Post Session Market -29 Aug 08

Domestic market ended the day with handsome gains tracing positive cues from global markets along with fall in crude oil and lower inflation number. Crude oil slipped to $116 per barrel on the back of assurances from the International Energy Agency and the US government. India''s inflation falls to 12.40% during the week ended August 16 2008, as against 12.63% in the previous week. It was a sea of green all across the market for throughout of session. Indian market opened on strong note strong global markets and drop in crude oil along with inflation number. Further domestic market continued to extend its gains and neglected the slower Q1 GDP growth. India’s Q1 GDP growth slows to 7.9% from 8.8% of previous quarter. Finally, market gained more ground during final trade to end with heavy gains. NSE Nifty ended above 4,300 mark and BSE Sensex crossed 14,500 level. From the sectoral front, all indices closed with gains and Bank stocks outperformed the benchmark as closed with increase of more than 6%. Along with this Metal, Capital Goods, Oil & Gas, Reality and Consumer Durable stocks were in limelight as witnessed most of the buying from these baskets. Midcap and Smallcap stocks also witnessed buying and closed with gains of more than2% and 1.5% respectively. The market breadth was positive as 1851 stocks closed in green while 790 stocks closed in red and 101 stocks remained unchanged.

The BSE Sensex closed higher by 516.19 points at 14,564.53 and NSE Nifty ended up by 146 points at 4,360. The BSE Mid Caps and Small Caps ended with gains of 133.44 points and 109.34 points at 5,742.29 and 6,891.64. The BSE Sensex touched intraday high of 14,586.16 and intraday low of 14,279.02.

Gainers from the BSE are SBI (7.19%), Reliance Infra (5.97%), ICICI Bank Ltd (5.93%), Tata Motors (5.44%), DLF Ltd (5.35%), JP Associates (5.16%), HDFC Bank Ltd (5.09%), Tata Steel (4.99%), BHEL (4.77%) and Wipro Ltd (4.42%).

The BSE Metal index advanced 422.87 points to close at 12,348.02. Gainers are Nalco (5.14%), SAIL (5.12%), Jai Corp Ltd (4.99%), NMDC Ltd (4.99%), Tata Steel (4.99%) and Isapt Industries (4.59%).

The BSE Bank index closed higher 413.28 points at 7,009.69. Major gainers are Kotak Bank (8.79%), Union Bank (8.60%), OBC (8.48%), Axis Bank (7.85%), Canara Bank (7.67%) and SBI (7.19%).

The BSE Capital Goods index gained 394.12 points to close at 11,886.62. Gainers are Punj Lloyd (7.55%), SLF India (5.89%), BHEL (4.77%), Lakshmi Ma W (4.77%), Suzlon Energy (4.73%) and Gammon Indi (4.51%).

The BSE Oil & Gas index closed higher 251.67 points at 9,659.46. Major gainers are BPCL (6.18%), Essar Oil Ltd (3.56%), Reliance Nat Res (3.28%), Reliance (3.04%), Aban Offshore (2.68%) and ONGC (2.36%).

The BSE Reality index ended up 242.18 points at 4,995.25. As Indiabull Real (11.51%), DLF Ltd (5.35%), Orbit Co (4.39%), Housing Dev (4.08%), Ansal Infra (3.87%) and Unitech Ltd (3.82%) closed in positive territory.

The BSE Consumer Durables index gained 91.95 points to close at 3,840.79. Major gainers are Gitanjali Ge (3.47%), Rajesh Export (3.46%), Titan Ind (2.58%), Blue Star L (2.15%) and Videocon Ind (1.89%).

Mid Session Market - 29 Aug 08

The markets are trading strongly as huge buying continued across the board mainly led by Banking, Realty, Capita Goods, Power and Metal stocks. The rate sensitive index got a boost irrespective of the GDP growth in the first quarter of the current fiscal year came in slower than expected. The GDP for the quarter ended June 2008 grew 7.9% as compared to 9.2% a year earlier and also 8.8% in the precious quarter. However, this has raised some hope that the central bank will keep key lending rates unchanged in its next monetary review in order to boost the economy. The BSE Sensex has gone above the 15500 mark and the NSE Nifty surpassed the 4300 mark. The BSE Mid Cap and the BSE Small Cap are also trading lower.

The overall market breadth is positive as 1744 stocks are advancing while 625 stocks are declining and the 79 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 116.75 points at 5,725.60 and the BSE small Cap advanced by 101.15 points to trade at 6,883.45.

At 12.30 pm, BSE Sensex was at 14,521.30 up by 472.96 points and the NSE Nifty was at 4,355.05 up by 141.05 points.

BSE Bankex index is trading higher by 395.04 points at 6,991.45. Gainers are ICICI Bank (7.50%), SBI (6.87%), PNB (6.51%) and HDFC Bank (5.08%).

BSE Metal index surged by 313.40 points at 12,238.55 as NALCO (5.92%), Tata Steel (3.51%), Sterlite Industries (3.34%) and Hindalco Industries (2.82%) are trading in green.

BSE Capital goods index advanced by 358.50 points to 11,851. The main gainers are BHEL (5.40%), L&T (4.01%), ABB (0.71%) and Siemens (0.48%).

BSE Oil & Gas index was trading 220.30 points higher at 9,628.09 as BPCL (5.01%), Essar Oil (3.98%), Gail India (2.51%) and RPL (2.27%) are trading in positive.

BSE Realty index improved by 195.80 points to 4,948.87. The major gainers are India Bull Real (8.32%), HDIL (4.76%), Ansal Infra (3.87%) and Unitech (3.72%).

BSE Auto index increased by 74.51 points to 3,985.96. The top gainers are Tata Motors (4.68%), Maruti Suzuki (2.99%), Mahindra & Mahindra (1.81%) and Hero Honda (0.86%).

BSE IT index inclined by 83.12 points to trade at 3,936.51 as HCL Technologies (4.91%), Wipro (3.33%), TCS (2.88%) and Satyam Computer (2.35%) trading in positive.

BSE Power index increased by 69.07 points to 2,585.48. Gainers are GVK Power (4.59%), Suzlon Energy (3.87%), Power Grid (3.69%) and Torent Power (2.78%).

Pre Session Market - 29 Aug 08

The Indian Market is expected to have positive opening as US markets ended higher and Asian markets are trading up. On Thursday, domestic market slipped sharply during final trading hours backed by heavy selling pressure due to the inflation fears and expiry of August series derivatives contracts. Contracts expired on dismal note with 75.3% rollover, which was higher than 67.2% average of last three months. Market opened with gains tracking positive cues from US markets but was not able to maintain the same momentum and slipped soon after beginning. Further domestic market continued its weakness and slipped sharply during last trading hours to close in red. Weak European markets also contributed to the selling pressure. Nifty and Sensex slipped towards 4,200 and 14,000 mark respectively. From the sectoral front, all indices closed in red and Capital Goods, Oil & Gas and Reality stocks lost more than 2%. Followed by Metal, Bank and IT stocks also witnessed heavy selling pressure form these baskets. Midcap and Smallcap stocks lost more than 1%. The BSE Sensex closed lower by 248.45 points at 14,048.34 and NSE Nifty ended down by 80.10 points at 4,214.00. The BSE Mid Caps closed with losses of 77.58 points at 5,608.85 along with Small Caps ended down by 77.61 points at 6,782.30.

We expect that market may gain some ground during the trading session, however the investors will be keeping their eye on GDP numbers for the first quarter of current fiscal, which will be announced by the government today.

India''s inflation, based on the wholesale price index falls to 12.40% during the week ended August 16 2008, as against 12.63% in the previous week, due to decrease in prices of fuel, power, light and lubricants.

On Thursday, the US market was closed higher on encouraging economic data and drop in crude. Second quarter GDP growth was revised upward better than expected to 3.3% from a previously reported 1.9%. Crude oil slipped to $116 per barrel on the back of assurances from the International Energy Agency and the US government that they were prepared to release strategic stockpiles if Hurricane Gustav hits the Gulf of Mexico.

The Dow Jones Industrial Average (DJIA) closed higher by 212.67 points to close at 11,715.18 along with the NASDAQ index ended up by 29.18 points to close at 2,411.64 and the S&P 500 (SPX) gained 19.02 points to close at 1,300.68.

Indian ADRs ended mixed. In technology sector, Infosys ended higher by (0.56%) followed by Satyam surged by (0.37%), while Patni Computers dropped by (0.10%) and Wipro by (0.09%). In banking sector ICICI Bank gained and HDFC Bank gained (2.80%) and (2.40%). In telecommunication sector, Tata Communication ended down by (2.30%) while MTNL advanced by (2.47%). Sterlite industries increased by (2.17%).

Today the major stock markets in Asia are trading higher. Hang Seng index is trading higher by 415.40 points at 21,387.69 along with Japan’s Nikkei trading up by 179.37 points at 13,047.62, Singapore''s Straits Times advanced by 32.56 points at 2,723.56 and Taiwan Weighted gained 17.20 points at 7,050.57.

The FIIs on Thursday stood as net buyer in equity and net seller in debt. The gross equity purchased was Rs1,882.20 Crore and the gross debt purchased was Rs81.50 Crore while the gross equity sold stood at Rs1,602.30 Crore and gross debt sold stood at Rs82.10 Crore. Therefore, the net investment of equity reported was Rs279.90 Crore and net debt was (Rs0.60) Crore.

The partially convertible rupee ended at 43.78/79 per dollar, 0.15 percent weaker than Wednesday''s close of 43.71/72. The rupee weakened as a rise in oil prices sparked dollar buying from refiners, and then steadied as exporters thought the currency was good value and on worries the Reserve Bank of India (RBI) would step in to stem losses.

Today, Nifty has support at 4,152 and resistance at 4,338 and BSE Sensex has support at 13,774 and resistance at 14,486

Post Session Market - 28 Aug 08

Markets showed sharp cut in the final trading hours to close with losses backed by heavy selling pressure due to the inflation fears. Nifty and Sensex slipped towards 4,200 and 14,000 mark respectively. Indian market opened with modest gains tracking positive cues from US markets but soon become unstable on rising inflation worries and expiry of August series derivatives contracts. Further domestic market continued to trade weak after the mid session without showing any sign of recovery. Market slipped sharply during last trading hours to close in red. Weak European markets also contributed to the selling pressure. Along with this rise in crude oil prices in international markets also fueled to the negative sentiment. Light, sweet crude for the October delivery raised $1.88 to settle at $118.15 a barrel on the New York Mercantile Exchange after it touched the peak of $119.63. From the sectoral front, all indices closed in red and Capital Goods, Oil & Gas and Reality stocks closed with deep cut of more than 2%. Along with this heavy selling pressure was visible in Metal, Bank and IT stocks. Midcap and Smallcap stocks lost more than 1%. The market breadth was negative as 1721 stocks closed in red while 898 stocks closed in green and 97 stocks remained unchanged.

The BSE Sensex closed lower by 248.45 points at 14,048.34 and NSE Nifty ended down by 80.10 points at 4,214.00. The BSE Mid Caps closed with losses of 77.58 points at 5,608.85 along with Small Caps ended down by 77.61 points at 6,782.30. The BSE Sensex touched intraday high of 14,347.19 and intraday low of 14,002.43.

Lossers from the BSE are Hindalco (12.60%), Reliance (3.45%), Reliance Infra (3.45%), BHEL (3.12%), TCS Ltd (3.05%), BHEL (2.34%), Reliance Com Ltd (2.98%), L&T Ltd (2.91%), Wipro Ltd (2.67%) and ICICI Bank Ltd (2.30%).

The BSE Capital Goods index lost 262.37 points to close at 11,492.50. Major lossers are Lakshmi Ma W (4.28%), Alstom Proje (4.12%), Praj Indus (3.69%), Thermax Ltd (3.61%), Walchand In (3.19%) and BHEL (3.12%).

The BSE Oil & Gas index closed lower by 247.81 points at 9,407.79. Lossers are Aban Offshore (4.92%), Essar Oil Ltd (4.53%), BPCL (4.38%), HPCL (3.98%), Reliance (3.45%) and Gail India (2.56%).

The BSE Metal index dropped by 224.79 points to close up at 11,925.15. Lossers are Hindalco (12.60%), Nalco (5.94%), NMDC Ltd (4.47%), Jai Corp Ltd (4.01%), Welspan Gujarat Sr (3.57%) and Ispat Indus (2.44%).

The BSE Bank index closed down by 119.04 points at 6,596.41. Lossers are Indus Ind Bank (5.61%), IOC (3.81%), Yes Bank (3.67%), Kotak Bank (3.15%), Allahabad Bank (2.89%) and ICICI Bank Ltd (2.30%).

