.39%) respectively. Sterlite industries increased by (3.70%).

Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading higher by 306.10 points at 13,452.23 along with Hang Seng index trading up by 402.41 points at 24,280.76 and Taiwan Weighted trading at 9,127.13 up by 60.09 points. Singapore Strait Times trading up by 55.58 points at 3,143.07.

The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs3,544.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,463.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs80.90 Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,841 and resistance at 5,043 and BSE Sensex has support at 15,921 and resistance at 16,837.

Post Session Market

The Indian market gave up most of its initial gains towards the final trading hours of the session to close with marginally above the previous day closing. Though the market opened on a firm note tracking the favoring cues from the global markets but was unable to sustain at higher levels and gave up most of its gains as the profit booking prevails. From the sectoral front, the IT stocks ruled the market for the second consecutive day following the announcement of quarterly results by Infosys. However the small caps and mid caps posted good gains across the counters.

The BSE Sensex closed higher by 90.53 points at 16,244.19 and NSE Nifty closed up by 7.65 points at 4,887.30. The Sensex touched an intraday high of 16,413.80 and low of 16,198.56. The BSE Mid Caps and Small Caps closed up by 94.68 points and 146.75 points at 6,699.10 and 8,351.14 respectively.

The market breadth was strong as 1864 stocks closed in green as against 816 stocks that closed in red.

Major gainers from the BSE are Bombay Dyeing up (16.70%) along with Chambal Fert (9.32%), GTL Infra (8.44%), Naga Fert (6.97%), Tech Mahindra (6.65%), Century Textiles (6.57%) and Lanco Infra (6.13%).

The IT index surged 144.02 points to close at 4,006.50. Major gainers are Aptech (14.53%), Tech Mahindra (6.65%), NIIT Ltd (6.21%), HCL Tech (5.98%), Infosys (5.90%), Wipro (5.35%).

The Metal index jumped by 116.68 points to close at 14,134.32. Scrips that grew are Sesa Goa (5.46%), Jindal Saw (4.62%), JSW Steel (3.67%), SH. Precoated (2.97%), Bhushan Steel (2.59%), SAIL (1.28%), Jindal Steel (1.21%).

The Oil and Gas index grew by 88.09 points to close at 11,422.02. Gainers are Aban Offshore (3.98%), Cairn India (3.21%), RNRL (1.61%), Gail India (1.51%), Reliance inds (1.38%) and Essar Oil (0.53%).

The Bankex index closed up by 41.31 points at 8,043.71. Scrips that gained are Kotak bank (5%), Andhra bank (2.59%), Canara bank (1.60%), Axis bank (1.54%) and Oriental bank (1.38%).

The Capital Goods index fell by 69.53 points to close at 13,352.06. Losers are Bhel (3.22%), Kir oil (2.83%), Jyoti Structures (1.23%), ABB (1.13%), Suzlon Energy (0.99%) and L&T (0.29%).

Mid Session Market

The market is now off the day’s high but is still trading higher as supportive buying continued across the board. The strong buying is seen in the IT, Consumer Durables, Oil & Gas and Realty stocks. The Mid Cap and Small Cap stocks have maintained their opening gains and are trading with satisfactory gains.

The overall market breadth is positive, as 1883 stocks are advancing while 593 stocks are declining and the 74 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 111.46 points at 6,715.88 and the BSE small Cap advanced by 161.19 points to trade at 8,365.58.

At 12.30 pm, BSE Sensex was at 16,307.52 up by 153.86 points and Nifty was at 4,909.35 up by 29.70 points.

BSE Metal index advanced by 240.20 points to trade at 14,257.84. The major gainers are Sesa Goa (4.23%), JSW Steel (3.36%), Ispat Industries (2.74%) and SAIL (2.25%).
As Rashtriya Ispat Nigam Ltd increased the prices of all its products by Rs6000 a tonne, so this set the path for Steel Authority of India to hike the prices, which it had held back for the past week.

