Post Session Market - July 31 , 2008

The domestic market finally managed to end the day with gains after it witnessed volatility for throughout of trading session and remained in a narrow range ahead of F&O expiry day and inflation number for the week ended 19th July 2008, which has to come out today evening. Market opened in upbeat note tracking favorable global cues from global markets but was not able to sustain the momentum and slipped to negative territory soon after start . Further, market turned choppy and skipped up and down. Alternative shifts of buying and selling were witnessed during the trading hours but strong buying support during the final hours of trading led the market to close in green. NSE Nifty maintained the level of 4,300 and BSE Sensex maintained 14,300 level. On the sectoral front, Metal, Oil & Gas, Capital Goods and Reality stocks gained favor from the market as witnessed buying from these baskets. However, Pharma, IT and Reality stocks observed selling pressure. The market breadth was negative as 1296 stocks closed in green while 1326 stocks closed in red and 75 stocks remained unchanged.

The BSE Sensex closed higher by 68.54 points at 14,355.75 and NSE Nifty ended up by 19.40 points at 4,332.95. The BSE Mid Caps closed with losses of 13.64 points at 5,567.37 and Small Cap ended down by 14.81 points 6,912.79. The BSE Sensex touched intraday high of 14,369.59 and intraday low of 14,161.76.

Gainers from the BSE are Tata Power (4.00%), Tata Steel (3.95%), DLF Ltd (3.79%), SBI (2.03%), Reliance (1.99%), Sterlite In (1.50%), M&M Ltd (1.37%), Ranbaxy Lab (1.29%), Hindalco (0.68%) and BHEL (0.61%).

Lossers from the BSE are Tata Motors (3.13%), Grasim Indus (2.78%), MAruti Suzuki (2.36%), Wipro Ltd (1.53%), Bharti Airtel (1.33%), Infosys Tech (1.20%), ACC Ltd (1.12%), TCS Ltd (0.72%), Relaince Infra (0.58%) and Reliance Com Ltd (0.47%).

The Metal index closed up by 213.91 points at 12,912.61. Gainers are NMDC Ltd (4.98%), Tata Steel (3.95%), Steel Authority (3.42%), Sterlite In (1.50%), Ispat Industries (1.36%), and Sesa Goa Ltd (1.25%).

The Oil & Gas index ended up by 121.74 points at 9,729.48. As Cairn India (2.55%), Reliance (1.99%), Essar Oil Ltd (0.83%), ONGC (0.59%), Gail India (0.44%) and Reliance Pet (0.30%) closed in positive territory.

The BSE Capital Goods index gained 55.43 points to close at 11,683.80. Major gainers are Elecon Eng C (4.73%), Seimens Ltd (4.19%), Aiaengineer (3.51%), Usha Martin (3.51%), Everest Kanto (2.31%) and Suzlon Energy (1.83%).

The BSE Reality index ended higher by 37.13 points at 5,079.01. As DLF Ltd (3.79%), Mahindra Life (3.24%), Penland Ltd (2.56%), Sobha Dev (2.49%), Omaxe Ltd (2.10%), Unitech Ltd (0.86%), and Pheonix Mill (0.73%) closed in positive territory.

The BSE Pharma index closed lower by 45.88 points at 4,162.03. Lossers are Sterl Biotec (13.36%), Matrix Labs (3.54%), Bilcare Ltd (3.25%), Dr Reddy’s Lab (2.78%), Wockhardt Ltd (2.48%), Glenmark Pharma (2.24%), and Sun Pharma (1.78%).

The BSE IT index lost 32.52 points to close at 3,689.57. Major losers are Patni Computer (3.23%), Financ Tech (3.09%), Moser Bayer (3.07%), Aptech Ltd (2.04%), Wipro Ltd (1.53%) and HCL Tech (1.47%).

Mid Session Market - July 31 , 2008

The markets are facing a little bit of volatility and are swinging between the positive and negative territory. The buying support is seen in the Metal, Oil & Gas, Power and Consumer Durables stocks. However, the FMCG, Bank, and Auto stocks are trading lower. The BSE Mid Cap and BSE Small cap are however trading higher. The BSE is now hovering above the 14200 mark and the NSE Nifty is trading above the 4300 mark

The overall market breadth is positive as 1210 stocks are advancing while 1090 stocks are declining and the 85 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 11.90 points at 5,592.91 and the BSE small Cap is up by 6.73 points to trade at 6,934.33.

At 12.30 pm, BSE Sensex was at 14,255.70 down by 31.51 points and the NSE Nifty was at 4,319.25 up by 5.70 points.

BSE Metal index surged by 216.25 points at 12,914.86 as Tata Steel (2.68%), SAIL (2.39%), Hindalco Industries (1.14%) and Sterlite Industries (0.43%) are trading in green.

BSE Oil & Gas index was trading 63.89 points higher at 9,671.64 as Cairn India (3.74%), Gail India (3.55%), ONGC (0.66%) and RPL (0.27%) are trading in positive.

BSE Capital goods index advanced by 28.07 points to 11,656.44. The main gainers are Siemens (3.50%), Praj Industries (1.49%), Gammon India (4.93%).

BSE Power index increased by 21.28 points to 2,575.50. Gainers are Tata Power (2.10%), Suzlon Energy (1.07%) and NTPC (1.49%).

BSE Bankex index is trading lower by 72.12 points at 6,450.5. Losers are PNB (3.56%), SBI (1.97%), ICICI Bank (1.51%) and HDFC Bank (1.12%).

BSE Realty index slipped by 27.42 points to 5,014.46. The major losers are India Bull Real (5.32%), Ansal Infra. (2.15%), Parsavnath (0.49%) and HDIL (0.33%).

BSE Auto index decreased by 31.44 points to 3,641.42. The top losers are Tata Motors (4.52%), Maruti Suzuki (1.91%) while Hero Honda (0.93%) and Mahindra & Mahindra (0.69%) are trading higher.

BSE IT index declined by 16.45 points to trade at 3,705.64 as TCS (1.64%), Infosys Technologies (0.51%), and Satyam Computer (0.49%) trading in negative.

Pre Session Market - July 31 , 2008

The Indian Market is expected to have positive opening as US markets closed with gains and Asian markets are trading mixed. On Wednesday, the Indian market closed heavy gains due to strong buying over the counters led by favorable global cues global cues and steep drop in crude oil price. The domestic market opened sharply higher tracking strong cues from the global markets. Further, market traded sharply higher without any sign of weakness and continued to gain ground through out of the trading session. NSE Nifty gained around 3% and ended above 4,300 mark and BSE Sensex closed with gains of more than 3% and ended above 14,200 level. All indices except FMCG closed in green. Out of which, Bank and Reality indices rallied to close with a gain of more than 5%. Along with this, the Metal, Capital Goods, Oil & Gas, IT and Power stocks also witnessed sustained buying from these baskets. The BSE Sensex closed higher by 495.67 points at 14,287.21 and NSE Nifty ended up by 127.35 points at 4,317.20. We expect that market may remain volatile during the trading session ahead of F&O expiry day and inflation number for the week ended 19th July 2008, which has to come out today evening.

On Wednesday, the US market was closed with gains influenced by the latest ADP employment report that showed an unexpected 9,000 increase in July private non-farm jobs. A news about Fed’s extension of the length of its Term Securities Lending Facility program also added positive sentiment. These entire positive cues off sets the surge in crude. Crude advanced $4.58 to settle at $126.77 a barrel on the NYMEX.

The Dow Jones Industrial Average (DJIA) closed higher by 186.13 points at 11,583.69 along with S&P 500 index ended up by 21.06 points at 1,284.26 and NASDAQ closed higher by 10.10 points at 2,329.72.

Indian ADRs ended mixed. In technology sector, Patni Computers ended lower by (4.93%) along with Infosys by (0.69%) and Satyam by (0.40%) while Patni Computers remained unchanged. In banking sector, HDFC bank and ICICI bank dropped (2.03%) and (1.45%) respectively. In telecommunication sector, Tata Communication ended up by (3.49%) along with MTNL by (3.02%). Sterlite industries increased by (7.83%).

Today the major stock markets in Asia are trading mixed. Hang Seng index is trading higher by 68.19 points at 22,758.79 along with Taiwan Weighted trading up by 18.93 points at 7,089.28 while Japan’s Nikkei dropped 78.93 points at 13,288.86.

The FIIs on Wednesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,312.70 Crore and the gross debt purchased was Rs159.30 Crore while the gross equity sold stood at Rs2,3645.00 Crore and gross debt sold stood at Rs33.40 Crore. Therefore, the net investment of equity reported was (Rs332.30) Crore and net debt was Rs125.90 Crore.

Today, Nifty has support at 4,227 and resistance at 4,408 and BSE Sensex has support at 13,989 and resistance at 14,627.

Post Session Market - July 30 , 2008

The domestic market rebounded from yesterday’s losses to close with heavy gains on sustained buying over the ground led by favorable global cues and drop in crude oil prices. Indian market opened higher following positive global cues as crude declined to three month lows. Crude oil prices dropped by $2.54 to close at $122.19 a barrel on the NYMEX. Further, market traded sharply higher without any sign of weakness for through out of trading session. The interest rate sensitive like Bank and Real Estate shares, who were the major laggards yesterday made a smart come back in today session to conclude the day with hefty gains. NSE Nifty gained around 3% and ended above 4,300 mark. BSE Sensex closed with gains of more than 3% and ended above 14,200 level. The sharp rise was due to the heavy buying activities over the counters across all indices except FMCG stocks. Out of which, Bank and Reality indices rallied to close with a gain of more than 5%. Along with this, the Metal, Capital Goods, Oil & Gas, IT and Power stocks also witnessed heavy buying from these baskets. The market breadth was strong as 1784 stocks closed in green while 857 stocks closed in red and 83 stocks remained unchanged.

The BSE Sensex closed higher by 495.67 points at 14,287.21 and NSE Nifty ended up by 127.35 points at 4,317.20. The BSE Mid Caps closed with gains of 92.43 points at 5,581.01 and Small Cap ended up by 96.59 points 6,927.60. The BSE Sensex touched intraday high of 14,322.67 and intraday low of 14,002.19.

Gainers from the BSE are HDFC (7.99%), Tata Steel (7.83%), Tata Power (6.92%), Reliance Infra (6.90%), HDFC Bank Ltd (6.18%), Reliance Infra (10.36%), Sterlite In (5.13%), SBI 4.97%), Tata Motors (4.91%) and Wipro Ltd (4.90%).

Among the Sensex 30 pack 28 stocks closes in green and only two closed in red. Losers from the BSE are NTPC Ltd (4.23%) followed by ITC Ltd (1.11%).

The Metal index closed up by 568.34 points at 12,698.70. Gainers are Jindal Steel (8.92%), Tata Steel (7.83%), Hindustan Zinc (6.77%), Sterlite In (5.13%), NMDC Ltd (5.00%), and Gujarat Nre C (3.81%).

The BSE Bank index closed higher by 323.02 points at 6,522.62. Major gainers are Axis Bank (9.60%), Bank of Baroda (9.24%), Union Bank (6.69%), HDFC Bank Ltd (6.18%), Bank of India (5.37%), PNB (4.97%), ICICI Bank Ltd (4.59%), and Yes Bank (4.52%).

The BSE Capital Goods index gained 307.77 points to close at 11,628.37. Major gainers are Punj Lloyd (11.88%), Reliance Industrial Infra (5.00%), Walchand Ind (5.00%), BHEL (4.83%), Crompton Greaves (4.45%) and Jyoti Struct (3.95%).

The Oil & Gas index ended up by 304.17 points at 9,607.74. As Reliance Natural Resources (11.15%), BPCL (6.03%), IOC (5.16%), Reliance (3.74%), Gail India (3.37%) and Cairn India (3.37%) closed in positive territory.

The BSE Reality index ended higher by 244.17 points at 5,041.88. As Indiabulls Real (13.48%), Anant Raj (6.98%), Ansal Infra (5.72%), DLF Ltd (3.98%), Akruti City (3.88%), Unitech Ltd (3.41%), and Pheonix Mill (2.95%) closed in positive territory.