The BSE Reality index ended lower by 83.97 points at 4,753.07 As Housing Development (5.51%), Anant Raj Industries (4.30%), Sobha Dev (3.65%), Ansal Infra (2.86%), Orbit Co (2.14%) and DLF Ltd (2.08%) closed in negative territory.

The BSE IT index lost 38.78 points to close at 3,853.39. Major lossers are Tech Mahindra (5.22%), Aptech Ltd (5.14%), I-Flex (3.94%), TCS Ltd (3.05%), Wipro Ltd (2.67%) and Financ Tech (2.42%)

Mid Session Market - 28 Aug 08

The markets are still trading lower with some volatility as the investors taking measured steps on the last day of the expiry of the August series and the inflation number is going to be out after the market hours. The selling pressure continued among most of the scrips like realty, Banking, Capital Goods, Oil & Gas and Metal stocks. However, the Auto, Pharma and Consumer durables stocks are trading higher. The BSE Sensex is hovering above the 14200 mark and the NSE Nifty above the 4200 mark. The BSE Mid Cap and the BSE Small Cap are also trading lower.

The overall market breadth is negative as 975 stocks are advancing while 1303 stocks are declining and the 107 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 22.79 points at 5,663.64 and the BSE small Cap slipped by 22.69 points to trade at 6,837.22.

At 12.30 pm, BSE Sensex was at 14,238.59 down by 58.20 points and the NSE Nifty was at 4,276.90 down by 15.20 points.

BSE Auto index increased by 21.15 points to 3,935.40. The top gainers are Hero Honda (2.06%), Maruuti Suzuki (0.65%), Tata Motors (0.33%) and Bajaj Auto (0.08%).

BSE Metal index slipped by 37.55 points at 12,112.39 as Hindalco Industries (10.40%), Ispat Industries (1.02%), SAIL (0.50%) and Tata Steel (0.48%) are trading in red.

BSE IT index declined marginally by 0.84 points to trade at 3,891.33 as Tech Mahindra (1.93%), TCS (0.56%) and Infosys Technologies (0.59%) trading in negative.

BSE Capital goods index declined by 70.39 points to 11,684.48. The main losers are Havells India (2.16%), BHEL (1.21%), L&T (0.94%) and Praj Industries (0.90%).

BSE Realty index dropped by 64.05 points to 4,772.99. The major losers are India Bull Real (3.67%), Sobha Developers (1.64%), DLF (1.34%) and HDIL (1.31%).

BSE Bankex index is trading lower by 51.60 points at 6,663.85. Losers are HDFC Bank (1.25%), ICICI Bank (0.98%), Kotak Bank (1.03%) and AXIS Bank (0.33%).

BSE Oil & Gas index was trading 50.68 points lower at 9,604.92 as HPCL (2.54%), Essar Oil (2.50%), ABN Offshore (1.59%) and BPCL (1.27%) are trading in negative.

BSE Power index decreased by 3.23 points to 2,547.08. Losers are Torent Power (1.07%), NTPC (0.32%) and Neyveli Lignite (0.18%).

Pre Session Market - 28 Aug 08

The Indian Market is expected to have positive opening as US markets ended higher and Asian markets are trading mixed. On Wednesday, domestic market sharply cut down during final trading hours on the back of heavy selling that led the market to close in red terrain. Market opened with gains tracking positive cues from global markets but was not able to sustain the same momentum and slipped soon after beginning. Domestic market traded in tight range and continued its downward journey ahead of August series derivatives contracts expiry, which is due today. Market lost further momentum and slipped sharply during final trading hours to close with losses. Weak European markets also fueled the negative sentiment. NSE Nifty ended below 4,300 mark and BSE Sensex around 14,300 level. From the sectoral front, all indices closed in red and reality stocks slipped dipper into negative with loss of more than 3%. Along with this Bank, Capital Goods, Oil & Gas, Power and Consumer Durable stocks also witnessed heavy selling from these baskets. The BSE Sensex closed lower by 185.43 points at 14,296.79 and NSE Nifty ended down by 45.10 points at 4,292.10. The BSE Mid Caps closed with losses of 58.34 points at 5,686.43 along with Small Caps ended down by 52.71 points at 6,859.91.

We expect that market may see volatile trade during the trading session ahead of inflation number for the week ended 16th August 2008 due to be released today evening and expiry of August series derivatives contracts today.

On Wednesday, the US market was closed higher. Encouraging data from manufacturing sector had offset the continuous third day jump in crude oil. Light, sweet crude for the October delivery raised $1.88 to settle at $118.15 a barrel on the New York Mercantile Exchange after it touched the peak of $119.63.

The Dow Jones Industrial Average (DJIA) closed higher by 89.64points to close at 11,502.51 along with the NASDAQ index ended up by 20.49 points to close at 2,032.46 and the S&P 500 (SPX) gained 10.15 points to close at 1,281.66.

Indian ADRs ended up. In technology sector, Infosys ended higher by (1.58%) followed by Wipro surged by (1.05%), Patni Computers by (0.95%) and Satyam by (0.32%). In banking sector HDFC Bank gained (0.80%) while ICICI Bank lost (1.15%). In telecommunication sector, Tata Communication ended up by (1.18%) while MTNL dropped by (0.83%). Sterlite industries increased by (0.28%).

Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading higher by 7.04 points at 12,760.00 along with Singapore''s Straits Times trading up by 3.34 points at 2,708.43. However, Hang Seng index trading lower by 209.89 points at 21,254.83 and Taiwan Weighted lost 16.97 points at 7,064.00.

The FIIs on Wednesday stood as net seller in equity and in debt. The gross equity purchased was Rs1,426.00 Crore and the gross debt purchased was Rs0.50 Crore while the gross equity sold stood at Rs1,932.00 Crore and gross debt sold stood at Rs46.30 Crore. Therefore, the net investment of equity reported was (Rs506.00) Crore and net debt was (Rs45.80) Crore.

The partially convertible rupee ended at 43.74/75 per dollar, stronger than 43.85/856 close on Tuesday. The Indian rupee gained 11 paise on Wednesday as the Reserve Bank of India (RBI) sold dollars for a second straight session after month-end demand for the U.S. unit from oil firms threatened to push the rupee above 44 per dollar.

Today, Nifty has support at 4,198 and resistance at 4,362 and BSE Sensex has support at 13,911 and resistance at 14,561

Pre Session Market - Aug 21 , 2008

The Indian Market is expected to have positive opening as the US market closed in green. On Wednesday, the market closed with gains after breaking its five days losing streak. The domestic market opened on positive note tracking favorable cues from the Asian markets as China lifted up the sentiments. Further market continued to trade in positive territory and gain ground till the end of session. Strong European markets also lifted the positive attitude. NSE Nifty ended above 4,400 mark and BSE Sensex above 14,600 level. From the sectoral front, most indices closed with gains and among those Metal, Capital goods, Reality, Pharma and Oil & Gas stocks were leaders of day as able to gain most of the favor from market. Mid cap and Small cap stocks also witnessed buying interest. However FMCG stock remained out of favor as most of the selling was seen from this basket. The BSE Sensex closed higher by 134.50 points at 14,678.23 and NSE Nifty ended up by 47.50 points at 4,415.75. The BSE Mid Caps and Small Cap closed with gains of 60.05 points and 53.49 points at 5,826.37 and 7,066.23 respectively. We expect that market may remain volatile during the trading session ahead of inflation number for the week ended 9th August 2008, due to be released today evening.

Nuclear Suppliers Group (NSG) is meeting today to decide on waiver for India. The NSG waiver for India will mean the government can enter into nuclear commerce with countries like Russia and France, despite results of the 123 Agreement on the Indo-US civilian nuclear co-operation in the US Congress.

On Wednesday, the US market was closed higher, despite rise in crude oil due to late rally in banks and better than expected results from Hewlett-Packard. Hewlett-Packard reported quarterly earnings of $0.83, which topped expectations by three cents. Crude oil closed at $114.98 a barrel on the New York Mercantile Exchange, rising for a second day

The Dow Jones Industrial Average (DJIA) closed higher by 68.88 points to close at 11,417.43. The S&P 500 (SPX) increased by 7.85 points to close at 1,274.54 and the NASDAQ index gained 4.72 points to close at 2,389.08.

Indian ADRs ended mixed. In technology sector, Patni Computers ended higher by (3.13%) followed by Wipro advanced by (1.47%), while Infosys dropped by (0.42%) and Satyam by (0.23%). In banking sector ICICI bank and HDFC Bank gained (3.98%) and (3.68%). In telecommunication sector, Tata Communication ended up by (1.04%) while MTNL dropped by (1.90%). However, Sterlite industries increased by (3.24%).

Today the major stock markets in Asia are trading weak despite Wall Street gains. Hang Seng index is trading lower by 309.44 points at 20,621.82 along with Taiwan Weighted trading down by 78.95 points at 6,961.95, Japan’s Nikkei trading 12,807.13 dropped by 44.56 points and Singapore''s Straits Times is down by 19.31 points at 2,732.44.

The FIIs on Wednesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,830.80 Crore and the gross debt purchased was Rs97.60 Crore while the gross equity sold stood at Rs3,966.60 Crore and gross debt sold stood at Rs51.80 Crore. Therefore, the net investment of equity reported was (Rs1,135.80) Crore and net debt was Rs45.90 Crore.

The Indian currency dropped for a seventh day lowest in almost 17 months on speculation that demand for dollars increased as crude oil prices rebounded from a 15-week low. The partially convertible rupee ended at 43.70/72 per dollar, a quarter of a per cent weaker than Monday''s close of 43.59/60.

Today, Nifty has support at 4,322 and resistance at 4,484 and BSE Sensex has support at 14,354 and resistance at 14,952.

Post Session Market - Aug 20 , 2008

The domestic market bounced back today and broke its five days losing streak to close with gains due to sustained buying in stocks across various sectors. Market opened on upbeat note tracking positive cues from the Asian markets as China lifted up the sentiments in Asian markets. Further market continued to sustain the positive momentum and traded with gains till end as buying support maintained across the board. The market had moved up sharply in mid afternoon trade. Positive cues from European markets also boosted up the sentiments. NSE Nifty ended above 4,400 mark and BSE Sensex above 14,600 level. From the sectoral front, most indices closed in green and among those Metal, Capital goods, Reality, Pharma and Oil & Gas stocks were leading gainers. Mid cap and Small cap stocks also witnessed buying interest. However FMCG stock remained out of favor as witnessed selling from this basket. The market breadth was positive as 1666 stocks closed in green while 969 stocks closed in red and 83 stocks remained unchanged.

The BSE Sensex closed higher by 134.50 points at 14,678.23 and NSE Nifty ended up by 47.50 points at 4,415.75. The BSE Mid Caps and Small Cap closed with gains of 60.05 points and 53.49 points at 5,826.37 and 7,066.23 respectively. The BSE Sensex touched intraday high of 14,746.20 and intraday low of 14,584.03.

Gainers from the BSE are Reliance Com Ltd (3.76%), Grasim Indus (3.64%), BHEL (3.40%), Bharti Airtel (2.99%), Ranbaxy Lab (2.71%), HDFC Bank Ltd (2.52%), DLF Ltd (1.90%), NTPC Ltd (1.41%) and JP Associates (1.27%).

The BSE Capital Goods index advanced by 207.11 points at 12,269.52. Major gainers are Reliance Industrial Infra (5.00%), Walchand In (4.99%), Gammon Indi (3.71%), Rajesh ABB Ltd (3.43%), BHEL (3.40%) and Elecon Eng C (3.22%).

The BSE Metal index ended up by 202.85 points at 12,475.65. Gainers are SAIL (5.53%), NMDC Ltd (5.00%), Ispat Industries (4.74%), Jindal Steel (2.49%), Ispat Jindal Saw (2.44%), and Hindustan Zinc (2.19%).

The BSE Reality index closed higher by 90.61 points at 5,207.81 as Orbit Co (5.00%), Parsvnath (3.21%), Mahindra Life (3.14%), Akruti City (2.77%), Sobha Dev (2.58%) and Unitech Ltd (2.52%) closed in positive territory.

The BSE Pharma index gained 69.97 points to close at 4,336.76. Major gainers are Opto Circuit (6.52%), Matrix Lab (4.33%), Wockhardt Lt (3.52%), Ranbaxy Lab (2.71%), Sun Pharma (2.66%) and Cipla Ltd (2.50%).

The BSE Oil & Gas index ended up by 44.56 points at 10,032.47 as Relaince Nat Res (3.98%), Gail India (1.54%), Reliance Petroleum (1.25%), Reliance (1.03%), BPCL (0.93%) and Essar Oil Ltd (0.86%) closed in positive territory.

