Post Session Market - Sep 30, 2008

Domestic markets rebounded sharply from days low after sun outage session to end the day with handsome gains. The assuring comments from Finance Minster P Chidambaram that the Indian banking and financial system is well capitalized had provided some boost to the markets after sharp slide. Sentiments also got boosted on expectations that US administration will put forward a revised rescue package for the US financial sector. The BSE Sensex recovered nearly 700 points from days low to end above 12,800 level and the NSE Nifty above the 3900 mark. Markets opened on extremely negative note on weak global cues due to defeat of bailout package. Yesterday House of Representatives rejected the $700 billion bailout plan to save the US financial system. However, the markets suddenly managed to recover a bit but were still below dotted line till sun outage close.

Markets extended its gains further to conclude the day in green. From the sectoral front, most of the indices ended with gains and Bank index out performed the benchmark index as witnessed sharp rise of around 5%. Apart from that, smart pullback was led by Capital Goods, Oil & , Reality and Consumer Durables stocks. However, Metal and FMCG stocks remained out of favor as witnessed most of the selling from these baskets. The market breadth was negative as 1316 stocks closed in red while 1277 stocks closed in green and 79 stocks remained unchanged.

The BSE Sensex closed higher by 264.68 points at 12,860.43 and NSE Nifty ended up by 71.15 points at 3,921.20. The BSE Mid Caps and Small Caps closed with gains of 68.96 points at 4,798.29 and by 24.44 points at 5,577.47. The BSE Sensex touched intraday high of 12,995.20 and intraday low of 12,153.55.

Gainers from the BSE are ICICI Bank Ltd (8.42%), TCS Ltd (6.96%), HDFC (5.33)%, Bharti Airtel (5.14%), BHEL (5.07%), SBI (4.32%), L&T Ltd (4.16%), JP Associates (4.12%), Maruti Suzuki (3.73%), NTPC Ltd (3.31%) and HDFC Bank Ltd (2.46%).

The BSE Capital Goods index surged 310.53 points to close at 10,581.13. Major gainers are As Bharat Bijli (6.32%), Usha Martin (5.35%), BHEL (5.07%), Bharat Elect (4.65%), Punj Lloyd (4.53%) and L&T Ltd (4.16%).

The BSE Bank index advanced by 303.75 points to close at 6,478.15. As ICICI Bank Ltd (8.42%), Axis Bank (7.28%), Indus Ind Bank (4.52%), Bank of India (4.45%), SBI (4.32%) and IDBI Bank Ltd (4.27%) closed in positive territory.

The BSE Oil & Gas index ended up by 114.27 points at 9,039.28 as BPCL (5.59%), HPCL (5.39%), IOC Ltd (5.18%), Reliance Natural Resources (5.01%), Aban Offshore (3.10%) and Cairn India (1.24%) ended in positive territory.

The BSE Reality index closed higher by 100.90 points at 3,508.77. Gainers are Ansal Infra (11.63%), Akruti City (10.75%), Orbit Co (7.98%), Unitech Ltd (7.03%), Penland Ltd (3.43%) and Housing Dev (2.50%).

The Consumer Durables index gained 56.02 points to close at 2,929.18. As Titan Ind (3.10%), Gitanjali GE (2.83%), Blue Star L (2.06%) and Videocon Ind (0.69%) closed in positive territory.

The BSE Metal index plunged 152.17 points to close at 8,992.06. Major losers are Jai Corp Ltd (7.42%), JSW SL (4.94%), SAIL (4.87%), Hindustan Zinc (4.82%), Tata Steel (4.43%) and NMDC Ltd (2.19%).

Mid Session Market - Sep 30, 2008

The markets have managed to recover from the day’s low’s as the trading restarted after the sun outage session and are now trading higher as some buying emerged among the selective scrips mainly led by the Realty, Banking, IT and Capital Goods stocks. The BSE Sensex is trading above the 12700 mark and the NSE Nifty is trading near the 3900. The BSE Mid Cap and the BSE Small Cap stocks have also recovered a bit but are still trading lower.

The overall market breadth is negative as 566 stocks are advancing while 1721 stocks are declining and the 65 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 35.85 points at 4,693.48 and the BSE small Cap slipped by 106.12 points to trade at 5,446.91.

