Post Session Market - June 30,2008

The market was badly hit for the second consecutive day by posting heavy losses across the counters on account of heavy selling pressure backed by rise in crude oil price and political uncertainty. The BSE Sensex slipped below 13,500 mark and NSE Nifty below 4,100. The BSE Midcap and Smallcap indices closed with deep cut of more than 3%. New York crude oil reached an all time high to $142.99 a barrel on Friday. In the domestic political scenario, left parties has again threatened to pull out support from the UPA if government went to IAEA and there are signs that Congress may go ahead with the deal even if it leads to the collapse of the UPA coalition and early elections. Market opened on flat note on the back of mixed global cues and turned volatile during early trade. Further it slipped sharply and continued the losing trend through out of trading session to close in deep red. From the sectoral front, Oil & Gas, Capital Goods, Reality, Bank and Consumer Durables stocks were under pressure, while IT and Pharma stocks witnessed some buying interest. The market breadth was weak as 2107 stocks closed in red while 542 stocks closed in green.

The BSE Sensex closed lower by 340.62 points at 13,461.60 and NSE Nifty ended down by 96.10 points at 4,040.55. The BSE Mid Caps and Small Cap closed negative with fall of 172.23 points and 236.11 points 5,386.48 and 6,701.96 respectively. The BSE Sensex touched intraday high 13,872.06 and intraday low of 13,405.54.

Lossers from the BSE are Reliance Infra (11.47%), ACC Ltd (9.80%), Ambuja Cement (6.83%), DLF Ltd (6.60%), Reliance Com Ltd (6.58%), Grasim Industries (5.05%), M&M Ltd (5.00), HDFC (4.40%) and MAruti Suzuki (4.22%).

The Oil & Gas index closed down by 378.47 points at 9,009.16. As Essar Oil Ltd (11.11%), Reliance Natural Resources (10.71%), BPCL (6.30%), HPCL (5.52%), Reliance (4.06%) and Aban Offshore (3.89%) closed in negative territory.

The Capital Goods index dropped by 361.45 points to close at 10,080.69. Major lossers are Jyoti Struct (9.57%), Elecon Eng C (7.82%), BEML Ltd (7.02%), ABB Ltd (6.33), Suzlon Energy (6.29%) and Alstom Proje (5.71%).

The Reality Index closed higher by 331.78 points at 4,543.47. Lossers are Housing Dev (10.27%) along with Indiabull Real (8.56%), Penland Ltd (7.78%), Parsvnath (7.52%), Ansal Infra (7.18%) and Unitech Ltd (6.65%).

The Banking index closed down by 209.97 points at 5,915.98. Lossers are Yes Bank (8.38%), PNB (6.45%), Kotak Bank (5.61%), Indian Overseas Bank (5.51%), SBI (4.04%), Axis Bank (4.02%), Andhra Bank (3.51%) and ICICI Bank Ltd (3.51%).

The IT index closed higher by 15.07 points at 4,019.82. Gainers are NIIT Ltd (8.12%), Financ Tech (2.02%), Infosys Tech (1.59%), Tech Mahindra (0.79%) and I-Flex (0.76%).

The Pharma index closed up by 14.28 points at 4,164.33. As Matrix Lab (4.46%), Sun Pharma (4.42%), Dr Reddy’s Lab (2.66%), Glenmark Pharma (1.97%) and Cipla Ltd (0.29%) closed in positive territory.

Pre Session Market - June 30,2008

The Indian Market is expected to have positive opening on the back of mixed global cues. On Friday, the Indian market closed in deep red after going through a blood bath due to rise in crude oil prices and inflation worries. Crude oil prices reached to a new high of $141.71 a barrel for the first time after the head of OPEC predicted that the price of crude could raise over $150. Market opened on extremely negative note on the back of weak global cues continued to trade weak. till the end of session. From the sectoral front, metal, capital goods, bank, oil & gas and realty stocks faced heavy selling across the counters. The BSE Sensex closed lower by 619.70 points at 13,802.22 and NSE Nifty ended down by 179.20 points at 4,136.65. We expect that market may remain volatile during the trading session.

US markets closed lower on Friday on the concern of sub-prime write down at banks may increase together with record oil and slowdown in global economic growth which in turn will hit corporate earnings.

The Dow Jones Industrial Average (DJIA) closed lower by 106.91 points at 11,346.51 along with NASDAQ down by 5.74 points to close at 2,315.63 and S&P 500 dropped by 4.77 points to close at 1,278.38.

Indian ADRs ended mixed. In technology sector, Satyam ended up by (2.50%) along with Wipro by (1.09%), Infosys by (0.99%) while Patni Computers dropped by (1.92%). In banking sector, ICICI bank and HDFC bank decreased by (4.29%) and (1.65%) respectively. In telecommunication sector, MTNL and Tata Communication reduced by (4.04%) and (0.06%). Sterlite industries declined (3.06%).

Today the major stock markets in Asia are trading mixed. Hang Seng index is trading higher by 55.99 points at 22,098.34 along with Japan’s Nikkei trading up by 45.04 points at 13,589.40 while Taiwan Weighted trading at 7,534.93 with a fall of 13.83 points.

The FIIs on Friday stood as net seller in equity and debt. The gross equity purchased was Rs4,235.50 Crore and the gross debt purchased was Rs207.70 Crore while the gross equity sold stood at Rs4,704.60 Crore and gross debt sold stood at Rs483.50 Crore. Therefore, the net investment of equity reported was (Rs49.00) Crore and net debt was 275.90 Crore.

Today, Nifty has support at 4,051 and resistance at 4,211 and BSE Sensex has support at 13,506 and resistance at 14,074.

Mid Session Market - June 30,2008

The market is facing selling pressure as profit booking continued in the selective scrips. The Realty, Bank, Auto and Consumer Durables stocks are out of favor today. However, some buying witnessed in the IT and Pharma stocks. The BSE Sensex is hovering below the 13700 mark and the NSE Nifty managed to trade above the 4100 mark. The BSE Mid Cap and BSE Small Cap are also trading with a cut of more than 1% each.

The overall market breadth is negative 701 stocks are advancing while 1689 stocks are declining and the 60 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 76.83 points at 5,481.92 and the BSE small Cap is down by 91.38 points to trade at 6,846.69.

At 12.30 pm, BSE Sensex was at 13,687.01 down by 115.21 points and Nifty was at 4,109.35 down by 27.30 points.

BSE IT index inclined by 40.71 points to trade at 4,045.46 as I-Flex (3.20%), Satyam Computer (2.09%), Infosys Technologies (1.39%) and Wipro (0.85%) are trading in green.

BSE Oil & Gas index was trading 81.19 points lower at 9,306.44 as RNRL (6.36%), BPCL (2.96%), Indian Oil (2.81%) and Essar Oil (2.31%) are trading in red.

BSE Health Care up by 12.04 points at 4,162.09. The top gainers are Sun Pharma (3.48%), Matrix Labs (3.93%), Dr.Reddy (1.05%) and Glenmark Pharma (0.75%).

BSE Metal index advanced by 5.96 points to trade at 13,298.41. The major gainers are Sterlite Industries (2.49%), NALCO (2.16%), Hindalco Industries (1.44%) and Maharashtra Seamless (1.76%).

BSE Capital goods index dropped by 46.63 points to 10,395.51. The main losers are Siemens (3.35%), Praj Industries (3.33%), ABB (2.47%) and L&T (1.47%).

BSE Power index decreased by 28.14 points to 2,307.12. The main losers are GVK Power (3.56%), Tata Power (3.41%), Reliance Power (2..07%) and Torent Power (1.86%).

BSE Bankex index is trading lower by 186.37 points at 5,939.58. Losers are ICICI Bank (4.76%), PNB (4.61%), HDFC Bank (2.08%) and SBI (1.74%).

BSE Realty dropped by 182.91 points to 4,692.34. Leading to its fall are India Bull Real (5.56%), Omaxe Ltd. (4.86%), Parsavnath (4.59%), Mahindra Life (4.72%) are trading lower.

BSE Auto fell by 70.92 points to 3,619. Leading to its fall are Tata Motors (5.23%), Mahindra & Mahindra (3.44%), Maruti Suzuki (2.71%) and TVS Motor (1.46%).

Post Session Market - June 27,2008

The market went through the bloodbath during the trading session on the concern of surge in crude oil prices and inflation worries. Crude oil prices reached to a new high of $141.71 a barrel for the first time after the head of OPEC predicted that the price of crude could rise over $150 a barrel this year. Inflation for the week jumped to 11.42% for the week ended June 14, against 11.05% for the previous week. Market opened on extremely negative note on the back of weak global cues continued to trade weak. It was a bad day for the market as it remained in the terrible situation for through out trading session led all sectoral indices to witness heavy selling pressure. From the sectoral front, metal, capital goods, bank, oil & gas and realty stocks faced heavy selling across the counters. The market breadth was weak as 2051 stocks closed in red while 601 stocks closed in green.

The BSE Sensex closed lower by 619.70 points at 13,802.22 and NSE Nifty ended down by 179.20 points at 4,136.65. The BSE Mid Caps and Small Cap closed negative with fall of 183.29 points and 191.01 points 5,558.75 and 6,938.07 respectively. The BSE Sensex touched intraday high 14,127.76 and intraday low of 13,760.24. Among the Sensex pack, all 30 scrips closed in negative.

Lossers from the BSE are Tata Motors (8.24%), HDFC (8.15%), Wipro Ltd (7.78%), Reliance Infra (7.72%), M&M Ltd (7.61%), Ambuja Cement (7.14%), JP Associates (7.01), ICICI Bank Ltd (6.40%) and DLF Ltd (5.70%).

The Metal index closed lower by 630.96 points at 13,292.45. Lossers are NALCO (9.98%), Sterlite In (6.88%), Steel Authority (6.67%), Welspan Gujarat Sr (5.65%), Sh Precoated (5.52%), LSW SL (4.96%) and HINDALCO (4.16%).

The Capital Goods index dropped by 445.09 points to close at 10,442.14. Major lossers are Siemens Ltd (5.79%), Havells India (5.75%), Jyoti Struct (5.73%), ABB Ltd (5.27), Suzlon Energy (5.05%) and Punj Lloyd (4.98%).

The Banking index closed down by 345.64 points at 6,125.95. Lossers are Bank of India (8.42%), Axis bank (6.99%), ICICI Bank Ltd (6.40%), Kotak Bank (5.77%), Indian Overseas Bank (5.33%), Yes Bank (25.06%) and OBC (4.77%).

The Oil & Gas index closed down by 289.75 points at 9,387.63. As BPCL (8.35%), Gail India (6.11%), HPCL (5.79%), Essar Oil Ltd (4.88%), ONGC (4.62%) and Reliance Natural Resources (4.30%) closed in negative territory.

The Reality Index closed higher by 227.18 points at 4,875.25. Lossers are Phoenix Mill (13.11%) along with Indiabull Real (7.76%), MAhindra Life (6.28%), DLF Ltd (5.70%), Ansal Infra (5.52%) and Sobha Dev (4.15%).

The market went through the bloodbath during the trading session on the concern of surge in crude oil prices and inflation worries. Crude oil prices reached to a new high of $141.71 a barrel for the first time after the head of OPEC predicted that the price of crude could rise over $150 a barrel this year. Inflation percentage jumped to 11.42% for the week ended June 14, against 11.05% for the previous week. Market opened on extremely negative note on the back of weak global cues continued to trade weak. It was a bad day for the market as it remained in the terrible situation for through out trading session led all sectoral indices to witness heavy selling pressure. From the sectoral front, metal, capital goods, bank, oil & gas and realty stocks faced heavy selling across the counters. The market breadth was weak as 2051 stocks closed in red while 601 stocks closed in green.

The BSE Sensex closed lower by 619.70 points at 13,802.22 and NSE Nifty ended down by 179.20 points at 4,136.65. The BSE Mid Caps and Small Cap closed negative with fall of 183.29 points and 191.01 points 5,558.75 and 6,938.07 respectively. The BSE Sensex touched intraday high 14,127.76 and intraday low of 13,760.24. Among the Sensex pack, all 30 scrips closed in negative.

Lossers from the BSE are Tata Motors (8.24%), HDFC (8.15%), Wipro Ltd (7.78%), Reliance Infra (7.72%), M&M Ltd (7.61%), Ambuja Cement (7.14%), JP Associates (7.01), ICICI Bank Ltd (6.40%) and DLF Ltd (5.70%).

The Metal index closed lower by 630.96 points at 13,292.45. Lossers are NALCO (9.98%), Sterlite In (6.88%), Steel Authority (6.67%), Welspan Gujarat Sr (5.65%), Sh Precoated (5.52%), LSW SL (4.96%) and HINDALCO (4.16%).