The BSE FMCG index closed marginally lower 1.14 points at 2,161.71. Lossers are United Spr (2.07%), Marico Ltd (1.86%), HUL (0.41%), Nestle Ltd (0.33%), ITC Ltd (0.11%), and Godrej Cons (0.08%).

Mid Session Market - Aug 20 , 2008

The markets are still trading higher with significant gains as buying spree continued among the selective scrips mainly led by the Metal, Power, Realty and Pharma stocks. However, the IT and Oil & Gas stocks are trading lower. Te BSE is now hovering around the 14600 mark and the NSE Nifty near the 4400 mark. The BSE Mid Cap and the BSE Small Cap both are also trading higher.

The overall market breadth is positive as 1572 stocks are advancing while 774 stocks are declining and the 78 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 49.87 points at 5,816.20 and the BSE small Cap advanced by 57.76 points to trade at 7,070.50.

At 12.30 pm, BSE Sensex was at 14,614.44 up by 70.70 points and the NSE Nifty was at 4,393.50 up by 25.25 points.

BSE Metal index surged by 219.58 points at 12,492.38 as SAIL (3.50%), Ispat Industries (3.16%), Tata Steel (2.27%) and Jindal Steel (1.90%) are trading in green.

BSE Bankex index is trading higher by 46.89 points at 6,939.07. Gainers are Union Bank (2.60%), Indian Overseas Bank (2.86%), IDBI Bank (2.15%) and Allahabad Bank (1.98%).

BSE Capital goods index advanced by 114.28 points to 12,206.69. The main gainers are BHEL (2.22%), ABB (2.14%), BEML (1.34%) and L&T (1.10%).

BSE Realty index inclined by 90.99 points to 5,208.49. The major gainers are India Bull Real (2.83%), Ansal Infra (2.28%), MahindraLife (1.81%) and Omaxe Ltd. (1.48%).

BSE Auto index decreased by 0.55 points to 3,848.75. The top losers are Mahindra & Mahindra (2.32%), Ashok Leyland (0.47%) and Bajaj Auto (0.22%).

BSE Oil & Gas index was trading 13.40 points higher at 10,001.37 as RNRL (2.46%), RPL (1.38%), HPCL (0.94%) and Essar Oil (0.90%) are trading in positive.

BSE Power index increased by 41.62 points to 2,656.73. Gainers are Torent Power (3.92%), Reliance Power (3.12%), NTPC (1.79%) and Power Grid (1.74%).

BSE IT index slipped by 11.36 points to trade at 3,880.90 as Patni Computer (0.87%), Infosys Technologies (0.33%), TCS (0.19%) and Wipro (0.06%) trading in negative.

Pre Session Market - August 20 , 2008

The Indian Market is expected to have negative opening on weak global cues as US markets closed lower and Asian markets are trading weak along with rise in crude oil prices. On Tuesday, the market closed with marginal losses after recovering from days low. The domestic market opened on weak note tracking unfavorable cues from the global markets. Further market continued to trade in negative territory due to huge selling over the counters. Weak European markets along with fears of more losses from the US mortgage crisis also fueled to the negative sentiments. Due to some bouts of buying during last hour of trading, market pared its losses to close with minimum gap. NSE Nifty ended below 4,400 mark and BSE Sensex below 14,600 level. From the sectoral front, most of the indices closed in red and among that, Metal, Consumer Durable, IT and Auto stocks contributed to the most of the selling in market. However, Power and Bank stocks were in limelight as were able to gain market favor. The BSE Sensex closed lower by 101.93 points at 14,543.73 and NSE Nifty ended down by 24.80 points at 4,368.25. The BSE Mid Caps and Small Cap closed with losses of 15.48 points and 23.87 points at 5,766.32 and 7,012.74 respectively. We expect that market may remain volatile during the trading session.

On Tuesday, the US market was closed lower on continued concerns regarding financials along with rise in wholesale inflation and a rebound in crude oil prices. PPI Inflation rose 1.2% in July (consensus 0.6%) and core PPI, which excludes food and energy, rose 0.7% (consensus 0.2%). That leaves the YoY increase in total PPI at 9.8%, which is the highest since 1981. Crude oil ended above $115 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed lower by 130.84 points to close at 11,348.55. The NASDAQ index decreased by 32.62 points to close at 2,384.36 and the S&P 500 (SPX) fell 11.91 points to close at 1,266.69.

Indian ADRs ended down. In technology sector, Wipro ended higher by (0.78%), while Satyam dropped by (2.67%) along with Infosys by (2.06%) and Patni Computers by (1.16%). In banking sector ICICI bank and HDFC Bank reported marginal gain by (0.10%) and (0.01%). In telecommunication sector, MTNL dropped by (3.07%) along with Tata Communication by (0.26%). Sterlite industries decreased by (0.07%).

Today the major stock markets in Asia are trading weak following the fall on Wall Street overnight. Hang Seng index is trading marginally higher by 38.22 points at 20,522.59 while Taiwan Weighted trading down by 56.03 points at 6,922.57, Japan’s Nikkei trading 12,826.54 dropped by 36.51 points and Singapore''s Straits Times is down by 5.04 points at 2,733.43.

India''s rupee declined for a sixth day, on speculation stock losses will spur investors to reduce local assets. The rupee closed at 43.61 a dollar, the lowest since March 29, 2007, as against 43.59 of Monday.

Today, Nifty has support at 4,276 and resistance at 4,432 and BSE Sensex has support at 14,204 and resistance at 14,812.

Post Session Market - Aug 19 , 2008

The domestic market had shown smart recovery during final trading hours to came off from the day’s low but closed with marginal losses. Market opened on downbeat note tracking weak cues from the global markets and continued to trade lower due to heavy selling over the ground. Weak European markets also added to the negative sentiments. Along with this, fears of more losses from the US mortgage crisis globally mulled over the sentiment. Due to some buying during last half an hour of trade, market managed to pared some of its losses to close with minimal gap. NSE Nifty ended below 4,400 mark and BSE Sensex below 14,600 level. From the sectoral front, most of the indices closed in red and among that, Metal, Consumer Durable, IT and Auto stocks witnessed heavy selling from these baskets. However, Power and Bank stocks were in limelight as were able to gain market favor. The market breadth was negative as 1107 stocks closed in green while 1514 stocks closed in red and 90 stocks remained unchanged.

The BSE Sensex closed lower by 101.93 points at 14,543.73 and NSE Nifty ended down by 24.80 points at 4,368.25. The BSE Mid Caps and Small Cap closed with losses of 15.48 points and 23.87 points at 5,766.32 and 7,012.74 respectively. The BSE Sensex touched intraday high of 14,604.11 and intraday low of 14,368.72.

Lossers from the BSE are ACC Ltd (5.78%), Maruti Suzuki (3.90%), HDFC (3.24%), M&M Ltd (2.56%), Satyam Comp (3.21%), Reliance Com Ltd (2.06%), Bharti Airtel (2.05%), ITC Ltd (2.05%) and Sterlite Indus (1.61%).

The BSE Metal index closed down by 91.37 points at 12,272.80. Lossers are Jai Corp Ltd (4.99%), Sesa Goa Ltd (4.15%), NMDC Ltd (4.09%), Sterlite Indus (1.61%), Ispat Industries (1.56%), and Hindustan Zinc (1.54%).

The BSE Consumer Durables index dropped by 44.92 points at 3,783.26. Major lossers are Videocon Ind (1.89%), Gitanjali Ge (1.35%), Titan Ind (1.05%), Rajesh Export (1.01%) and Blue Star L (0.14%).

The BSE IT index ended lower by 34.12 points at 3,892.26. As Aptech Ltd (3.71%), Satyam Comp (3.21%), HCL Tech (1.97%), I-Flex (1.35%), NIIT Ltd (0.77%) and Moser Bayer (0.37%) closed in negative territory.

The BSE Auto index lost 33.33 points to close at 3,849.33. Major losers are Maruti Suzuki (3.90%), MRF Ltd (1.63%), Ashok Leyland (1.23%), M&M Ltd (1.21%), Exide Ind (0.84%) and Bosch Ltd (0.64%).

The BSE Bank index ended up by 6.81 points at 6,892.18. As ICICI Bank Ltd (2.01%), Bank of Baroda (1.24%), Oriental Bank of Commerce (1.03%), Canara Bank (0.72%), HDFC Bank Ltd (0.59%) and Allahabad Bank (0.24%) closed in positive territory.

The BSE Power index closed higher by 6.76 points at 2,615.11. Gainers are Lanco Infra (2.34%), Reliance Infra (2.26%), GVK Power (2.06%), Suzlon Energy (1.88%), GMR Infra (1.78%), and Siemens Ltd (1.44%).

Mid Session Market - Aug 19 , 2008

The markets are still trading with a deep cut as strong selling pressure continued across the board mainly led by the Auto, Realty, Consumer Durables and Banking stocks. The BSE Sensex is now hovering around the 14500 mark and the NSE Nifty is trading above the 4300 mark. The BSE Mid Cap and the BSE Small Cap both are also trading lower.

The overall market breadth is negative as 870 stocks are advancing while 1453 stocks are declining and the 89 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 34.44 points at 5,747.36 and the BSE small Cap slipped by 28.58 points to trade at 7,008.03.

At 12.30 pm, BSE Sensex was at 14,524.91 down by 120.75 points and the NSE Nifty was at 4,358.55 down by 34.50 points.

BSE IT index slipped by 23.84 points to trade at 3,902.54 as Satyam Computer (2.08%), HCL Technologies (1.44%), I-Flex (0.78%) and Wipro (0.28%) trading in negative.

BSE Bankex index is trading lower by 60.58 points at 6,824.79. Losers are Union Bank (4.13%), Kotak Bank (3.30%), IDBI Bank (3.72%) and PNB (1.92%).

BSE Capital goods index dropped by 62.40 points to 12,026.17. The main losers are BEML (1.54%), BHEL (1.38%), Gammon India (0.93%) and L&T (0.37%).

BSE Realty index declined by 79.08 points to 5,052.53. The major losers are Unitech (2.89%), Ansal Infra. (2.40%), HDIL (2.26%) and DLF (1.56%).

BSE Metal index dropped by 124.46 points at 12,239.71 as Sterlite Industries (2.73%), Jindal Saw (2.67%), Ispat Industries (1.95%) and Sesa Goa (1.63%) are trading in red.

BSE Auto index decreased by 60.11 points to 3,822.55. The top losers are Maruti Suzuki (4.55%), Ashok Leyland (2.62%), Mahindra & Mahindra (1.67%), Tata Motors (1.43%).

BSE Oil & Gas index was trading 28.86 points lower at 9,967.75 as Gail India (2.74%), Cairn India (1.25%), ONGC (1.11%) and Indian Oil (0.25%) are trading in negative.

BSE Power index decreased by 18.49 points to 2,589.86. Losers are Reliance Power (2.60%), Power Grid (2.34%), Suzlon Energy (0.92%) and Tata Power (0.60%).

Pre Session Market - Aug 19 , 2008

The Indian Market is expected to have negative opening on weak global cues as US markets closed lower and Asian markets are trading weak. On Monday, the market closed with losses after showing volatility during the trading session on domestic concerns like inflation worries. The domestic market opened weak tracking unfavorable cues from the Asian markets. Further market gained some ground and tried to recover but was not able to sustain the momentum and continued to slip further till end. Weak Asian and European markets also added to negative sentiments. From the scrotal front, most of the indices closed in red and among that, Metal, Oil & Gas, Consumer Durable, Capital goods, Auto and Power stocks were major sufferers as most of the selling was seen from these baskets. However, IT index was in limelight as witnessed most of the buying from this basket. The BSE Sensex closed lower by 78.52 points at 14,645.66 and NSE Nifty ended down by 37.65 points at 4,393.05. The BSE Mid Caps closed with losses of 41.62 points at 5,781.801 and Small Cap ended lower by 73.83 points 7,036.61. We expect that market may extend its losses during the trading session.

On Monday, the US market was closed lower on financial worries. Crude oil closed at $112.87 a barrel on the New York Mercantile Exchange. It settled below $113 per barrel for the first time in over three months. The Dow Jones Industrial Average (DJIA) closed lower by 180.51 points to close at 11,479.39. The NASDAQ index decreased by 35.54 points to close at 2,416.98 and the S&P 500 (SPX) fell 19.60 points to close at 1,278.60.

Indian ADRs ended down. In technology sector, Infosys ended lower by (1.79%) followed by Wipro dropped by (1.46%), Satyam by (1.26%) and Patni Computers by (1.05%). In banking sector ICICI bank and HDFC Bank lost (4.02%) and (2.26%). In telecommunication sector, MTNL dropped by (5.06%) along with Tata Communication lost (3.31%). However, Sterlite industries decreased by (2.79%).