At 12.32 pm, BSE Sensex was at 12,767.97 up by 172.22 points and the NSE Nifty was at 3,886.90 up by 36.85 points.

BSE Bankex index is trading higher by 37.43 points at 6,212.53. Gainers are IDBI Bank (3.01%), AXIS Bank (2.46%), Indian Overseas Bank (1.31%) and SBI (0.98%).

BSE Auto index declined by 13.69 points to 3,610.55. Leading to its fall are Ashok Leyland (1.73%), Hero Honda (1.24%), Tata Motors (1.64%) and Maruti Suzuki (0.29%).

BSE Oil & Gas index is trading 14.79 points lower at 8,910.22 as Cairn India (3.12%), RNRL (3.15%), Essar Oil (2.11%) and RPL (1.26%) are trading in negative.

BSE Metal index dropped by 352.52 points at 8,791.71 as JSW Steel (6.36%), SAIL (5.91%), Tata Steel (5.58%), Sterlite Industries (4.68%) and Sesa Goa (1.55%) are trading in red.

BSE Capital goods index slipped by 113.81 points to 10,156.79. The main losers are Gammon India (4.21%), Havels India (3.18%), ABB (2.49%) and AIA Engineering (1.81%).

BSE IT index declined by 5.96 points to trade at 3,051.96 as Patni Computer (2.76%), Tech Mahindra (1.98%), HCL Technologies (0.51%) and Wipro (0.48%) trading in negative.

BSE Power index was trading 11.68 points lower at 2,213.40. The main losers are GVK Power (3.81%),.Suzlon Energy (3.16%), Tata Power (2.51%), Torent Power (1.88%).

BSE Realty index slipped by 44.25 points to 3,363.62. The major losers are Mahindra Life (1.60%), Penland (1.49%) while Unitech (5.19%), HDIL (3.70%) and Sobha Developers (3.18%)

Pre Session Market - Sep 30, 2008

Today the Market would open negative and nose-dive in deep red as the $700 billion rescue bail out was defeated in the House of Representatives. After the defeat of the bail out bill, the US market crashed hugely as investors had no confidence in the Wall Street. Most of the heavy stocks in the Wall Street have plummet since 1987. The weak sentiments of the investors further deteriorated as the three major European banks came out for a bail out help. On the other hand, Citigroup acquired the Wachovia banking operations for roughly $2 billion in deal facilitated by FDIC. To fund this acquisition the Citi group will raise $10 billion in a common stock offering and cut is dividend by 50%. In order to improve the strength of the Dollar Liquidity, the Fed has coordinated with nine central banks across the globe to more than double their swap authorization limits to $620 billion. Besides that the Fed is also increasing the size of its Term Auction Facilities.

On Monday, the bears have once again clawed down the market brutally by 595.75 points, recording a 52 week lowest mark. The Realty and Banking sectors were brutally thrashed by the bears. The market was mainly influenced by the meltdown in the European market where European financial giants like UK’s Bradford & Bingley Plc, Belgium’s Fortis Financial, and Germany’s Hypo Real Estate Holding AG drowned due to the US credit crisis. The investors are very concerned about the weakness and chronic financial crisis happening across the world. Companies like Bear Stearns, Fannie Mae, Freddie Mac, Lehman Bros, AIG, Washington Mutual, Fortis Financial, Bradford & Bingley have already declared themselves bankrupt seeking a bail out or bridge loan from their respective government. These incidents are just reinforcing the skepticism of investors’ sentiment about the strength of the global financial giants. In order to save the Fortis financial, the regulators in Belgium, the Netherlands and Luxembourg injected 11.2 billion euros ($16.3 billion) as a last resort. Every day a new financial company is added on the list of bail out firms, and who knows many more are yet to come on the list in near future. During the trading session we expect the market to trade in deep red amidst concerns in the US and the falling Asian Indices.

The BSE Sensex closed lower by 506.43 points at 12,595.75 and NSE Nifty ended down by 135.2 points at 3,850.05. The BSE Mid Caps and Small Caps closed with losses of 211.49 points and by 308.75 points at 4,729.33 and 5,553.03. The BSE Sensex touched intraday high of 13,113.53 and intraday low of 12,402.84.