The Capital Goods index dropped by 445.09 points to close at 10,442.14. Major lossers are Siemens Ltd (5.79%), Havells India (5.75%), Jyoti Struct (5.73%), ABB Ltd (5.27), Suzlon Energy (5.05%) and Punj Lloyd (4.98%).

The Banking index closed down by 345.64 points at 6,125.95. Lossers are Bank of India (8.42%), Axis bank (6.99%), ICICI Bank Ltd (6.40%), Kotak Bank (5.77%), Indian Overseas Bank (5.33%), Yes Bank (25.06%) and OBC (4.77%).

The Oil & Gas index closed down by 289.75 points at 9,387.63. As BPCL (8.35%), Gail India (6.11%), HPCL (5.79%), Essar Oil Ltd (4.88%), ONGC (4.62%) and Reliance Natural Resources (4.30%) closed in negative territory.

The Reality Index closed higher by 227.18 points at 4,875.25. Lossers are Phoenix Mill (13.11%) along with Indiabull Real (7.76%), MAhindra Life (6.28%), DLF Ltd (5.70%), Ansal Infra (5.52%) and Sobha Dev (4.15%).

Pre Session Market - June 27,2008

The Indian Market is expected to have negative opening on the back of weak global cues as US markets ended on back foot and Asian markets are trading in deep red. On Thursday, the Indian market closed in green due to short covering of the ahead of the expiry of the June derivatives contract that led the buying support in key indices. The market opened on upbeat note tracking the favoring cues from the global markets as the US Federal Reserve’s decision on Wednesday to keep the interest rates unchanged at 2%, which was according to the expectation. Further, the market was not able to sustain the same momentum and lost its gains. But selective buying at the final hours led the market close in positive territory. From the sectoral front, the oil and gas and metal stocks were in limelight as most buying was witnessed from these baskets. The BSE Sensex closed higher by 201.75 points at 14,421.82 and NSE Nifty ended up by 63.2 points at 4,315.85. We expect that market may decline during the trading session and inflation number which is due out to be today will give further direction to the market.

US markets closed lower on Thursday as Oil prices touched above $ 140 a barrel also contributed to the negative sentiment. Also the credit-market write downs and a slowing economy threatened to extend the longest slump in quarterly profits since 2002 adds to the sentiments.

The Dow Jones Industrial Average (DJIA) closed lower by 358.41 points at 11,453.42 along with NASDAQ down by 79.86 points to close at 2,321.37 and S&P 500 dropped by 38.82 points to close at 1,283.15.Indian ADRs ended down. In technology sector, Satyam dropped by (6.05%) along with Wipro by (5.22%), Infosys by (3.86%) and Patni Computers by (2.93%). In banking sector, HDFC bank and ICICI bank decreased by (5.51%) and (5.14%) respectively. In telecommunication sector, Tata Communication advanced by (0.06%) while MTNL reduced by (1.11%). Sterlite industries declined (1.48%).

Today the major stock markets in Asia are trading in red shares plunged on Wall Street and high inflation worries. Hang Seng index is trading lower by 592.71 points at 21,862.96 along with Taiwan Weighted trading down by 311.64 points at 7,500.16 and Japan’s Nikkei trading at 13,515.12 dropped by 307.20 points. The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs2,901.60 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,005.20 Crore and gross debt sold stood at Rs187.40 Crore. Therefore, the net investment of equity reported was (Rs103.60) Crore and net debt was 0.00 Crore.

Today, Nifty has support at 4,170 and resistance at 4,384 and BSE Sensex has support at 13,979 and resistance at 14,632.

Mid Session Market - June 27,2008

The market has recovered a bit from the day’s low but is still trading with a deep cut as strong selling continued across the board. All the key benchmark indices are still trading in red. The market didn’t react much to the inflation number. The inflation for the week ended June 14 came in at 11.42% as against 11.05% in earlier week. The Bank, Realty, Capital Goods and Auto stocks are the most unfavoured stocks today. The Realty, Power, Auto and Pharma stocks are facing the selling pressure today. The BSE Mid Cap and BSE Small Cap are also trading with a cut of more than 2% each.

The overall market breadth remains negative 464 stocks are advancing while 1932 stocks are declining and the 55 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 153.62 points at 5,588.42 and the BSE small Cap is down by 157.19 points to trade at 6,971.89.

At 12.30 pm, BSE Sensex was at 13,949 down by 472.82 points and Nifty was at 4,190.75 down by 125.10 points.

BSE Oil & Gas index was trading 218.41 points higher at 9,458.97 as BPCL (5.32%), GAIL India (3.91%),and ONGC (2.95%) are trading in red.

BSE Metal index slipped by 298.24 points to trade at 13,625.17. The major losers are NALCO (6.66%), Sterlite Industries (3.71%), SAIL (3.39%) and Hindalco Industries (1.62%).

BSE Capital goods index dropped by 399.68 points to 10,487.55. The main losers are L&T (4.74%), BHEL (3.58%), Siemens (3.57%) and ABB (3.43%).

BSE IT index declined by 129.86 points to trade at 4,052 as Wipro (7.16%), HCL Technologies (5.43%), Infosys Technologies (2.76%) and Satyam Computer (2.35%) are trading in red.

BSE Power index decreased by 85.98 points to 2,368.93. The main losers are Tata Power (4.23%), Power Grid (3.46%), NTPC (2.32%) and Suzlon Energy (1.36%).

BSE Health Care down by 33.61 points at 4,175.54. The top losers are Divi’s Lab (2.59%), Cipla (2.61%), Cadila Healthcare (1.52%) and Pfizer (1.24%).

BSE Bankex index is trading lower by 290.17 points at 6,181.42. Losers are ICICI Bank (5.84%), HDFC Bank (4.76%), PNB (3.66%) and SBI (3.39%).

BSE Realty dropped by 186.83 points to 4,915.60. Leading to its fall are India Bull Real (7.32%), Mahindra Life (5.27%), HDIL (3.49%), DLF (3.15%) are trading lower.

BSE Auto fell by 162.78 points to 3,731.97. Leading to its fall are Mahindra & Mahindra (6.99%), Tata Motors (6.02%), Hero Honda (4.81%) and Maruti Suzuki (3.82%).

Mid Session Market - June 26, 2008

The market has given up most of its early morning gains and is trading flat on the last day of the expiry of the F&O of the nth of June. The Realty, Power, Auto and Pharma stocks are facing the selling pressure today. However, the buying support is seen in the Oil & Gas, IT and Consumer Durables stocks. The BSE Sensex is currently hovering above the 14200 mark and the NSE Nifty is trading near the 4250 mark. The BSE Mid Cap and BSE Small Cap are also trading in line with the benchmark index.

The overall market breadth is positive 1423 stocks are advancing while 963 stocks are declining and the 70 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 16.35 points at 5,763.01 and the BSE small Cap is up by 61.45 points to trade at 7,119.47.

At 12.30 pm, BSE Sensex was at 14,243.65 up by 23.58 points and Nifty was at 4,249.40 down by 3.45 points.

BSE Oil & Gas index was trading 150.16 points higher at 9,561.72 as Gail India (2.17%), ONGC (0.75%), RPL (0.44%) and RNRL (0.39%) are trading in green.

BSE Metal index advanced by 38.28 points to trade at 13,803.42. The major gainers are JSW Steel (2.01%), Jindal Steel (1.16%), Sesa Goa (0.91%) and Sterlite Industries (0.13%).

BSE Capital goods index advanced by 27.99 points to 10,830.17. The main gainers are AIA Engineering (1.55%), L&T (1.95%) and SKF (0.47%).

BSE IT index inclined by 36.72 points to trade at 4,131.67 as Financial Technologies (2.93%), Satyam Computer (2.43%), HCL Technologies (1.85%) and Wipro (1.73%) are trading in green.

BSE Power index decreased by 15.51 points to 2,428.91. The main losers are Reliance Power (2.99%), Suzlon Eneregy (2.33%), NTPC (2.26%) and Tata Power (1.02%).

BSE Health Care down by 27.46 points at 4,162.52. The top losers are Glenmark Pharma (2.78%), Ranbaxy Lab. (2.06%), Sun Pharma (1.69%) and Aventis Pharma (1.35%).

BSE Bankex index is trading lower by 3.11 points at 6,472.70. Losers are ICICI Bank (1.10%), PNB (1.56%), SBI (0.84%) and HDFC Bank (0.44%).

BSE Realty dropped by 98.39 points to 5,109.46. Leading to its fall are Ansal Infra. (4.89%), Mahindra Life (3.69%), Parsavnath (3%), DLF (2.51%) are trading lower.

BSE Auto fell by 37.17 points to 3,823.71. Leading to its fall are Maruti Suzuki (3.34%), Tata Motors (1.96%), Hero Honda (1.26%) and Mahindra & Mahindra (1.11%).

Pre Session Market - June 26, 2008

The Indian Market is expected to have positive opening on the back of favorable global cues. On Wednesday, the Indian market closed in green due to the buying support in key indices. The domestic market opened on downbeat note and slipped sharply lower due to the sharp sale off in early session backed by RBI’s hike in the key lending rate and the CRR by 50 basis points each to curb inflation that hit a 13-year high early in June. RBI on Tuesday raised the key lending rate to 8.5% from 8.0% with immediate effect. RBI will raise the cash reserve ratio to 8.75% from 8.25% in two stages, to 8.5% from July 5 and to 8.75% from July 19. Further, market gained ground as investors bought shares at lower levels to close in green. From the sectoral front, metal, oil & gas, capital goods and reality stocks led the advance, while banks, IT and FMCG continued to drag. The BSE Sensex closed higher by 113.49 points at 14,220.07 and NSE Nifty ended up by 61.55 points at 4,252.65. We expect that market gain some ground during the trading session.

US markets closed higher on Wednesday after some volatile trading following the Fed''s decision to keep the interest rates unchanged. A drop in oil prices and moderately encouraging economic reports boosted the market. Yesterday, crude oil futures dropped $2.45, to settle at $134.55 a barrel after a report that showed U.S. fuel demand fell to its lowest level since January 2007 as record prices restricted the purchases.

The NASDAQ closed higher by 32.98 points at 2,401.26 along with S&P 500 up by 7.68 points to close at 1,321.97 and Dow Jones Industrial Average (DJIA) advanced by 4.40 points to close at 11,811.83.

Indian ADRs ended up. In technology sector, Wipro advanced by (2.26%) along with Satyam by (1.09%), Infosys by (0.91%) and Patni Computers by (0.45%). In banking sector, ICICI bank and HDFC bank increased by (2.57%) and (1.57%) respectively. In telecommunication sector, Tata Communication and MTNL rose (3.12%) and (2.27%). Sterlite industries inclined (0.54%).

Today the major stock markets in Asia are higher. Hang Seng Index is trading higher by 160.72 points at 22,795.88 along with Japan’s Nikkei trading up by 59.43 points at 13,889.35 and Taiwan Weighted trading at 7,879.35 advanced by 24.29 points.

The FIIs on Wednesday stood as net buyer in equity and net seller in debt. The gross equity purchased was Rs3,366.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,.92.10 Crore and gross debt sold stood at Rs187.40 Crore. Therefore, the net investment of equity reported was Rs274.10 Crore and net debt was (Rs187.40) Crore.

Today, Nifty has support at 4,172 and resistance at 4,345 and BSE Sensex has support at 13,938 and resistance at 14,524.

Post Session Market - June 25, 2008

Indian market ended with gains due to continuous buying support in key indices since afternoon. It was a smart pull back rally for the markets in last hour of trade after remained unstable for major part of the day. The domestic market opened today on the down beat note and plunged to a new low as witnessed sharp sell off in opening trade. This was due to the RBI’s hike in the key lending rate and the CRR by 50 basis points each to tame inflation that hit a 13-year high early in June. As a second increase this month in its repo rate, the RBI raised the key lending rate to 8.5% from 8.0% with immediate effect. RBI will raise the cash reserve ratio to 8.75% from 8.25% in two stages, to 8.5% from July 5 and to 8.75% from July 19. Further, market gained ground as investors bought shares at lower levels to close in green. At present Left-UPA political crises passed, but N-issue still exists after today’s meeting between the government and left parties with a decision to meet again. From the sectoral front, metal, oil & gas, capital goods and reality stocks led the advance, while banks, IT and FMCG continued to drag. The market breadth was positive as 1,370 stocks closed in green and 1,264 stocks closed in red while 73stocks remained unchanged.