BSE IT index surged by 183.70 points to trade at 4,046.18 as HCL Technologies (6.94%), Satyam Computers (5.76%), Infosys Technologies (5.70%), Wipro (2.59%) and TCS (1.44%) are trading in green.
HCL Technologies on Tuesday has declared its third quarter results. The company has posted a net profit of Rs. 263crore in the third quarter ended March 31, 2008, registered over 10% increase from the year-ago.

BSE Oil & Gas index was trading 143.90 points higher at 11,477.83 as Cairn India (3.27%), GAIL India (1.56%) and RPL (1.05%) are trading in green.

BSE Realty index increased by 107.97 points to trade at 7,446.93. Leading to its gain are Mahindra Life (5.92%), Omaxe Ltd. (5.58%), Parsavnath (4.52%) and HDIL (2.86%).

BSE Banks index improved by 80.76 points to trade at 8,083.16. The top gainers are Kotak bank (3.26%), ICICI Bank (2.23%), Andhra Bank (2.33%) and Canara Bank (2.22%).

BSE Capital goods index advanced by 24.91 points to 13,446.50. The main gainers are Praj Industries (2.92%), BEML (1.83%), Punj Lloyd (1%) and L&T (0.58%).

BSE Health Care index inclined by 32.15 points to trade at 4,081.50 as Cadila Healthcare (3.76%), Glenmark Pharma (2.14%), Ranbay Lab. (1.63%) and Glenmark Pharma (2.14%) are trading in positive.

BSE Power index increased by 14.36 points to trade at 3,238.10 as Torent Power (3.34%), Reliance Energy (3.14%), GVK Power (1.70%) and Tata Power (1.65%) are trading in positive.
Morgan Stanley has increased its stake in Reliance Energy by over 5% for Rs53.1 crore. It has acquired 461,563 shares, which is 0.20% stake in REL on April 8, which was calculated on the basis of the closing price of REL.

BSE Auto index inclined by 6.05 points to trade at 4,470.98. Leading to its gain are TVS Motors (0.29%), Ashok Leyland (0.13%), Maruti Suzuki (0.21%) and Hero Honda (0.04%).

Pre Session Market

The Indian Market is likely to have a positive opening today due to favoring cues from the global markets. On Tuesday, the Indian market closed on a firm note and the declaration of results by Infosys gave a boost to the market and it gave a good medium term outlook by increasing the dividend payout ratio to 30% of net profit from 20% currently. Though the market opened on a weak note but managed to recover soon after the declaration of the quarterly results by Infosys. The company represented a marginal growth of 1.46% in net profit to Rs1249 crore for the quarter ended December 2007 as compared to Rs1231 crore reported last year while the yearly net profit grew by 21% to Rs4659 crore as against Rs3856 crore previous year. The BSE Sensex closed higher by 346.02 points at 16,153.66 and NSE Nifty closed up by 101.85 points at 4,879.65. We expect that the market may edge higher during the trading session.

On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 60.41 points at 12,362.47 along with NASDAQ closed up by 10.22 points at 2,286.04 and S&P index grew by 6.11 points to close at 1,334.43.

The Indian ADRS closed in positive territory. In technology sector, Satyam grew by (8.86%) along with Infosys by (8.51%), Patni Computers by (5.55%) and Wipro by (4.04%). In banking sector, ICICI bank and HDFC Bank advanced by (5.26%) and (4.78%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (5.02%) and (4.36%) respectively. Sterlite industries advanced by (4.06%).

Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 184.04 points at 13,174.62 along with Hang Seng index trading up by 104.73 points at 24,006.06 and Taiwan Weighted trading at 9,018.20 up by 93.42 points. Singapore Strait Times trading higher by 29.99 points at 3,086.48.

The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,688.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,720 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs31.30 Crore) and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,806 and resistance at 4,996 and BSE Sensex has support at 15,847 and resistance at 16,594.

Post Session Market

The Indian market closed with handsome gains as Infosys came out with quarterly numbers and it gave a good medium term outlook by increasing the dividend payout ratio to 30% of net profit from 20% currently. Though the market opened on a weak note but managed to recover soon after the declaration of the quarterly results by Infosys. The company represented a marginal growth of 1.46% in net profit to Rs1249 crore for the quarter ended December 2007 as compared to Rs1231 crore reported last year while the yearly net profit grew by 21% to Rs4659 crore as against Rs3856 crore previous year. From the sectoral front, Oil & Gas and IT stocks reported most buying.