On Monday, the US market crashed with huge selling pressure as the bail out plan was defeated in the US senate house. This negative sentiment ruined the market brutally and all the major indices plunged in deep red. Crude oil futures for the month of November delivery plunged $10.52 at $96.37 per barrel on New York Mercantile Exchange. The oil prices are further expected to come down as the demand for oil in future would fall due to the economic slowdown in US. Further the Euro lost some charm against dollar, thus strengthening the latter due to the bail out of three major European banks. The rising dollar also contributed in the fall of the oil prices to some extent.

The Dow Jones Industrial Average (DJIA) was down by 777.68 points at 10,365.45 along with NASDAQ index, which was low by 199.61 points at 1,983.73 and the S&P 500 (SPX) low by 106.59 points to close at 1,106.42 points.

Indian ADRs ended down. In technology sector, Satyam closed down by (17.50%) followed by Wipro by (13.37%), Infosys ended lower by (12.67%) and Patni Computers by (4.48%). In banking sector HDFC Bank and ICICI Bank lost (16.78%) and (12.47%). In telecommunication sector, Tata Communication and MTNL plunged (17.00%) and (8.03%). Sterlite Industries decreased by (12.28%).

Today the major stock markets in Asia opened in deep red territory on the back of negative cues from the US market as the $700 billion bail out plan was rejected in the House of Representatives. And further the European major banks calling out for a bridge loan started the negative sentiment since yesterday. Hang Seng index is trading down by 399.61 points at 17,481.07. Followed by, Japan''s Nikkei which was low by 430.63 points at 11,312.98 and Singapore''s Straits trading at 2,313.60 down by 47.74 points.

The FIIs on Monday stood as net seller in equity and debt. Gross equity purchased stood at Rs2712.20 Crore and gross debt purchased stood at Rs136.80 Crore while the gross equity sold stood at Rs3316.30 Crore and gross debt sold stood at Rs322.10 Crore. Therefore, the net investment of equity reported was (Rs604.10) Crore and net debt was (Rs185.20) Crore.

On Monday, the rupee dived to a 5 year low due to weak global cues and dollar demand from oil companies. The Oil marketing companies are paying nearly $8 billion per month to set off their monthly dues, hence creating huge demand for the green back. The Rupee closed at 46.95/96 per dollar, and touched an intraday high of 47.11, which was its lowest since June 2, 2003.

On BSE, total number of shares traded were 27.50 crores and total turnover stood at Rs4,594.16 crores. On NSE, total volumes of shares traded were 55.56 crores and total turnover was Rs13118.7 crores.

Top traded volumes on NSE Nifty – ICICI Bank with total volume of 21497419 shares followed by Unitech 14111766 shares, Suzlon Energy 12646388 shares, Reliance Petro 10751860 shares and ITC 8693592 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1033599 with a total turnover of Rs18822.07 crores. Along with this total number of contracts traded in stock futures were 912112 with a total turnover of Rs13457.5 crores. Total number of contract for index options was 1084398 and total turnover was Rs 22774.41 crores and total number of contracts for stock options was 51599 and notional turnover was Rs851.72 crores.

Today, Nifty would have a support at 3,651 and resistance at 3,825 and BSE Sensex has support at 12,010 and resistance at 12,525.

Post Session Market Sep 29, 2008

Domestic markets crashed today to trade deep into red and ended with sharp losses. Markets plunged to its lowest since April 2007 tracking the weak cues from the European markets. The ABN Amro takeover partner Fortis was rescued in a three-way Government bailout. The governments of Belgium, the Netherlands and Luxembourg launched an 11.2 billion euro ($16.4 billion) rescue for Fortis late Sunday. The three governments agreed to inject capital to buy 49% interests in Fortis-owned banking subsidiaries operating in each of their jurisdictions.

Along with this, Britain nationalized Bradford & Bingley on Monday, making the buy-to-let mortgage lender the second bank to be taken into public ownership this year as a deepening financial crisis. The Treasury would take over B&B''s mortgage portfolio 50 billion pounds ($92 billion) worth and sell its branches and deposits of 20 billion pound savings to Spanish bank Santander. The BSE Sensex had lost more than 3% and slipped below the 12500 mark. The NSE Nifty below the 3850 mark with loss of more than 3%. Markets opened on flat note and suddenly lost its ground due to the selling pressure across the board as weak Asian markets weighted on sentiment. Further, blood bath continued on the market and markets carried on its south journey after 45-minute stoppage on account of sun outage as the rescue bailout plan has not impressed the investors in the market. Finally markets ended with huge losses. From the sectoral front, all stocks ended in red and Bank index under performed the benchmark index as witnessed deep cut of more than 6%. Along with that, huge sell of was also witnessed in Capital Goods, Metal, IT, Oil & Gas, Consumer Durable and Reality stocks. The market breadth was extremely negative as 2287 stocks closed in red while 357 stocks closed in green and 41 stocks remained unchanged.