The BSE Sensex closed higher by 113.49 points at 14,220.07 and NSE Nifty ended up by 61.55 points at 4,252.65. The BSE Mid Caps and Small Cap closed positive with rise of 33.92 points and 51.60 points 5,746.66 and 7,058.02 respectively. The BSE Mid Cap and BSE Small Cap ended with improvement of 1.0% each. The BSE Sensex touched intraday high 14,248.65 and intraday low of 13,731.54.

Gainers from the BSE are Reliance Com Ltd (7.20%), Tata Steel (4.46%), DLF Ltd (4.19%), Reliance Infra (4.17%), TCS Ltd (4.00%), Bharti Airtel (3.92%), Ranbaxy Lab (3.83%), BHEL (3.67%) and Relaince (3.35%).

Losers from the BSE are HDFC (4.29%), Wipro Ltd (2.91%), Cipla Ltd (2.54%), Infosys Tech (2.48%), ITC Ltd (2.46%), Satyam Computer (1.96%), Grasim Industries (1.75), Tata Motors (1.50%) and ICICI Bank Ltd (1.06%).

The Metal index closed higher by 396.32 points at 13,765.14. Gainers are Gujarat Nre C (7.62%), JSW SL (4.72%), Tata Steel (4.46%), Welspan Gujaraqt Sr (3.85%), Steel Authority (3.18%), Maharashtra Sea (2.76%), and Jindal Steel (2.52%).

The Oil & Gas index closed up by 265.13 points at 9,411.56. As Aban Offshore (5.00%), Essar Oil Ltd (4.98%), HPCL (4.90%), Reliance Pet (4.03%), Reliance (3.35%) and Cairn India (2.80%) closed in positive territory.

The Capital Goods index advanced by 162.58 points to close at 10,802.18. Major gainers are Areva (7.69%), Punj Lloyd (6.22%), Seimens Ltd (4.02%), BHEL (3.67%), Elecon Eng C (3.42%) and Praj Industries (3.07%).

The Reality Index closed higher by 109.41 points at 5,207.85. Gainers are Unitech Ltd (7.56%) along with Purvankara (7.33%), Penland Ltd (4.49%), Mahindra Life (4.21%), DLF Ltd (4.19%) and Parsvnath (2.66%).

The IT index went down by 46.56 points to close at 4,094.95 as Wipro Ltd (2.91%), Infosys Tech (2.48%), Patni Computer (1.96%), Satyam Computer (1.96%) and HCL Techn (1.64%) closed in negative territory.

The Banking index closed down by 23.85 points at 6,475.81. Lossers are OBC (6.17%), Allahabad Bank (4.72%), Canara Bank (3.43%), Yes Bank (2.74%), Kotak Bank (2.49%) and Union Bank (2.23%).

Mid Session Market - June 25, 2008

The market has paired most of its early morning losses and is trading flat as the NSE Nifty is trading marginally higher while the BSE Sensex is trading down. The significant buying emerged in the selective scrips mainly led by the Metal, Oil & Gas, Consumer Durables and Capital Goods stocks. However, the Realty, Bank and IT stocks are still under pressure. The BSE Mid Cap and BSE Small Cap are also trading flat.

The overall market breadth is negative 978 stocks are advancing while 1415 stocks are declining and the 79 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 510.32 points at 5,702.42 while the BSE small Cap is marginally up by 0.74 points to trade at 7,007.16.

At 12.30 pm, BSE Sensex was at 14,067.04 down by 39.54 points and Nifty was at 4,202.50 up by 11.40 points.

BSE Oil & Gas index was trading 155.51 points higher at 9,301.94 as BPCL (2.92%), HPCL (2.79%), ONGC (2.20%) and Essar Oil (1.91%) are trading in green.

BSE Metal index surged by 231.56 points to trade at 13,600.38. The major gainers are Sterlite Industries (5.11%), SAIL (2.33%), JSW Steel (2.05%) and Jindal Stainless (2.20%).

BSE Capital goods index advanced by 166.20 points to 10,805.80. The main gainers are Punj Lloyd (3.61%), BHEL (3.81%), Praj Industries (2.35%) and ABB (1.74%).

BSE Power index increased by 32.95 points to 2,431.04. The main gainers are GVK Power (1.18%), Torent Power (1%), Suzlon Energy (0.71%) and NTPC (0.67%).

BSE Health Care up by 11.99 points at 4,177.90. The top gainers are Ranbaxy Lab. (2.76%), Glaxosmith (1.79%), Glenmark Pharma (1.04%) and Divi’s Lab (1.63%).

BSE Bankex index is trading lower by 30.62 points at 6,469.04. Losers are Kotak Bank (2.27%), Canara Bank (2.83%), ICICI Bank (1.17%) and Andhra Bank (1.11%).

BSE Realty dropped by 113.10 points to 4,985.34. Leading to its fall are India Bull Real (8.51%), Purvankara (3.21%), HDIL (2.01%), Sobha Developers (1.34%) are trading lower.

BSE Auto fell by 19.11 points to 3,823.66. Leading to its fall are Tata Motors (2.64%), Hero Honda (0.69%), TVS Motor (0.48%) and Ashok Leyland (0.49%).

BSE IT index declined by 57.43 points to trade at 4,084.08 as Infosys Technologies (2.96%), Wipro (2.28%), Satyam Computer (2.22%) and HCL Technologies (1.28%) are trading in red.

Pre Session Market - June 25, 2008

The Indian Market is expected to have negative opening on the back of weak global cues, political uncertainty and rates hike by RBI. Tuesday, the Indian market closed in red for the fifth straight trading day backed by selling across the ground. The BSE Sensex fall below the 14,000 mark for the first time since late August 2007. Though the market showed some buying interest from the investors at the initial session but later tumbled to give up all its gains. The market lost the momentum after the mid session to close on the back foot due to lack of support from the investors. From the sectoral front, metal, metal stock was major victim, which ended with a cut of more than 3.5 % with all indices closed in red. The BSE Sensex closed lower by 186.74 points at 14,106.58 and NSE Nifty ended down by 75.3 points at 4,191.10. The BSE Mid Cap and BSE Small Cap ended with a cut of more than 1.5% each. We expect that market may remain cautious during the trading session.

Investors will have eye on the crucial meeting of the members of UPA with left scheduled today to decide on the fate of proposed deal between the Congress party and the U.S. President. Left parties had threatened to withdraw support if the government went ahead with the deal.

RBI on Tuesday raised its key lending rate and the CRR by 50 basis points each to tame inflation that hit a 13-year high early in June. As a second increase this month in its repo rate, the RBI raised the key lending rate to 8.5% from 8.0% with immediate effect. RBI will raise the cash reserve ratio to 8.75% from 8.25% in two stages, to 8.5% from July 5 and to 8.75% from July 19. These hikes will have adverse implications for the manufacturing sector, which have impact of high interest rates.

US markets closed lower on Tuesday. The Federal Reserve Bank in the U.S. began a two-day policy meeting on Tuesday for decision on interest rate and is expected to hold key rate for short-term lending at current rate of 2%, at the end of policy meeting today.

The Dow Jones Industrial Average (DJIA) closed lower by 34.93 points at 11,807.43 along with NASDAQ down by 17.46 points to close at 2,368.28 and S&P 500 dropped by 3.71 points to close at 1,314.29.

Indian ADRs ended down. In technology sector, Satyam advanced marginally by (0.08%) while Infosys dropped by (2.40%) along with Wipro by (1.04%) and Patni Computers by (0.62%). In banking sector, ICICI bank and HDFC bank decreased by (3.83%) and (3.38%) respectively. In telecommunication sector, Tata Communication and MTNL reduced by (4.34%) and (0.65%). Sterlite industries declined (1.58%).

Today the major stock markets in Asia are trading mixed. Taiwan Weighted is trading higher by 41.79 points at 7,779.91 while Japan’s Nikkei is trading down by 204.59 points at 13,644.97. Hong Kong market is closed today on account of holiday.

The FIIs on Tuesday stood as net seller in equity and debt. The gross equity purchased was Rs2,273.90 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,894.70 Crore and gross debt sold stood at Rs132.70 Crore. Therefore, the net investment of equity reported was (Rs620.80) Crore and net debt was (Rs132.70) Crore.

Today, Nifty has support at 4,069 and resistance at 4,262 and BSE Sensex has support at 13,635 and resistance at 14,352.

Post Session Market - June 24, 2008

Indian market fell sharply to close in red as intense selling pressure was seen across board. Though the market showed some buying interest from the investors at the initial session but later tumbled to give up all its gains as the global cues are supportive. Also the rising inflation concerns supported by the crude oil and the the possibility of it resulting in some monetary tightening measures from the Reserve Bank of India, all contributed to the negative sentiments in the market The market lost the momentum after the mid session to close on the back foot due to lack of support from the investors. All indices closed in red and metal stock was major victim, which ended with a cut of more than 3.5 %. The market breadth was negative as 1,925 stocks closed in red and 718 stocks closed in green while 64 stocks remained unchanged.

The BSE Sensex closed lower by 186.74 points at 14,106.58 and NSE Nifty ended down by 75.3 points at 4,191.10. The BSE Mid Caps and Small Cap closed negative with fall of 102.49 points and 129.88 points 5,712.74 and 7,006.42 respectively. The BSE Mid Cap and BSE Small Cap ended with a cut of more than 1.5% each. The BSE Sensex touched intraday high 14,432.90 and intraday low of 13,991.31.

Losers from the BSE are HUL (5.32%), Tata Steel (4.60%), NTPC Ltd (3.92%), ONGC (3.61%), L&T Ltd (3.58%), Ambuja Cement (3.52%), HDFC Bank Ltd (3.31%), Infosys Tech (2.95%) and Grasim industries (2.79%).

The Metal index closed lower by 487.51 points at 13,368.82. Lossers are NALCO (8.56%), Welspan Guj Sr (8.06%), Ispat industries (5.80%), Sterlite In (5.24%), Sh Precoated (5.19%), Tata Steel (4.60%), and Jindal Steel (3.26%).

The Capital Goods index dropped by 157.41 points to close at 10,639.60. Major losers are Seimens Ltd. (5.58%), Bharat Elect (4.70%), Areva (4.54%), L&T Ltd (3.58%), Aiaengineer (3.49%) and Havells India. (2.93%).

The Banking index closed down by 130.92 points at 6,499.66. Lossers are Allahabad Bank (5.20%), Kotak Bank (4.39%), Federal Bank (3.31%), HDFC Bank Ltd (3.31%), Andhra Bank (2.98%), Axis Bank (2.88%) and OBC (2.29%).

The IT index went down by 91.91 points to close at 4,141.51 as Infosys Tech (2.95%), Tech Mahindra (2.21%), Moser Bayer (2.20%), Mphasis Ltd (2.14%) and Wipro Ltd (1.95%) closed in negative territory.

The Reality Index closed lower by 89.48 points at 5,098.44. Lossers are Pheonix Mill (7.79%) along with Ansal Infra (5.41%), Mahindra Life (4.45%), Housing Development (4.22%), Omaxe Ltd (2.95%) and Purvankara (2.84%).

The Auto index closed down by 80.64 points at 3,842.77. As Exide Industries (4.81%), Hero Honda Motors (4.34%), Cummins India (2.56%), Bosch Ltde (2.50%), TVS Motors Ltd (2.50%) and Appollo Tyre (2.14%) closed in negative territory.

Mid Session Market - June 24, 2008

The market has shed some its opening gains and is trading near the unchanged level as selling pressure continued in the selective scrips mainly led by the FMCG, Metal, IT and Pharma stocks. However significant buying in the Oil & Gas, Capital Goods, Bank and Realty stocks have provided some support to the market. The BSE Mid Cap and BSE Small Cap are facing the most selling pressure today and have under performed the benchmark index.

The overall market breadth is negative 1081 stocks are advancing while 1328 stocks are declining and the 65 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 5.67 points at 5,809.56 and the BSE small Cap slipped by 16.39 points to trade at 7,119.91.

At 12.30 pm, BSE Sensex was at 14,308.94 up by 15.62 points and Nifty was at 4,266.90 marginally up by 0.50 points.

BSE Oil & Gas index was trading 130.27 points higher at 9,302.37 as Reliance (2.41%), RPL (0.71%), Cairn India (0.39%) and ONGC (0.12%) are trading in green.

BSE Capital goods index surged by 114.99 points to 10,912. The main gainers are BHEL (1.88%), Siemens (0.96%), ABB (0.86%) and L&T (0.24%).

BSE Bankex index is trading higher by 56.85 points at 6,687.43. Gainers are SBI (2.25%), PNB (1.72%), ICICI Bank (0.60%) and HDFC Bank (0.10%).