The BSE FMCG index lost 3.06 points to close at 2,133.22. Major losers are REI agro Ltd (4.78%) and ITC Ltd (1.11%).

Mid Session Market - July 30 , 2008

The markets have gained further grounds and are trading strongly backed the strong buying support continued across the board. The most buying is seen in the Banking, Metal, Realty and Power stocks. The Bse Mid Cap and BSE Small cap are also trading higher with a gain of more than 1.5% each. The BSE is now trading above the 14200 mark and the NSE Nifty is trading near the 4300 mark

The overall market breadth is positive as 1746 stocks are advancing while 610 stocks are declining and the 67 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 95.07 points at 5,583.65 and the BSE small Cap is up by 102.95 points to trade at 6,933.97.

At 12.30 pm, BSE Sensex was at 14,204.28 up by 412.73 points and the NSE Nifty was at 4,295.25 up by 105.39 points.

BSE Capital goods index advanced by 264.70 points to 11,585.30. The main gainers are BHEL (4.66%), ABB (2.23%), Siemens (1.92%) and L&T (1.47%).

BSE Bankex index is trading higher by 288.92 points at 6,488.52. Gainers are HDFC Bank (6.48%), ICICI Bank (5.17%), PNB (4.62%) and SBI (3.82%).

BSE Metal index surged by 436.18 points at 12,566.54 as Tata Steel (6.42%), SAIL (4%), Sterlite Industries (2.66%) and Hindalco Industries (1.29%) are trading in green.

BSE Oil & Gas index was trading 217.52 points higher at 9,521.09 as Gail India (5.75%), BPCL (4.07%), RPL (2.16%) and ONGC (2.13%) are trading in positive.

BSE Realty index improved by 151.14 points to 4,948.85. The major gainers are India Bull Real (9.11%), HDIL (3.48%), DLF (3.26%) and Sobha Developers (3.14%).

BSE Auto index increased by 52.78 points to 3,625.99. The top gainers are Hero Honda (4.55%), Tata Motors (2.37%), Maruti Suzuki (1.34%) and Mahindra & Mahindra (1%).

BSE Power index increased by 52.91 points to 2,526.72. Gainers are Tata Power (4.70%), Suzlon Energy (4.01%) and Power Grid (3.71%).

BSE IT index inclined by 82.80 points to trade at 3,671.37 as Wipro (3.77%), Satyam Computer (3.06%), Infosys Technologies (2.68%) and TCS (0.87%) trading in positive.

Pre Session Market - July 30 , 2008

The Indian Market is expected to have positive opening on strong global cues as US markets closed with heavy gains and Asian markets are trading higher along with drop in crude oil prices. On Tuesday, the Indian market closed in deep red due to heavy selling over the counters led by weak global cues and RBI’s rate hike. The domestic market opened sharply lower tracking negative cues from the global markets. Further, it lost more ground after RBI’s hike in CRR and Repo Rate and continued to trade on back foot till the end of session. Both NSE Nifty and BSE Sensex closed with losses of more than 3%. The BSE Sensex ended below 13,800 level and NSE Nifty closed below 4,200 mark. All indices closed in red and the interest sensitive indices like Bank and Reality slipped by more than 8% and 5% respectively. Followed by, the Capital Goods index also lost more than 5%. Oil & Gas, Metal, Power and Auto stocks also witnessed heavy selling from these baskets. The BSE Sensex closed lower by 557.57 points at 13,794.31 and NSE Nifty ended down by 142.25 points at 4,189.85. We expect that market may gain some grounds during the trading session.

The Reserve Bank of India has hiked Repo Rates by 50 basis points and Cash Reserve Ratio by 25 basis points on Tuesday (29th July 2008). This hike will be effective from 30th August. The Repo Rate will be at 9% for the first time since October, 2000, and CRR will beat 9% for the first time since November, 1999.

On Tuesday, the US market was closed with gains as oil hit its lowest point since May and Merrill Lynch''s $5.7 billion write-down and share sale. Crude oil prices dropped by $2.54 to close at $122.19 a barrel on the NYMEX. The Dow Jones Industrial Average (DJIA) closed higher by 266.48 points at 11,397.56 along with NASDAQ ended up by 55.40 points at 2,319.62 and S&P 500 index closed higher by 28.83 points at 1,263.20.

Indian ADRs ended with gains. In technology sector, Satyam ended higher by (6.09%) along with Infosys by (4.21%), Wipro by (4.11%) and Patni Computers advanced by (1.58%). In banking sector, ICICI bank and HDFC bank gained (3.20%) and (1.78%) respectively. In telecommunication sector, Tata Communication ended up by (6.49%) while MTNL dropped by (2.74%). Sterlite industries increased by (3.25%).

Today the major stock markets in Asia are trading higher after a strong bounce on Wall Street. Hang Seng index is trading higher by 369.18 points at 22,628.18 along with Japan’s Nikkei trading up by 156.26 points at 13,315.71 and Taiwan Weighted advanced 0.64% points at 7,059.30.

The FIIs on Tuesday stood as net seller in equity and debt. The gross equity purchased was Rs1,696.80 Crore and the gross debt purchased was Rs33.50 Crore while the gross equity sold stood at Rs2,306.10 Crore and gross debt sold stood at Rs323.00 Crore. Therefore, the net investment of equity reported was (Rs609.30) Crore and net debt was (Rs289.50) Crore.

Today, Nifty has support at 4,118 and resistance at 4,282 and BSE Sensex has support at 13,512 and resistance at 14,239.

Post Session Market - July 29 , 2008

The domestic market managed to conclude the day with marginal gains after showing a lot of volatility during the trading session ahead of the RBI''s quarterly review, which is scheduled tomorrow (29-July 2008).The Indian market opened flat and soon turned volatile on sense of uneasiness due to the serial blasts in Bangalore and Ahmedabad. Further it was not able to maintain stability and showed sea saw movement tracking negative cues from the European markets and mixed cues from the Asian Markets. Further, due to some buying from the key indices led the market to close in green. The BSE Sensex ended below 14,400 and NSE Nifty closed below 4,400. BSE Small Cap gained around 2%. From the sectoral front, the Capital Goods, Oil & Gas, Reality, Consumer Durables and Pharma were able go gain favor from market as most of the buying was seen from these baskets. While the Metal, Power, IT and Auto stocks remained out of favor. The market breadth was positive as 1767 stocks closed in green while 848 stocks closed in red and 77 stocks remained unchanged.

The BSE Sensex closed higher by 74.17 points at 14,349.11 and NSE Nifty ended up by 20.25 points at 4,332.10. The BSE Mid Caps and Small Cap closed with gains of 58.19 points and 134.20 points to 5,630.78 and 6,912.98 respectively. The BSE Sensex touched intraday high of 14,421.61 and intraday low of 14,219.38.

Gainers from the BSE are L&T Ltd (3.73), Tata Power (3.56%), ACC Ltd (3.34%), ONGC (3.00%), Ranbaxy Lab (2.60%), Reliance Com Ltd (1.82%), DLF Ltd (1.77%), Reliance (1.48%) and TCS Ltd (1.01%).

The BSE Capital Goods index advanced 168.54 points to close at 11,906.81. Major gainers are Reliance Industrial Infra (5.00%), Walchand In (4.99%), Jyoti Struct (3.95%), L&T Ltd (3.73), Thermax Ltd (2.87%) and Praj Industries Ltd (2.28%).

The Oil & Gas index ended up by 148.48 points at 9,652.90. As ONGC (3.00%), Cairn India (2.23%), BPCL (1.86%), Cairn India (1.84%), Reliance Petroleum (1.72%) and Relaince (1.48%) closed in positive territory.

The BSE Reality index closed higher by 50.06 points at 5,079.12. Major gainers are Pheonix Mill (9.89%), Anant Raj Industries (7.52%), Orbit Co (4.99%), Penland Ltd (4.59%), MAhindra Life (2.42%), and Indian DLF Ltd (1.77%).

The BSE Consumer Durables index gained 36.93 points to close at 3,660.72. Major gainers are Blue star L (3.50%) along with Videocon India (1.80%) and Rajesh Exports (1.02%).

The BSE Pharma index ended up by 16.53 points at 3,202.67. As Ster Biotech (5.34%), Wockhardt Ltd (4.92%), Ranbaxy Lab (2.60%), Biocom Ltd (2.31%), Glaxo Smith (2.20%), Bil Care Ltd (1.92%) and Apollo Hos E (1.52%) closed in positive territory.

The Metal index closed down by 125.38 points at 12,366.72. Lossers are Sterlite In(3.47), Nalco (3.06%), Gujarat Nre C (3.05%), Tata Steel (2.26%), Hindalco (2.21%), and Steel Authority (1.40%).

Mid Session Market - July 29, 2008

The market has lost further grounds after the Reserve Bank of India has raised the repo rate by 50 basis points to 9% from 8.5%. The central bank has also raised the CRR by 25 basis points to 9%. This will come into effect from August 30. All the BSE indices are trading in deep red. The most selling is seen in the Bank, Realty, Capital Goods and Auto stocks. The BSE Sensex has slipped below the 14000 mark and the NSE Nifty below the 4200 mark.

The overall market breadth is negative as 818 stocks are advancing while 1481 stocks are declining and the 74 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 111.15 points at 5,519.62 and the BSE small Cap is down by 57.65 points to trade at 6,855.32.

At 12.30 pm, BSE Sensex was at 13,831.90 down by 517.21 points and the NSE Nifty was at 4,185.45 down by 146.65 points.

BSE Capital goods index dropped by 432.53 points to 11,474.28. The main losers are Siemens (5.1%), L&T (4.89%), BHEL (3.72%) and ABB (1.73%).

BSE Bankex index is trading lower by 343.72 points at 6,418.10. Losers are HDFC Bank (8.62%), PNB (8.16%), ICICI Bank (6.66%) and SBI (5.19%).

BSE Metal index dropped by 223.50 points at 12,143.22 as SAIL (5.33%), Hindalco Industries (4.21%), Tata Steel (2.86%) and NALCO (2.51%) are trading in red.

BSE Oil & Gas index was trading 205.25 points lower at 9,447.65 as BPCL (5.92%), ONGC (3.52%), RPL (2.21%) and Gail India (2.14%) are trading in negative.

BSE Realty index slipped by 175.85 points to 4,903.27. The major losers are India Bull Real (9.91%), Unitech (6.53%), DLF (5.52%) and Sobha Developers (3.90%).

BSE Auto index decreased by 98.10 points to 3,625.70. The top losers are Maruti Suzuki (6.98%), Mahindra & Mahindra (6.27%), Tata Motors (5.84%) and Hero Honda (2.67%).

BSE Power index decreased by 69.07 points to 2,510.74. Losers are Power Grid (4.53%), NTPC (3.38%), Tata Power (1.14%) and Suzlon Energy (0.87%).

BSE IT index declined by 51.84 points to trade at 3,554.97 as Satyam Computer (1.74%), Infosys Technologies (1.37%) and TCS (1.36%) trading in negative.

Pre Session Market - July 29 , 2008

The Indian Market is expected to have negative opening due to weak global cues as US markets closed in deep red and Asian markets are trading lower. RBI’s quarterly review today also adds to the investors’ negative sentiment. Monday, the Indian market closed with gains after showing volatility during the trading session. The domestic market opened flat but soon turned volatile led by discomfort due to the serial blasts in Bangalore and Ahmedabad. Further it was not able to gain the momentum and was skipping up and down. At the end, market managed to close in green due to some buying in key indices. The BSE Sensex ended below 14,400 mark and NSE Nifty closed below 4,400 level. BSE Small Cap index gained around 2%. From the sectoral front, the Capital Goods, Oil & Gas, Reality, Consumer Durables and Pharma stocks were in favor as most of the buying was seen from these baskets. While the Metal, Power, IT and Auto stocks remained sufferer of negative sentiment. The BSE Sensex closed higher by 74.17 points at 14,349.11 and NSE Nifty ended up by 20.25 points at 4,332.10. We expect that market may trade lower during the trading session.