The BSE Sensex closed lower by 506.43 points at 12,595.75 and NSE Nifty ended down by 135.20 points at 3,850.05. The BSE Mid Caps and Small Caps closed with losses of 211.43 points at 4,729.33 and by 308.75 points at 5,553.03. The BSE Sensex touched intraday high of 13,113.53 and intraday low of 12,402.84.

Losers from the BSE are ICICI Bank Ltd (12.11%), JP Associates (11.85%), Satyam Computer (9.13%, TCS Ltd (8.40%), Tata Power (6.95%), Reliance Infra (6.56%), Reliance Com Ltd (6.11%), Ranbaxy Lab (6.08%), M&M Ltd (5.36%), DLF Ltd (5.12%) and L&T Ltd (4.98%).

Only gainer from BSE is HUL ended higher by (0.79%).

The BSE Capital Goods index lost 524.59 points to close at 10,270.60. Major losers are Usha Martin (12.31%), Suzlon Energy (12.19%), Bharat Bijli (9.90%), Walchand In (8.99%), Jyoti Struct (8.27%) and Reliance Industrial Infra (7.83%).

The BSE Bank index dropped by 395.44 points to close at 6,175.10. As ICICI Bank Ltd (12.11%), Karnataka Bank (9.61%), OBC (8.11%), IOC (6.48%), Yes Bank (6.42%) and Kotak Bank (4.97%) closed in negative territory.

The BSE Metal index plunged 357.86 points to close at 9,144.23. Major losers are JSW SL (11.67%), Jindal Saw (10.08%), Welspan Gujarat Sr (6.97), Hindustan Zinc (5.94%), NMDC Ltd (4.76%) and Jindal Steel (4.63%).

The BSE Reality index closed lower by 189.11 points at 3,407.87. Losers are Housing Development (13.72%), Sobha Dev (9.59%), Orbit Co (9.51%), Anant Raj (8.47%), Akruti City (8.42%) and Indiabull Real (7.73%).

The IT index lost 177.02 points to close at 3,057.92. As Aptech Ltd (13.11%), NIIT Ltd (10.62%), Moser Bayer (10.60%), Rolta India (10.04%), Satyam Computer (9.13%) and TCS Ltd (8.40%) closed in negative territory.

The BSE Consumer Durable index ended down by 172.96 points at 2,872.39 as Rajesh Export (11.42%), Blue Star L (11.24%), Videocon Ind (9.16%), Gitanjali GE (3.03%) and Titan Ind (1.43%) ended in negative territory.

Mid Session Market - Sep 29, 2008

The markets have plunged further as strong selling pressure across the board. The Realty, Banking, IT, Capital Goods and Metal are facing the most selling pressure. The BSE Sensex is trading below the 13700 mark and the NSE Nifty below the 3900 mark. The BSE Mid Cap and the BSE Small Cap stocks are also trading under huge pressure with a loss of more than 4% each. On the global front, the Asian are also trading sharply lower.

The overall market breadth is negative as 294 stocks are advancing while 1996 stocks are declining and the 45 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 208.09 points at 4,732.73 and the BSE small Cap slipped by 246.61 points to trade at 5,615.17.

At 12.32 pm, BSE Sensex was at 13,650.39 down by 451.79 points and the NSE Nifty was at 3,868.65 down by 116.60 points.

BSE Auto index declined by 84.24 points to 3,650.20. Leading to its fall are Tata Motors (6.21%), Maruti Suzuki (3.65%), Mahindra & Mahindra (2.23%) and Bajaj Auto (2.06%).

BSE Oil & Gas index is trading 98.31 points lower at 8,983.12 as RNRL (6.08%), ABN Offshore (4.28%), Essar Oil (3.74%) and Cairn India (2.99%) are trading in negative.