BSE Realty increased by 39.76 points to 5,227.68. Leading to its gain are Unitech (1.49%), DLF (1.30%), HDIL (1.19%), Sobha Developers (0.80%) are trading lower.

BSE Auto grew by 7.76 points to 3,931.17. Leading to its gain are Mahindra & Mahindra (1.38%) and Hero Honda (0.23%).

BSE Power index advanced by 18.18 points to 2,456.16. The main gainers are Suzlon Energy (3.07%), NTPC (1.36%), Torent Power (1.28%) and Power Grid (0.77%).

BSE IT index declined by 21.79 points to trade at 4,221.63 as TCS (3.87%), Financial Technologies (1.33%), and Mphasis (0.36%) are trading in red.

BSE Metal index dropped by 33.19 points to trade at 13,823.14. The major losers are Hindalco Industries (8.57%), Sterlite Industries (6.01%), Tata Steel (4.87%) and SAIL (4.18%).

Pre Session Market - June 24, 2008

The Indian Market is expected to have negative opening on the back of weak global cues as Asian markets are trading lower and US market ended mixed. On Monday, the Indian market closed in red backed by selling across the ground. It opened on downbeat note and covered with black clouds throughout the trading session due to weak global markets along with high oil prices, rising inflation concern and the possibility of it resulting in some monetary tightening measures from the Reserve Bank of India, all contributed to the negative sentiments in the market. Nuke Deal was also the concern for the market. From the sectoral front, metal, capital goods, oil & gas, bank and reality stocks were the major victims of the negative sentiment, while IT stocks were on limelight as maintained to close on positive zone. The BSE Sensex closed lower by 277.97 points at 14,293.82 and NSE Nifty ended down by 81.15 points at 4,266.40. The BSE Mid Cap and BSE Small Cap ended with a deep cut of more than 3% each. We expect bearish market during the trading session.

US markets closed mixed on Monday. Stocks in New York opened on the upbeat note, but the early advance was short-lived, as investors ran away from the financials and Oil prices rose above $136 a barrel on Monday after major energy producers ruled out further output. Bank of America reduced the income estimates for brokerages and Goldman Sachs advised selling bank shares as credit losses stay behind into 2009. American International Group, the largest insurer, dropped to its lowest since 1997, also added to the negative attitude.

The S&P 500 closed marginally higher by 0.07 points at 1,318.00, while NASDAQ ended down by 20.35 points to close at 2,385.74 and Dow Jones Industrial Average (DJIA) dropped by 0.33 points to close at 11,842.36.

Indian ADRs ended mixed. In technology sector, Patni Computers ended up by (1.99%) along with Satyam by (1.79%), Infosys by (1.56%) and Wipro by (0.16%). In banking sector, HDFC bank and ICICI bank decreased by (1.64%) and (1.25%) respectively. In telecommunication sector, Tata Communication and MTNL reduced by (3.64%) and (3.01%). Sterlite industries declined (3.72%).

Today the major stock markets in Asia are trading in negative. Taiwan Weighted is trading lower by 68.67 points at 7,807.82 along with Hang Seng index trading down by 45.95 points at 22,669.01 and Japan’s Nikkei trading at 13,851.04 advanced by 6.43 points.

The FIIs on Monday stood as net seller in equity and debt. The gross equity purchased was Rs2,501.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,454.00 Crore and gross debt sold stood at Rs56.00 Crore. Therefore, the net investment of equity reported was (Rs952.50) Crore and net debt was Rs56.00 Crore.

Today, Nifty has support at 4,170 and resistance at 4,332 and BSE Sensex has support at 13,920 and resistance at 14,492.

Post Session Market - June 23, 2008

Indian market closed in red by extending its Friday’s losses due to sustained sales that was witnessed in key indices mainly metal and capital goods stocks, which ended with a cut of more than 4% and 5% respectively. The domestic market opened sharply lower on the back of weak global cues and observed heavy selling pressure since the initial bell. It remained under black clouds till the end of trading. Concerns of further tightening of monetary policy triggered the negative sentiments. The rising inflation concerns along with the chances of another hike in interest rate by RBI and political uncertainty also put some more pressures to the market. Heavy selling in capital goods, metal, power, realty, and oil stocks added pressure on the markets while IT stocks were on limelight as maintained to close on positive zone. The market breadth was extremely negative as 2,222 stocks closed in red and 425 stocks closed in green while 50 stocks remained unchanged.

The BSE Sensex closed lower by 277.97 points at 14,293.82 and NSE Nifty ended down by 81.15 points at 4,266.40. The BSE Mid Caps and Small Cap closed negative with fall of 217.20 points and 261.36 points 5,815.23 and 7,136.30 respectively. The BSE Mid Cap and BSE Small Cap ended with a deep cut of more than 3% each. The BSE Sensex touched intraday high 14,510.55 and intraday low of 14,163.45.

Lossers from the BSE are JP Associates (7.95%), Hindalco (7.83%), L&T Ltd (6.53%), Maruti Suzuki (5.43%), Ranbaxy Lab (5.38%), Reliance Infra (4.76%), M&M Ltd (4.55%), Tata Steel (4.12%) and Reliance (3.55%).

The Metal index closed lower by 671.73 points at 13,856.33. Lossers are Hindalco (7.83%), Hindustan Zinc (6.19%), Welspan Guj Sr (5.94%), Nalco (5.41%), Jindal Steel Ltd (5.36%), Steel Authority (4.57%), and Sterlite In (4.15%).

The Capital Goods index dropped by 602.78 points to close at 10,797.01. Major lossers are Alstom Proje. (8.65%), Punj Lloyd (6.86%), L&T Ltd (6.53%), Suzlon Energy (6.21%), Lakshmi Ma W (6.03%) and Elecon Eng C. (5.93%).

The Oil & Gas index closed down by 247.79 points at 9,172.10. As Essar Oil Ltd (7.51%), Aban Offshore (6.79%), Reliance Nat Res (4.22%), Reliance (3.55%), IOC (3.19%) and Reliance Pet (1.73%) closed in negative territory.

The Reality Index closed lower by 195.89 points at 5,187.92. Lossers are Akruti City (9.04%) along with Anant Raj (9.00%), Penl; Ltd (7.27%), Unitech Ltd (7.12%), Housing Dev (7.00%) and Ansal Infras (6.00%).

The Banking index closed down by 174.20 points at 6,630.58. Lossers are BOI (9.12%), Indian Overseas Bank (6.81%), Andhra Bank (6.65%), Allahabad Bank (6.61%), Karnataka Bank (6.14%), Federal Bank (6.02%) and Bank of Baroda (5.77%).

The IT index went up by 28.80 points to close at 4,233.42 as HCL Tech (1.63%), Wipro Ltd (1.14%), Patni Computer (1.12%), Infosys Tech (1.09%) and Satyam Computer(1.04%) closed in positive territory.

Mid Session Market - June 23, 2008

The market is trading under heavy selling pressure as profit booking continued in the selective scrips mainly led by the Metal, Capital Goods, Realty and Power stocks. However some buying witnessed in the IT stocks. The BSE Sensex is trading with a deep cut of nearly 2% and the NSE Nifty is hovering near the 4300 mark. The BSE Mid Cap and BSE Small Cap are facing the most selling pressure today and they both are trading with a cut of more than 3% reach.
The overall market breadth is negative 306 stocks are advancing while 2145 stocks are declining and the 42 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 224.87 points at 5,807.56 and the BSE small Cap slipped by 266.80 points to trade at 7,130.86.

At 12.30 pm, BSE Sensex was at 14,287.67 down by 283.62 points and Nifty was at 4,259.60 down by 87.95 points.

BSE IT index inclined by 17.09 points to trade at 4,221.71 as Satyam Computer (1.31%), HCL Technologies (0.68%), and Wipro (0.30%) are trading in green.

BSE Metal index dropped by 617.95 points to trade at 13,910.11. The major losers are Tata Steel (4.82%), Hindalco Industries (4.75%), Sterlite Industries (4.65%) and NALCO (3.66%).

BSE Capital goods index slipped by 510.67 points to 10,889.12. The main losers are ABB (4.85%), L&T (4.41%), Siemens (3.74%) and BHEL (3.40%).

BSE Realty decreased by 224.05 points to 5,159.76. Leading to its fall are Sobha Developers (6.16%), Unitech (5.42%), Omaxe (5.09%), Parsavnath (4.67%) and DLF (2.48%) are trading lower.

BSE Oil & Gas index was trading 284.62 points lower at 9,135.27 as Essar Oil (4.78%), RNRL (4.34%), Indian Oil (2.76%) and RPL (2.66%) are trading in red.

BSE Health Care Index is down by 119.47 points to 4,205.93. The main losers are Ranbaxy Lab. (5.41%), Pfizer (3.42%), Glenmark Pharma (3.20%) and Dr.Reddy (3.34%).

BSE Auto fell by 118.25 points to 3,924.61. Leading to its fall are Maruti Suzuki (4.44%), Mahindra & Mahindra (3.59%), Hero Honda (2.43%) and Tata Motors (1.90%).

BSE Power index decreased by 96.51 points to 2,443.33. The main losers are Suzlon Energy (4.84%), Tata Power (4.25%), Power Grid (2.92%) and NTPC (1.01%).

BSE Bankex index is trading lower by 164.95 points at 6,639.83. Losers are PNB (3.42%), SBI (2.48%), ICICI Bank (1.52%) and HDFC Bank (0.44%).

Pre Session Market - June 23 , 2008

The Indian Market is expected to have negative opening on the back of weak global cues as the US market closed in red and Asian markets are trading weak. On Friday, the Indian market closed with heavy losses pressurized by selling across the ground. It was a hard day for the domestic market as it hanged around extremely negative zone after positive start. It had shown negative attitude through out the trading session. Nuke Deal and inflation worries also caused distress for the market as political uncertainty occurred after CPM threatened the UPA to withdraw its support if government moves forward with the deal. Inflation figure released on Friday reached to 13 years high to 11.05% for the week ended 7 June 2008. From the sectoral front, metal and oil & gas stocks were most unfavorable as most of selling was seen in these baskets. The BSE Sensex closed lower by 516.70 points at 14,571.29 and NSE Nifty ended down by 156.70 points at 4,347.55. We expect that market may decline further during the trading session.

US markets closed lower on Friday following negative news from the financial sector. Merrill Lynch slashed their earnings outlooks on several large regional banks. Standard & Poor may downgrade the credit ratings on General Motors, Chrysler and Ford.

The Dow Jones Industrial Average (DJIA) closed lower by 220.40 points at 11,842.69 along with NASDAQ down by 55.97 points to close at 2,406.09 and S&P 500 dropped by 24.90 points to close at 1,317.93.

Indian ADRs ended down. In technology sector, Wipro dropped by (7.42%) along with Satyam by (5.83%), Patni Computers by (4.58%) and Infosys by (4.42%). In banking sector, ICICI bank and HDFC bank increased by (5.71%) and (4.42%) respectively. In telecommunication sector, Tata Communication and MTNL reduced by (5.62%) and (0.65%). Sterlite industries declined (4.67%).

Today the major stock markets in Asia are trading in red extending its losses to third day, after Wall Street plunged on Friday. Hang Seng index is trading lower by 290.53 points at 22,455.07 along with Japan’s Nikkei trading down by 162.27 points at 13,779.81 and Taiwan Weighted trading at 7,867.57 with a fall of 34.87 points.

The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs1,858.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,211.30 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs352.60) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,234 and resistance at 4,419 and BSE Sensex has support at 14,218 and resistance at 14,801.

Post Session Market - June 20, 2008

Indian market faced the blood bath today during the trading session and closed in deep red with BSE Sensex reached to its lowest in 2008 due to the high inflation figure that increased more than expectation and reached to 13 year high to stood at 11.05% for the week ended 7th June 2008 as against 8.75% in earlier week. Interest rate sensitive sectors suffered most on the expectations that RBI may announce some measures to curb inflation, like a hike in interest rates. The domestic market opened on positive zone on the back of favorable global cues but it was not able to sustain the momentum and soon slipped to extremely negative territory since initial bell. Stocks were hammered further to close in deep red. Political uncertainty in country also added to the negative sentiment as CPM threatened the UPA to withdraw its support if government moves forward with the deal. Government is planning go ahead to Nuke deal without the Left consent. All indices closed in negative and metal and oil & gas stocks were most unfavorable as most of selling was seen in these baskets. The market breadth was extremely negative as 2,247 stocks closed in red and 450 stocks closed in green.