The BSE Sensex closed higher by 346.02 points at 16,153.66 and NSE Nifty closed up by 101.85 points at 4,879.65. The Sensex touched an intraday high of 16,249.46 and low of 15,573.03. The BSE Mid Caps and Small Caps also closed up by 81.20 points and 122.96 points at 6,604.42 and 8,204.39 respectively.

The market breadth was strong as 1784 stocks closed in green as against 875 stocks that closed in red.

The IT index closed higher by 203.10 points at 3,862.48. Major gainers are TCS (7.37%), Mphasis (7.10%), HCL Tech (6.78%), Patni Comp (6.28%), Wipro (4.52%), Satyam (4.35%), Niit Techno (3.29%).

The Oil and Gas index surged 305.18 points to close at 11,333.93. Major gainers are Essar oil (8.65%), RNRL (6.61%), BPCL (3.84%), ONGC (2.45%), Reliance inds (2.30%), Aban offshore (2.11%) and IOCL (1.95%).

The Capital Goods index closed up by 154.08 points at 13,421.59. Gainers are Kirloskar BR (6.86%), Alstom Projects (5.61%), ABB (4%), Areva (3.82%), Kirloskar oil (3.1%), Praj inds (1.64%) and L&T (1.18%).

The Metal index advanced by 51.26 points to close at 14,017.64. Scrips that gained are JSW Steel (4.16%), Sterlite inds (2.24%), Jindal Stainless (1.81%), Jindal Steel (1.66%), Ispat inds (1.04%).

The BSE Power index increased by 59.35 points to close at 3,223.74 as Reliance Power (6.37%), ABB (4%), Areva (3.82%), NTPC (2.65%), Siemens (2.56%), Tata Power (2.47%) closed in green.

The Bankex index closed up by 101.43 points at 8,002.40. Scrips that grew are Kotak bank (5.97%),Yes bank (3.39%), Union bank (2.85%), ICICI bank (2.34%), PNB (2.27%), Axis bank (1.73%).

Mid Session Market

The market is now trading higher from the initial fall as significant buying witnessed in the IT, Health Care, Realty and Power stocks. The IT stocks are in huge demand today after the IT bellwether Infosys Technologies announced its fourth quarter along with FY08 numbers, which are inline with the expectations. Further the broader market is also trading higher in line with the benchmark index.

The overall market breadth is positive, as 1490 stocks are advancing while 927 stocks are declining and the 60 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 57.68 points at 6,580.90 and the BSE small Cap advanced by 82.67 points to trade at 8,164.10.

At 12.30 pm, BSE Sensex was at 15,997.49 up by 189.85 points and Nifty was at 4,839.45 up by 61.65 points.

BSE IT index surged by 159.07 points to trade at 3,818.45 as Infosys Technologies (5.49%), HCL Technologies (4.78%), TCS (4.74%), Wipro (3.94%) and Satyam Computers (3.23%) are trading in green.
Infosys Technologies today has announced its fourth quarter results and financial year 2008 numbers. For the quarter ended March 2008, the company posted a net profit of Rs 1249 crore as compared with Rs 1231 crore in the previous quarter. It has posted FY08 net profit of Rs 4659 crore as against Rs 3856 crore in FY07 and net sales at Rs 16692 crore versus Rs 13893 crore.
Satyam Computer in order to expand its presence in Australia is setting up of a 2,000-seater campus in Victoria. The campus will have a software development centre and facilities for R&D and training, will be able to house 2,000 employees in the next few years

BSE Oil & Gas index was trading 21.28 points higher at 11,050.03 as RPL (2.91%), Essar Oil (2.36%), ABN Offshore (2.30%) and RNRL (1.11%) are trading in green.

BSE Capital goods index advanced by 46.04 points to 13,313.55. The main gainers are Punj Lloyd (2.64%), Praj Industries (2.21%), ABB (1.16%) and BEML (0.61%).