BSE Bankex index is trading lower by 359.38 points at 6,211.16. Losers are ICICI Bank (8.88%), Kotak Bank (6.16%), SBI (4.32%), and HDFC Bank (3.78%).

BSE Metal index dropped by 301.78 points at 9,200.31 as Jindal Saw (7.95%), JSW Steel (7.68%), Sterlite Industries (4.28%), Tata Steel (3.49%) and Ispat Industries (3.55%) are trading in red.

BSE Capital goods index slipped by 281.03 points to 10,514.16. The main losers are Gammon India (6.95%), AIA Engineering (4.83%), L&T (4.71%) and Praj Industries (4.42%).

BSE IT index declined by 114.65 points to trade at 3,120.29 as HCL Technologies (7.37%), Satyam Computer (4.81%), TCS (4.19%) and Infosys Technologies (3.23%) trading in negative.

BSE Power index was trading 50.44 points lower at 2,297.27. The main losers are Suzlon Energy (7.27%), Torent Power (5.04%), Reliance Power (4.58%) and GVK Power (4.81%).

BSE Realty index slipped by 247.02 points to 3,349.56. The major losers are HDIL (12.96%), India Bull Real (12.14%), Ansal Infra (10.29%), and Sobha Developers (9.35%)

Pre Session Market - Sep 29, 2008

The Market is expected to open positive as the N-Deal has been accepted by the US government with 2/3 majority and further the bilateral trade between US and India is expected to be positive in future. The Asian markets also opened positive on the back of the positive out look of the bail out to be finalized today. However later the Asian markets are trading moving mixed. The US Congress will today vote on a revised $700 billion rescue deal for Wall Street, after a weekend of negotiations produced a plan that Congressional leaders said has more stringent protections for the American taxpayer. The Treasury wouldn''t get all the $700 billion upfront. $350 billion would be immediately available. But the other $350 billion would be available unless Congress specifically holds.

On Friday, the market fell drastically amidst confusion on issues like N-Deal and US bail out. The stress between the Republican and the Democratic Party over the issue of bail out worth US$ 700 billion to bridge the financial crunch of Investment Banks kept the sentiments of market low across Asia. Further sentiments also dented by the failure of Washington Mutual Fund, which was acquired by JPMorgan Chase on Thursday. JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.''s banking operations after federal regulators seized the ailing thrift. Under the terms of the deal, J.P. Morgan acquired all of the deposits and assets of Washington Mutual and its subsidiary Washington Mutual FSB, valued at $307 billion in assets and $188 billion in deposits. All throughout the day the market kept diving into the red territory without any sign of recovery. The sectors that felt the extreme heat were realty, metal, bankex and CG. We expect that the market remain volatile during the trading session.

The BSE Sensex closed lower by 445 points at 13,102.18 and NSE Nifty ended down by 125.3 points at 3,985.25. The BSE Mid Caps and Small Caps closed with losses of 152.23 points and by 188.25 points at 4,940.82 and 5,861.78. The BSE Sensex touched intraday high of 13,486.20 and intraday low of 13,054.42.

On Friday, the US market remained mixed on the back of doubts about the bail out plan and the negative sentiments of Washington Mutual Fund. Crude oil futures for the month of November delivery closed lower by $1.13 at $106.89 per barrel on New York Mercantile Exchange. The crude prices ended lower due to ongoing supply concerns in the Gulf of Mexico region due to storm disruptions to energy production and refining.

The Dow Jones Industrial Average (DJIA) closed up by 121.07 points at 11,143.13 along with NASDAQ index closed lower by 3.23 points at 2,183.34 and the S&P 500 (SPX) gained 4.09 points to close at 1,213.27 points.

Indian ADRs ended down. In technology sector, Patni Computers closed down by (11.02%) followed by Wipro by (2.84%), Infosys closed lower by (1.84%) and Satyam by (1.22%). In banking sector ICICI Bank and HDFC Bank lost (9.11%) and (4.04%). In telecommunication sector, Tata Communication and MTNL plunged (10.11%) and (1.80%). Sterlite Industries decreased by (7.24%).