The Reserve Bank of India will release its quarterly review today and may take some measures to curb higher inflation. It has released its Macro Economic review, as it always does a day before the credit policy. According to this review broad money growth YoY was at 20.5 % as on 4th July 2008 as against 21.8% a year ago. The bank deposits YoY grew by 20.7 % as against 23.1 %. Along with this GDP growth according to the revised estimate of CSO (Central Statistical Organization) is 9 % for the year ended 2007-08 in comparison to 9.6 % in 2006-07. The review also pointed out that India''s budget deficit may come under pressure in 2008-09 as the government’ spending is increasing. According to this report inflation is global phenomenon and is high in major economies due to the impact of high food and fuel prices and strong demand conditions.

On Monday, the US market was closed in deep red due to shut down of two more banks by regulators. Federal regulators announced that First Heritage Bank of Newport Beach, California and First National Bank of Nevada, based in Reno would close, because both were undercapitalized. Crude oil also bounced back to put pressure after three straight weeks of decline. Crude for September delivery raised $1.47 to settle at $124.73 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed lower by 239.61 points at 11,131.08 along with NASDAQ ended down by 46.31 points at 2,264.22 and S&P 500 index closed lower by 23.39 points at 1,234.37.

Indian ADRs ended down. In technology sector, Satyam ended lower by (2.70%) along with Wipro by (2.19%), Infosys by (1.31%) and Patni Computers dropped by (1.10%). In banking sector, ICICI bank and HDFC bank lost (8.45%) and (3.12%) respectively. In telecommunication sector, Tata Communication and MTNL ended down by (9.34%) and (2.48%). However, Sterlite industries increased by (1.85%).

Today the major stock markets in Asia are trading lower US market losses overnight on fresh worries over fallout from the credit crisis. Hang Seng index is trading down by 582.88 points at 22,104.33 along with Japan’s Nikkei trading lower by 287.34 points at 13,066.44. Taiwan Weighted is trading at 6,961.83 down by 271.79 points.

The FIIs on Monday stood as net seller in equity and debt. The gross equity purchased was Rs2,954.60 Crore and the gross debt purchased was Rs207.00 Crore while the gross equity sold stood at Rs3,501.00 Crore and gross debt sold stood at Rs324.40 Crore. Therefore, the net investment of equity reported was (Rs546.30) Crore and net debt was (Rs117.40) Crore.

Today, Nifty has support at 4,153 and resistance at 4,400 and BSE Sensex has support at 13,809 and resistance at 14,626.

Post Session Market

The domestic market managed to conclude the day with marginal gains after showing a lot of volatility during the trading session ahead of the RBI''s quarterly review, which is scheduled tomorrow (29-July 2008).The Indian market opened flat and soon turned volatile on sense of uneasiness due to the serial blasts in Bangalore and Ahmedabad. Further it was not able to maintain stability and showed sea saw movement tracking negative cues from the European markets and mixed cues from the Asian Markets. Further, due to some buying from the key indices led the market to close in green. The BSE Sensex ended below 14,400 and NSE Nifty closed below 4,400. BSE Small Cap gained around 2%. From the sectoral front, the Capital Goods, Oil & Gas, Reality, Consumer Durables and Pharma were able go gain favor from market as most of the buying was seen from these baskets. While the Metal, Power, IT and Auto stocks remained out of favor. The market breadth was positive as 1767 stocks closed in green while 848 stocks closed in red and 77 stocks remained unchanged.

The BSE Sensex closed higher by 74.17 points at 14,349.11 and NSE Nifty ended up by 20.25 points at 4,332.10. The BSE Mid Caps and Small Cap closed with gains of 58.19 points and 134.20 points to 5,630.78 and 6,912.98 respectively. The BSE Sensex touched intraday high of 14,421.61 and intraday low of 14,219.38.

Gainers from the BSE are L&T Ltd (3.73), Tata Power (3.56%), ACC Ltd (3.34%), ONGC (3.00%), Ranbaxy Lab (2.60%), Reliance Com Ltd (1.82%), DLF Ltd (1.77%), Reliance (1.48%) and TCS Ltd (1.01%).

The BSE Capital Goods index advanced 168.54 points to close at 11,906.81. Major gainers are Reliance Industrial Infra (5.00%), Walchand In (4.99%), Jyoti Struct (3.95%), L&T Ltd (3.73), Thermax Ltd (2.87%) and Praj Industries Ltd (2.28%).

The Oil & Gas index ended up by 148.48 points at 9,652.90. As ONGC (3.00%), Cairn India (2.23%), BPCL (1.86%), Cairn India (1.84%), Reliance Petroleum (1.72%) and Relaince (1.48%) closed in positive territory.

The BSE Reality index closed higher by 50.06 points at 5,079.12. Major gainers are Pheonix Mill (9.89%), Anant Raj Industries (7.52%), Orbit Co (4.99%), Penland Ltd (4.59%), MAhindra Life (2.42%), and Indian DLF Ltd (1.77%).

The BSE Consumer Durables index gained 36.93 points to close at 3,660.72. Major gainers are Blue star L (3.50%) along with Videocon India (1.80%) and Rajesh Exports (1.02%).

The BSE Pharma index ended up by 16.53 points at 3,202.67. As Ster Biotech (5.34%), Wockhardt Ltd (4.92%), Ranbaxy Lab (2.60%), Biocom Ltd (2.31%), Glaxo Smith (2.20%), Bil Care Ltd (1.92%) and Apollo Hos E (1.52%) closed in positive territory.

The Metal index closed down by 125.38 points at 12,366.72. Lossers are Sterlite In(3.47), Nalco (3.06%), Gujarat Nre C (3.05%), Tata Steel (2.26%), Hindalco (2.21%), and Steel Authority (1.40%).

Mid Session Market - July 28, 2008

The market has made a smart recovery from the day’s low and is trading with significant gains as buying is seen in the selective scrips mainly led by the Capital Goods, Realty, Power and Consumer Durables stocks. The BSE Sensex is hovering near the 14400 mark and the NSE Nifty is trading above the 4300 mark. The BSE Mid Cap and BSE Small Cap are also trading higher and has outperformed the benchmark index.

The overall market breadth is positive as 1598 stocks are advancing while 699 stocks are declining and the 68 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 64.32 points at 5,636.92 and the BSE small Cap is up by 131.67 points to trade at 6,910.45.

At 12.30 pm, BSE Sensex was at 14,386.71 up by 111.77 points and the NSE Nifty was at 4,345.50 up by 33.64 points.

BSE Capital goods index surged by 220.75 points to 11,959.02. The main gainers are L&T (3.86%), Praj Industries (3.47%), BEML (3.33%) and BHEL (2.76%).

BSE Realty index advanced by 66.98 points to 5,096.04. The major gainers are DLF (3.34%), Unitech (2.48%), Sobha Developers (2.31%) and Parsavnath (1.82%).

BSE Auto index increased by 12.32 points to 3,78.31. The top gainers are Hero Honda (1.35%), Bajaj Auto (0.89%), Tata Motors (0.95%) and Mahindra & Mahindra (0.39%).

BSE Oil & Gas index was trading 0.95 points marginally higher at 9,505.37 as Cairn India (2.43%), ONGC (2.26%), RPL (1.66%) and Essar Oil (1.21%) are trading in positive.

BSE Bankex index is trading lower by 22.35 points at 6,729.51. Losers are Bank of Baroda (1.19%), Kotak Bank (0.99%), PNB (0.33%) and AXIX Bank (0.08%).

BSE Power index increased by 24.62 points to 2,611.81.

Gainers are GVK Power (4.28%), Tata Power (3.89%), Suzlon Energy (2.72%), Reliance Power (1.84%).

BSE Metal index dropped by 34.11 points at 12,457.99 as Sterlite Industries (3.09%), Nalco (1.59%), Sail (0.79%) and Tata Steel (0.72%) are trading in red.

BSE IT index declined by 8.12 points to trade at 3,603.12 as Infosys Technologies (0.98%), Wipro (0.56%) and Satyam Computer (0.44%) trading in negative.

Pre Session Market - July 28, 2008

The Indian Market is expected to have negative opening due to negative bias among the investors. Though the global cues are little supportive as US markets closed with gains and Asian markets are trading mixed along with further drop in crude oil prices. On Friday, the Indian market closed in deep red mainly due to heavy selling over the counters. The domestic market opened sharply lower tracking negative cues from the global markets. Further, it lost more ground after reports of serial bomb blasts that hit the IT city Bangalore and continued to trade on back foot till the end of session. The BSE Sensex slipped below 14,300 and NSE Nifty closed below 4,400. From the sectoral front, heavy selling pressure was seen in the Oil & Gas, Bank, Capital Goods, Reality, Metal and Power stocks. While, FMCG and Pharma stocks were in limelight as most of the buying was witnessed from these baskets. The BSE Sensex closed lower by 502.07 points at 14,274.94 and NSE Nifty ended down by 121.70 points at 4,311.85.

We expect that market may trade lower with negative bias during the trading session ahead of RBIs review and on sense of uneasiness due to the serial blasts in Bangalore and Ahmedabad.

On Friday, the US market was closed with gains on better than expected economic reports and further drop in crude oil to $123 a barrel on the New York Mercantile Exchange. The NASDAQ closed higher by 30.40 points at 2,310.53 along with Dow Jones Industrial Average (DJIA) ended up by 21.41 points at 11,370.69 and S&P 500 index closed higher by 5.22 points at 1,257.76. "

Indian ADRs ended mixed. In technology sector, Satyam ended higher by (1.39%) along with Wipro by (1.30%) and Infosys by (1.16%) while Patni Computers dropped by (0.46%). In banking sector, ICICI bank and HDFC bank lost (2.52%) and (1.61%) respectively. In telecommunication sector, MTNL and Tata Communication ended up by (6.94%) and (0.13%). Sterlite industries decreased by (5.80%).

Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading higher by 71.07 points at 13,405.83 along with Hang Seng index trading up by 9.73 points at 22,750.44. However, Singapore''s Straits Times is down 9.73 points at 2,913.18.

The FIIs on Friday stood as net buyer in equity and debt. The gross equity purchased was Rs3,927.10 Crore and the gross debt purchased was Rs90.50 Crore while the gross equity sold stood at Rs3,370.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs556.30 Crore and net debt was Rs90.50 Crore.

Today, Nifty has support at 4,182 and resistance at 4,378 and BSE Sensex has support at 13,825 and resistance at 14,555.

Serial Blasts Rock Bangalore

A woman was killed and at least six people were injured in a series of six low-intensity blasts carried out in eastern parts of the information technology capital this afternoon.

The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.

Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.

There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.

Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.

He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.

Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.

Bomb disposal squads and forensic experts have rushed to the spot for investigations.

Chronology of some recent major bomb blasts in the country:

May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.

January 2008: Terrorist attack on CRPF camp in Rampur kills eight.

October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.

August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.

May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.

February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.

September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.

July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.

March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.

October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.

Post Session Market - July 25, 2008

The domestic market concluded the day in red as investors eyed on inflation data, which is scheduled today and it is expected that to cross 12% for the week ended 12th July 2008. The Indian market opened significantly higher on the back of positive cues from the global markets and drop in crude oil prices that fell by 3.1% to $124.48 per barrel, which is lowest level in more than six weeks. Further it was not able to sustain the momentum and slipped to negative territory ahead of the announcement of the inflation figures. After a firm start, the market changed its gears to trade downward to close with losses. The BSE Sensex touched the 15,000 mark during early trading but ended below 14,800 and NSE Nifty closed below 4,500. From the sectoral front, the Oil & Gas index index was in limelight as was able go gain favor from market. While the Metal, Capital Goods, bank and IT stocks remained out of favor as witnesses most of the selling from these baskets. The market breadth was negative as 1258 stocks closed in green while 1458 stocks closed in red and 67 stocks remained unchanged.