The BSE Sensex closed lower by 516.70 points at 14,571.29 and NSE Nifty ended down by 156.70 points at 4,347.55. The BSE Mid Caps and Small Cap closed negative with fall of 197.74 points and 262.76 points at 6,032.43 and 7,397.66 respectively. The BSE Sensex touched intraday high 15,202.01 and intraday low of 14,519.27.

Losers from the BSE are Rel Com Ltd (6.65%), Reliance (6.61%), HIndalco (6.37%), JP Assoc (6.03%), Rel Infra (4.92%), Bharti Airtel (4.76%), Ambuja Cement (4.71%), Tata Steel (4.66%) and DLF Ltd (4.57%).

The Metal index closed lower by 603.80 points at 14,528.06. Losers are NALCO (6.75%), Hindalco (6.37%), Ispat Indus (5.61%), Tata Steel (4.66%), Sesa Goa Ltd (4.59%), Jindal Steel (4.52%), and Gujarat Nre C (3.52%).

The Oil & Gas index closed down by 498.96 points at 9,419.86. As Reliance Nat Res (7.27%), Essar Oil Ltd (6.62%), Reliance (6.61%), Cairn India (5.69%), Reliance Pet (5.19%) and Aban Offshore (4.57%) closed in negative territory.

The Capital Goods index dropped by 267.90 points to close at 11,399.79. Major losers are Praj Indus (6.30%), Kir Oil Eng (5.74%), Seimens Ltd (5.21%), Kirloskar Br (4.83%), Crompton Geaves Ltd (4.72%) and Alstom Proje. (4.68%).

The Reality Index closed lower by 250.79 points at 5,383.81. Losers are Housing Devel (9.17%) along with Akruti City (7.14%), Sobha Dev (6.66%), Parsvnath (6.28%), Penl;and Ltd (6.17%) and Ansal Infras (5.80%).

The Banking index closed down by 208.40 points at 6,804.78. Losers are BOI (7.36%), Bank of baroda (6.24%), Indian Overseas Bank (5.78%), OBC (5.50%), SBI (4.11%), Allahabad Bank (4.08%) and Union Bank (4.06%).

The Pharma index dropped by 101.52 points to close at 4,325.40 as Nicholas Pira (7.93%), Fortis Health (6.73%), Sunpha Adv (6.26%), Aurbindo Pharma (5.73%) and Matrix (5.34%) closed in negative territory.

Mid Session Market - June 20, 2008

The market takes a sharp U turn to drift down further due to high inflation numbers that touched the double digit figure to stood at 11.05% for the week ended June 7, 2008 as against 8.75% a week earlier. This led to the heavy selling pressures across all the sectoral indices. There are rumors that RBI could come out with some measures to tackle the rise in inflation. Also the political uncertainty in the domestic arena between the UPA and the let parties over the nuclear deal keeps the market on the back gear. This led to heavy selling pressures across the every sectoral indices. But the most selling is witnessed from the Capital goods, bankex and realty baskets.

The overall market breadth is extremely negative, as 1897 stocks are declining while 529 stocks are advancing and the 60 stocks remained unchanged on BSE.

The Mid Cap and Small Cap also followed the benchmark indices to trade on the backfoot. The BSE Mid cap and Small Cap are trading lower by 122.79 points and 149.87 points at 6,107.38 and 7,510.55 respectively.

At 12.30 pm, BSE Sensex was trading lower by 301.87 points at 14,786.11 and Nifty was at 4,409.75 down by 94.5 points.

BSE Metal index is trading lower by 268.74 points at 14,863.12. Losers are Ispat industries (4.21%), Jindal Steel 3.33%), Nalco (3.16%), SH. Precoated (2.92%), Gujarat NRE (2.49%).

BSE Capital goods index trading down by 168.09 points at 11,499.60. Major losers are Praj industries (5.10%), Alstom projects (3.38%), Siemens (3.14%), Suzlon Energy (2.70%), Punj Lloyd (2.51%) and L&T (1.04%).

BSE Realty dropped by 182.35 points to trade at 5,452.25 as HDIL (5.61%), Indiabull Real (5.42%), Penland (5.15%), Sobha Dev (4.37%), Ansal Infra (4.34%), Phoenix mill (4.07%), Akruti City (3.06%) and Unitech (2.92%) trading in red.

BSE Oil & Gas index trading with heavy loss of 298.70 points at 9,620.15. Scrips that rae trading lower are Cairn India (4.49%), Reliance industries (4.05%), RNRL (3.52%), Gail India (3.46%), RPL (3.41%), Aban Offshore (3.01%) and BPCL (1.96%).

BSE Bankex index trading lower by 224.52 points at 6,788.86. Losers are BOI (6.58%), Oriental bank (4.65%), Union bank (4.48%), Canara bank (4.42%), Kotak bank (4.29%), IOB (4.10%) and Allahabad bank (3.13%).

Pre Session Market - June 20, 2008

The Indian Market is expected to have positive opening on the back of favourable global cues as the US market closed in green and Asian markets are trading mixed. On Thursday, the Indian market closed with heavy loses pressurized by sales across the ground. It was a difficult day for the domestic market as it hanged around extremely negative zone after negative start due to weak global cues. It was in bad mood through out the trading session. Nuke Deal and inflation worries also caused distress for the market as political uncertainty occurred after CPM threatened the UPA to withdraw its support if government moves forward with the deal. From the sectoral front, all indices closed in red and capital goods, bank and reality stocks faced most of the negative sentiment. The BSE Sensex closed lower by 334.32 points at 15,087.99 and NSE Nifty ended down by 78.15 points at 4,504.25. We expect that market may remain volatile during the trading session and inflation data to be released today will give further direction to the market

US markets closed higher on Thursday baked by lower oil prices that offset a warning of further write-downs from Citigroup. Crude oil futures fell $4.75 at $131.93 per barrel on the New York Mercantile Exchange after China disclosed plans to raise prices for gasoline and diesel fuel by 16% and 18%.

The Dow Jones Industrial Average (DJIA) closed higher by 34.03 points at 12,063.09 along with NASDAQ up by 32.35 points to close at 2,462.06 and S&P 500 advanced by 5.02 points to close at 1,360.03.

Indian ADRs ended mixed. In technology sector, Wipro went up by (2.90%) along with Satyam by (2.29%) and Infosys by (2.05%) while Patni Computers dropped by (2.28%). In banking sector, ICICI bank and HDFC bank decreased by (2.01%) and (0.78%) respectively. In telecommunication sector, MTNL and Tata Communication advanced by (3.59%) and (0.70%). Sterlite industries declined (0.85%).

Today the major stock markets in Asia are trading mixed. Hang Seng index is trading higher by 387.83 points at 23,185.44 while Japan’s Nikkei trading down by 132.74 points at 13,997.43 and Taiwan Weighted trading flat at 8,047.51.

The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs2,469.90 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,919.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs449.80) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,416 and resistance at 4,573 and BSE Sensex has support at 14,799 and resistance at 15,370

Post Session Market - June19 , 2008

Indian market ended with heavy losses as strong selling pressure had griped the market. The domestic market opened on back foot backed by weak global cues and rise in oil prices. Further it continued its negative sentiment and moved into the negative territory till the end of the session due to the inflation concern and expectation of political uncertainty in country. Nuke Deal was also a cause of distress for the market as political uncertainty occurred after CPM threatened the UPA to withdraw its support if government moves forward with the deal. It is expected that the government may go ahead to Nuke deal without the Left consent. The market breadth was negative as 842 stocks closed in green while 1,804 stocks closed in red.

The BSE Sensex closed lower by 334.32 points at 15,087.99 and NSE Nifty ended down by 78.15 points at 4,504.25. The BSE Mid Caps and Small Cap closed negative with fall of 129.62 points and 114.87 points at 6,230.17 and 7,660.42 respectively. The BSE Sensex touched intraday high 15,259.36 and intraday low of 15,051.66.

Losers from the BSE are Ranbaxy Lab (7.68%), Relioance Infra (5.68%), BHEL (5.04%), L&T Ltd (4.84%), ICICI Bank Ltd (4.08%), HDFC Bank Ltd (3.93%), SBI (3.69%), HDFC (3.29%), ONGC (3.06%) and DLF LtdBHEL (2.87%).

The Capital Goods index dropped by 451.64 points to close at 11,667.69. Major losers are Punj Lloyd (58.34%), BHEL (5.04%), Alstom Proje (5.03%), L&T Ltd (4.84%), Elecon Eng C (3.44%) and Aiaengineer (3.33%).

The Banking index closed down by 293.26 points at 7,013.18. Losers areIndian Overseas Bank (7.54%), Kotak Bank (5.49%), Punjab National Bank Ltd (499%), Bank of India (4.99%), Axis Bank (4.67%), Yes Bank (4.60%) and ICICI Bank Ltd (4.08%).

The Reality Index closed lower by 251.18 points at 5,364.60. Losers are Anant Raj Ind (7.67%) along with Unitech Ltd (5.82%), Pheoniox Mill (5.60%), Indiabulls Real (5.43%), Purvankara (5.17%) and Ansal Infras (3.65%).

The Oil & Gas index closed down by 147.50 points at 9,918.85. As BPCL (4.49%), Aban Offshore (3.14%), ONGC (3.06%), Reliance Natural Resources (2.67%), HPCL (2.54%) and IOC (2.17%) closed in negative territory.

The Metal index closed lower by 119.62 points at 15,131.86. Losers are Sh Precoated (3.00%), Jindal Saw (2.84%), Welspan Gujarat Sr (2.76%), Gijarat Nre C (2.33%), Ispat Industries (1.71%), and NALCO (1.71%).

The Pharma index dropped by 99.84 points to close at 4,426.92 as Ranbaxy Lab (7.68%), Bil Care Lt (5.62%), Opto Circuit (5.17%), Dishman Pharma (5.02%) and Fortis Helth (4.22%) closed in negative territory.

The Consumer Durables index move downward by 89.75 points to close at 3,928.77 Major losers are Rajesh Export (5.26%), Blue Star L (2.65%), Gitanjali GE (2.10%), Videocon India (1.98%) and Titan Ind (1.27%)

Mid Session Market - June 19, 2008

The market is trading with losses backed by the weak cues from the global markets as well as the political uncertainty in the domestic arena due to the deferment of the meeting between the UPA and the let parties over the nuclear deal keeps the market on the back gear. This led to heavy selling pressures across the every sectoral indices. But the most selling is witnessed from the Capital goods, bankex and realty baskets.

The overall market breadth is negative, as 1676 stocks are declining while 686 stocks are advancing and the 76 stocks remained unchanged on BSE.

The Mid Cap and Small Cap also followed the benchmark indices to trade on the backfoot. The BSE Mid cap and Small Cap are trading lower by 99.34 points and 87.94 points at 6,260.45 and 7,687.35 respectively.

At 12.30 pm, BSE Sensex was trading lower by 311.78 points at 15,110.52 and Nifty was at 4,513.05 down by 69.35 points.

Ranbaxy labs is trading lower by (5.42%) at Rs565.75. The company has settled the disputes with Pfizer over the generic drug “Lipitor” to sell the drug in US.

BSE Metal index trading lower by 94.51 points at 15,156.97 as SH. Precoated (3.45%), Welspun Guj (2.35%), SAIL (2%), Gujarat NRE (1.93%) and Bhushan Steel (1.23%) closed in negative.

BSE Capital goods index declined drastically by 429.28 points to trade at 11,690.05. Major losers are Bhel (4.88%), L&T (4.56%), Punj Lloyd (4.42%), Elecon Eng (3.65%), Siemens (2.90%), Thermax (2.31%).

BSE Realty decreased by 195.85 points to trade at 5,689.93. Losers are Indbul Real (5.76%), Unitech (4.17%), Phoenix mill (4.03%), Ansal Infra (3.89%), Anant Raj (3.74%), Purvankara (2.67%).

BSE Oil & Gas index trading down by 145.66 points at 9,920.69 as BPCL (4.42%), HPCL (2.79%), IOCL (2.28%), RNRL (2.39%), Reliance industries (2.09%), Essar Oil (1.31%) and Aban Offshore (1.21%) trading in red.

BSE Bankex index trading lower by 264.80 points at 7,041.64. Losers are PNB (5.11%), Kotak bank (4.44%), SBI (4.29%), Federal bank (4%), ICICI bank 3.80%, Yes bank (3.60%).

From the IT index, Aptech (4.36%), NIIT Techno( 3.16%), Mosear baer (2.66%), Rolta India (2.32%), Patni Comp (2.28%) trading lower.