BSE Health Care index inclined by 77.17 points to trade at 3,996.44 as Ranbaxy Lab. (7.42%), Dr.Reddy (1.35%) and Cipla (0.47%) are trading in positive.

BSE Power index increased by 17.25 points to trade at 3,181.64 as Reliance Power (4.19%), Suzlon Energy (1.95%), Tata Power (1.60%) and Torent Power (0.84%) are trading in positive.
Tata Power will set up 30mw gas based power plant in Haldia to meet the requirements of Hooghly Met Coke & Power plants. This is a part of company’s plans to set up 120 mw gas based generation units with an investment of Rs500 crore in Haldia.

BSE Auto index inclined by 15.60 points to trade at 4,442.66. Leading to its gain are TVS Motor (3.99%), Maruti Suzuki (0.73%), Ashok Leyland (0.79%) and Tata Motors (0.16%).

BSE Realty index increased by 60.65 points to trade at 7,256.36. Leading to its gain are Purvankara (4.89%), DLF (2.34%), Parsavnath (2.23%) and Sobha Developers (1.43%).

BSE Metal index fell by 61.43 points to trade at 13,904.95. The major losers are Gujarat NRE (2.67%), SAIL (1.70%), Ispat Industries (1.04%) and Jindal Saw (0.71%).

BSE Banks index dropped by 63.83 points to trade at 7,837.14. The top losers are Yes Bank (2.88%), Bank of India (1.27%), Canara Bank (0.69%), Andhra Bank (0.90%) and Axix Bank (0.30%).

Pre Session Market

The Indian Market is likely to have a positive opening today due to favoring cues from the Asian markets. On Friday The Indian market closed higher tracking the favoring the cues from the global markets as well as from the domestic arena like the strong IIP figures that grew by 8.6% in February 2008 as against previous month growth of 5.8%. The market opened with a with heavy gains but it tumbled in the middle due to high inflation figures that rose 7.41% for the week ended 29 March 2008 as against the previous week rise of 7%. From the sectoral front, the capital goods and Oil and Gas stocks remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed higher by 112.54 points at 15,807.64 and NSE Nifty closed up by 44.8 points to close at 4,777.80. We expect that the market may remain range bound during the trading session and the declaration of quarterly results by Infosys may give further direction to the market.

On Monday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 23.36 points at 12,302.06 along with NASDAQ fell by 14.42 points to close at 2,275.82 and S&P index dropped by 4.51 points to close at 1,328.32.

The Indian ADRS closed mixed. In technology sector, Infosys grew by (2.09%) along with Wipro by (1%) while Patni Computers and Satyam dropped by (1.23%) and (0.83%) respectively. In banking sector, HDFC bank and ICICI bank fell by (2.76%) and (1.90%) respectively. In telecommunication sector, MTNL and Tata Communication decreased by (1.83%) and (0.70%) respectively. Sterlite industries fell by (0.56%).

Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 125.49 points at 13,043 along with Hang Seng index trading up by 59.84 points at 23,871.04 and Taiwan Weighted trading at 8,914.70 up by 22.02 points.

The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs2,674.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,989.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs314.80 Crore) and net debt was Rs0.00 Crore.

Today Infosys stock will remain in the limelight as the company is going to announce its quarterly results today.

Today, Nifty has support at 4,673 and resistance at 4,869 and BSE Sensex has support at 15,521 and resistance at 16,169.

Post Session Market

The Indian market closed on a firm note tracking the favoring the cues from the global markets as well as from the domestic arena like the strong IIP figures that grew by 8.6% in February 2008 as against previous month growth of 5.8%. The market opened with a with heavy gains but it tumbled in the middle due to high inflation figures that rose 7.41% for the week ended 29 March 2008 as against the previous week rise of 7%. From the sectoral front, the capital goods and Oil and Gas stocks remained in the limelight as most buying was seen from these baskets.

The BSE Sensex closed higher by 112.54 points at 15,807.64 and NSE Nifty closed up by 44.8 points to close at 4,777.80. The Sensex touched an intraday high of 15,957.24 and low of 15,673.67. The BSE Mid Caps and Small Caps also closed up by 44.26 points and 50.37 points at 6,523.22 and 8,081.43 respectively.