The BSE Sensex closed lower by 165.27 points at 14,777.01 and NSE Nifty ended down by 49.20 points at 4,433.55. The BSE Mid Caps and Small Cap closed with losses of 35.04 points and 16.53 points to 5,580.90 and 6,796.11 respectively. The BSE Sensex touched intraday high of 15,130.09 and intraday low of 14,608.05.

Losers from the BSE are TCS Ltd (6.49%), Tata Steel (5.40%), ACC Ltd (5.13%), Reliance Com Ltd (4.52%), SBI (4.24%), BHEL (2.71%), NTPC Ltd (2.55%), Infosys Tech (2.38%), Satyam Comp (2.21%) and Bharti Airtel (2.21%).

The Metal index closed down by 374.27 points at 12,696.25. Lossers are Sh Precoated (6.61), Jindal steel (6.11%), Hindustan Zinc (3.71%), Sesa Goa Ltd (3.31%), Steel Authority (2.71%), and Gujarat Nre C (2.71%).

The BSE Capital Goods index lost 220.61 points to close at 12,119.16. Major lossers are Aiaengineer (4.45%), Jyoti Struct (4.11%), Praj Indus (3.24%), BHEL (2.71%), Alstom Proje (2.66%) and Havells India (2.21%).

The BSE Bank index closed lower by 128.02 points at 7,163.48. Major lossers are PNB (5.14%), Bank of Baroda (4.27%), SBI (4.24%), Bank of India (4.08%), OBC (3.72%), Union Bank (3.58%), and Indian Overseas Bank (3.22%).

The BSE IT index ended down by 103.47 points at 3,630.04. As DLF Ltd (8.44%), TCS Ltd (6.49%), Tech Mahindra (6.23%), Financ Techn (4.36%), NIIT Ltd (2.71%), Infosys Tech (2.38%) and HCL Tech (2.35%) closed in negative territory.

The BSE Consumer Durables index lost 87.35 points to close at 3,6,49.90. Major lossers are Lloyd Ele En (3.08%), Titan India (3.06%), Blue Star Ltd (2.56%), Videocon Industries (2.34%), Gitanjali Ge (1.44%) and Rajesh Exports (0.80%).

The Oil & Gas index ended up by 148.81 points at 10,013.40. As Reliance Natural Resources (9.47%), ONGC (3.25%), BPCL (2.25%), Cairn India (1.84%), Reliance (1.81%) and IOC (0.90%) closed in positive territory.

Mid Session Market - July 25, 2008

The market has lost further ground and is trading in deep red as strong selling continued across the board mainly led by the Bank, Oil & Gas, Realty, Auto and Capital Goods stocks. The BSE Sensex is hovering above the 14300 mark and the NSE Nifty is trading below the 4400 mark. The BSE Mid Cap and BSE Small Cap are also trading lower.

The overall market breadth is negative as 864 stocks are advancing while 1459 stocks are declining and the 78 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 40.40 points at 5,540.50 and the BSE small Cap is down by 38.52 points to trade at 6,757.59.

At 12.30 pm, BSE Sensex was at 14,317.27 down by 459.74 points and the NSE Nifty was at 4,333.85 down by 99.70 points.

BSE Oil & Gas index was trading 416.18 points lower at 9,597.22 as RPL (3.26%), ONGC (2.69%), Gail India (2.04%) are trading in negative.

BSE Auto index decreased by 46.45 points to 3,724.71. The top losers are Tata Motors (2.66%), Maruti Suzuki (2.15%), Hero Honda (1.12%) and Ashok Leyland (1.54%).

BSE Realty index slipped by 194.36 points to 5,035.79. The major losers are India Bull Real (9.80%), HDIL (4.59%), Purvankara (3.85%) and DLF (3.47%).

BSE Bankex index is trading lower by 418.29 points at 6,745.19. Losers are ICICI Bank (8.97%), HDFC Bank (7.18%), SBI (2.50%) and PNB (1.45%).

BSE Power index decreased by 37.42 points to 2,617.03. Losers are Reliance Power (3.69%), Suzlon Energy (2.04%), Torent Power (1.62%) and Tata Power (1.25%).

BSE Capital goods index slipped by 215.92 points to 11,903.24. The main losers are Punj Lloyd (3.42%), L&T (2.59%), Bharat Electrical (1.28%) and ABB (1.25%).

BSE Metal index dropped by 83.20 points at 12,613.05 as Sterlite Industries (5.25%), Tata Steel (1.63%), Jindal Saw (1.66%) and Sesa Goa (1.47%) are trading in red.

BSE IT index declined by 1.09 points to trade at 3,628.95 as TCS (1.15%), HCL Technologise (1.62%), I-Flex (1.10%) and Patni Computer (1.89%) trading in negative.

Pre Session Market - July 25, 2008

The Indian Market is expected to have negative opening due to the weak global cues as US market ended with huge losses and Asian markets are trading on back foot. Increase in crude oil price will also add to the negative sentiment . On Thursday, the Indian market closed with losses. The domestic market opened on positive note tracking positive global cues, but was not able to sustain the momentum and slipped to negative territory. Further continuous selling led the market to close on down beat note due to the inflation worries. The BSE Sensex touched the 15,000 mark during early trading but ended below 14,800 and NSE Nifty closed below 4,500. From the sectoral front, the Oil & Gas index index was in limelight as was able go gain favor from market. While the Metal, Capital Goods, bank and IT stocks remained out of favor as witnesses most of the selling from these baskets. The BSE Sensex closed lower by 165.27 points at 14,777.01 and NSE Nifty ended down by 49.20 points at 4,433.55. We expect that market decline further during the trading session.

Inflation for the week ended 12th July 2008, eased marginally by 0.02% and stood at 11.89 % in comparison to 11.91% of previous week. The wholesale price index-based inflation declined marginally mainly on account of lower prices of imported edible oils, cotton seed oil, groundnut oil and spices.

On Thursday, the US market closed with losses due to the rise in crude oil prices and weak home sales data that hit a 10-year low. Light, sweet crude for September delivery raised $1.05 to close at $125.49 a barrel on the New York Mercantile Exchange. The sales of existing homes dropped by 2.60% in June, in comparison to the previous month, to an annualized rate of 4.86 million, according to the National Association of Realtors.

The Dow Jones Industrial Average (DJIA) closed lower by 283.10 points at 11,349.28 along with NASDAQ ended down by 45.77 points at 2,280.11 and S&P 500 index closed lower by 29.65 points at 1,252.54.

Indian ADRs ended down. In technology sector, Satyam ended lower by (5.79%) along with Infosys by (5.40%), Wipro by (5.01%) and Patni Computers down by (2.49%). In banking sector, ICICI bank and HDFC bank lost (10.59%) and (8.27%) respectively. In telecommunication sector, Tata Communication ended down by (6.57%) while MTNL ended higher by (2.51%). Sterlite industries decreased by (8.97%).

Today the major stock markets in Asia are trading weak for the first time in five days on the concern of increase in credit market losses and Wall Street losses over night. Hang Seng index is trading lower by 361.42 points at 22,726.30 along with Japan’s Nikkei trading down by 209.50 points at 13,393.81 and Taiwan Weighted trading at 7,222.01 dropped by 146.07 points.

The FIIs on Thursday stood as net buyer in equity and net seller in debt. The gross equity purchased was Rs6,017.90 Crore and the gross debt purchased was Rs253.83 Crore while the gross equity sold stood at Rs4,382.30 Crore and gross debt sold stood at Rs306.00 Crore. Therefore, the net investment of equity reported was Rs1,635.00 Crore and net debt was (Rs52.20) Crore.

Today, Nifty has support at 4,288 and resistance at 4,496 and BSE Sensex has support at 14,289 and resistance at 15,046.

Post Session Market - July 24, 2008

The domestic market celebrated the UPA’s victory over the crucial vote of confidence in parliament on Tuesday and ended the day with handsome gains. Market was hovering in sea of green for through out the trading session. Indian market opened with a bang tracking a spectacular win by the UPA government over the nuclear deal and kept on marching forward through out the trading session. The favoring cues from the global markets and decline in crude oil prices by more than $3 a barrel to $127.95 per barrel on the New York Mercantile Exchange gave a support to the market sentiments. This led to the market to gather the momentum to continue its northward journey and close at day’s high after D-day outcome. Both NSE Nifty and BSE Sensex closed with gains of more than 5%. The BSE Sensex ended above 14,900 level and NSE Nifty closed above 4,400 mark. The sharp rise was due to the heavy buying activities over the counters across all indices that ended in green. Out of which, Bank index rallied to close with a gain of around 10%. Also, the Capital Goods, Metal, Reality, Power and Oil & Gas stocks also witnessed heavy buying from these baskets. The market breadth was extremely strong as 2270 stocks closed in green while 436 stocks closed in red and 53 stocks remained unchanged.

UPA government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States. The government won 275 votes against 256 for the opposition. Government is now hoped to concentrate on addressing some pressing issues, like hold back the inflation and give a push to manufacturing growth.

The BSE Sensex closed higher by 838.08 points at 14,942.28 and NSE Nifty ended up by 236.70 points at 4,476.80. The BSE Mid Caps closed with gains of 269.91 points at 5,615.94 and Small Cap ended up by 17.91 points 276.22. The BSE Sensex touched intraday high of 14,979.90 and intraday low of 14,568.22.

Gainers from the BSE are Reliance Com Ltd (12.20%), ICICI Bank Ltd (11.64%), BHEL (10.92%), HDFC (10.92%), SBI (10.45%), Reliance Infra (10.36%), HDFC Bank Ltd (9.57%), DLF Ltd (9.12%), JP Associates (8.37%) and L&T Ltd (7.58%).

Among the Sensex 30 pack 28 stocks closes in green and only two closed in red. Lossers from the BSE are Cipla Ltd (2.21%) followed by HUL (0.65%).

The BSE Capital Goods index gained 933.47 points to close at 12,339.77. Major gainers are Punj Lloyd (12.46%), Seimens Ltd (11.48%), BHEL (10.92%), Suzlon Energy (10.37%), Crompton Greaves (9.85%) and L&T Ltd (7.58%).

The Metal index closed up by 838.07 points at 13,070.52. Gainers are Sesa Goa Ltd (14.79%), Sh Precoated (14.38%), Jindal Steel (12.95%), Tata Steel (9.51%), Ispat Industries (8.63%), and Jindal Sawl (7.87%).

The BSE Bank index closed higher by 662.52 points at 7,291.50. Major gainers are Yes Bank (16.76%), Karnataka Bank (14.68%), Kotak Bank (13.46%), Federal Bank (12.55%), ICICI Bank Ltd (11.64%), SBI (10.45%), Canara Bank (10.22%), and Indian Overseas Bank (9.60%).

The Oil & Gas index ended up by 482.28 points at 9,864.59. As Reliance Natural Resources (22.71%), Essar Oil Ltd (7.66%), Reliance Petroleum (6.91%), Aban Offshore (6.82%), BPCL (6.75%) and IOC (5.77%) closed in positive territory.

The BSE Reality index ended higher by 388.78 points at 5,199.27. As Pheonix Mill (18.76%), Housing Development (10.63%), Mahindra Life (10.11%), Sobha Dev (9.45%), PDLF Ltd (9.12%), Unitech Ltd (7.77%), and Parsvnath (7.50%) closed in positive territory.

The BSE Consumer Durables index gained 218.41 points to close at 3,737.45. Major gainers are Rajesh Exports (12.06%), Videocon Industries (9.17%), Ranbaxy Lab (4.74%), Titan India (7.66%), Blue Star Ltd (2.94%) and Lloyd Ele En (1.51%).

The BSE Power index gained 194.43 points to close at 2,707.11. Major gainers are Reliance Power (19.75%), GVK Power Inf (12.67%), Siemens Ltd (11.48%), BHEL (10.92%), Suzlon Energy (10.37%), Reliance Infra (10.36%) and Crompton Greaves (9.85%).