Today the major stock markets in Asia are trading weak following the sell off on Wall Street overnight. Japan’s Nikkei is trading lower by 349.02 points at 12,816.43, Hang Seng index trading down by 193.50 points at 20,736.17, Taiwan Weighted trading 6,961.26 dropped by 39.48 points and Singapore''s Straits Times is down by 34.79 points at 2,742.19.

The FIIs on Monday stood as net seller in equity and in debt. The gross equity purchased was Rs1,834.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,230.50 Crore and gross debt sold stood at Rs97.20 Crore. Therefore, the net investment of equity reported was (Rs396.30) Crore and net debt was (Rs97.20) Crore.

The Indian currency crashed to its lowest close since 29th March 2007. The rupee weakened 1.3% to close at 43.59/60 than 43.01/02 at close on Thursday after recovering slightly from a intraday low of 43.70, per dollar that is its lowest since 29th March 2008.

Today, Nifty has support at 4,245 and resistance at 4,461 and BSE Sensex has support at 14,236 and resistance at 14,918.

Pre Session Market - Aug 18 , 2008

The Indian Market is expected to have negative opening on weak global cues as Asian markets are trading mixed. Domestic markets were closed on Friday for the Independence Day holiday. On Thursday, the market witnessed a sharp fall during the trading and closed with heavy losses. The domestic market opened weak tracking cues from the global markets. Further market continued to lose ground ahead of inflation data for the weak ended 2nd August 2008. India''s inflation, stood at 12.44% for the week ended 2nd August 2008 as against 12.01% of the previous week. Market tried to recover during the mid session but was not able to sustain the momentum and continued to slip further till end. From the sectoral front, most of the indices remained out of favour and among that Reality index closed with deep cut of more around 8%. Along with that Bank stocks lost more than5% followed by Capital Goods, Oil & Gas, Power and Auto stocks who also witnessed heavy selling from these baskets. However, IT index was able to gain the market favor. The BSE Sensex closed lower by 368.94 points at 14,724.18 and NSE Nifty ended down by 98.35 points at 4,430.70. The BSE Mid Caps and Small Caps closed with losses of 105.95 points and 119.33 points at 5,823.42 and 7,110.44 respectively. We expect that market may extend its losses during the trading session.

India''s inflation, based on the wholesale price index jumped to 16 year high at 12.44% for the week ended 2nd August 2008 as against 12.01% of the previous week. This rise is mainly due to rising fuel and food prices. The food articles index and fuel price index went up 0.9%.

On Friday, the US market was closed mixed. Crude oil shed more than 1% to settle below $114 per barrel The Dow Jones Industrial Average (DJIA) advanced by 43.97 points to close at 11,659.90. The S&P 500 (SPX) index increased by 5.27 points to close at 1,298.90 while the NASDAQ Composite (RIXF) fell 1.15 points to close at 2,452.52.

Indian ADRs also ended mixed. In technology sector, Infosys ended higher by (0.35%) while Patni Computers dropped by (3.06%) along with Satyam by (1.25%) and Wipro by (0.51%). In banking sector, HDFC bank gained (0.82%) while ICICI bank lost (0.95%). In telecommunication sector, MTNL dropped by (1.91%) while Tata Communication remained unchanged. However, Sterlite dedustries increased by (2.10%).

Today the major stock markets in Asia are trading Mixed. Japan’s Nikkei is trading higher by 231.06 points at 13,250.47 while Taiwan Weighted trading down by 91.65 points at 7,104.85, Hang Seng index trading 21,073.14 dropped by 87.44 points and Singapore''s Straits Times is down by 5.82 points at 2,791.68.

The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs1,928.60 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,574.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs646.30) Crore and net debt was Rs0.00 Crore.

The Indian rupee fell to its lowest in a month on Thursday due losses in stock market. The partially convertible rupee ended at 43.01/02 per dollar 1% weaker than Wednesday''s close of 42.65/66.

Today, Nifty has support at 4,313 and resistance at 4,501 and BSE Sensex has support at 14,320 and resistance at 15,022.

Post Session Market - Aug 18 , 2008

The domestic market ended the day with losses after showing volatility throughout the day. Market opened on downbeat note tracking weak cues from the Asian markets and soon moved into the positive territory due to some buying in key stocks. But the same momentum was not maintained and market turned volatile with negative bias. Tough selling pressure led market remained weak during final trading hours and close in red. Weak Asian and European markets also fueled to negative sentiments. NSE Nifty ended below 4,400 mark and BSE Sensex below 14,600 level. From the sectoral front, most of the indices closed in red and among that, most of the selling was seen from Metal, Oil & Gas, Consumer Durable, Capital goods, Auto and Power stocks However, IT index was in limelight as witnessed most of the buying from this basket. The market breadth was positive as 930 stocks closed in green while 1668 stocks closed in red and 78 stocks remained unchanged.

The BSE Sensex closed lower by 78.52 points at 14,645.66 and NSE Nifty ended down by 37.65 points at 4,393.05. The BSE Mid Caps closed with losses of 41.62 points at 5,781.801 and Small Cap ended lower by 73.83 points 7,036.61. The BSE Sensex touched intraday high of 14,824.92 and intraday low of 14,600.65.

Lossers from the BSE are Hindalco (4.53%), Grasim Indus (4.52%), Reliance Com Ltd (2.71%), M&M Ltd (2.56%), ACC Ltd (2.52%), Reliance (2.21%), Tata Steel (2.14%), JP Associates (1.86%) and ITC Ltd (1.83%).

The Metal index closed down by 229.73 points at 12,364.17. Lossers are Hindalco (4.53%), Jai Corp Ltd (3.92%), Ispat Indus (3.92%), Jindal Saw (2.58%), Steel Authority (2.47%), and Tata Steel (2.14%).

The Oil & Gas index ended down by 200.44 points at 9,996.61. As Gail India (5.56%), HPCL (3.63%), Reliance Pet(3.15%), Essar Oil Ltd (2.97%), Reliance Nat Res (2.67%) and Aban Offshore (2.43%) closed in negative territory.

The BSE Capital Goods index dropped by 50.15 points at 12,132.00. Major lossers are Aiaengineer (3.70%), Reliance Industrial Infra (3.46%), Suzlon Energy (3.17%), ABBLtd (3.12%), Crompton Greaves (2.96%) and Lakshmi Ma W (2.66%).

The BSE Auto index lost 50.39 points to close at 3,882.66. Major losers are Amtek Auto (3.69%), M&M Ltd (2.56%), Bajaj Auto (1.66%), Tata Motors (1.61), Bharat Forge (1.59%) and Maruti Suzuki (1.44%).

The BSE Power index closed lower by 40.28 points at 2,608.35. Lossers are Lanco Infra (5.12%), Suzlon Energy (3.17%), ABB Ltd (3.12%), Crompton Greaves (2.96%), Siemens Ltd (2.25%), and Torrent Power (1.89%).

The BSE IT index ended higher by 29.42 points at 5,199.20. As Rolta India (5.10%), Moser Bayer (3.76%), Rolata India (1.75%), Satyam comp (1.75%), TCS Ltd (1.24%) and Infosys Tech (0.77%), Wipro Ltd (0.64%) closed in positive territory.

Mid Session Market - Aug 18 , 2008

The markets are facing a little bit of volatility and are swinging in between the positive and negative territory. The buying support is seen in the IT, Bank, FMCG and Capital Goods index. However, the Oil & Gas, Auto and Metal stocks are still trading lower. The BSE Sensex is hovering around the 14700 mark and the NSE Nifty is trading around the 4400 mark. The BSE Mid Cap and the BSE Small Cap both have gave up their early morning gains and are now trading lower.

The overall market breadth is negative as 1100 stocks are advancing while 1197 stocks are declining and the 88 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 15.85 points at 5,807.57 and the BSE small Cap slipped by 13.13 points to trade at 7,097.30.

At 12.30 pm, BSE Sensex was at 14,690.80 down by 33.38 points and the NSE Nifty was at 4,409.20 down by 21.50 points.

BSE IT index advanced by 64.72 points to trade at 3,961.68 as Satyam Computer (2.59%), TCS (2.01%), Wipro (1.53%) and Infosys Technologies (1.57%) trading in positive.

BSE Bankex index is trading higher by 80.16 points at 6,983.12. Gainers are HDFC Bank (3.01%), Yes Bank (2.49%), Canara Bank (2.37%) and ICICI Bank (1.02%).

BSE Capital goods index improved by 76.35 points to 12,215.07. The main gainers are Punj Lloyd (1.71%), BHEL (1.29%), L&T (1.19%) and Elcon Engineering (0.49%).

BSE Realty index inclined by 8.03 points to 5,171.56. The major gainers are Ansal Infra (2.30%), DLF (0.38%), Mahindra Life (0.31%) and India Bull Real (0.21%).

BSE Metal index dropped by 74.37 points at 12,519.53 as Hindalco Industries (2.69%), Sterlite Industries (1.67%), SAIL (1.67%) and Sesa Goa (1.03%) are trading in red.

BSE Auto index decreased by 32.33 points to 3,900.72. The top losers are Bajaj Auto (4.42%), Tata Motors (1.52%), Mahindra & Mahindra (1.15%).

BSE Oil & Gas index was trading 147.94 points lower at 10,049.11 as HPCL (2.78%), BPCL (2.61%), ABN Offshore (1.89%) and Gail India (1.40%) are trading in negative.

BSE Power index decreased by 2.88 points to 2,645.75. Losers are Suzlon Energy (1.78%), Power Grid (1.52%), Torent Power (0.99%) and Tata Power (0.95%).

Post Session Market - Aug 14 , 2008

Domestic market ended the day with heavy losses as witnessed a sharp fall during the trading session on the back of sustained selling activity over the counters. Market opened on weak note tracking unfavorable cues from global markets and further continued to lose ground ahead of inflation data for the weak ended 2nd August 2008, due to be released today evening. Due to some buying, domestic markets made a partial recovery after mid session. But this recovery was not sustained and market continued to meltdown till the end of session. Due to the heavy selling during the final trading hours, market closed in deep red. It was a bad day for the market as BSE Sensex ended below 15,000 level and NSE Nifty ended below 4,450 mark. From the sectoral front, most of the indices underperformed and among that Reality index closed with deep cut of more around 8%. Along with that Bank stocks lost more than 5%. Capital Goods, Oil & Gas, Power and Auto stocks also witnessed heavy selling from these baskets. However, IT index was in limelight as it was able to gain the market favor. The market breadth was negative as 811 stocks closed in green while 1849 stocks closed in red and 70 stocks remained unchanged.

SEBI meeting was scheduled yesterday (13th August 2008) to review the regulatory framework governing P-notes. SEBI has brought down the timeline for rights issue of shares. Rights issues could now be completed in just 43 days after filing, instead of the existing 109 days.

The BSE Sensex closed lower by 368.94 points at 14,724.18 and NSE Nifty ended down by 98.35 points at 4,430.70. The BSE Mid Caps and Small Caps closed with losses of 105.95 points and 119.33 points at 5,823.42 and 7,110.44 respectively. The BSE Sensex touched intraday high of 15,033.28 and intraday low of 14,686.66.

Lossers from the BSE are DLF Ltd (8.66%), JP Associates (7.74%), Reliance Infra (7.72%), SBI (6.24%), ICICI Bank Ltd (5.25%), HDFC (5.21%), L&T Ltd (4.84%), BHEL (4.47%) and Reliance Com Ltd (3.75%).

The BSE Capital Goods index dropped by 468.22 points to close at 12,138.72. Lossers are Elecon Eng C (7.12%), Punj Lloyd (6.93%), Gammon Ind (6.31%), Crompton Greaves (4.89%), L&T Ltd (4.84%), BHEL (4.47%) and Alstom Proje (3.44%).

The BSE Reality index ended lower by 447.30 points at 5,163.53. Major lossers are Indiabull Real (13.89%), DLF Ltd (8.66%), Housing Development (7.54%), Unitech Ltd (26.82%), Akruti City (5.14%) and Anant Raj Indus (5.04%).

The BSE Bank index closed lower by 368.44 points at 6,902.96. Lossers are Canara Bank (8.37%), PNB (6.91%), Kotak bank (6.28%), SBI (6.24%), Bank of Baroda (6.14%), Union Bank (6.03%) and Bank of India (5.34%).

The BSE Oil & Gas index ended down by 241.94 points at 10,197.05. As HPCL (6.44%), Reliance Nat Res (6.29%), Essar Oil Ltd (2.82%), Relaince (2.80%), IOC (2.64%) and BPCL (2.08%) closed in negative territory.

The BSE Power lost 81.21 points to close at 2,648.63. As Reliance Infra (7.72%), Crompton Greaves (4.89%), GMR Infra (4.63%), BHEL (4.47%), R Power (4.17%) and Lanco Infra (3.80%) closed in negative territory.