Pre Session Market - June 19, 2008

The Indian Market is expected to have negative opening on the back of weak global cues as the US market closed in red and Asian markets are trading on weak zone. On Wednesday, the Indian market closed with downbeat note due to investors’ negative attitude led to heavy sell across the ground. The domestic market turned volatile after positive start and moved between positive and negative territory till mid session with gradual decline. Further it lost the grip to close in backfoot. The postponement of the meeting between the UPA and the Left parties over the ongoing nuclear issue, which was scheduled yesterday (Wednesday) also, added to the negative sentiments in the market. The Nifty closed below 4600 and the Sensex below 15500 levels. From the sectoral front, Metal, Capital Goods, Banking and Reality stocks were major losers as most of the selling was seen on theses baskets while FMCG and Auto stocks showed some sign of life. The BSE Sensex closed lower by 274.59 points at 15,422.31 and NSE Nifty ended down by 70.60 points at 4,582.4. We expect that market may lose ground during the trading.

US markets closed lower on Wednesday as FedEx Corp. delivered disappointing results and regional banking powerhouse Fifth Third Bancorp''s dividend cut reinforced concern bank losses and record oil will prolong the slump in profits. Morgan Stanley’s income dropped by more than half by 57% that indicates the effects of credit crises.

The Dow Jones Industrial Average (DJIA) closed lower by 131.24 points at 12,029.06 along with NASDAQ down by 28.02 points to close at 2,429.71 and S&P 500 dropped by 13.12 points to close at 1,337.81.

Indian ADRs ended negative. In technology sector, Infosys dropped by (2.84%) along with Satyam by (2.50%), Wipro by (2.31%) and Patni Computers by (10.50%). In banking sector, ICICI bank and HDFC bank decreased by (2.76%) and (2.61%) respectively. In telecommunication sector, MTNL advanced by (0.68%) while Tata Communication reduced by (4.44%). Sterlite industries declined (0.11%).

Today the major stock markets in Asia are trading in red backed by overnight fall in Wall Street and higher oil prices. Crude oil prices raised $2.67 a barrel to close at $136.68 on the New York Mercantile Exchange. Hang Seng index is trading lower by 383.91 points at 22,941.89 along with Japan’s Nikkei trading down by 293.42 points at 14,159.40 and Taiwan Weighted trading at 8,099.78 fell by 117.80 points.

The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs2,546.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,173.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs372.40 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,423 and resistance at 4,603 and BSE Sensex has support at 14,843 and resistance at 15,628.

Post Session Market - June 18, 2008

Indian market ended with loses after giving up yesterday’s gains due to heavy selling pressure over the ground. Weak opening of the European Markets also added to the negative sentiment. The domestic market opened in green but showed a lot of volatility since the initial bell. It was moving between positive and negative territory till mid session. But the market lost the grip after the mid session to close on the back foot despite easing oil prices.

The deferment of the meeting between the UPA and the Left parties over the Indo US nuclear deal, which was scheduled today also adds to the negative sentiments in the market. The Nifty closed below 4600 and the Sensex below 15500 levels. The crude oil price extended its decline today to stand below $134 a barrel. From the sectoral front, only FMCG and Auto stocks witnessed buying favour, while all other stocks closed in red. Metal, Capital Goods, Banking and Reality stocks were major losers as most of the selling was seen on theses baskets. The market breadth was negative as 1,254 stocks closed in green while 1,402 stocks closed in red.

The BSE Sensex closed lower by 274.59 points at 15,422.31 and NSE Nifty ended down by 70.60 points at 4,582.4. The BSE Mid Caps and Small Cap closed negative with decrease of 40.39 points and 6.01 points at 6,359.79 and 7,775.29 respectively. The BSE Sensex touched intraday high 15,789.62 and intraday low of 15,390.22.

Losers from the BSE are ICICI Bank Ltd (4.25%), HDFC Bank Ltd (3.40%), Tata Steel (3.18%), L&T Ltd (3.12%), JP Assoc (2.93%), Reliance Infra (2.83%), Reliance Infra (4.13%), DLF Ltd (2.68%), Bharti Airtel (2.67%) and BHEL (2.64%).

The Metal index closed lower by 265.38 points at 15,251.48. Losers are Gujarat Nre C (3.89%), Hindustan Zinc (3.66%), Tata Steel (3.18%), Steel Auth (3.17%), Ispat Industries (2.68%), and Jindal Steel (2.45%).

The Banking index closed down by 260.73 points at 7,306.44. Losers are Axis Bank (5.16%), ICICI Bank Ltd (4.25%), Kotak Bank (4.23%), Bank of Baroda (3.90%), Bank of Barod (5.87%), HDFC Bank Ltd (3.40%) and Union Bank (3.08%).

The Capital Goods index dropped by 243.94 points to close at 12,119.33. Major losers are Praj Indus (3.91%), Areva (3.49%), Kirloskar Br (3.29%), L&T Ltd (3.12%), Kir Oil Eng (2.66%) and BHEL (2.64%).

The Reality Index closed lower by 213.41 points at 5,885.75. Losers are Anant Raj Ind (7.46%) along with Indiabulls Real (6.07%), Purvankara (4.44%), Sobha Dev (3.36%), Unitech Ltd (3.31%) and Pheonix Mill (3.04%).

The Oil & Gas index closed down by 175.44 points at 10,066.35. As Essar Oil Ltd (3.03%), Reliance Pet (2.66%), Aban Offshore (2.65%), Reliance Natural Resources (1.97%), Reliance (1.96%) and Cairn India (0.95%) closed in negative territory.

The FMCG index increased by 8.52 points to close at 42,310.11 as Rei Agro Ltd (3.10%), United Spr (2.48%), United Brew (1.72%), Marico Ltd (1.47%) and ITC Ltd (0.84%) closed in positive territory.

The Auto index advanced by 4.77 points to close at 4,179.54. Major gainers are Hero Honda Motors (2.43%), Bosch Ltd (1.90%), Maruti Suzuki (1.24%), Ashok Leyland (0.76%) and TVS Motors (0.28%)

Mid Session Market - June 18, 2008

The market is facing a bit of volatility and is moving in between the positive and negative territory. The buying support is seen in the Consumer Durables, Power, Metal and Pharma stocks. However, the IT and Banking stocks are still under pressure. However, today the Mid Cap and Small Cap stocks are in demand. The BSE Mid Cap and Small Cap has outperformed the benchmark index is trading higher.

The overall market breadth is positive, as 1769 stocks are advancing while 651 stocks are declining and the 59 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 84.71 points at 6,484.89 and the BSE small Cap advanced by 127.34 points to trade at 7,908.64.

At 12.30 pm, BSE Sensex was at 15,651.15 down by 45.75 points and Nifty was at 4,654.10 marginally up by 1.10 points.

BSE Metal index advanced by 189.39 points to trade at 15,706.25. The major gainers are ISPAT Industries (2.85%), Hindalco Industries (2.20%), JSW Steel (2.12%) and Sterlite Industries (1.65%).

BSE Capital goods index increased by 29.89 points to 12,393.16. The main gainers are Siemens (2.42%), Praj Industries (1.78%), Bharat Electrical (1.20%) and BHEL (0.34%).

BSE Realty increased by 72.04 points to 6,171.23. Leading to its gain are Mahindra Life (4.45%), Purvankara (3.96%), DLF (2.19%), HDIL (2.12%) and Omaxe Ltd. (1.36%) are trading higher.

BSE Oil & Gas index was trading 24.50 points higher at 10,266.29 as Essar Oil (2.45%), BPCL (2.35%), Gail India (2.21%) and Indian Oil (1.63%) are trading in green.

BSE Health Care Index is up by 39.47 points to 4,588.14. The main gainers are Divi’s Lab. (1.74%), Glenmark Pharma (1.64%), Pfizer (1.13%) and Ipca Lab. (0.36%).

BSE Auto grew by 18.77 points to 4,193.54. Leading to its gain are TVS Motor (3.26%), Ashk Leyland (2.87%), Tata Motors (2.03%) and Mahindra & Mahindra (0.31%).

BSE Power index increased by 42.60 points to 2,746. The main gainers are Torent Power (11.86%), GVK Power (3.88%), Suzlon Energy (3.66%) and NTPC (1.90%).

BSE Bankex index is trading lower by 77.07 points at 7,490.10. Losers are HDFC Bank (1.70%), ICICI Bank (1.12%), Kotak Bank (0.59%) and PNB (0.47%).

BSE IT index declined by 46.25 points to trade at 4,393.95 as HCL Technologies (1.81%), TCS (1.24%), Infosys Technologies (1.14%) and Tech Mahindra (1.03%) are trading in red.

Pre Session Market - June 18, 2008

The Indian Market is expected to open on negative note on the back of weak global cues as the US market closed in red and Asian markets are trading mixed. On Tuesday, the Indian market closed with handsome gains due to heavy buying over the ground. The domestic market showed lots of volatility in opening but it jumped up and sustained the momentum till end backed by easing crude oil price and favoring opening of the European markets that gave a support to the market. Encouraging advance tax numbers also boosted the market. The BSE Sensex closed above 15600 mark and the NSE Nifty 4600 mark. The crude oil price reached an all time high of $139.89 a barrel on Monday and it slipped back to $132.84 on Tuesday before ending the day at $134.61. From the sectoral front, all indices closed in green in addition to this banking, capital goods, reality and oil & gas stocks held most of the gains of market. The BSE Sensex closed higher by 301.08 points at 15,696.90 and NSE Nifty ended up by 80.50 points at 4,653.00. We expect that market may remain cautious during the trading.

US markets closed lower on Tuesday after the government reported a decline in housing starts to their lowest level in more than 17 years and a sharp rise in producer prices in May. The U.S. Commerce Department reported starts of new houses have declined 3.3% on the month in May. Production in factories, mines and utilities declined 0.2% for the same month after dropping 0.7% in April. Bank shares dropped after Goldman Sachs warned on credit crisis. According to Goldman, banks may need to raise another $65 bn in capital to shore up balance sheets weakened by the mortgage crisis , which adds on to negative sentiment.

The Dow Jones Industrial Average (DJIA) closed lower by 108.78 points at 12,160.30 along with NASDAQ down by 17.05 points to close at 2,457.73 and S&P 500 dropped by 9.21 points to close at 1,350.93.

Indian ADRs ended mixed. In technology sector, Patni Computers went up by (0.03%) while Infosys dropped by (0.32%) along with Satyam by (0.12%) and Wipro by (0.04%). In banking sector, ICICI bank and HDFC bank advanced by (1.22%) and (0.71%) respectively. In telecommunication sector, Tata Communication rose (4.16%) however MTNL fell by (1.77%). Sterlite industries inclined (0.86%).

Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading higher by 57.40 points at 14,405.77 along with Hang Seng index trading up by 40.34 points at 23,098.33, while Taiwan Weighted trading at 8,194.77 with a fall of 7.02 points.

The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,282.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,815.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs532.80) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,539 and resistance at 4,728 and BSE Sensex has support at 15,324 and resistance at 15,920.

Post Session Market - June 17, 2008

Indian market ended with handsome gains due to heavy buying support across the counters. The domestic market opened by showing a lot of volatility but bounced back and maintained the strength since afternoon. Further it continued to trade higher backed by easing crude oil price and favoring opening of the European markets that gave a support to the market. The BSE Sensex closed above 15600 mark and the NSE Nifty 4600 mark. The crude oil price reached an all time high of $139.89 a barrel on Monday and it slid back to $132.84 today before ending the day at $134.61. From the sectoral front, all indices closed in green and banking, capital goods, reality and oil & gas stocks held most of the gains of market. Metal index recovered after mid session and IT stocks recovered during final trading hours. The bank index outperformed as it advanced 4.29%. The market breadth was positive as 1,802 stocks closed in green while 882 stocks closed in red.

Regarding the advance tax payments, SBI has recorded a 32% growth in advance tax payment to Rs663 crore for April-June 2008 as against Rs503 crore reported last year. The ICICI bank’s tax outgo during the period stood at Rs340 crore from Rs250 crore last year. HDFC Bank has paid Rs140 crore making a growth of 40% over the last years of Rs95 crore. From the Oil and Gas sector, Reliance industries paid Rs340 crore during April-June 2008 representing a growth of 15% over the last year’s Rs295 crore.

The finance minister has projected a direct tax collection of Rs 3,65,000 crore for the current fiscal.

The BSE Sensex closed higher by 301.08 points at 15,696.90 and NSE Nifty ended up by 80.50 points at 4,653.00. The BSE Mid Caps and Small Cap closed positive with increase of 100.46 points and 112.19 points at 6,400.18 and 7,781.30 respectively. The BSE Sensex touched intraday high 15,732.75 and intraday low of 15,357.98.