Mid Session Market - July 24, 2008

The market after giving up all its opening gains has slipped below to trade in the negative territory. The selling pressure is seen in the IT, Metal, Bank and Capital Goods stocks. However, the Oil & Gas, Realty and Auto stocks are facing significant buying support. The BSE Sensex is now trading below the 14800 mark. The BSE Mid Cap and BSE Small Cap are however trading higher.

The overall market breadth is positive as 2055 stocks are advancing while 399 stocks are declining and the 51 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 3.07 points at 5,619.01 and the BSE small Cap is up by 39.64 points to trade at 6,852.28.

At 12.30 pm, BSE Sensex was at 14,791.77 down by 150.51 points and the NSE Nifty was at 4,445.50 down by 31.30 points.

BSE Oil & Gas index was trading 239.31 points higher at 10,103.90 as BPCL (4.13%), ONGC (2.96%), Cairn India (2.25%) and Gail India (2.03%) are trading in positive.

BSE Auto index increased by 53.91 points to 3,822.09. The top gainers are Maruti Suzuki (3.13%), Hero Honda (2.71%), Tata Motors (1.79%) and Mahindra & Mahindra (1.21%) are trading higher.

BSE Realty index advanced by 114.42 points to 5,313.69. The major gainers are Sobha Developers (4.81%), Unitech (3.28%), DLF (3.18%), and Parsavnath (3.05%).

BSE Bankex index is trading lower by 59.09 points at 7,232.41. Losers are Union Bank (3.99%), SBI (3.09%), Bank of India (2.82%), and PNB (2.55%).

BSE Power index decreased by 4.70 points to 2,702.41. Losers are GVK Power (1.98%), NTPC (1.84%), Power Grid (1.47%) and Tata Power (1.17%).

BSE Capital goods index slipped by 154.17 points to 12,185.60. The main losers are Siemens (2.59%), BHEL (2.29%), L&T (2.03%) and ABB (0.07%).

BSE Metal index dropped by 166.57 points at 12,903.95 as Tata Steel (4.96%), Jindal Steel (4.23%), SAIL (2.43%) and Gujarat NRE (1.11%) are trading in red.

BSE IT index declined by 146.36 points to trade at 3,587.15 as TCS (6.47%), Infosys Technologies (4.82%), Satyam Computer (3.47%) and Wipro (1.04%) trading in negative.

Pre Session Market - July 24, 2008

The Indian Market is expected to have positive opening on positive global cues as US markets closed in positive territory and Asian markets are trading higher along with further drop in crude oil prices. On Wednesday, the Indian market closed in with handsome gains mainly due to the UPA’s victory over the crucial vote of confidence in parliament on Tuesday. The domestic market opened with strong attitude supported by favorable global cues and drop in crude oil. Further, market gathered the momentum to continue its northward journey and conclude the day in sea of green. The BSE Sensex ended above 14,900 level and NSE Nifty closed above 4,400 mark. The sharp rise was due to the heavy buying activities across all indices that ended in green. Out of which, Bank index rallied to close with a gain of around 10%. Also, the Capital Goods, Metal, Reality, Power and Oil & Gas stocks witnessed heavy buying from these baskets. The BSE Sensex closed higher by 838.08 points at 14,942.28 and NSE Nifty ended up by 236.70 points at 4,476.80. We expect that market may gain some further ground during the trading session.

On Wednesday, the US market was closed with gains on steep drop in crude prices and better-than-expected earnings reports from several biggies that includes McDonald''s, PepsiCo, and Pfizer. Oil prices fell by 3.1% to $124.48 per barrel, which is lowest level in more than six weeks.

The Dow Jones Industrial Average (DJIA) closed higher by 29.88 points at 11,632.38 along with NASDAQ ended up by 21.92 points at 2,325.88 and S&P 500 index closed higher by 5.19 points at 1,282.19.

Indian ADRs ended high. In technology sector, Wipro ended higher by (2.80%) along with Infosys by (1.99%) and Satyam by (0.50%) while Patni Computers ended lower by (1.58%). In banking sector, ICICI bank and HDFC bank gained (8.65%) and (6.99%) respectively. In telecommunication sector, Tata Communication ended up by (7.80%) and MTNL gained by (2.14%). Sterlite industries increased by (4.05%).

Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading higher by 168.78 points at 13,481.71 along with Hang Seng index trading up by 72.58 points at 23,207.13 and Taiwan Weighted trading at 7,318.48 advanced by 8.65 points.

The FIIs on Wednesday stood as net seller in equity. The gross equity purchased was Rs2,264.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,654.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs390.50) Crore and net debt was Rs0.00Crore.

Today, Nifty has support at 4,404 and resistance at 4,591 and BSE Sensex has support at 14,678 and resistance at 15,348.

Pre Session Market - July 23, 2008

The Indian Market is expected to have positive opening as government won the confidence vote over the nuclear deal, which ensures its continuation. Also, supported by strong global cues as US markets closed with good gains and Asian markets are trading higher and a drop in crude oil prices. On Tuesday, the Indian market closed with good gains. The domestic market opened on flat note, but gathered the momentum to trade firm on hopes that the government will last its term. Further continuous buying support led the market to close on upbeat note. The BSE Sensex ended above 14,000 level and NSE Nifty closed above 4,200 mark. From the sectoral front, the FMCG and Power indices closed with a growth of more than 4%. Along with this huge buying was seen in Metal, Capital Goods, Bank and Oil & Gas stocks. However, Auto stock was only sufferer of negative sentiment. The BSE Sensex closed higher by 254.16 points at 14,104.20 and NSE Nifty ended up by 80.60 points at 4,240.10. We expect that market may see some bull run during the trading session.

UPA government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States. The government won 275 votes against 256 for the opposition. Government is now hoped to concentrate on addressing some pressing issues, like hold back the inflation and give a push to manufacturing growth.

On Tuesday, the US market was closed with gains due to the sharp drop in oil prices, which declined by more than $3 a barrel to $127.95 per barrel on the New York Mercantile Exchange. The Dow Jones Industrial Average (DJIA) closed higher by 135.16 points at 11,602.50 along with NASDAQ ended up by 24.43 points at 2,303.96 and S&P 500 index closed higher by 17 points at 1,277.00.

Indian ADRs ended high after government wins confidence. In technology sector, Wipro ended higher by (5.53%) along with Satyam by (5.22%), Infosys by (4.70%) and Patni Computers advanced by (3.44%). In banking sector, ICICI bank and HDFC bank gained (13.12%) and (9.82%) respectively. In telecommunication sector, Tata Communication ended up by (9.42%) and MTNL ended higher by (4.00%). Sterlite industries increased by (1.04%).

Today the major stock markets in Asia are trading higher on strong rebound in Wall Street overnight. Hang Seng index is trading higher by 389.38 points at 22,916.86 along with Taiwan Weighted trading up by 190.36 points at 7,256.01 and Japan’s Nikkei trading at 13,318.65 advanced by 133.69 points.

The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,939.50 Crore and the gross debt purchased was Rs44.00 Crore while the gross equity sold stood at Rs2,143.10 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs111.90) Crore and net debt was Rs44.00Crore.

Today, Nifty has support at 4,182 and resistance at 4,412 and BSE Sensex has support at 13,888 and resistance at 14,748.

Mid Session Market - July 22, 2008

The market has gained further grounds and is trading strongly as three is a feeling that the UPA government will be able to maintain its position in the vote of confidence today. The strong buying continued in the selective scrips mainly led by the Bank, Metal, Power and FMCG stocks. Howevre, the Auto stocks are reeling under pressure. The BSE Sensex has once again crossed the 14100 mark and the NSE Nifty the 4200 mark. The BSE Mid Cap and BSE Small Cap stocks are also trading with significant gains.

The overall market breadth is positive as 1741 stocks are advancing while 546 stocks are declining and the 72 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 107.18 points at 5,364.17 and the BSE small Cap is up by 114.60 points to trade at 6,552.58.

At 12.30 pm, BSE Sensex was at 14,179.84 up by 329.80 points and the NSE Nifty was at 4,254 up by 94.50 points.

BSE Metal index surged by 469.57 points at 12,235.81 as SAIL (6.32%), Tata Steel (4.90%), Sterlite Industries (3.58%), and Hindalco Industries (2.91%) are trading in green.

BSE Capital goods index improved by 321.41 points to 11,384.27. The main gainers are BHEL (5.67%), Punj Lloyd (4.36%), Bharat Electrical (4.16%) and Siemens (3.97%).

BSE Bankex index is trading higher by 236.11 points at 6,664.82. Gainers are Indian Overseas Bank (6.27%), HDFC Bank (6.01%), Bank of Baroda (4.91%), Kotak Bank (4.21%) and Axix Bank (4.90%).

BSE Health Care index up by 33.46 points to trade at 4,145.19. Leading to its gain are Ranbaxy Laboratories (4.63%), Fortis Healthcare (4.91%), Cipla (2.45%), Pfizer (2.42%) and Sun Pharma (2.72%).

BSE Realty index advanced by 62.62 points to 4,846.90. The major gainers are Mahindra Life (5.14%), Unitech (2.46%), Omaxe Ltd. (2.41%) and Purvankara (1.85%).

BSE Oil & Gas index was trading 161.31 points higher at 9,470.47 as RNRL (5.95%), Essar Oil (3.14%), Cairn India (2.52%) and HPCL (2.01%) are trading in positive.

BSE Power index increased by 89.30 points to 2,498.54. Gainers are Power Grid (4.08%), Tata Power (3.80%), Suzlon Energy (3.80%) and NTPC (2.34%).

BSE IT index inclined by 56.82 points to trade at 3,637.23 as Tech Mahindra (6.96%), Wipro (4.31%), Mphasis (2.94%) and TCS (2.90%) trading in positive.

BSE Auto index dropped by 47.70 points to 3,615.46. The top losers are Maruti Suzuki (8.39%) and Tata Motors (3.40%) while TVS Motor (2.46%) and Hero Honda (1.57%) are trading higher.

Pre Session Market - July 22, 2008

The Indian Market is expected to have negative opening on the back of unfavorable global cues as US market ended lower and Asian markets are trading mixed. On Monday, the Indian market closed with gains after going through little volatility during the trading session. The domestic market yesterday opened on firm note, tracking strong cues from the Asian markets. Further, market trimmed its initial gains as investors were taking calculative steps on political worries but later managed to gather and maintain the higher momentum to close with good gains. The BSE Sensex ended above 13,800 mark and NSE Nifty closed above 4,100 level. From the sectoral front, the Bank and Pharma indices closed with a gain of more than 3%. Along with this Reality, Metal and Oil & Gas stocks also witnessed buying interest. However, Capital Goods and Consumer Durables stocks were major sufferers of negative sentiment. The BSE Sensex closed higher by 214.64 points at 13,850.04 and NSE Nifty ended up by 67.25 points at 4,159.50.

We expect that market may remain volatile during the trading session and crucial trust vote will set direction for the market. There will be vote of confidence in parliament today, which will decide UPA’s continuation as a government.

On Monday, the US market was closed in red as oil turned higher after a sharp drop last week by more than $2 to above $US131 a barrel. An announcement by Bank of America also added to negative sentiment about its second-quarter profit of $3.4 billion to $1 billion, down 41% from previous year.

The NASDAQ ended lower by 29.23 points at 11,467.34, followed by the Dow Jones Industrial Average (DJIA) closed lower by 3.25 points at 2,279.53 along with S&P 500 ended down by 0.68 points at 1,260.00.

Indian ADRs ended down. In technology sector, Satyam ended down by (5.22%) along with Wipro closed down by (3.05%), Infosys by (2.45%) and Patni Computers dropped by (2.13%). In banking sector, HDFC bank gained by (1.66%) while ICICI bank lost (0.13%). In telecommunication sector, Tata Communication ended up by (0.10%) and MTNL ended down by (0.44%). Sterlite industries increased by (3.59%).