The BSE IT index gained 83.00 points to close at 3,896.96. Major gainers are Mphasis Ltd (5.49%), Infosys Tech (3.95%), HCL Tech (2.50%), Satyam Computer (1.39%), I-Flex (1.28%) and Patni Computer (1.15%).

Mid Session Market - Aug 14 , 2008

The markets are still trading lower with a deep cut as strong selling pressure continued in the selective scrips mainly led by the Realty, Banking, Capital Goods, Power and Oil & Gas stocks. However, the IT and Metal stocks managed to trade in green. The BSE Sensex is now trading with a cut of more than 2%. The BSE Mid Cap and the BSE Small Cap both are trading with a cut of more than 1% each.

The overall market breadth is negative as 730 stocks are advancing while 1678 stocks are declining and the 72 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 80.42 points at 5,848.95 and the BSE small Cap slipped by 77.64 points to trade at 7,152.12.

At 12.30 pm, BSE Sensex was at 14,790.66 down by 302.44 points and the NSE Nifty was at 4,450.25 down by 78.80 points.

BSE IT index inclined by 71.22 points to trade at 3,885.18 as Infosys Technologies (3.07%), Mphasis (2.44%), HCL Technologies (2.07%) and I-Flex (2.02%) trading in positive.

BSE Metal index advanced by 36.42 points at 12,679.65 as Tata Steel (1.97%), Sterlite Industries (1.62%), JSW Steel (1.40%) and SAIL (0.83%) are trading in green.

BSE Realty index dropped by 335.18 points to 5,275.65. The major losers are India Bull Real (10.05%), DLF (6.31%), Unitech (4.65%) and HDIL (4%).

BSE Auto index decreased by 59.77 points to 3,930.30. The top losers are Hero Honda (4.67%), Maruti Suzuki (2.87%), Bajaj Auto (1.55%).

BSE Oil & Gas index was trading 178.26 points lower at 10,260.73 as HPCL (6.73%), RNRL (3.51%), Indian Oil (2.40%) and BPCL (1.60%) are trading in negative.

BSE Power index decreased by 80.99 points to 2,648.85. Losers are Suzlon Energy (2.96%), GVK Power (2.60%), Reliance Power (2.13%), NTPC (1.82%), Power Grid (1.59%).

BSE Capital goods index slipped by 421.60 points to 12,185.34. The main losers are BHEL (4.76%), L&T (3.62%), ABB (1.14%) and Siemens (0.26%).

BSE Bankex index is trading lower by 294.51 points at 6,976.89. Losers are SBI (4.63%), ICICI Bank (4.54%), HDFC Bank (4.26%) and PNB (3.38%).

Pre Session Market - Aug 14 , 2008

The Indian Market is expected to have negative opening on weak global cues as US markets closed on downbeat note and Asian markets are trading lower. On Wednesday, the Indian market closed with losses on the back of intense profit booking that was seen in key stocks ahead of SEBI meeting scheduled on 13th August to review the regulatory framework governing P-notes. Weak cues from European markets also dampened investor sentiment. The domestic market opened weak tracking cues from the global markets. Market slipped further to continue in negative territory. Further it continued to lose ground till the end of session. Investors were cautious on SEBI meet on participatory notes. NSE Nifty ended below 4,600 mark and BSE Sensex below 15,100 level. From the sectoral front, interest sensitive sectors like Bank and Realty along with Capital goods and Consumer Durables were under selling pressure while IT, Pharma and FMCG stocks gained the ground. The BSE Sensex closed lower by 119.01 points at 15,093.12 and NSE Nifty ended down by 23.20 points at 4,529.05. The BSE Mid Caps closed with losses of 6.16 points at 5,929.37 while Small Caps closed with gains of 9.35 points at 7,229.77.

We expect that market may remain voaltile during the trading session. Also, the inflation number for the week ended 26th July 2008, due to be released today evening will be a major concern for the market.

SEBI meeting was scheduled yeasterday to review the regulatory framework governing P-notes. SEBI has brought down the timeline for rights issue of shares. Rights issues could now be completed in just 43 days after filing, instead of the existing 109 days.

On Wednesday, the US market was closed lower with loss in economic sector led fresh worries about the financial sector and rise in crude oil. Crude prices rallied 2.9% to $116.31 per barrel after U.S. government data showed that crude stockpiles unexpectedly declined and gasoline inventory levels posted a steep drop.

The Dow Jones Industrial Average (DJIA) closed lower by 109.51 points at 11,532.96 along with S&P 500 index closed down by 3.76 points at 1,285.83 and NASDAQ closed at 2,428.62 lower by 1.99 points.

Indian ADRs ended mixed. In technology sector, Infosys ended higher by (0.88%) while Patni Computers dropped by (2.38%) along with Wipro by (1.06%) and Satyam by (0.97%). In banking sector, HDFC bank and ICICI bank lost (4.02%) and (1.96%) respectively. In telecommunication sector, MTNL gained (1.35%) while Tata Communication ended down by (0.87%). However, Sterlite industries increased by (3.61%).

Today the major stock markets in Asia are trading Mixed. Japan’s Nikkei is trading lower by 39.16 points at 12,983.89 along with Hang Seng index trading down by 27.67 points at 21,265.65, Taiwan Weighted trading at 7,282.27 dropped by 10.07 points and Singapore''s Straits Times is flat at 2,811.45. However, Seoul Composite gained 2.38 points at 1,565.1.

The FIIs on Wednesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,636.50 Crore and the gross debt purchased was Rs354.50 Crore while the gross equity sold stood at Rs3,020.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs384.30) Crore and net debt was Rs354.50 Crore.

The Indian rupee on Wednesday ended at 42.65/66 per dollar, off a low of 42.77, its weakest since July 29, and 0.7% weaker than 42.37/38 at close on Tuesday

Today, Nifty has support at 4,445 and resistance at 4,598 and BSE Sensex has support at 14,795 and resistance at 15,368.

Mid Session Market - Aug 13 , 2008

The markets have smartly recovered from the day’s low and are trading higher as significant buying witnessed in the selective scrips mainly led by the Pharma, IT, Metal and Realty stocks. However, the Banking stocks are still under pressure. The BSE Sensex is now trading above the 15200 mark and the NSE Nifty above the 4500 mark. The BSE Mid Cap and the BSE Small Cap have also gained some momentum and are trading higher.

The overall market breadth is positive as 1378 stocks are advancing while 986 stocks are declining and the 95 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 47.58 points at 5,983.11 and the BSE small Cap improved by 59.25 points to trade at 7,279.67.

At 12.30 pm, BSE Sensex was at 15,241.22 up by 29.09 points and the NSE Nifty was at 4,561.85 up by 9.60 points.

BSE Metal index surged by 144.14 points at 12,804.87 as Sterlite Industries (2.79%), Ispat Industries (2.37%), Jindal Saw (1.50%) and Nalco (1.65%) are trading in green.

BSE Realty index advanced by 67.93 points to 5,753.42. The major gainers are India Bull Real (7.95%), Ansal Infra (2.43%), Unitech (0.72%) and Sobha Developers (0.31%).

BSE Auto index increased by 7.49 points to 4,007.19. The top gainers are Hero Honda (0.54%), Tata Motors (0.45%), Mahindra & Mahindra (0.40%) and Bajaj Auto (0.41%).

BSE Oil & Gas index was trading 23.87 points higher at 10,466.15 as Cairn India (1.77%), RNRL (0.83%), RPL (0.55%) and Indian Oil (0.48%) are trading in positive.

BSE IT index inclined by 42.76 points to trade at 3,814.74 as I-Flex (1.46%), Infosys Technologies (1.35%), Satyam Computer (1.29%) and Mphasis (0.88%) trading in positive.

BSE Power index increased by 10.09 points to 2,754.10. Gainers are Torent Power (9.01%), GVK Power (6.36%), Reliance Power (0.96%), Tata Power (0.55%) and Power Grid (0.26%).

BSE Capital goods index improved by 40.17 points to 12,780.46. The main gainers are Gammon India (1.55%), BEML (1.32%), L&T (0.46%) and ABB (0.75%).

BSE Bankex index is trading lower by 60.12 points at 7,377.15. Losers are HDFC Bank (2.13%), ICICI Bank (1.84%), Canara Bank (0.90%) and Bank of India (0.62%). gross equity sold stood at Rs2,548.40 Crore and gross debt sold stood at Rs89.50 Crore. Therefore, the net investment of equity reported was Rs509.70 Crore and net debt was Rs269.80 Crore.

Pre Session Market - Aug 13 , 2008

The Indian Market is expected to have negative opening on weak global cues as US markets closed on downbeat note and Asian markets are trading lower. On Tuesday, the Indian market closed with losses for the first time in six days on weak IIP data. Weak cues from European markets also dampened investor sentiment and pushed them to lighten their positions. The domestic market opened marginally higher tracking positive cues from the US markets and steep drop in crude oil. Market slipped soon after start to trade in negative territory and extend its losses on IIP numbers. Further it continued to lose ground till the end of session. Investors were also cautious on SEBI meet on participatory notes on 13th August 2008. NSE Nifty ended below 4,600 mark and BSE Sensex ended below 15,300 level. From the sectoral front, Metal and Bank stocks lost more than 3%. Followed by, Reality, IT, Capital Goods and Pharma stocks that also remained out of favor. However, FMCG and Oil & Gas stocks were able to gain favor from the market as most of the buying was seen from these baskets. The BSE Sensex closed lower by 291.79 points at 15,212.13 and NSE Nifty ended down by 68.25 points at 4,552.25. The BSE Mid Caps and Small Caps closed with losses of 47.15 points and 50.93 points at 5,935.53 and 7,220.42 respectively.

We expect that market may trade lower with negative bias during the trading session. Also, the SEBI meet today to review the regulatory framework governing P-notes will give further direction to the market.

June IIP numbers were down at 5.4% (YoY) as against 8.9% of the same period of previous year, but it was above the previous month''''s upwardly revised 4.1%. India''''s infrastructure sector output grew by 3.4% in June 2008 from a year earlier, slightly below 3.5% annual growth in May 2008.

NSE, on Tuesday received an in principle approval from the Securities and Exchange Board of India to initiate an exchange to trade foreign currency derivatives. NSE is planning to start a separate segment on its existing stock and derivatives bourse to trade in forex derivatives.

On Tuesday, the US market was closed lower despite further fall in crude oil prices as losses from JPMorgan Chase & Co raised more concerns about the financial sector. According to JPM, trading conditions have deteriorated, which causes losses of $1.5 billion. Light, sweet crude for September settlement dropped by $1.44 to close at $113.01 a barrel on the New York Mercantile Exchange, after touching the low of $112.31, a new three month low. Oil is now nearly $35 below its July 11 record high of $147.27.

The Dow Jones Industrial Average (DJIA) closed lower by 139.88 points at 11,642.47 along with S&P 500 index closed down by 15.73 points at 1,289.59 and NASDAQ closed at 2,430.61 lower by 9.34 points.

Indian ADRs ended down. In technology sector, Satyam ended lower by (4.46%) along with Infosys by (3.31%), Wipro by (3.17%) and Patni Computers dropped by (2.15%). In banking sector, ICICI bank and HDFC bank lost (8.24%) and (5.26%) respectively. In telecommunication sector, Tata Communication and MTNL ended down by (2.85%) and (0.95%). However, Sterlite industries increased by (2.56%).

Today the major stock markets in Asia are trading lower extending losses for second consecutive day on Wall Street''s fall overnight. Japan’s Nikkei is trading lower by 297.02 points at 13,006.58 along with Hang Seng index trading down by 199.76 points at 21,441.23, Singapore''s Straits Times slipped by 26.49 points at 2,790.33, Taiwan Weighted trading at 7,268.35 dropped by 25.45 points and Seoul Composite fell 17.08 points at 1,560.04.

The FIIs on Tuesday stood as net buyer in both equity and debt. The gross equity purchased was Rs2,958.10 Crore and the gross debt purchased was Rs359.30 Crore while the gross equity sold stood at Rs2,548.40 Crore and gross debt sold stood at Rs89.50 Crore. Therefore, the net investment of equity reported was Rs509.70 Crore and net debt was Rs269.80 Crore.

Due to sharp fall in domestic stock market, Indian rupee lost 21 paise at 42.37/38 against the US dollar. Indian currency opened lower at 42.24/26 a dollar against yesterday''s close of 42.16/17 and moved down further to close at 42.37/38 per dollar.

Today, Nifty has support at 4,412 and resistance at 4,608 and BSE Sensex has support at 14,726 and resistance at 15,492.