Gainers from the BSE are HDFC (5.99%), Maruti Suzuki (5.22%), HDFC Bank (4.87%), ONGC (4.77%), SBI (4.57%), JP Assoc (4.51%), Reliance Infra (4.13%), L&T Ltd (3.73%) and DLF Ltd (2.99%).

The Banking index closed up by 311.54 points at 7,567.17. Gainers are IOB (8.49%), Axis Bank (7.89%), Kotak Bank (7.45%), Bank of India (5.92%), Bank of Barod (5.87%), OBC (5.60%) and Canara Bank (5.34%).

The Capital Goods index increased by 260.07 points to close at 12,363.27. Major gainers are Kirloskar Br Sr (4.82%), Areva (3.98%), L&T Ltd (3.73%), Punj Lloyd (3.48%), Alstom Proje (3.26%) and Praj Indus (2.91%).

The Reality Index closed higher by 228.32 points at 6,099.19. Gainers are Indiabulls Real (6.34%) along with Unitech Ltd (4.70%), Ansal Infra (4.36%), Anant Raj (4.46%), Pheonix Mill (3.90%), DLF Ltd (2.99%) and Housing Development (2.75%).

The Oil & Gas index closed up by 225.73 points at 10,241.79. As ONGC (4.77%), Essar Oil Ltd (3.92%), Reliance Petroleum (2.96%), Reliance Natural Resources (2.91%), HPCL (2.16%) and Reliance (1.94%) closed in positive territory.

The Metal index closed up by 142.09 points at 15,516.86. Gainers are SH Precoated (8.90%), Ispat Industries (3.29%), Jindal Steel (3.29%), Steel Auth (3.17%), Bhushan Steel (1.70%), and Gujarat Nre C (1.50%).

The Consumer Durables index increased by 79.52 points to close at 4,037.64 as Titan Ind (5.36%), Gitanjali Ge (1.57%), Blue Star L (0.95%), Videocon India (0.94%) and Lloyd Ele En (0.91%) closed in positive territory.

IT index advanced by 26.85 points to close at 4,440.20. Major gainers are Aptech Ltd (9.18%), Financ Tech (8.44%), I-Flex (4.51%), Tech Mahindra (3.03%) and NIIT Ltd (2.42%)

Mid Session Market - June 17, 2008

The market has gained further ground due to the sustained buying interest across the board. The BSE has surpassed the 15500 mark and the NSE Nifty crossed the 4600 mark. The buying is seen in the Bank, Realty, Capital Goods and Consumer Durables stocks. The BSE Mid Cap and BSE Small Cap are also trading in line with the benchmark index. The overall market breadth is positive, as 1527 stocks are advancing while 873 stocks are declining and the 73 stocks remained unchanged on BSE. The BSE Mid cap is higher by 57.51 points at 6,357.24 and the BSE small Cap advanced by 64.21 points to trade at 7,733.32. At 12.30 pm, BSE Sensex was at 15,549.25 up by 153.43 points and Nifty was at 4,606.70 up by 34.20 points. BSE Metal index advanced by 22.91 points to trade at 15,397.68. The major gainers are Jindal Saw (1.04%), Sterlite Industries (0.80%), Ispat Industries (0.69%) and Jindal Steel (0.51%). Tata Steel is trading lower by (0.51%). The company has formed a joint venture for the power project in Orissa. The company is setting up a Rs 675-crore coal-fired power station in Orissa in alliance with Hyderabad-based Jasper Industries. BSE Capital goods index surged by 192.22 points to 12,295.42. The main gainers are L&T (3.62%), BHEL (1.93%), BEML (1.32%) and Siemens (1.13%). BSE Bankex index is trading higher by 195.55 points at 7,451.18. Gainers are HDFC Bank (4.87%), SBI (3.12%), ICICI Bank (2.14%) and PNB (1.60%). BSE Realty increased by 153.59 points to 6,024.46. Leading to its gain are India Bull Real (4.49%), Unitech (2.15%), Parsavnath (1.65%), HDIL (1.97%) and Omaxe Ltd. (1.71%) are trading higher. BSE Oil & Gas index was trading 22.81 points higher at 10,038.87 as Essar Oil (1.67%), ONGC (1.17%), HPCL (1.32%) and BPCL (0.78%) are trading in green. BSE IT index inclined by 21.67 points to trade at 4,435.02 as Wipro (2.56%), TCS (1.28%), Mphasis (0.66%) and Infosys Technologies (0.33%) are trading in green. BSE Health Care Index is up by 10.26 points to 4,532.81. The main gainers are Cadila Healthcare (1.74%), Cipla (1.18%), Ranbaxy Lab. (0.64%) and Glaxosmith (0.55%). BSE Auto grew by 36.14 points to 4,160.02. Leading to its gain are Hero Honda (1.79%), Mahindra & Mahindra (1.39%), Maruti Suzuki (1.38%) and Tata Motors (0.82%). BSE Power index increased by 16.60 points to 2,684.80. The main gainers are Power Grid (2.48%), Torent Power (1.54%), NTPC (0.81%) and Suzlon Energy (0.58%).

Pre Session Market - June 17, 2008

The Indian Market is expected to open positive on the back of mixed global cues as the US market closed mixed and Asian markets are also trading mixed. On Monday, the Indian market closed on positive zone due to heavy buying across the ground. The domestic market opened with positive note on the back of strong global cues and maintained the balance throughout the trading. From the sectoral front, realty, banking, metal, technology and oil & gas stocks held gains of market while consumer durables and auto stocks were out of favor during final trading hours. Due to increase in excise duty by Union government on large cars, multi-utility vehicles and sports utility vehicles with an engine cubic capacity exceeding 1500, auto stocks dropped. The BSE Sensex closed higher by 206.20 points at 15,395.82 and NSE Nifty ended up by 55.40 points at 4,572.50. We expect that market may give up some of its yesterday’s gains during the trading session.

Oil surged to a new record high on Monday of nearly $140 a barrel, pushed by weakness in the dollar which offset the bearish impact of plans by Saudi Arabia to increase output by the next month by about a half million barrels a day.

On Monday, U.S. stock indexes were mixed, due to rise in oil prices and fall in the U.S. dollar against the euro and the yen and also weakening of manufacturing in June for four times in five months. It softened 5 points to negative 8.7 in June. Lehman Brothers announcement also add on to negative sentiment about loss of $2.8 billion for second quarter.

The NASDAQ closed higher by 20.28 points at 2,474.78 along with S&P 500 up by 0.11 points to close at 1,360.14 while Dow Jones Industrial Average (DJIA) dropped by 38.27 points to close at 12,269.08.

Indian ADRs ended mixed. In technology sector, Patni Computers went up by (1.83%) while Satyam dropped by (1.28%) along with Wipro by (0.59%) and Infosys by (0.51%). In banking sector, HDFC bank and ICICI bank increased by (1.32%) and (0.63%) respectively. In telecommunication sector, MTNL advanced by (0.67%) while Tata Communication decreased by (2.55%). Sterlite industries inclined (1.36%).

Today the major stock markets in Asia are trading mixed. Hang Seng index is trading higher by 44.39 points at 23,074.08 along with Japan’s Nikkei trading up by 18.51 points at 14,372.88. However, Taiwan Weighted trading at 8,107.37 down by 62.40 points.

The FIIs on Monday stood as net seller in equity. The gross equity purchased was Rs2,712.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,763.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs51.80) Crore and net debt was Rs0.00 Crore
.
Today, Nifty has support at 4,468 and resistance at 4,635 and BSE Sensex has support at 15,126 and resistance at 15,590.

Post Session Market - June 16, 2008

Indian market ended in green on the back of buying support from realty, banking, metal, technology and oil & gas stocks. The domestic market opened with positive note and was trading firm on the back of strong global cues and slide in crude oil prices. Further it continued to trade in positive territory with gaining investors’ confidence and ended on a upbeat note. The BSE Sensex was trading above 15300 mark and the NSE Nifty 4500 mark. Oil crude futures fell on Monday and stood marginally above $134 a barrel after the UN chief informed that the top OPEC crude producer Saudi Arabia had agreed to increase its output by the next month by about a half million barrels a day to help record high prices. From the sectoral front, realty, banking, metal, technology and oil & gas stocks held gains of market while consumer durables and auto stocks were out of favor during final trading hours. Due to increase in excise duty by Union government on large cars, multi-utility vehicles and sports utility vehicles with an engine cubic capacity exceeding 1500, auto stocks dropped. The market breadth was positive as 1,776 stocks closed in green while 872 stocks closed in red.

The BSE Sensex closed higher by 206.20 points at 15,395.82 and NSE Nifty ended up by 55.40 points at 4,572.50. The BSE Mid Caps and Small Cap closed positive with increase of 71.55 points and 87.39 points at 6,299.72 and 7,669.11 respectively. The BSE Sensex touched intraday high 15,553.37 and intraday low of 15,333.07.

Gainers from the BSE are Reliance Infra (4.31%), ICICI Bank (4.43%), Reliance Infra (3.97%), Bharti Airtel (3.15%), NTPC Ltd (3.07%), Cipla Ltd (2.58%), HDFC Bank Ltd (2.50%), DLF Ltd (2.39%) and Infosys Tech (2.34%).

The Reality Index closed higher by 200.64 points at 5,870.87. Gainers are Indiabulls Real (6.75%) along with Unitech Ltd (5.63%), Purvankara (4.32%), Pheonix Mill (4.17%), Housing Development (3.66%), Penland Ltd (3.02%) and DLF Ltd (2.39%).

The Banking index closed up by 199.39 points at 7,255.63. Gainers are Axis Bank (4.51%), ICICI Bank (4.43%), Bank of Baroda (4.01%), PNB (3.82%), Union Bank (3.55%) and IOB (2.57%).

The Metal index increased by 188.85 points to close at 15,374.77. Major gainers are Welspan Gujarat Sr (9.63%), Jindal Saw (7.14%), JSW SL (5.10%), Sterlite Industries (3.25%),Gujarat Nre C (2.36%) and Jindal Stainless Steel (2.01%).

The Oil & Gas index closed up by 99.05 points at 10,016.06. As Gail India (4.50%), BPCL (3.37%), Essar Oil Ltd (3.23%), HPCL (1.77%), Reliance Natural Resources (1.11%) and Reliance Petroleum (0.81%) closed in positive territory.

The IT index closed upward by 77.29 points at 4,413.35. Gainers are NIIT Tech (3.14%), Patni Computer (2.48%), Infosys Tech (2.34%), Rolta India (2.23%), Financ Tech (2.19%), and Aptech Ltd (2.05%).

The Consumer Durables index decreased by 23.43 points to close at 3,958.12 as Titan Ind (2.55%), Lloyd Ele En (1.74%), Videocon India (0.43%) and Blue Star L (0.34%) closed in negative territory.

Auto index dropped by 5.91 points to close at 4,123.88. Major losers are Herohonda Motors (1.83%), Bharat Forge (1.44%), Marutisuzuki (0.52%), Apollo Tyre (0.51%) and M&M (0.23%)

Mid Session Market - June 16, 2008

The market has maintained its opening gains and is still trading higher as strong buying support witnessed across the board. The buying interest is seen in the Realty, Bank, IT and Metal stocks. The BSE Sensex is trading around the 15500 mark and the NSE Nifty is trading near the 4600 mark. The BSE Mid Cap and BSE Small Cap are also trading in line with the benchmark index.

The overall market breadth is positive, as 1803 stocks are advancing while 583 stocks are declining and the 61 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 111.80 points at 6,339.98 and the BSE small Cap advanced by 121.88 points to trade at 7,703.60.

At 12.30 pm, BSE Sensex was at 15,468.39 up by 278.76 points and Nifty was at 4,590.30 up by 73.20 points.

BSE Metal index advanced by 256.65 points to trade at 15,442.57. The major gainers are JSW Steel (6.02%), Tata Steel (2.19%), Sterlite Industries (1.96%) and SAIL (1.79%).

BSE Capital goods index surged by 203.48 points to 12,222.64. The main gainers are Siemens (3.91%), L&T (1.69%), ABB (0.83%) and BHEL (0.77%).

BSE Bankex index is trading higher by 186.56 points at 7,242.80. Gainers are ICICI Bank (3.49%), HDFC Bank (2.30%), PNB (1.98%) and SBI (0.64%).

BSE Realty increased by 148.50 points to 5,818.73. Leading to its gain are HDIL (4.91%), Unitech (4.06%), Parsavnath (4.24%), DLF (3.39%) and Purvankara (2.86%) are trading higher.

BSE Oil & Gas index was trading 124.78 points higher at 10,041.79 as BPCL (3.05%), Gail India (2.44%), ONGC (2.11%) and RPL (1.59%) are trading in green.