Today the major stock markets in Asia are trading mixed Japan’s Nikkei is trading higher by 165.31 points at 12,969.01 while Hang Seng index trading down by 24.36 points at 22,508.54 and Taiwan Weighted trading at 7,071.49 dropped by 14.18 points.

The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs2,988.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,399.20 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs589.20 Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,081 and resistance at 4,221 and BSE Sensex has support at 13,576 and resistance at 14,106.

Post Session Market - July 21, 2008

The domestic market ended the day in positive territory after showing a little volatility during trading session. Investors were taking calculative steps during the session due to political worries, as there will be vote of confidence in parliament tomorrow, which will decide UPA’s continuation as a government. Indian market opened higher on the back of positive cues from the Asian markets but pared some of its gains soon after the firm start and later gathered the momentum to close with good gains due to selective buying in key stocks gathered the momentum during final trading hours, which led the market to close in green. The BSE Sensex ended above 13,800 level and NSE Nifty closed above 4,100 mark. From the sectoral front, the Bank and Pharma indices closed with a gain of more than 3% after. Along with this Reality, Metal and Oil & Gas stocks also witnessed buying in these baskets. However, Capital Goods and Consumer Durables stocks were major sufferers of negative sentiment. The market breadth was negative as 1169 stocks closed in green while 1362 stocks closed in red and 85 stocks remained unchanged.

The BSE Sensex closed higher by 214.64 points at 13,850.04 and NSE Nifty ended up by 67.25 points at 4,159.50. The BSE Mid Caps closed with gains of 17.60 points at 5,256.99 while Small Cap ended with loss of 17.91 points 6,437.98. The BSE Sensex touched intraday high of 13,878.88 and intraday low of 13,581.19.

Gainers from the BSE are Cipla Ltd (5.20%), Ranbaxy Lab (4.74%), NTPC Ltd (4.70%), DLF Ltd (8.44%), ICICI Bank Ltd (4.29%), Maruti Suzuki (3.92%), HUL (3.76%), JP Associates (3.74%), SBI (3.67%) and Reliance Com Ltd (2.62%).

Lossers from the BSE are Satyam Computer (4.14%), Ambuja cement (2.17%), BHEL (1.56%), L&T Ltd (1.26%) and Bharti Airtel (0.44%).

The BSE Banking index closed higher by 239.82 points at 6,428.71. Major gainers are Bank of Baroda (6.95%), Union Bank (6.16%), Bank of India (6.11%), Indian Overseas Bank (5.95%), HDFC Bank Ltd (4.78%), Punjab Natioanl Bank (4.57%), and ICICI Bank Ltd (4.29%).

The BSE Pharma index gained 120.88 points to close at 4,111.73. Major gainers are Sun Pharma (5.30%), Cipla Ltd (5.20%), Ranbaxy Lab (4.74%), Glenmark Pharma (3.88%), Dishman Pharma (3.79%) and Orchid Chem (3.14%).

The BSE Reality index ended up by 114.04 points at 4,784.28. As Housing Development (7.80%), Indiabull Real (5.24%), Anant Raj (4.78%), Unitech Ltd (2.28%), Purvankara (1.49%), DLF Ltd (1.39%), and Ansal Infra (1.23%) closed in positive territory.

The Metal index closed up by 97.85 points at 11,766.24. Gainers are Nalco (8.27%), Steel Authority (2.36%), Sterlite In (1.31%), Tata Steel (0.99%), Jindal Stain (0.70%), and Jindal Steel (0.50%).

The Oil & Gas index ended up by 77.12 points at 9,309.16. As Reliance (1.92%), ONGC (1.34%) and Reliance Petroleum (0.39%) closed in positive territory.

The BSE Capital Goods index lost 83.65 points to close at 11,062.86. Major lossers are Kirloskar br (7.69%), Bharat Elect (2.53%), Alstom proje (2.41%), Crompton Greaves (1.86%), Jyoti Struct (1.79%) and BHEL (1.56%).

Mid Session Market - July 21, 2008

The market has maintained its opening gains are is trading strongly. The strong buying support is seen in the Bank, Pharma, FMCG and Auto stocks. However, the Capital Goods, Consumer Durables stocks are still lagging behind. The BSE Sensex is trading above the 13700 mark and the NSE Nifty above the 4100 mark. The BSE Mid Cap and BSE Small Cap stocks are however trading flat.

The overall market breadth is negative 1019 stocks are advancing while 1227 stocks are declining and the 76 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 2.56 points at 5,241.95 while the BSE small Cap is down by 22.52 points to trade at 6,433.37.

At 12.30 pm, BSE Sensex was at 13,786.26 up by 150.86 points and the NSE Nifty was at 4,120.95 up by 28.70 points.

BSE Bankex index is trading higher by 191.53 points at 6,380.42. Gainers are PNB (4.57%), Bank of Baroda (4.28%), Bank of India (3.74%), SBI (3.25%) and Kotak Bank (1.66%).

BSE Health Care index up by 111.40 points to trade at 4,102.25. Leading to its gain are Sun Pharma (6.20%), Dr. Reddy (4.42%), Glenmark Pharma (3.17%), Orchid Chemicals (3.14%) and Cipla (3.32%).

BSE Realty index advanced by 22.09 points to 4,692.33. The major gainers are India Bull Real (4.77%), Anant Raj Industries (4.48%) and HDIL (2.48%).

BSE Auto index improved by 31.41 points to 3,632.34. The top gainers are Hero Honda (2.04%), Mahindra & Mahindra (1.86%), Tata Motors (0.71%) and Maruti Suzuki (0.34%).

BSE Oil & Gas index was trading 14.11 points higher at 9,246.15 as ONGC (0.68%), Reliance (0.49%), Indian Oil (0.43%) and ABN Offshore (0.46%) are trading in positive.

BSE Power index increased by 18.17 points to 2,399.98. Gainers are Tata Power (2.52%), Power Grid (2.07%), GVK Power (2%) and NTPC (1.59%).

BSE IT index inclined by 14.76 points to trade at 3,595.41 as Tech Mahindra (1.45%), Wipro (1.76%), TCS (0.51%) and Infosys Technologies (0.90%) trading in positive.

BSE Metal index advanced by 107.34 points at 11,775.73 as Tata Steel (1.77%), Jindal Stainless (1.61%), JSW Steel (1.59%), SAIL (1.26%) are trading in green.

BSE Capital goods index dropped by 64.26 points to 11,082.25. The main losers are L&T (2.60%), BHEL (1.19%), BEML (1.15%) and Punj Lloyd (0.93%).

Pre Session Market - July 21, 2008

The Indian Market is expected to have positive opening on the back of strong global cues as Asian markets are trading higher and fall in crude oil prices. On Friday, the Indian market closed in with handsome gains. The domestic market opened in positive territory, but was not able to sustain the same momentum and was trading flat till afternoon. Further soon it bounced back and continued to gain ground till the end of session on significant buying over the counters. The BSE Sensex ended above 13,600 level with gain of more than 3.5% and NSE Nifty closed above 4,090 with increase of more than 3.67%. From the sectoral front, the Bank index surged to close with gains of more than 8%. The Capital Goods, Oil and Gas and Realty index also followed the rally to post good buying. However, the IT and Metal index remained out of favor. The BSE Sensex closed higher by 523.55 points at 13,635.40 and NSE Nifty ended up by 145.05 points at 4,092.25. We expect that the market may extend its gains during the trading session.

On Friday, the US market was closed mixed spending entire session in red. Technology companies'' earnings were disappointing for markets whereas financial companies reported better than expected results as credit fears eased following lower than expected quarterly loss reported by the top U.S. bank Citigroup.

The Dow Jones Industrial Average (DJIA) closed higher by 49.91 points at 11,496.57 along with S&P 500 index ended up by 0.36 points at 1,260.68 while NASDAQ closed lower by 29.52 points at 2,282.78. Indian ADRs ended mixed. In technology sector, Patni Computers ended lower by (6.60%) along with Satyam by (6.05%), Infosys by (3.32%) and Wipro dropped by (2.70%). In banking sector, ICICI bank and HDFC bank gained (3.38%) and (1.92%) respectively. In telecommunication sector, Tata Communication ended up by (2.06%) while MTNL ended down by (2.16%). Sterlite industries decreased by (0.57%).

Today the major stock markets in Asia are trading in green. Hang Seng index is trading higher by 635.72 points at 22,509.91 along with Taiwan Weighted trading up by 208.15 points at 7,023.47. Japanese markets are closed today on account of holiday.

The FIIs on Friday stood as net buyer in equity. The gross equity purchased was Rs2,939.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,403.70 Crore and gross debt sold stood at Rs0.00 Crore.

Therefore, the net investment of equity reported was Rs535.80 Crore and net debt was Rs0.00Crore.

Today, Nifty has support at 4,024 and resistance at 4,290 and BSE Sensex has support at 13,387 and resistance at 14,238.

Post Session Market - July 18, 2008

The domestic market continued its rally for the second consecutive day to close on an upbeat note on the back of heavy buying across the counters. The fall in global crude oil prices to $130 a barrel gave a boost to the sentiments in the domestic market.

The market opened higher but did not present a good show till the mid session as it was trading almost flat but the market changed its gear soon after that to kept on marching forward on sustained buying across the indices. The BSE Sensex ended above 13,600 level with gain of more than 3.5% and NSE Nifty closed above 4,090 with increase of more than 3.67%.

From the sectoral front, the bankex index surged to close with gains of more than 8%. The Capital Goods, Oil and Gas and Realty index also followed the rally to post good buying. However, the IT and Metal index remained out of favor. The market breadth was positive as 1616 stocks closed in green while 980 stocks closed in red and 90 stocks remained unchanged.

The BSE Sensex closed higher by 523.55 points at 13,635.40 and NSE Nifty ended up by 145.05 points at 4,092.25. The BSE Mid Caps and Small Cap closed up 84.05 points and 68.77 points 5,239.39 and 6,455.89 respectively. The BSE Sensex touched intraday high of 13,684.27 and intraday low of 13,093.34.

Gainers from the BSE are Infra Dev fin 15.54%, ICICI bank 12.05%, Indian bank 10.08%, Essar Ship 9.99%, HDFC 9.47%, Jet Airways 9.37%, Gujarat NRE 9.07%, Yes bank 8.93%.The BSE Bankex index surged 461.29 points to close at 6,188.89. Major gainers are ICICI Bank 12.05%, Yes bank 8.93%, Axis bank 8.07%, HDFC bank 7.87%, PNB 7.56%, Union bank 6.62% and IOB 5.09%. The BSE Capital Goods index advanced by 384.50 points to close at 11,146.51.

Scrips that gained are Alstom Projects 6.02%, Havell India 5.84%, Bhel 5.35%, Punj Lloyd 5.31%, L&T 4.29%, ABB 3.59% and Areva 2.31%. The Oil & Gas index closed up by 379.86 points at 9,232.04 as Gail India 5.39%, Reliance industries 4.82%, IOCL 4.79%, ONGC 4.30%, RNRL 3.52% and BPCL 3.37% closed in green.

The BSE Reality index grew by 242.22 points to close at 4,670.24. Gainers are Ansal infra 7.83%, Indiabul Real 7.62%, DLF 6.99%, HDIL 4.99%, Sobh Dev 4.82%, Unitech 4.63%.The IT index fell by 94.55 points to close at 3,580.65. Losers are Satyam Comp 7.51%, Mphasis 7.33%, HCL Tech 5.85%, Niit Tech 4.30%, Wipro 3.75%, Infosys 2.20% and I-Flex 1.25%.The Metal index dropped by 28.91 points to close at 11,668.39 as Tata Steel 2.43%, Sterlite inds 2.09%, JSW Steel 1.62%, Sesa Goa 1.38%, Hind Zinc 0.88% and Jindal Stainless 0.41%.

Mid Session Market - July 18, 2008

The market is trading firm as buying is seen in the selective scrips mainly led by the Bank, Realty, Power and Capital Goods stocks. However, the selling pressure in the IT, Metal and Consumer Durables stocks has put the market in a cautious mode. The BSE Sensex is trading above the 13200 mark and the NSE Nifty above the 3900 mark. The BSE Mid Cap and BSE Small Cap stocks are also trading higher.