Post Session Market - Aug 12 , 2008

The domestic market at last broke its winning trend to close the session with heavy losses on sustained selling pressures due to disappointing IIP numbers that were down at 5.4% YoY and negative cues from European and Asian markets. Market opened today on positive note tracking favorable cues from US markets and sharp drop in crude oil prices. Crude oil dropped below $113 a barrel and finally settled at $114.45 per barrel on the New York Mercantile Exchange. Market slipped soon after start to trade in negative territory and extend its losses on IIP numbers. Further, downward trend was continued till the end of session to close in red. From the sectoral front, Metal and Bank stocks closed with deep cut of more than 3%. Along with this, heavy sell off was seen in Reality, IT, Capital Goods and Pharma stocks. However, Consumer FMCG and Oil & Gas stocks were able to gain favor from the market as most of the buying was seen from these baskets. The market breadth was negative as 1100 stocks closed in green while 1556 stocks closed in red and 73 stocks remained unchanged.

June IIP numbers were down at 5.4% (YoY) as against 8.9% of the same period of previous year, but it was above the previous month''s upwardly revised 4.1%. India''s infrastructure sector output grew by 3.4% in June 2008 from a year earlier, slightly below 3.5% annual growth in May 2008.

The BSE Sensex closed lower by 291.79 points at 15,212.13 and NSE Nifty ended down by 68.25 points at 4,552.25. The BSE Mid Caps and Small Caps closed with losses of 47.15 points and 50.93 points at 5,935.53 and 7,220.42 respectively. The BSE Sensex touched intraday high of 15,579.38 and intraday low of 15,124.91.

Lossers from the BSE are Tata Steel (5.71%), Maruti Suzuki (5.23%), JP Associates (4.58%), Sterlite Indus (4.46%), ICICI Bank Ltd (4.20%), HDFC (4.03%), Infosys Tech (3.98%), Tata Power (3.68%) and HDFC Bank Ltd (3.42%).

The BSE Metal index dropped by 475.51 points to close at 12,660.73. As Tata Steel (5.71%), Jindal Steel (5.11%), Sterlite Indus (4.46%), JSW SL (3.61%), Ispat Indus (2.49%) and Hindustan Zinc (2.36%) closed in negative territory.

The BSE Bank index closed down by 265.08 points at 7,437.27. Lossers are IDBI Bank Ltd (5.68%), Axis Bank (5.03%), SBI (4.65%), ICICI Bank Ltd (4.20%), Bank of Baroda (3.98%), Bank of India (3.96%) and PNB (3.54%).

The BSE Reality index ended lower by 113.88 points at 5,685.49. Major lossers are Pheonix Mill (5.42%), Penland Ltd (5.09%), Housing Development (4.25%), Mahindra Indiabull Real (3.68%), Unitech Ltd (2.99%) and Parsvnath (2.16%).

The BSE IT index ended down by 110.09 points at 3,771.98. As Infosys Tech (3.98%), Moser Bayer (2.47%), Mphasis Ltd (2.33%), Wipro Ltd (2.06%), I-flex L (2.01%) and Tech Mahindra (2.00%) closed in negative territory.

The BSE Capital Goods index closed lower by 106.16 points at 12,740.29. Lossers are Jyoti Struct (4.80%), Walchand In (3.01%), Elecon Eng C (2.89%), Crompton Greaves (2.75%), Everest Kanto (2.72%) and Suzlon Energy (2.08%).

The BSE FMCG index gained 15.22 points to close at 2,222.15. Major Gainers are United Spr (1.60%), REI Agro Ltd (1.42%), ITC Ltd (1.19%), Tata Tea Ltd (0.63%) and Ruchi Soya (0.61%).

The BSE IT index closed down by 3.79 points at 3,882.07. Major lossers are Mphasis Ltd (2.40%), Patni Computer (1.37%), TCS Ltd (1.06%), Infosys Tech (0.58%) and Rolta India (0.12%).

Mid Session Market - Aug 12 , 2008

The markets are trading lower as selling pressure continued among the selective scrips mainly led by the Banking, IT, Metal, Consumer Durables and IT stocks. Further the selling pressure intensified after the government announced the IIP number for the month of June that came in at 5.4% as against 8.9% (YoY). India''s infrastructure sector output grew 3.4% in June 2008 from a year earlier, slightly below 3.5% annual growth in May 2008. The infrastructure sector accounts for 26.68% of India''s industrial output.

The overall market breadth is negative as 954 stocks are advancing while 1389 stocks are declining and the 93 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 21.42 points at 5,961.26 and the BSE small Cap is down by 18.90 points to trade at 7,252.45.

At 12.30 pm, BSE Sensex was at 15,305.56 down by 198.36 points and the NSE Nifty was at 4,570.75 down by 49.65 points.

BSE Metal index dropped by 195.05 points at 12,941.19 as Sterlite Industries (3.18%), Jindal Steel (2.33%), Tata Steel (1.38%) and Ispat Industries (1.24%) are trading in red.

BSE Bankex index is trading lower by 212.20 points at 7,490.15. Losers are ICICI Bank (3.34%), PNB (3.14%), Bank of Baroda (2.50%) and AXIX Bank (2.21%).

BSE Realty index slipped by 79.49 points to 5,719.88. The major losers are HDIL (2.28%), Sobha Developers (1.79%), Omaxe Ltd. (1.59%) and Parsavnath (1.19%).

BSE Auto index decreased by 62.69 points to 3,994.81. The top losers are Maruti Suzuki (4.29%), Tata Motors (2.05%), Ashok Leyland (2.08%) and Bajaj Auto (0.76%).

BSE Oil & Gas index was trading 7.35 points higher at 10,444.62 as BPCL (2.61%), Indian Oil (1.77%), HPCL (1.12%) and Cairn India (1.05%) are trading in positive.

BSE IT index declined by 74.38 points to trade at 3,807.69 as Infosys Technologies (3.72%), HCL Technologies (0.92%), TCS (0.77%) and Wipro (0.54%) trading in negative.

BSE Power index decreased by 22.78 points to 2,741.91. Losers are Tata Power (2.77%), Torent Power (1.49%), Suzlon Energy (1.08%) and GVK Power (1.55%).

BSE Capital goods index dropped by 116.17 points to 12,730.28. The main losers are Punj Lloyd (1.57%), BHEL (1.14%), L&T (0.62%) and ABB (0.66%).

Pre Session Market - Aug 12 , 2008

The Indian Market is expected to have positive opening due to the further drop in crude oil along with positive closing of the US markets. The Indian markets on Monday ended the day with smart gains and showed bull run throughout of trading session on sustained buying over the ground. Domestic market opened on strong note tracking favorable cues from the global markets along with steep drop in crude oil prices. Market gained further ground and continued to extend its gains till the end of session. Favorable cues from European market also boosted the positive attitude of investors. Both NSE Nifty and BSE Sensex ended with gains of more than 2%. NSE Nifty ended above 4,600 mark and BSE Sensex crossed 15,500 level. Rate sensitive stocks, infrastructure and oil stocks had played key role in the rally. From the sectoral front, Reality stocks registered gains of more than 5% followed by Oil & Gas, Bank, Metal and Auto stocks, who also contributed in significant buying. However, Consumer Durables and IT stocks remained out of favor as most of the selling was seen from these baskets. The BSE Sensex closed higher by 336.10 points at 15,503.92 and NSE Nifty ended up by 90.90 points at 4,620.40. The BSE Mid Caps and Small Caps closed with gains of 95.71 points and 89.61 points at 5,982.68 and 7,271.35 respectively. We expect that market may trade volatile during the trading session as the investors will be eyeing on the IIP figures which will be released today.

The government will release June 2008 industrial production data on 12 August 2008. Industrial production grew at the slowest pace in more than six years in May 2008, at 3.8%, as against 10.6% in the same month of 2007.

On Monday the US market closed with gains with strength in financials and retailers. Oil prices ran up and down and touched at a new three month low after dropping below $113 a barrel marks. Finally it settled at $114.45 per barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed higher by 48.03 points at 11,782.35 along with NASDAQ closed up by 25.85 points at 2,439.95 and S&P 500 index closed at 1,305.32 up by 9.00 points.

Indian ADRs ended mixed. In technology sector, Satyam ended higher by (2.50%) along with Wipro by (1.83%) while Patni Computers dropped by (0.89%) followed by Infosys by (0.43%). In banking sector, ICICI bank and HDFC bank gained (1.51%) and (0.98%) respectively. In telecommunication sector, Tata Communication and MTNL ended up by (1.47%) and (0.96%). Sterlite industries decreased by (6.02%).

Today the major stock markets in Asia are trading negative despite Wall Street extended the previous week''s gains. Japan’s Nikkei is trading down by 95.04 points at 13,335.87 along with Hang Seng trading lower by 37.06 points at 21,822.28, Taiwan Weighted trading at 7,290.56 down by 35.06 points, Strait Times index trading lower by 11.90 points at 2,813.49 and Seoul Composite is trading down by 7.02 points at 1,574.07.

The FIIs on Monday stood as net suyer both in equity and debt. The gross equity purchased was Rs2,074.90 Crore and the gross debt purchased was Rs194.30 Crore while the gross equity sold stood at Rs1,995.80 Crore and gross debt sold stood at Rs96.80 Crore. Therefore, the net investment of equity reported was Rs79.80 Crore and net debt was Rs97.50 Crore.

The Indian rupee erased all gains and ended lower against the US dollar. The Indian currency ended at 42.16/17, down from 42.06/07 on Friday, as a large company bought dollars offsetting gains due to a rise in stocks and lower oil prices.

Today, Nifty has support at 4,532 and resistance at 4,688 and BSE Sensex has support at 15,192 and resistance at 15768.

Post Session Market - Aug 11 , 2008

The domestic market ended with handsome gains after showing positive run for throughout of trading session on account of heavy buying activity across the board. Market opened on strong note tracking favorable cues from global markets and sharp drop in crude oil prices. Oil tumbled $4.82, to $115.20 a barrel. Further, market continued its northward journey to trade sharply higher and gain more grounds during final trading hours to close with smart gains. Positive cues from the European markets also added to the positive sentiment. NSE Nifty ended above 4,600 mark and BSE Sensex crossed 15,500 level. Rate sensitive stocks, infrastructure and oil stocks had played key role in today’s rally. From the sectoral front, Reality stocks outperformed the benchmark index and closed with gain of more than 5%. Along with this, Oil & Gas, Bank, Metal and Auto stocks were also in limelight as witnessed most of the buying pressure from these baskets. However, Consumer Durables and IT stocks remained out of favor as most of the selling was seen from these baskets. The market breadth was positive as 1738 stocks closed in green while 970 stocks closed in red and 68 stocks remained unchanged.

The BSE Sensex closed higher by 336.10 points at 15,503.92 and NSE Nifty ended up by 90.90 points at 4,620.40. The BSE Mid Caps and Small Caps closed with gains of 95.71 points and 89.61 points at 5,982.68 and 7,271.35 respectively. The BSE Sensex touched intraday high of 15,520.71 and intraday low of 15,367.97.

Gainers from the BSE are JP Associates (7.68%), Reliance Infra (6.86%), ICICI Bank Ltd (5.74%), Maruti Suzuki (5.27%), SBI (4.65%), ONGC (3.70%), Reliance Com Ltd (3.65%), DLF Ltd (3.57%) and Reliance (3.36%).

The BSE Bank index closed higher by 307.32 points at 7,702.35. Gainers are Canara Bank (7.39%), ICICI Bank Ltd (5.74%), SBI (4.65%), Bank of India (4.28%), Karnataka Bank (3.89%) and Bank of Baroda (3.64%).

The BSE Oil & Gas index ended up by 298.17 points at 10,437.27. As ONGC (3.70%), Reliance (3.36%), Gail India (2.86%), HPCL (2.70%) and IOC (2.58%) closed in positive territory.

The BSE Reality index ended higher by 290.49 points at 5,799.37. Major gainers are Indiabull Real (13.73%), Unitech Ltd (6.27%), DLF Ltd (3.57%), Mahindra Life (2.84%), Omaxe Ltd (2.61%) and Penland Ltd (2.51%).

The BSE Capital Goods index closed higher by 280.57 points at 12,846.45. Gainers are Gammon India (8.39%), Elecon Eng C (7.02%), Jyoti Struct (6.75%), Aiaengineer (5.67%), Bharat Bijli (4.68%) and Thermax Ltd (4.66%).

The BSE Auto index ended up by 87.23 points at 4,057.50. As Maruti Suzuki (5.27%), Bharat Forge (3.49%), Bajaj Auto (3.16%), Apollo Tyre (2.95%), Amtek Auto L (2.90%) and M&M Ltd (2.78%) closed in positive territory.