The market breadth was strong as 1637 stocks closed in green as against 1050 stocks that closed in red.

The Capital Goods index surged 368.38 points at 12,899.13. Major gainers are Areva (6.62%), Kirlosker oil (6.05%), Thermax (5.24%), Punj Lloyd (4.45%), L&T (3.57%), Siemens (3.54%) and ABB (1.90%).

The Oil and Gas index closed up by 302.01 points at 11,028.75. Gainers are Aban Offshore by (5.43%), Cairn India by (4.38%), Gail India (3.87%), Essar Oil (3.81%), RPL (3.68%) and Reliance industries by (3.34%).

The Metal index grew by 111.43 points to close at 13,966.38. Scrips that gained are Jindal Stainless (3.63%), Jindal Steel (2.87%), Hind Zinc (2.85%), Hindalco inds (1.67%), SAIL (0.93%) and Tata Steel (0.92%).

The BSE Power index increased by 64.36 points at 3,164.39. Scrips that grew are Areva (6.62%), CESC (4.13%), Tata Power (3.95%), Siemens (3.54%), GVK Power (3.13%) and Reliance Energy (2.22%).

The Bankex index fell by 50.63 points to close at 7,900.97. Losers are Yes bank (2.57%), Axis bank (2.01%), ICICI bank (1.56%), Kotak bank (1.53%), Andhra bank (1.47%) and BOI (1.43%).

The IT index closed lower by 17.25 points at 3,659.38 as I-Flex (6.87%), Karut Net (4.82%), GTL Ltd (4.06%), Niit Techno (2.67%), Satyam (2.30%) and Niit Ltd (2.29%) closed in green while HCL tech (2.93%), Infosys (2.13%) and Mphasis (0.66%) closed in red.

Mid Session Market

The market is now trading higher as significant buying witnessed in the Capital Goods, Power, Oil & Gas and Realty stocks. The BSE Mid Cap and Small Cap stocks are trading with firm with significant gains. The market reacted minutely to the inflation numbers that came out today. The wholesale price index rose to 7.41% in 12 months to 29 March 2008, from the previous week''s annual rise of 7%. The analyst were expecting of 7%-7.2%. The rate is the highest reading since 13 November 2004.

The overall market breadth is positive, as 1621 stocks are advancing while 818 stocks are declining and the 66 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 59 points at 6,538 and the BSE small Cap advanced by 66 points to trade at 8,097.

At 12.30 pm, BSE Sensex was at 15,950 up by 255 points and Nifty was at 4,815.55 up by 82.55 points.

BSE Oil & Gas index was trading 170.66 points higher at 10,897.40 as Cairn India (3.32%), Gail India (2.11%), RPL (1.70%) and BPCL (1.54%) are trading in green.
BPCL is trading higher by (1.88%) at Rs394.75. The company is planning to take non-petroleum revenue to a new level by setting up highway fuel station integrated with cinema halls and restaurants. It is keen to expand its non-petroleum business from the current turnover of Rs550 crore to touch Rs1,500 crore by 2011.

BSE Capital goods index surged by 266.15 points to 13,165.28. The main gainers are Siemens (3.17%), L&T (2.34%), BHEL (2.04%) and ABB (1.46%).

BSE Metal index grew by 17.05 points to trade at 13,872. The major gainers are Hindalco Industries (2.19%), Jindal Steel (2.31%), Sterlite Industries (1.24%) and Nalco (0.78%).

BSE Banks index dropped by 9.58 points to trade at 7,42.02. The top losers are Yes Bank (2.88%), Bank of India (1.27%), Canara Bank (0.69%), Andhra Bank (0.90%) and Axix Bank (0.30%).

BSE Health Care index inclined by 3.74 points to trade at 3,926.30 as Dr. Reddy (2.76%), Divi’s Lab (1.84%), Glaxosmith (0.62%) and Cipla (0.65%) are trading in positive.