BSE IT index inclined by 110.69 points to trade at 4,446.75 as I-Flex (8.62%), Tech Mahindra (3.58%), TCS (2.44%) and Infosys Technologies (0.77%) are trading in green.

BSE Health Care Index is up by 43.04 points to 4,537.06. The main gainers are Cipla (2.89%), Sun Pharma (1.56%) and Ranbaxy Lab. (0.78%).

BSE Auto grew by 5.15 points to 4,134.94. Leading to its gain are TVS Motor (1.74%), Tata Motors (1.06%), Ashok Leyland (1.86%) and Maruti Suzuki (0.26%).

BSE Power index increased by 55.55 points to 2,683.28. The main gainers are Power Grid (3.93%), Reliance Infra (3.43%), Tata Power (2.04%) and Torent Power (1.70%).

Pre Session Market - June 16, 2008

The Indian Market is expected to open on firm note on the back of strong global cues as the US market closed in green and Asian markets are trading with positive attitude. On Friday, the Indian market closed with losses after giving up its opening gains. The domestic market opened with positive note but was not able to maintain the balance and slipped soon after the start. It was hovering in negative territory through out the trading session due to the investors’ cautious behavior and ended in red on the back of rise in inflation. Inflation soars to 8.75% for the week ended 31st May 2008 which is highest in the seven years, as against 8.24% in the previous week. From the sectoral front, Metal, Reality, Oil & Gas and Powers stocks witnessed most of the profit booking while stocks of Pharma, Consumer Durables and Banking held gains of market. The BSE Sensex closed lower by 60.58 points at 15,189.62 and NSE Nifty ended down by 22.25 points at 4,517.10. We expect that market may gain some ground during the trading.

On Friday, the US market closed in positive territory due to technology and financial stocks, and lower crude prices helped the market end the week on a high note. Oil price falls to $135 a barrel. The Dow Jones Industrial Average (DJIA) closed higher by 165.77 points at 12,307.35 along with NASDAQ up by 50.15 points to close at 2,454.50 and S&P 500 rose 20.16 points to close at 1,360.03.

Indian ADRS ended positive. In technology sector, Wipro went up by (2.11%) along with Satyam by (2.02%), Infosys by (1.92%) and Patni Computers by (1.27%). In banking sector, ICICI bank and HDFC bank increased by (3.88%) and (0.63%) respectively. In telecommunication sector, MTNL and Tata Communication advanced by (3.23%) and (0.86%). Sterlite industries inclined by (1.50%).

Today the major stock markets in Asia are trading in green on Wall Street rally. Hang Seng index is trading higher by 374.00 points at 22,966.30 along with Japan’s Nikkei trading up by 205.89 points at 14,179.62 and Taiwan Weighted trading at 8,215.54 advanced by 109.95 points.

The FIIs Friday stood as net seller in equity. The gross equity purchased was Rs3,169.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs4,311.20 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs1,141.70) Crore and net debt was Rs0.00 Crore.

Crude oil futures for the month of July delivery closed lower by $1.88 at $134.86 per barrel on New York Mercantile Exchange. Saudi Arabia, which is the world''s biggest oil exporter, is planning to raise its output by the next month by about a half million barrels a day. At present it is pumping 9.45 million barrels a day, with an improvement of about 0.3 million barrels from last month.

Today, Nifty has support at 4,449 and resistance at 4,613 and BSE Sensex has support at 14,979 and resistance at 15,514.

Post Session Market - June 13, 2008

Indian market slipped down from its opening gain to close in red due to the high inflation put some burden on the investors’ sentiments. Inflation soars to 8.75% for the week ended 31st May 2008 which is highest in the seven years, as against 8.24% in the previous week. The domestic market opened with positive note but was not able to maintain the balance and slipped soon after the start. Further it continued to trade in negative territory with some unsuccessful attempts to recover during afternoon. Investors’ cautious behavior on high inflation forced market to close with loss. The BSE Sensex kept on trading around the 15200 mark and the NSE Nifty around the 4500 mark. From the sectoral front, Metal, Reality, Oil & Gas and Powers stocks witnessed most of the profit booking while stocks of Pharma, Consumer Durables and Banking held gains of market. The market breadth was positive as 1,445 stocks closed in green while 1156 stocks closed in red.

The BSE Sensex closed lower by 60.58 points at 15,189.62 and NSE Nifty ended down by 22.25 points at 4,517.10. The BSE Mid Caps and Small Cap closed positive with increase of 4.67 points and 55.82 points at 6,228.17 and 7,581.72 respectively. The BSE Sensex touched intraday high 15,337.10 and intraday low of 15,135.81.

Losers from BSE are JP associates (4.03%), DLF Ltd (3.61%), HDFC Bank (3.45%), Cipla Ltd (2.63%), HUL (2.54%), Reliance Infra (2.50%), Maruti Suzuki (1.97%) and Tata Steel (1.81%).

Gainers from the BSE are Ranbaxy lab (4.31%), ICICI Bank (3.03%), BHEL (2.79%), TCS Ltd (2.16%), Tata motors (1.74%) and ONGC (1.21%).

The Metal index decreased by 322.72 points to close at 15,185.95. Major losers are JSW SL (5.05%), Sterlite Industries (4.27%), Sesa Goa Ltd (2.50%), Ispat Industries (2.06%), Steel Authority (1.81%) and Tata Steel (0.81%).

The Reality Index closed lower by 150.67 points at 15,670.23. Losers are Pheonix Mill (6.87%) along with Indiabulls Real (15.52%), DLF Ltd (3.61%), Omaxe Ltd (3.02%), Ansal Infra (2.83%), Purvankara (2.81%) and Parsvnath (2.43%).

The Oil & Gas index closed down by 57.93 points at 9,917.01. As Essarv Oil Ltd (3.77%), Reliance Nat Res (3.12%), HPCL (3.04%), Cairn India (1.18%), BPCL (1.12%) and Reliance (0.59%) closed in negative territory.

The Power index closed downward by 28.73 points at 2,627.73. Losers are Tata Power (4.87%), Reliance Infra (2.50%), Suzlon Energy (2.45%), CESC Ltd (2.35%), and Siemens Ltd (1.86%).

The Consumer Durables index increased by 68.15 points to close at 3,981.55 as Rajesh Exports (8.76%), Blue Star L (5.14%), Titan Ind (1.03%) and Lloyd Ele En (0.15%) closed in positive territory.

The Health Care index closed up by 52.87 points at 4,494.02. Gainers are Glenmkark Pharma (5.26%), Aurbindo Pharma (5.23%), Pfizer Ltd (4.76%), Ranbaxy Lab (4.31%), Dr Reddy’s Lab (3.96%) and Aventis Pharma (3.51%).

Mid Session Market - june 13, 2008

The market is still trading lower on the back of the inflation figure. The inflation numbers for the week ended May 31 came in higher than expected at 8.75% as against 8.24% in earlier week. This is much higher than expectations of 8.32%. The selling pressure continues in the selective scrips mainly led by the Realty, FMCG, Metal and Power stocks. Howevr, the IT, Pharma and Bank stocks are trading higher. However, the BSE Mid Cap and BSE Small Cap are trading with significant gain.

The overall market breadth is negative, as 1309 stocks are advancing while 1008 stocks are declining and the 74 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 11.40 points at 6,234.90 and the BSE small Cap advanced by 50.15 points to trade at 7,576.05.

At 12.30 pm, BSE Sensex was at 15,243.01 down by 7.19 points and Nifty was at 4,517.60 down by 21.75 points.

BSE Bankex index is trading higher by 50.85 points at 7,088.74. Losers are HDFC Bank (2.02%), Bank of India (1.61%), Bank of Baroda (1.25%) and AXIX Bank (0.53%).

BSE IT index inclined by 49.53 points to trade at 4,395.35 as I-Flex ( 8.62%), Tech Mahindra (3.58%), TCS (2.44%) and Infosys Technologies (0.77%) are trading in green.

BSE Health Care Index is up by 46.03 points to 4,487.18. The main gainers are Pfizer (6.54%), Glenmark Pharma (4.50%), Ranbaxy Lab. (4.41%) and Biocon (1.10%).
World''''s largest drug maker, Pfizer Inc. is planning to make a hostile bid for Ranbaxy Laboratories Ltd., countering an agreed takeover by Daiichi Sankyo Co. Pfizer which is based in New York, may offer to buy the 65% of Ranbaxy that''''s not held by the founding Singh family.

BSE Capital goods index dropped by 11.40 points to 11,978.31. The main losers are Punj Lloyd (2.98%), Praj Industries (2.23%), ABB (1.28%) and Siemens (1.26%).
L&T plans to invest Rs 25,000 crore in the next five years in projects to generate a total of 5,000 MW of power.

BSE Oil & Gas index was trading 50.62 points lower at 9,924.32 as HPCL (2.54%), RNRL (2.53%), Essar Oil (2.32%) and BPCL (2.16%) are trading in red.

BSE Auto fell by 15.23 points to 4,133.32. Leading to its fall are Hero Honda (2.32%), Maruti Suzuki (1.98%), Ashok Leyland (1.22%) and Mahindra & Mahindra (0.48%).

BSE Realty slipped by 106.33 points to 5,714.57. Leading to its fall are India Bull Real (4.47%), Omaxe Ltd. (2.58%), Unitech (1.98%), DLF (1.95%) and Sobha Deveopers (1.76%) are trading lower.

DLF with other major real estate players including Parsvnath, Omaxe, TDI, Ansals and Unitech has shown interest in joining hands with the Punjab government in its bid to provide affordable houses of not more than Rs 1 lakh each in the state.

BSE Metal index dropped by 147.66 points to trade at 15,360.98. The major losers are SAIL (3.04%), JSW Steel (3.03%), NALCO (2.33%) and Sterlite Industries (2.21%).

BSE Power index decreased by 20.71 points to 2,635.75. The main losers are Tata Power (3.13%), NTPC (1.81%), Reliance Infra (1.67%) and Power Grid (1.28%).

Pre Session Market - June 13, 2008

The Indian Market is expected to have positive opening on the back of mixed global cues. On Thursday, the Indian market closed upbeat after recovering from earlier losses towards final trading hours. The market opened with bad temper on the back of weak global cues and was trading without any sign of recovery. It was hovering in negative territory but started recovering smartly after industrial production data released which was better than expected and bounced back to close in green. The IIP growth for the month of April 2008 stood at 7%, which was lower against 11.3% in the corresponding month of the previous year but better than 3.9% in the month of March 2008. From the sectoral front, Oil & Gas, Metal and Capital Goods stocks witnessed most of the buying interest. The BSE Sensex closed higher by 64.88 points at 15,250.20 and NSE Nifty ended up by 15.75 points to close at 4,539.35. We expect that market may remain volatile and inflation figure for the week ending 31st May 2008 due out today, will give further direction to the market.

The Reserve Bank of India on Wednesday raised repo rate by 25 basis points to 8% to curb inflation, and according to analysts more tightening is expected if inflation continued to head towards double digits. This hike is signal of rise in interest rates. Interest rate sensitive sectors like bank though faced the heavy selling across the counters but made a smart pull back towards the end. The Auto index also made a smart come back ignoring the repo rate hike to close almost on a flat note.

On Thursday, the US market closed in positive territory on M&A news of $46 billion takeover bid for Anheuser-Busch and better than expected retail sales. It opened higher with oil slipping and positive retail sales. It give back its earlier gains but still maintained to close in positive. New York''s main oil futures contract, light sweet crude for July delivery, eased 19 cents to $136.55 a barrel.

The Dow Jones Industrial Average (DJIA) closed higher by 57.81 points at 12,141.58 along with NASDAQ went up by 10.34 points to close at 2,404.35 and S&P 500 advanced by 4.38 points to close at 1,339.87.

Indian ADRS ended mixed. In technology sector, Satyam grew by (5.69%) along with Wipro by (4.41%), Infosys by (3.43%) while Patni Computers dropped by (0.17%). In banking sector, ICICI bank and HDFC bank increased by (8.12%) and (4.42%) respectively. In telecommunication sector, Tata Communication and MTNL dropped by (2.27%) and (1.36%). Sterlite industries inclined by (2.02%).

Today the major stock markets in Asia are trading in red on inflation fears. Hang Seng index is trading lower by 154.13 points at 22,869.73 along with Taiwan Weighted trading at 8,089.91 down by 27.60 points and Japan’s Nikkei index trading down by 22.31 points at 13,866.29.

The FIIs Thursday stood as net seller in equity. The gross equity purchased was Rs3,768.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,919.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs(151.50) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,455 and resistance at 4,642 and BSE Sensex has support at 15,030 and resistance at 15,529.