The BSE Consumer Durables index lost 4.27 points to close at 3,981.31. Major lossers are Videocon Ind (1.99%) and Blue Star L (0.22%).

The BSE IT index closed down by 3.79 points at 3,882.07. Major lossers are Mphasis Ltd (2.40%), Patni Computer (1.37%), TCS Ltd (1.06%), Infosys Tech (0.58%) and Rolta India (0.12%).

Mid Session Market - Aug 11 , 2008

The markets have maintained its opening gains and are still trading higher as strong buying continued across the board. The Realty, Banking, Oil & Gas and Capital Goods stocks are the facing the most buying support. The BSE Mid Cap BSE Small Cap are also trading with strong gains and are in line with the benchmark index. The BSE Sensex is now trading above the 15400 mark and the NSE Nifty above the 4600 mark.

The overall market breadth is positive as 1810 stocks are advancing while 658 stocks are declining and the 76 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 97.52 points at 5,984.49 and the BSE small Cap is up by 110.50 points to trade at 7,292.24.

At 12.30 pm, BSE Sensex was at 15,448.13 up by 280.30 points and the NSE Nifty was at 4,602.70 up by 73.20 points.

BSE Metal index advanced by 147.99 points at 13,246.81 as Sesa Goa (3.62%), JSW Steel (1.47%), NALCO (1.43%) and Tata Steel (1.20%) are trading in green.

BSE Bankex index is trading higher by 227.82 points at 7,622.85. Gainers are SBI (3.91%), PNB (3.63%), HDFC Bank (3.01%) and ICICI Bank (2.90%).

BSE Realty index surged by 179.35 points to 5,488.28. The major gainers are India Bull Real (8.31%), Unitech (5.19%), Parsavnath (3.98%) and Omaxe Ltd. (3.51%).

BSE Auto index increased by 56.19 points to 4,026.46. The top gainers are Bajaj Auto (3.67%), Maruti Suzuki (2.59%), Tata Motors (1.80%) and Ashok Leyland (1.20%).

BSE Oil & Gas index was trading 239.29 points higher at 10,378.39 as Indian Oil (2.49%), Gail India (2.44%), ONGC (2.38%) and RPL (1.82%) are trading in positive.

BSE IT index inclined by 24.52 points to trade at 3,910.38 as HCL Technologies (2.71%), Tech. Mahindra (2.17%), I-Flex (0.71%) and Infosys Technologies (0.37%) trading in positive.

BSE Power index increased by 48.55 points to 2,749.65. Gainers are GVK Power (6.18%), Reliance Power (1.95%), Tata Power (1.96%) and Torent Power (1.31%).

BSE Capital goods index improved by 228.46 points to 12,794.34. The main gainers are Siemens (2.29%), BHEL (1.94%), ABB (1.62%) and L&T (1.50%).

Pre Session Market - Aug 11, 2008

The Indian Market is expected to have positive opening as the US markets closed with heavy gains and Asian market are trading firm and a sharp fall in crude oil prices. The Indian markets on Friday took a turn in the final hours of the trading session and closed with marginal gains. After a negative start to the session backed by weak cues from the US markets, domestic market recovered some ground. However, the market did not sustain the same momentum and turned choppy as investors'' worries over rising inflation rate deepened. Inflation stood at 12.01% for the week ended 26th July 2008, up from 11.98% for the previous. Due to the buying interest during the final trading hours market moved up to close in positive territory. NSE Nifty ended above 4,500 mark and BSE Sensex above 15,100 level. Market traded weak as selling pressure was seen in rate sensitive stocks like Realty, and IT. From the sectoral front, Metal, Consumer Goods and Bank stocks were able to gather the buying momentum. However, IT and Reality stocks remained out of favor as most of the selling was seen from these baskets. The BSE Sensex closed higher by 50.57 points at 15,167.82 and NSE Nifty ended marginally up by 5.65 points at 4,529.50 The BSE Mid Caps closed with gains of 5.37 points at 5,886.97 and Small Cap ended up by 14.75 points 7,181.74. We expect that market may gain further ground during the trading session.

SEBI’s planning to introduce know your customers norms for FIIs and its meeting on 13th August 2008 for the same. These norms are related to issuance of P-notes that was earlier revised on October 2007.

On Friday the US market closed with heavy gains after oil prices tumbled more than $4 a barrel. Oil tumbled $4.82, to $115.20 a barrel, despite concerns over potential supply interruptions from a sabotaged pipeline in Turkey and military conflict between Russia and Georgia.

The Dow Jones Industrial Average (DJIA) closed higher by 302.89 points at 11,734.32 along with NASDAQ closed up by 58.37 points at 2,414.10 and S&P 500 index closed at 1,296.32 up by 30.25 points.

Indian ADRs ended in green. In technology sector, Infosys ended higher by (1.54%) along with Satyam by (1.13%), Patni Computers by (0.81%) followed by Wipro by (0.09%). In banking sector, ICICI bank and HDFC bank gained (7.99%) and (5.49%) respectively. In telecommunication sector, MTNL ended up by (0.97%) while Tata Communication lost (1.10%). Sterlite industries increased by (2.33%).

Today the major stock markets in Asia are trading firm on stronger Wall Street. Japan’s Nikkei is trading up by 225.96 points at 13,394.37 along with Hang Seng trading higher by 209.63 points at 22,094.84, Taiwan Weighted trading at 7,300.39 up by 91.35 points, Seoul Composite trading higher by 20.49 points at 1,589.21 and Strait Times index is trading up by 5 points at 2,839.71.

The FIIs on Friday stood as net seller both in equity and debt. The gross equity purchased was Rs2,379.50 Crore and the gross debt purchased was Rs98.60 Crore while the gross equity sold stood at Rs2,398.50 Crore and gross debt sold stood at Rs174.50 Crore. Therefore, the net investment of equity reported was (Rs19.00) Crore and net debt was (Rs75.90) Crore.

Indian Rupee eased its initial losses to close unchanged at 42.06/07, a shade stronger than Thursday''s close of 42.07/08. It recovered 0.5% from intraday low of 42.29 and for the week, it is up 0.66%.

Today, Nifty has support at 4,626 and resistance at 4,718 and BSE Sensex has support at 14898 and resistance at 15,666.

Post Session Market - August 08 , 2008

The market bounced back during final hours of trading to close with marginal gains. Domestic market had opened lower due to weak cues from US markets due to a rise in unemployment and poor retail figures. The number of first time claims filed in the week ending 2nd August 2008, rose by 7,000 to 455,000, the highest level since March 2002. Along with this results from US retailers including Wal-Mart have shown disappointing sales for July and an increase in crude oil price above $120 a barrel also adds to the sentiments. The market showed a lot of volatility soon after the start as annual inflation rate crossed 12% mark for first time in 13 years. Inflation stood at 12.01% for the week ended 26th July 2008, up from 11.98% for the previous week. The market after remaining in negative territory for a long time, moved up in positive territory during the closing hours, on the back of buying interest in Metal, Bank and Consumer Goods indices. NSE Nifty ended above 4,500 mark and BSE Sensex above 15,100 level. Market traded weak as selling pressure was seen in rate sensitive stocks like Realty, and IT. From the sectoral front, Metal, Consumer Goods and Bank stocks were able to gather the buying momentum. However, IT and Reality stocks remained out of favor as most of the selling was seen from these baskets. The market breadth negative as 1323 stocks closed in green while 1405 stocks closed in red and 71 stocks remained unchanged.

The BSE Sensex closed higher by 50.57 points at 15,167.82 and NSE Nifty ended marginally up by 5.65 points at 4,529.50. The BSE Mid Caps and Small Cap closed with gains of 5.37 points and 14.75 points at 5,886.97 and 7,181.74 respectively. The BSE Sensex touched intraday high of 15,228.82 and intraday low of 14,888.12.

Gainers from the BSE are Sterlite Inds (4.10%), ONGC (3.99%), ICICI Bank Ltd (2.88%), L&T Ltd (2.76%), HDFC Bank Ltd (2.11%), Hindalco (1.87%), AMruti Suzuki (1.66%), HDFC (1.48%) and Tata Steel (1.31%).

Lossers from the BSE are Grasim Indus (2.48%), Wipro Ltd (2.41%), Infosys Tech (2.41%), JP Assoc (2.08%), Satyam Computer (1.81%), ACC Ltd (1.48%) and DLF Ltd (1.15%).

The BSE Metal index closed higher by 212.85 points at 13,098.82. Gainers are NMDC Ltd (4.99%), Sterlite Indus (4.10%), Hindustan Zinc (2.45%), Hindalco (1.87%), Jindal Saw (1.77%) and Tata Steel (1.31%).

The BSE Consumer Goods index closed higher by 170.98 points at 12,565.98. Gainers are L&T Ltd (2.76%), Bharat Bijli (2.41%), Jyoti Struct (2.38%), SKF India (2.36%), Gammon India (1.96%) and Aiaengineer(2.33%).

The BSE Bank index advanced by 111.88 points to close at 7,395.03. Gainers Kotak Bank (6.04%), ICICI Bank Ltd (2.88%), Union Bank (2.75%), Indus Ind Bank (2.27%), HDFC Bank Ltd (2.11%) and Yes Bank (1.99%) closed in positive territory.

The BSE Power index ended up by 14.64 points at 32,701.10. As Torant Power ended higher (6.17%), Suzlon Energy (1.69%), ABB Ltd (1.54%), Lanco Infra (1.53%), R Power (1.47%) and GMR Infra (1.19%) closed in positive territory.

The BSE Reality index ended lower by 72 points at 5,508.88. Major lossers are Ansal Infra (3.39%), Pheonix Mill (3.36%), Indiabull Real (2.43%), Unitech (1.81%) and Penland Ltd (1.40%).

The BSE IT index lost 69.01 points to close at 3,885.56. Major lossers are Infosys Tech (2.41%), Wipro Ltd (2.41%), Satyam Computer (1.81%), Rolta India (1.30%) and TCS Ltd (1.04%).

Mid Session Market - Aug 08 , 2008

The markets have lost further grounds as selling pressure continued among the selective scrips mainly led by the Banking, Realty, IT and Capital Goods stocks. However, the Metal and Pharma stocks are on a buying spree. The BSE Sensex is now trading below the 15100 mark and the NSE Nifty has slipped below the 4500 mark.

The overall market breadth is negative as 1047 stocks are advancing while 1375 stocks are declining and the 73 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 34.07 points at 5,847.52 and the BSE small Cap is down by 6.26 points to trade at 7,160.73.

At 12.30 pm, BSE Sensex was at 14,919.40 down by 197.85 points and the NSE Nifty was at 4,476.35 down by 47.50 points.

BSE Metal index surged by 144.29 points at 13,030.26 as Sterlite Industries (2.13%), Tata Steel (0.96%), JSW Steel (0.81%) and Nalco (0.61%) are trading in green.

BSE Bankex index is trading lower by 155.46 points at 7,127.69. Losers are Bank of India (2.89%), PNB (2.03%), SBI (2.55%) and ICICI Bank (2.77%).

BSE Realty index slipped by 92.60 points to 5,488.28. The major losers are DLF (2.81%), Ansal Infra (2.58%), India Bull Real (1.99%) and Unitech (1.90%).

BSE Auto index decreased by 26.37 points to 3,940.66. The top losers are Mahindra & Mahindra (2.28%), Maruti Suzuki (1.13%), Ashok Leyland (0.90%) and Bajaj Auto (0.40%).

BSE Oil & Gas index was trading 49.77 points lower at 10,103.30 as Cairn India (5.13%), BPCL (3.34%), HPCL (2.97%) and Indian Oil (2.43%) are trading in negative.

BSE IT index declined by 66.41 points to trade at 3,888.46 as Satyam Computer (2.65%), Infosys Technologies (2.07%), Wipro (1.92%) and TCS (1.69%) trading in negative.

BSE Power index decreased by 25.85 points to 2,660.61. Losers are Reliance Infra (1.98%), Power Grid (1.46%), NTPC (1.06%) and GVK Power (0.38%).

BSE Capital goods index dropped by 164.09 points to 12,230.81. The main losers are Siemens (3.80%), BHEL (2.42%), L&T (1.61%) and ABB (0.56%).

Pre Session Market - Aug 08 , 2008

The Indian Market is expected to have negative opening on weak global cues as US markets closed with losses and Asian markets are trading mixed along with rise in crude oil prices. On Thursday, the Indian market closed with marginal gains after showing volatility during the trading session. The domestic market opened marginally lower tracking negative cues from the Asian markets. Further, it showed some recovery but lost the momentum and turned volatile to close with minor gains ahead of inflation worries. NSE Nifty ended above 4,500 mark and BSE Sensex ended above 15,100 level. From the sectoral front, Consumer Durables and Auto stocks overtake the market followed by Bank, IT and Reality stocks as witnessed significant buying from these baskets. However, only Capital Goods, Oil & Gas and Power stocks were sufferers of investor’s negative attitude. The BSE Sensex closed higher by 43.71 points at 15,117.25 and NSE Nifty ended marginally up by 6.30 points at 4,523.85. We expect that market may remain volatile during the trading session.