The overall market breadth is positive 1283 stocks are advancing while 978 stocks are declining and the 95 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 33.48 points at 5,188.82 and the BSE small Cap is up by 32.89 points to trade at 6,420.01.

At 12.30 pm, BSE Sensex was at 13,182.34 up by 70.49 points and the NSE Nifty was at 3,952.10 up by 4.90 points.

BSE Bankex index is trading higher by 284.79 points at 6,012.39. Gainers are HDFC Bank (7.97%), ICICI Bank (6.86%), AXIX Bank (5.04%), Kotak Bank (4.06%) and PNB (2.93%).

BSE Capital goods index inclined by 74.63 points to 10,836.64. The main gainers are BHEL (3.06%), Punj Lloyd (3.03%), ABB (2.02%) and Siemens (1.56%).

BSE Realty index advanced by 139.78 points to 4,567.80. The major gainers are India Bull Real (6.30%), Sobha Developers (3.51%), HDIL (3.44%) and Unitech (2.52%).

BSE Auto index improved by 13.60 points to 3,549.39. The top gainers are TVS Motor (4.48%), Tata Motors (1.11%), Hero Honda (0.47%), and Mahindra & Mahindra (0.45%).

BSE Oil & Gas index was trading 2.75 points lower at 8,849.33 as Cairn India (1.76%), RPL (1.36%), ABN Offshore (1.11%) and RNRL (0.15%) are trading in negative.

BSE Power index increased by 35.75 points to 2,338.52. Gainers are Torent Power (2.37%), Power Grid (2.19%), NTPC (2%) and Tata Power (0.86%).

BSE Health Care index up by 1.19 points to trade at 3,977.47. Leading to its gain are Dr.Reddy (2.72%), Cipla (2.48%), IPCA Lab. (1.51%) and Cadila Healthcare (1.33%).

BSE IT index declined by 150.48 points to trade at 3,524.72 as Satyam Computer (8.59%), HCL Technologies (5.08%), Wipro (4.74%) and Infosys Technologies (3.28%) trading in negative.

BSE Metal index dropped by 209.67 points at 11,487.63 as Sterlite Industries (3.69%), Tata Steel (2.72%), Sesa Goa (2.25%), Hindalco Industries (0.86%) and JSW Steel (0.48%) are trading in red.

Pre Session Market - July 18, 2008

The Indian Market is expected to have positive opening on the back of strong global cues as US market extended its rally for the second consecutive session and Asian markets are also trading strong. On Thursday, the Indian market ended with heavy gains powered by favorable Asian markets and drop in crude prices. The domestic market opened with upbeat note, on the back of positive cues from the global markets. Further market continued to trade in positive territory and extended its strength to close with handsome gains. The BSE Sensex ended above 13,100 level with gain of more than 4% and NSE Nifty closed above 3,900 with increase of more than 3%. From the sectoral front, the Bank index closed with a gain of more than 6% after it completely crushed for the last two days. On the other hand Metal index witnessed selling pressure to close with a loss of 2%. However, sustained buying interest was seen in Capital Goods, Bank, Capital Goods, Oil & Gas and Reality stocks. The BSE Sensex closed higher by 536.05 points at 13,111.85 and NSE Nifty ended up by 130.50 points at 3,947.20. We expect that market may gain some ground during the trading session.

Due to the concern of leakage of sensitive data on price rise, the government had released the inflation figures on Thursday (July 17th) against the current practice of announcing it on Fridays. Henceforth, the wholesale price-based inflation data would be released at 5 pm on every Thursday. The wholesale price index based annual rate of inflation rose to 11.91% for the week ended 5th July 2008, marginally higher than the 11.89% of the previous week. The annual inflation rate was 4.61% during the corresponding week last year.

On Thursday, the US market closed in green as drop in energy prices boosted an already upbeat mood that followed stronger than expected quarterly reports from big names like JP Morgan Chase and United Technologies. Crude oil fell $5.31 to settle at $129.29. Stronger than expected data on the U.S. housing and job markets also added to positive sentiment. Initial jobless claims gained 18,000 to 366,000 in the week ended July 12. Housing starts rose 9.1 percent to a 1.066 million pace from a revised 977,000 rate in May.

The Dow Jones Industrial Average (DJIA) closed higher by 207.38 points at 11,446.66 along with NASDAQ up by 27.45 points at 2,312.30 and S&P 500 index closed higher by 14.96 points at 1,260.32.

Indian ADRs ended up. In technology sector, Patni Computers ended higher by (4.08%) along with Satyam by (3.58%), Infosys by (1.48%) and Wipro advanced by (1.18%). In banking sector, ICICI bank and HDFC bank gained (9.47%) and (6.95%) respectively. In telecommunication sector, Tata Communication ended up by (1.28%) while MTNL closed lower by (1.07%)). Sterlite In decreased increased by (5.15%).

Today the major stock markets in Asia are trading in green due to the 10% decline in oil prices this week and results from investment bank JPMorgan that were not as bad as expected. Hang Seng index is trading higher by 174.70 points at 21,909.42 along with Japan’s Nikkei trading up by 50.34 points at 12,938.29 and Taiwan Weighted trading at 6,998.92 advanced by 24.40 points.

The FIIs on Thursday stood as net seller in equity and in debt. The gross equity purchased was Rs2,693.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,903.50 Crore and gross debt sold stood at Rs168.10 Crore. Therefore, the net investment of equity reported was (Rs210.50) Crore and net debt was (Rs168.10) Crore.

Today, Nifty has support at 3,879 and resistance at 4,092 and BSE Sensex has support at 12,844 and resistance at 13,618.

Mid Session Market - July 17, 2008

The market has maintained its opening gains and is still trading higher as strong buying continued in the selective scrips mainly led by the Realty, Bank, Auto and Capital Goods stocks. However, the Metal stocks have given up their early morning gains and slipped below the trade in the negative territory. The BSE Mid Cap and BSE Small Cap stocks are also trading higher. Inflation will be announced today at 5 pmThe overall market breadth is positive 1447 stocks are advancing while 907 stocks are declining and the 73 stocks remained unchanged on BSE.The BSE Mid cap is higher by 57.50 points at 5,145.78 and the BSE small Cap is up by 67.64 points to trade at 6,392.09.At 12.30 pm, BSE Sensex was at 12,987.46 up by 411.66 points and the NSE Nifty was at 3,909.90 up by 93.20 points.BSE Capital goods index inclined by 281.08 points to 10,441.61. The main gainers are L&T (4.47%), BHEL (3.08%), Siemens (2.56%) and ABB (0.83%).BSE Realty index advanced by 177.40 points to 4,396.52. The major gainers are India Bull Real (6.19%), DLF (5.88%), HDIL (5.01%) and Parsavnath (5.27%).BSE Auto index improved by 115.48 points to 3,509.97. The top gainers are Maruti Suzuki (7.97%), Tata Motors (5.50%), Mahindra & Mahindra (4.92%), and TVS Motor (2.39%).BSE Oil & Gas index was trading 149.21 points higher at 8,737.60 as BPCL (4.77%), Gail India (4.60%), ONGC (2.89%) are trading in positive.BSE Power index increased by 34.77 points to 2,244.65. Gainers are Power Grid (3.55%), Reliance Power (2.26%), NTPC (0.89%) and Torent Power (0.64%).BSE Bankex index is trading higher by 220.34 points at 5,620.58. Gainers are HDFC Bank (6.02%), ICICI Bank (4.28%), SBI (3.27%) and PNB (2.61%).BSE IT index inclined by 100.18 points to trade at 3,667.16 as TCS (4.79%), Satyam Computer (3.65%), Infosys Technologies (2.53%) and Wipro (1.92%) trading in positive.BSE Metal index dropped by 255.83 points at 11,680.19 as SAIL (5.86%), Jindal Steel (4.29%), Tata Steel (3.44%), Sterlite Industries (2.90%) and Jindal Saw (1.81%) are trading in red.BSE Health Care index down by 7.80 points to trade at 3,963.61. Leading to its fall are Ranbaxy Lab,. (3.96%), Biocon (2.74%), Aventis Pharma (0.91%) and Glenmark Pharma (0.13%).

Pre Session Market - July 17, 2008

The Indian Market is expected to have positive opening on the back of strong global cues and drop in crude oil prices. On Wednesday, the Indian market extended its losses to touch a new low on concerns over inflation and political uncertainty. The domestic market opened in positive territory, on crude oil’s support and maintained the strength till afternoon. Further market lost ground tracking negative cues from European market and slipped to close on back foot. The BSE Sensex skidded below 12,600 level and NSE Nifty below 3,900. From the sectoral front, Reality index were completely crushed to close with deep cut of more than 7% as most selling was reported from this basket. Along with this, Metal, Oil & Gas, Bank, Capital Goods and Consumer Durables stocks witnessed the selling pressure. The BSE Sensex closed lower by 100.39 points at 12,575.80 and NSE Nifty ended down by 44.40 points at 3,816.70. We expect that market may go up during the trading session.TCS Ltd has announced its first quarter ended June 2008, results. Its consolidated net profit under the US GAAP fell marginally to Rs1,243.6 Crore, compared to Rs1,255.8 Crore in the previous quarter with a marginal drop of 0.98%. Revenue in the same period grew 5.2% to Rs6,410.7 Crore.On Wednesday, the US market was closed in green as oil prices continued to fall for the second day and the financial sector moved up the most in its 19-year history. Oil prices tumbled $4.14 to $134.60 per barrel, after the government reported a surprising spike in U.S. crude and gasoline supplies. The fifth-largest U.S. bank and the second largest mortgage lender Wells Fargo''s better-than-expected earnings sparked the rally that was compounded by short-covering.The Dow Jones Industrial Average (DJIA) closed higher by 276.74 points at 11,239.28 along with NASDAQ trading up by 69.14 points at 2,284.85 and S&P 500 index closed higher by 30.45 points at 1,245.36. Indian ADRs ended up. In technology sector, Satyam ended higher by (6.09%) along with Infosys by (5.78%), Wipro by (4.17%) and Patni Computers advanced by (0.18%). In banking sector, ICICI bank and HDFC bank gained (8.56%) and (6.51%) respectively. In telecommunication sector, MTNL and Tata Communication ended up by (7.60%) and (6.32%)). However, Sterlite industries decreased by (0.34%).Today the major stock markets in Asia are trading in green surge in US bank shares and a sharp drop in oil prices. Hang Seng index is trading higher by 562.15 points at 21,785.65 along with Taiwan Weighted trading up by 59.49 points at 6,927.80 and Japan’s Nikkei trading at 12,902.69 advanced by 217.16 points. The FIIs on Wednesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,370.50 Crore and the gross debt purchased was Rs46.60 Crore while the gross equity sold stood at Rs3,050.90 Crore and gross debt sold stood at Rs45.00 Crore. Therefore, the net investment of equity reported was (Rs680.40) Crore and net debt was Rs1.70 Crore.Today, Nifty has support at 3,755 and resistance at 4,013 and BSE Sensex has support at 12,330 and resistance at 13,169.

Mid Session Market - July 16,2008

The market is now off the day’s high as selling pressure witnessed in the selective scrips mainly led by the Realty, Auto, Consumer Durables and Metal stocks. However, the buying support is seen in the FMCG, Pharma, Oil & Gas and IT stocks. The BSE Mid Cap and The Bse Small Cap has under performed the bench mark index and are trading lower. The Bse Sensex is trading above the 12800 mark and the Nse Nifty is trading near the 3900 mark.

The overall market breadth is negative 922 stocks are advancing while 1370 stocks are declining and the 79 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 45.75 points at 5,117.76 and the BSE small Cap is down by 36.83 points to trade at 6,394.07.

At 12.30 pm, BSE Sensex was at 12,800.72 up by 124.53 points and the NSE Nifty was at 3,875 up by 13.10 points.