BSE Power index increased by 57.85 points to trade at 3,157.88 as Tata Power (4.45%), GVK Power (4.41%), Reliance Energy (2.76%) and Suzlon Energy (2.52%) are trading in positive.
Tata Power is trading higher by (3.25%) at Rs1238 as the company will set up 30mw gas based power plant in Haldia to meet the requirements of Hooghly Met Coke & Power plants. This is a part of company’s plans to set up 120 mw gas based generation units with an investment of Rs500 crore in Haldia.

BSE IT index grew by 2.47 points to trade at 3,679.10 as I-flex (8.02%), Satyam Computer (2.73%), TCS (2.08%), Wipro (1.32%) and Tech Mahindra (0.25%) are trading in green.
TCS is trading up by (1.67%) at Rs915 as the company has signed a new multi-year contract with car manufacturer Chrysler to provide a portfolio of IT services. The company will deliver IT application and maintenance support services to Chrysler. It also involves several functional areas such as sales & marketing, shared services, product development and after sales.

BSE Auto index inclined by 22.79 points to trade at 4,425.91. Leading to its gain are Mahindra & Mahindra (1.27%), Maruti Suzuki (0.91%) and Tata Motors (0.79%).

BSE Realty index increased by 70.01 points to trade at 7,286.41. Leading to its gain are Mahindra Life (2.90%), Purvankara (2.12%) and Unitech (1.20%).

Pre Session Market

The Indian Market is likely to have a positive opening today due to favoring cues from the global markets. On Thursday, the Indian Market tumbled in the final trading hours of the session and gives all its gains to close in a negative territory. Tracking the mixed cues from the Asian markets, the domestic market opened with a gap down but sudden gathered the momentum as he buying intensified across the selective indices. However, industrial production data and weekly inflation, which is due tomorrow, led to heavy selling towards the end. From the sectoral front, Oil & Gas attracts investor’s confidence as most buying was seen from these baskets while bankex index faced heavy selling pressures. The BSE Sensex closed lower by 95.41 points at 15,695.10 and NSE Nifty fell by 14.05 points to close at 4,733. We expect that the declaration of the inflation figures by the government will give direction to the market. Also the long weekend ahead will led the investors to take calculative steps.

On Thursday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 54.72 points at 12,581.98 along with NASDAQ closed up by 29.58 points at 2,351.70 and S&P index closed at 1,360.55 up by 6.06 points.

The Indian ADRS closed mixed. In technology sector, Satyam grew by 4.14% along with Patni computers by 1.29%, Infosys 0.69% and Wipro by 0.53%. In banking sector, ICICI bank and HDFC bank dropped by (2.38%) and (0.37%) respectively. In telecommunication sector, Tata Communication decreased by (4.79%). Sterlite industries grew by (0.77%).

Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading higher by 272.98 points at 13,218.28 along with Hang Seng index trading up by 177.14 points at 24,364.24 and Taiwan Weighted trading at 8,879.66 up by 50.26 points and Singapore Strait Times trading up by 25.19 points at 3,089.79.

The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs2,040.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,213.00 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs172.30 Crore) and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,605 and resistance at 4,857 and BSE Sensex has support at 15,301 and resistance at 16,082.

Post Session Market

The Indian Market tumbled in the final trading hours of the session and gives all its gains to close in a negative territory. Tracking the mixed cues from the Asian markets, the domestic market opened with a gap down but sudden gathered the momentum as he buying intensified across the selective indices. However, industrial production data and weekly inflation, which is due tomorrow, led to heavy selling towards the end. From the sectoral front, Oil & Gas attracts investors confidence as most buying was seen from these baskets while bankex index faced heavy selling pressures.

The BSE Sensex closed lower by 95.41 points at 15,695.10 and NSE Nifty fell by 14.05 points to close at 4,733. The Sensex touched an intraday high of 15,953.54 and low of 15,655.20. The BSE Mid Caps and Small Caps also closed up by 7.45 points and 89.95 points at 6,478.96 and 8,031.06 respectively.

The market breadth was strong as 1715 stocks closed in green as against 948 stocks that closed in red.