India''s annual inflation increased to more than 12% for the first time in over 13 years, which added fuel to expectations of further monetary tightening to tame prices. Inflation edged higher to 12.01% for the week ended 26th July 2008, up from 11.98% for the previous. This increase is due to the prices of pulses, spices, eggs, fish and meat among other things continued to rise.

The Bank of England kept unchanged the British interest rates at 5.0% for the fourth month in a row. Along with this the European Central Bank that left its benchmark interest rate unchanged at 4.25% on Thursday while acknowledged that the economy was struggling because of high energy prices and slower growth.

Czech Republic''s central bank unexpectedly cut its benchmark interest rate by 25 basis points to 3.5%. Most analysts had expected the central bank to keep rates unchanged. This is in response to easing inflationary pressures and an attempt to prevent further appreciation of the Czech koruna and is the first reduction for more than three years.

On Thursday, the US market was closed in deep red due to a rise in unemployment and poor retail figures. The number of first time claims filed in the week ending 2nd August 2008, rose by 7,000 to 455,000, the highest level since March 2002. Along with this results from US retailers including Wal-Mart have shown disappointing sales for July. Increase in crude oil price above $120 a barrel also added to the negative sentiment. Light, sweet crude for September delivery rose $1.56 to settle at $120.02 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed lower by 224.64 points at 11,431.43 along with S&P 500 index closed down by 23.12 points at 1,266.07 and NASDAQ closed at 2,355.73 down by 22.64 points.

Indian ADRs ended mixed. In technology sector, Patni Computers ended higher by (0.72%) along with Satyam by (0.13%) while Wipro dropped by (2.80%) followed by Infosys by (0.2.36%). In banking sector, ICICI bank and HDFC bank lost (4.12%) and (1.70%) respectively. In telecommunication sector, Tata Communication and MTNL ended up by (2.73%) and (0.78%). Sterlite industries increased by (3.10%).

Today the major stock markets in Asia are trading mixed. Taiwan Weighted is trading higher by 106.04 points at 7,130.62 along with Hang Seng index trading up by 7.95 points at 22,112.15 while Japan’s Nikkei is trading down by 74.03 points at 13,050.96 and Singapore''s Straits Times lost 17.81 points at 2,816.90.

The FIIs on Thursday stood as net buyer in both equity and debt. The gross equity purchased was Rs4,921.90 Crore and the gross debt purchased was Rs104.40 Crore while the gross equity sold stood at Rs3,293.30 Crore and gross debt sold stood at Rs91.90 Crore. Therefore, the net investment of equity reported was Rs1,628.60 Crore and net debt was Rs12.50 Crore.

The Indian rupee ended steady on Thursday. The partially convertible rupee ended at 42.075/080 per dollar, off a high of 41.87 and little changed from its previous close of 42.08/09.

Today, Nifty has support at 4,422 and resistance at 4,593 and BSE Sensex has support at 14,737 and resistance at 15,401.

Post Session Market - Aug 07 , 2008

The domestic market managed to close with marginal gains after remained unstable during the trading session. Market opened slightly lower due to weak cues from Asian markets. Further gained some ground as buying action was witnessed across board. However, same momentum did not sustain for long as the volatility griped the market ahead of inflation number for the week ended 26th July 2008, which is due to come out today evening. NSE Nifty ended above 4,500 mark and BSE Sensex above 15,100 level. From the sectoral front, Consumer Durables, Auto, Bank, Reality and IT stocks tried to offset the negative sentiment as were able to gather the buying momentum. However, Capital Goods, Oil & Gas and Power stocks remained out of favor as most of the selling was seen from these baskets. The market breadth was just above positive as 1406 stocks closed in green while 1284 stocks closed in red and 95 stocks remained unchanged.

The BSE Sensex closed higher by 43.71 points at 15,117.25 and NSE Nifty ended marginally up by 6.30 points at 4,523.85. The BSE Mid Caps closed with gains of 26.18 points at 5,881.60 and Small Cap ended up by 22.86 points 7,166.99. The BSE Sensex touched intraday high of 15,280.06 and intraday low of 14,992.97.

Gainers from the BSE are Sterlite Inds (4.43%), Tata Motors (4.10%), HDFC (3.37%), Grasim Ind (2.49%), M&M Ltd (2.48%), Maruti Suzuki (2.41%), Satyam Computer (2.25%), DLF Ltd (1.88%) and NTPC Ltd (1.78%).

Lossers from the BSE are BHEL (2.88%), Bharti Airtel (2.25%), Reliance Com Ltd (1.78%), Ranbaxy Lab (1.68%), HUL (1.47%), Wipro Ltd (1.09%), Tata Power (1.06%) and Reliance (1.06%).

The BSE Consumer Durables index closed higher by 110.66 points at 3,977.97. Gainers are Gitanjali Ge (6.48%), Titan Ind (3.89%), Videocon Ind (2.67%), Rajesh Export (1.72%) and Blue Star L (0.71%).

The BSE Bank index advanced by 47.77 points to close at 7,283.15. Gainers HDFC Bank Ltd (3.03%), PNB (1.09%), Bank of Baroda (0.91%), Axis Bank (0.61%) and Federal Bank (0.16%) closed in positive territory.

The BSE Auto index ended up by 47.39 points at 3,967.03. As Tata Motors ended higher (4.10%), M&M Ltd (2.48%), Maruti Suzuki (2.41%), Ashok Leyland (1.69%), Apollo Tyre (1.39%) and Bosch Ltd (0.71%) closed in positive territory.

The BSE Reality index ended higher by 38.21 points at 5,580.88. Major gainers are Ansal Infra (14.87%), Omaxe Ltd (3.51%), Parsvnath (3.13%), DLF Ltd (1.88%), Unitech (1.27%) and Orbit Co (1.15%).

The BSE IT index gained 31.20 points to close at 3,954.87. Major gainers are Moser Bayer (4.02%), Mphasis Ltd (3.14%), Aptech Ltd (2.53%), Satyam Computer (2.25%) and Patni Computer (2.05%).

The BSE Capital Goods index closed lower by 87.98 points at 12,394.90. Lossers are Crompton Greaves (3.33%), BHEL (2.88%), Jyoti Struct (2.86%), Bharat Bijli (2.40%), Gammon India (1.96%) and Areva (1.58%).

The Oil & Gas index closed down by 34.62 points at 10,153.07. Lossers are Reliance Pet (2.07%), BPCL (1.41%), Reliance (1.06%) and HPCL (0.71%).

Mid Session Market - Aug 07 , 2008

The markets are now trading higher as buying support continued among the selective scrips mainly led by the Consumer Durables, Metal, Auto and IT stocks. However, the Capital Goods and Power stocks are trading in red. The BSE Sensex is now trading above the 15100 mark and the NSE Nifty above the 4500 mark. The BSE Mid Cap and BSE Small Cap are also trading higher.

The overall market breadth is positive as 1425 stocks are advancing while 1008 stocks are declining and the 81 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 44.78 points at 5,900.21 and the BSE small Cap is up by 46.88 points to trade at 7,191.01.

At 12.30 pm, BSE Sensex was at 15,152.28 up by 78.73 points and the NSE Nifty was at 4,541.95 up by 24.40 points.

BSE Metal index surged by 190.12 points at 13,049.31 as Sterlite Industries (4.43%), Ispat Industries (3.64%), Tata Steel (2.15%) and JSW Steel (1.88%) are trading in green.

BSE Bankex index is trading higher by 81.11 points at 7,316.49. Gainers are HDFC Bank (2.56%), PNB (1.96%), AXIS Bank (1.49%) and SBI (0.43%).

BSE Realty index improved by 30.44 points to 5,573.11. The major gainers are Parsavnath (3.09%), omaxe Ltd. (2.69%), MahindraLife (2.28%) and DLF (0.92%).

BSE Auto index increased by 64.66 points to 3,984.30. The top gainers are Tata Motors (3.89%), Mauti Suzuki (2.85%), Mahindra & Mahindra (2.73%) and Ashok Leyland (1.38%).

BSE Oil & Gas index was trading 29.06 points higher at 10,216.75 as Gail India (2.76%), Cairn India (1.45%), Essar Oil (0.96%) and ONGC (0.61%) are trading in positive.

BSE IT index inclined by 35.23 points to trade at 3,958.90 as HCL Technologies (3.31%), Mphasis (3.07%), Satyam Computer (1.79%) and Tech Mahindra (1.38%) trading in positive.

BSE Power index decreased by 3.87 points to 2,695.16. Losers are Tata Power (1.26%), Neyvelli Lig (1.39%), GVK Power (0.25%).

BSE Capital goods index dropped by 18.76 points to 12,464.12. The main losers are BHEL (1.66%), Bharat Electrical (0.20%), L&T (0.19%) and Gammon India (0.11%).

Pre Session Market - Aug 07 , 2008

The Indian Market is expected to have negative opening as the Asian market are trading on the backfoot. The Indian markets on Wednesday took a sharp U turn in the final hours of the trading session to pare most of its initial gains on the back of heavy profit booking across the counters. After a strong start to the session backed by US Federal Reserve step to hold the key interest rates unchanged and a sharp fall in global crude oil prices gave a boost to the investors sentiments at the initial stage. However, the market did not hold up at the higher level and slipped to close with marginal gains. A steep fall in metal stocks pulled down the market in the last one hour. The metal sector index dropped by 405.64 points at 12,859.19. . NSE Nifty ended above 4,500 mark and BSE Sensex crossed 15,000 level. The NSE Nifty closed higher by 14.70 points at 4,517.55 and BSE Sensex closed up by 112.47 points at 15,073.54. The BSE Mid Caps closed with gains of 11.54 points at 5,855.42 and Small Cap ended down by 48.66 points 7,144.13. The BSE Sensex touched intraday high of 15,422.82 and intraday low of 15,035.60. We expect that market may drift down during the trading session as the cues from the Asian markets are not in favor and the inflation figures is scheduled today. So the investors will take calculative steps to book their positions.

On Wednesday the US market extends its gains to close in a positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 40.30 points at 11,656.07 along with NASDAQ closed up by 28.54 points at 2,378.37 and S&P 500 index closed at 1,289.19 up by 4.31 points.

Indian ADRs ended in green. In technology sector, Tata Communications grew by 3.80% followed by Wipro grew by 3.70%, Infosys by 2.75%, Satyam by 2.60%, Sterlite industries by 2.38%, Patni Computers by 1.28% and MTNL by 0.79%.

Today the major stock markets in Asia are trading lower as the government bonds grew on Thursday, as a sustained fall in oil prices could not shake a sense of gloom among investors about financial sector instability and the global growth outlook. Japan’s Nikkei is trading down by 161 points at 13,093.89 along with Strait Times index trading lower by 48.15 points at 2,838.63, Seoul Composite trading at 1,557.04 down by 21.67 points and Taiwan Weighted trading lower by 9.82 points at 7,016.42 while Hang Seng is trading higher by 122.21 points at 22,071.96.

The FIIs on Wednesday stood as net buyer both in equity and debt. The gross equity purchased was Rs4,530.10 Crore and the gross debt purchased was Rs19.00 Crore while the gross equity sold stood at Rs4,466.00 Crore and gross debt sold stood at Rs9.60 Crore. Therefore, the net investment of equity reported was Rs64.10 Crore and net debt was Rs9.60 Crore.

Crude oil futures for the month of August delivery closed lower by $0.59 at $118.37 per barrel on New York Mercantile Exchange. The crude prices dropped to an intraday low of $117.25. The crude prices finally managed to recover from day''s lows after traders digested the government''s weekly energy inventory data that reported a second weekly fall in gasoline supplies against an unexpected rise in crude inventories.

The Indian rupee inched closer to below 42-level by gaining 17 paise on August 6 to close at 42.07/08 against the greenback as the demand for the US currency from oil companies weakened amid a fall in crude prices in global markets and softening of dollar.In a volatile trade at the Interbank Foreign Exchange (Forex) market, the local currency resumed at 42.08/10 per dollar from Tuesday''s close of 42.24/25.

It rallied further to breach the 42-mark at 41.92 on the back of strong surge in Indian benchmark Sensex at early stages. The domestic unit however pared its early gains in line with the equity market to close at 42.07/08, still higher than overnight close by 17 paise.

Today, Nifty has support at 4,378 and resistance at 4,562 and BSE Sensex has support at 15,623 and resistance at 15,193.