BSE Metal index dropped by 208.08 points at 12,017.56 as Gujarat NRE (4.35%), Jindal Saw (4.87%), Nalco (4.23%), JSW Steel (1.47%) and Sterlite Industries (0.16%) are trading in red.

BSE Capital goods index declined by 5.63 points to 10,170.12. The main losers are Siemens (2.02%), Praj Industries (1.74%), BEML (1.40%) and ABB (1.24%).

BSE Oil & Gas index was trading 6.72 points higher at 8,684.42 as BPCL (4.06%), ONGC (2.84%), HPCL (2.52%) and Indian Oil (1.33%) are trading in positive.

BSE Power index decreased by 18.52 points to 2,205.85. Losers are Power Grid (1.55%), Crompton Greaves (1.31%) and Reliance Power (0.88%).

BSE Bankex index is trading lower by 25.31 points at 5,482.69. Losers are Bank of India (2.40%), Kotak Bank (2.12%), Indian Overseas Bank (1.89%) and Union Bank (1.78%).

BSE IT index inclined by 12.67 points to trade at 3,602.24 as HCL Technologies (2.24%), Satyam Computer (1.58%), Infosys Technologies (0.71%) and Wipro (0.29%) trading in positive.

BSE Health Care index up by 22.12 points to trade at 3,931.37. Leading to its gain are Ranbaxy Laboratories (8.44%), Cipla (1.78%), Divi’s Lab (0.18%) and Aurobindo Pharma (0.76%).

BSE Realty index slipped by 167.47 points to 4,335.98. The major losers are Unitech (5.24%), Ansal Infra. (4.66%), DLF (4.01%) and Omaxe Ltd. (3.24%)

Pre Session Market - July 16, 2008

The Indian Market is expected to have negative opening on the back of unfavorable global cues as US market closed mixed and Asian markets are trading in red. On Tuesday, the Indian market closed with huge losses as heavy selling was evident across all sectors under the combined weight of weak global markets and domestic political uncertainties. The domestic market yesterday opened on back foot, tracking weak cues from the global market along with domestic political and inflation worries. Further, market traded completely on the negative territory without showing any sign of recovery and landed in extremely negative territory. The BSE Sensex closed at 15 months low that below 12,700 level and NSE Nifty below 3,900. From the sectoral front, Bank index were completely crushed to close with deep cut of more than 7% as most selling was reported from this basket. Followed this Capital Goods, Metal and Reality stocks also closed with cut of more than 5%. The BSE Sensex closed lower by 654.32 points at 12,676.19 and NSE Nifty ended down by 178.60 points at 3,861.10. We expect that market may lose some grounds during the trading session.

Selling pressure gathered momentum after reports of international rating agency Fitch downgrading the country''s debt outlook and currency. Negative sentiment on the market was also added by the international rating agency Standard & Poor’s (S&P) raising concerns over India’s sovereign ratings outlook, and revision by global agency, Fitch, on India’s domestic credit outlook to negative. The agency expects fiscal deficit on account of bond issuances to oil and fertiliser companies to account for least 2% of GDP this year, indicating an implicit deficit of 6.5% of GDP.

On Tuesday, the US market was closed mixed as oil dropped by almost $7 a barrel, giving investors hope that lower energy prices could help revive the flagging economy. Oil price dropped $6.44 to settle at $138.74 on the New York Mercantile Exchange.

The NASDAQ ended marginally higher by 2.84 points at 2215.71, while the Dow Jones Industrial Average (DJIA) closed lower by 92.65 points at 10,962.54 along with S&P 500 ended down by 13.39 points at 1,214.91.

Indian ADRs ended down. In technology sector, Patni Computers ended up by (3.35%) while Satyam closed down by (5.28%), Wipro by (1.59%) and Infosys dropped by (0.35%). In banking sector, ICICI bank and HDFC bank lost (7.11%) and (4.23%) respectively. In telecommunication sector, Tata Communication ended up by (1.50%) and MTNL ended down by (0.23%). Sterlite industries decreased by (4.20%).

Today the major stock markets in Asia are trading in red on worries for US financial health. Japan’s Nikkei is trading lower by 73.39 points at 12,681.17 along with Hang Seng index trading down by 69.62 points at 21,105.15 and Taiwan Weighted trading at 6,788.75 dropped by 45.49 points.

The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,020.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,232.30 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs212.30) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 3,773 and resistance at 3,928 and BSE Sensex has support at 12,358 and resistance at 12,940.

Mid Session Market - July 15, 2008

The market has lost further grounds and is trading with a deep cut as strong profit booking continued across the board. All the BSE indices are trading in red. The Bank, Power, Capital goods and Consumer Durables stocks are facing the most selling pressure. The BSE Sensex is trading below the 12900 mark and the Nse Nifty is trading near the 3900 mark.

The overall market breadth is negative 576 stocks are advancing while 1730 stocks are declining and the 60 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 109.47 points at 5,221.32 and the BSE small Cap is down by 119.92 points to trade at 6,520.14.

At 12.30 pm, BSE Sensex was at 12,883.76 down by 446.76 points and the NSE Nifty was at 3,912.40 down by 127.30 points.

BSE Metal index slipped by 333.73 points at 12,563.46 as Hindalco Industries (4.05%), SAIL (3.51%), Tata Steel (2.95%), Sterlite Industries (2.91%) and Jindal Stainless (2.64%) are trading in red.

BSE Capital goods index declined by 302.51 points to 10,437.50. The main losers are BHEL (4.56%), BEML (4.54%), Punj Lloyd (3.08%) and Praj Industries (2.93%).

BSE Oil & Gas index was trading 131.25 points lower at 8,853.82 as Gail India (3.87%), HPCL (2.96%), ONGC (2.93%) and Essar Oil (2.39%) are trading in negative.

BSE Power index decreased by 69.88 points to 2,269.40. Losers are REL Infra (3.90%),Power Grid (3.32%), NTPC (2.96%), Tata Power (2.39%) and Torent Power (1.59%).

BSE Bankex index is trading lower by 355.51 points at 5,615.01. Losers are HDFC Bank (8.81%), AXIX Bank (7.91%), ICICI Bank (7.48%), Kotak Bank (6.24%), SBI (5.61%).

BSE IT index declined by 1.96 points to trade at 3,673.63 as HCL Technologies (4.51%), Wipro (3.46%), TCS (1.18%) and Tech Mahindra (0.37%) trading in negative.

BSE Health Care index down by 93.67 points to trade at 3,986.25. Leading to its fall are Ranbaxy Laboratories (7.55%), Glenmark Pharma (3.34%), IPCA Lab. (3.23%) and Dr. Reddy (2.51%).

BSE Realty index decreased by 124.12 points to 4,638.41. The major losers are Purvankara (4.23%), Ansal Infra. (3.99%), Unitech (3.91%), Omaxe Ltd. (3.45%) and Mahindra Life (2.99%).

BSE Auto index dropped by 89.03 points 3,477.46. Leading to its fall are Mahindra & Mahindra (6.21%), Maruti Suzuki (3.15%), Tata Motors (2.31%), and Ashok Leyland (0.84%).

Pre Session Market - July 15, 2008

The Indian Market is expected to have negative opening on the back of weak global cues as US market closed with losses and Asian markets are trading in deep red. On Monday, the Indian market closed in red. The domestic market opened in negative territory, tracking weak cues from the US markets but showed some recovery in the mid session led by the European markets on the back of the US government announcement to prop up troubled mortgage financiers Fannie Mae and Freddie Mac. Market was not able to sustain the momentum and slipped further to close on back foot. From the sectoral front, metal index was remained in the limelight as most of the buying was witnessed from this basket while selling pressure led by the weakness in IT, Bank and Pharma stocks. The BSE Sensex closed lower by 139.34 points at 13,330.51 and NSE Nifty ended down by 9.30 points at 4,039.70. We expect that market may decline further during the trading session.

On Monday, the US market was closed in red as banks dragged down the market. Failure of Indy Mac Bank hits the financial sector, which is seventh bank to fail since the credit crisis began last summer, and the second-largest bank to fail in the Federal Deposit Insurance Corp.''s 75-year history. Regulators are worried that the California-based bank did not have enough cash to get by after panicked investors withdrew more than $1.3bn in 11 days and seized its assets. Crude oil prices ended up at $145.18 a barrel on the New York Mercantile Exchange also added to the negative sentiment.

The Dow Jones Industrial Average (DJIA) closed lower by 45.35 points at 11,055.19 along with NASDAQ trading down by 26.21 points at 2,212.87 and S&P 500 index closed lower by 11.19 points at 1,228.30.

Indian ADRs ended down. In technology sector, Wipro ended down by (2.90%) along with Patni Computers by (2.71%), Infosys by (2.60%) and Satyam dropped by (2.30%). In banking sector, HDFC bank and ICICI bank lost (2.70%) and (1.20%) respectively. In telecommunication sector, Tata Communication remained unchanged and MTNL ended down by (0.23%). Sterlite industries increased by (2.32%).

Today the major stock markets in Asia are trading in red. Hang Seng index is trading lower by 567.57 points at 21,446.89 along with Japan’s Nikkei trading down by 193.20 points at 12,816.96 and Taiwan Weighted trading at 6,918.18 dropped by 238.78 points.

The FIIs on Monday stood as net seller in equity. The gross equity purchased was Rs2,420.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,730.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs310.30) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 3,864 and resistance at 4,102 and BSE Sensex has support at 12,762 and resistance at 13,586.

Pre Session Market - July 14, 2008

The Indian Market is expected to have positive opening on the back of favorable global cues as Asian markets are trading in green and crude oil prices dropped in Asian trade. It dropped $1.65 to $143 a barrel. The Indian market on Friday closed in deep red on inflation data, which stood at 11.89% for the week ended June 28 as against 11.63% in earlier week and IIP number for the month of May, which declined at 3.8% as against 10.6% in same period of last year. Indian market opened on positive note due to the mixed cues from the global markets but soon it slipped with giving up its initial gains. Further after showing some volatility it lost more grounds to close in extremely negative territory. From the sectoral front, all indices closed in red and major selling witnessed among the frontline indices mainly the Capital Goods, IT, Metal, Power and Oil & Gas stocks. IT index closed with deep cut of more than 6% and Capital Goods and Power indices slipped by more than 4%. The BSE Sensex closed lower by 456.39 points at 13,469.85 and NSE Nifty ended down by 113.20 points at 4,049. We expect that market may remain voaltile during the trading session.

On Friday, the US market was closed in red on concern about the health of U.S. mortgage lenders Fannie Mae and Freddie Mac, which send bank shares to an 11-year low. U.S. These two large US mortgage financing companies slumped on Friday on fears for their financial stability. The Dow Jones Industrial Average (DJIA) closed lower by 128.48 points at 11,100.54 along with NASDAQ ended down by 18.77 points at 2,239.08 and S&P 500 index closed down by 13.90 points at 1,239.49.

Indian ADRs ended down. In technology sector, Infosys ended down by (13.30%) along with Satyam by (9.17%), Patni Computers by (4.74%) and Wipro dropped by (2.82%). In banking sector, ICICI bank and HDFC bank lost (7.38%) and (3.43%) respectively. In telecommunication sector, Tata Communication and MTNL ended down by (3.89%) and (2.46%)). Sterlite industries increased by (0.07%).

Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading higher by 146.21 points at 13,185.90, Hang Seng index is trading up by 113.57 points at 22,298.12 and Taiwan Weighted trading at 7,229.85 gained 14.91 points.

The FIIs on Friday stood as net seller in equity and in debt. The gross equity purchased was Rs1,988.40 Crore and the gross debt purchased was Rs28.60 Crore while the gross equity sold stood at Rs2,334.40 Crore and gross debt sold stood at Rs31.10 Crore. Therefore, the net investment of equity reported was (Rs345.90) Crore and net debt was (2.50) Crore.

Today, Nifty has support at 3,979 and resistance at 4,137 and BSE Sensex has support at 13,222 and resistance at 13,740.