The Oil and Gas index closed higher by 155.71 points at 10,726.74. Major gainers are Cairn India (5.74%), RPL (3.17%), Essar Oil (2.11%), Reliance industries (2.05%), Aban Offshore (1.63%) and RNRL (1.33%).

The Metal index grew by 75.99 points to close at 13,854.95. Gainers are Bhushan Steel (9.01%), Sesa Goa (3.13%), SAIL (2.23%), Welspun Gujarat (1.41%), Tata Steel (1.03%), Jindal Saw (0.64%) and Hind Zinc (0.56%).

The Capital Goods index closed up by 36.66 points at 12,899.13. Scrips that grew are Areva (5.48%), Thermax (3.36%), Punj Lloyd (2.49%), Kirloskar BR (2.25%), BEML (1.61%), L&T (1.55%) and Siemens (1.43%).

The Bankex index declined by 240.66 points to close at 7,951.60. Major losers are ICICI bank (4.25%), HDFC bank (3.67%), Kotak bank (3.43%), Federal bank (3.22%), Yes bank (2.77%), SBI (1.87%) and Union bank (1.12%).

The IT index fell by 28.46 points to close at 3,676.63 as Niit techno (2.60%), Niit ltd (2.60%), Mosear Baer (2.28%), Patni Comp (1.78%), Aptech (1.30%), Wipro (1.23%), Satyam (0.95%), Rolta (0.64%) closed in red.

The BSE Realty index dropped by 76.36 points to close at 7,216.40. Losers are Penland (4.66%), HDIL (3.38%), Indbul Real (1.93%), DLF (1.63%), Sobha Developers (0.58%) and Parsvnath (0.10%).

Mid Session Market

The market is now trading higher. The significant buying witnessed in the Oil & Gas, Consumer Durables, Power and Auto stocks. However, the banking stocks are still under pressure. The BSE Mid Cap and Small Cap stocks are also trading with sati factory gains and have outperformed the benchmark index.

The overall market breadth is positive, as 1716 stocks are advancing while 684 stocks are declining and the 83 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 56.18 points at 6,527.69 and the BSE small Cap advanced by 119.74 points to trade at 8,060.85.

At 12.30 pm, BSE Sensex was at 15,817.15 up by 26.64 points and Nifty was at 4,774.95 up by 27.90 points.

BSE Oil & Gas index was trading 142.62 points higher at 10,713.65 as Cairn India (4.37%), RPL (4.12%), BPCL (3.54%) and Gail India (0.93%) are trading in green.
BPCL is planning to take non-petroleum revenue to a new level by setting up highway fuel station integrated with cinema halls and restaurants. It is keen to expand its non-petroleum business from the current turnover of Rs550 crore to touch Rs1,500 crore by 2011.

BSE Capital goods index advanced by 33.47 points to 12,895.94. The main gainers are Punj Lloyd (2.78%), Praj Industries (1.74%), Siemens (1.37%), ABB (1.69%) and L&T (0.38%).

BSE Metal index slipped by 21.06 points to trade at 13,757.97. The major losers are Jindal Steel (2.11%), Tata Steel (0.43%), Jindal Stainless (0.29%) and Ispat Industries (0.17%).

BSE Banks index dropped by 95.34 points to trade at 8,096.92. The top losers are Kotak Bank (2.21%), Centurion Bank of Punjab (1.46%), ICICI Bank (1.41%), Union Bank (0.89%) and Federal Bank (0.34%).

BSE Health Care index inclined by 10.12 points to trade at 3,973.99 as Divi’s Lab (6%), Cadila Heathcare (2.96%), Sun Pharma (1.48%) and Biocon (0.80%) are trading in positive.

BSE Power index increased by 17.69 points to trade at 3,105.62 as Reliance Energy (5.71%), GVK Power (2.83%), Tata Power (1.78%) and Power Grid (1.20%) are trading in positive.

BSE IT index grew by 6.67 points to trade at 3,711.76 as TCS (2.86%), Tech Mahindra (1.87%), Satyam Computers (1.68%) and Wipro (1.53%) are trading in green.
TCS has signed a new multi-year contract with car manufacturer Chrysler to provide a portfolio of IT services. The company will deliver IT application and maintenance support services to Chrysler. It also involves several functional areas such as sales & marketing, shared services, product development and after sales.

BSE Auto index inclined by 26.45 points to trade at 4,444.10. Leading to its gain are Mahindra & Mahindra (2.08%), TVS Motors (1.64%), Tata Motors (1%) and Maruti Suzuki (0.35%).
Tata Motors is planning to expand its business in Africa by setting up assembly facilities, mainly for its commercial vehicles.

BSE Realty index dropped by 13.88 points to trade at 7,278.88. Leading to its fall are IndiaBull Real (3.08%), Penland (2.10%) and DLF (0.41%).

Pre Session Market

The Indian Market is likely to have a negative opening today as the US market closed in red. On Wednesday, the Indian market closed in green after making a smart recovery in the final trading hours of the session on the back of heavy buying across the counters. After facing the volatility throughout the trading session, the market finally managed to close on a good note. Though the opening was weak but buying at the lower levels led the market to closed above the dotted line. From the sectoral front, the capital goods, metal and bankex stocks remained in the light as most buying was seen from these baskets. As per the reports, the Finance minister held talks with the representatives capital goods sector of both the public and private sector regarding the slowdown of the industrial production. The BSE Sensex closed higher by 202.89 points at 15,790.51 and NSE Nifty grew by 37.4 points to close at 4,747.05. We expect that the market may remain cautious during the trading session as the International Monetary Fund (IMF) projects mild US recession ahead.

On Wednesday, the US market closed in negative. The Dow Jones Industrial Average (DJIA) fell by 49.83 points to close at 12,527.26 along with S&P index closed lower by 11.05 points at 1,354.49 and NASDAQ dropped by 26.64 points to close at 2,322.12.

The International Monetary Fund (IMF) forecast that US economy would fall into a “mild recession” which increases the chances of more interest rate cut by the Federal Reserve. The IMF in its twice-yearly survey predicted that US economy would see a growth of marginal 0.5% in 2008 and the report also cited that the Federal Reserve hat has already slashed its base interest rate by three full points to 2.25% may well need to continue easing interest rate for some time.

The Indian ADRS closed in red. In technology sector, Satyam fell by 4.38% along with Wipro by 3.89%, Infosys by 1.64%. In banking sector, ICICI bank and HDFC bank grew by (1.61%) and (0.18%) respectively. In telecommunication sector, Tata Communication and MTNL decreased by (3.34%) and (0.59%) respectively. Sterlite industries slipped by (0.72%).

Today the major stock markets in Asia are trading mixed. Taiwan Weighted is trading up by 123.24 points at 8,791.17 along with Hang Seng by 32.43 points at 24,017 while Japan’s Nikkei is trading lower by 77.41 points at 13,034.48 and Singapore Strait Times trading down by 6.59 points at 3,083.13.

The FIIs on Wednesday stood as net buyer both in equity while the net seller in debt. The gross equity purchased was Rs2,636.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,487.60 Crore and gross debt sold stood at Rs20.00 Crore. Therefore, the net investment of equity reported was Rs148.70 Crore and net debt was (Rs20.00 Crore).

The government of India has announced a Duty Free Tariff Preference Scheme for imports from as many as 50 Least Developed Countries (LDCs), of which 34 are in Africa. The Prime Minister, Dr Manmohan Singh at the two-day India Africa Forum Summit here, said that under the scheme India would unilaterally provide preferential market access for exports from all 50 LDCs. The scheme would cover 94% of India''s total tariff lines and particularly it would extend preferential market access on tariff lines that comprise close to 93% of global exports of all LDCs.
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The government has also given approval for 20 foreign direct investment (FDI) proposals worth Rs 1,962.05 crore, including a Rs 924-crore deal involving UTV Software Communications. The proposals, approved by the Foreign Investment Promotion Board (FIPB), also include a proposal from cement manufacturer Lafarge India for merger of Lafarge India Holding Pvt Ltd with Lafarge India Pvt Ltd.

Today, Nifty has support at 4,583 and resistance at 4,798 and BSE Sensex has support at 15,263 and resistance at 15,918.