Today the major stock markets in Asia opended positive on the back of positive cues from the US government about the $700 billion bail out plant but however the bill would authorize $250 billion immediately, with another $100 billion upon presidential certification. A further $350 billion would also be available subject to congressional approval. Hang Seng index is trading down by 245.50 points at 18,436.59. Followed by, Japan''s Nikkei up by 54.49 points at 11,947.65 and Singapore''s Straits trading at 2,406.92 down by 54.49 points.

The FIIs on Friday stood as net seller in equity however in debt there was no trading. Gross equity purchased stood at Rs4214.50 Crore and gross debt purchased stood at Rs0 Crore while the gross equity sold stood at Rs4918.30 Crore and gross debt sold stood at Rs0 Crore. Therefore, the net investment of equity reported was (Rs703.80) Crore and net debt was Rs0Crore.

On Friday, The rupee decreased by 33 paise on Sept 26 against the greenback due to large-scale dollar demand from big corporate houses and oil importers. The currency opened at 46.15/16 and weakened to reach an intra-day low of 46.57/58. It ended at 46.54/55 against the previous close of 46.21/22. In the forward market, the 6-month premium closed lower at 1.19 per cent and the 12-month ended at 1.06 per cent.

On BSE, total number of shares traded were 25.19 crores and total turnover stood at Rs4850.22 crores. On NSE, total volumes of shares traded were 43.29 crores and total turnover was Rs10500.36 crores.

Top traded volumes on NSE Nifty – ICICI Bank with total volume of 11841157 shares followed by Suzlon Energy with 10981619 shares, SAIL 7735590 shares, Reliance Power 7377585 shares and Unitech 7136700 shares.

On NSE Future and Options, total number of contracts traded in index futures was 761453 with a total turnover of Rs14312.55 crores. Along with this total number of contracts traded in stock futures were 727640 with a total turnover of Rs11629.34 crores. Total number of contract for index options was 815607 and total turnover was Rs 17435.69 crores and total number of contracts for stock options was 50434 and notional turnover was Rs 919.56 crores.

Today, Nifty has support at 3,935 and resistance at 4,080 and BSE Sensex has support at 12,867 and resistance at 13,376.

Post Session Market - Sep 26, 2008

Domestic markets witnessed sharp cut during final trading hours to close in deep red as there are large differences between Democrats and Republicans in US about the Bush Administration''s $700 billion rescue plan for the financial sector. Sentiments also dented by the failure of Washington Mutual Fund, which was acquired by JPMorgan Chase yesterday. JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.''s banking operations after federal regulators seized the ailing thrift. Under the terms of the deal, J.P. Morgan acquired all of the deposits and assets of Washington Mutual and its subsidiary Washington Mutual FSB, valued at $307 billion in assets and $188 billion in deposits.

The markets opened on down beat note and continued to exhibit weakness on the bourses. Further, Markets extended its losses to more than 3% as selling pressure intensified across the counters. Finally, US bailout delay pulled the market in extremely negative territory. BSE Sensex ended around 13,100 level and NSE Nifty closed below 4,000 mark. From the sectoral front, Reality index under performed the bench mark index as witnessed deep cut of more than 6%. Along with that, huge sell of was also witnessed in Metal, Capital Goods, Bank, Oil & Gas, Capital Goods and IT stocks. However, FMCG stocks were in limelight as witnessed buying form its baskets. The market breadth was extremely negative as 2172 stocks closed in red while 442 stocks closed in green and 59 stocks remained unchanged.

The BSE Sensex closed lower by 445.00 points at 13,102.18 and NSE Nifty ended down by 125.30 points at 3,985.25. The BSE Mid Caps and Small Caps closed with losses of 152.23 points at 4,940.82 and by 188.25 points at 5,861.78. The BSE Sensex touched intraday high of 13,486.20 and intraday low of 13,054.42.

WPI based inflation rate for the week ended 13th September 2008, was remain unchanged at 12.14% at the same level recorded a week earlier. Inflation remains unchanged even as the Finance Ministry said prices of essential items like cereals, pulses, sugar and edible oils declined on weekly basis.

Losers from the BSE are Ranbaxy Lab (8.04%), Ranbaxy Lab (4.70%), Sterlite Indus (6.28), ICICI Bank Ltd (5.83%), Grasim Indus (5.72%), Hindalco (5.17%), M&M Ltd (5.06%), BHEL (5.03%), DLF Ltd (5.01%), Tata Steel (4.88%) and Reliance Com Ltd (4.83%).

The BSE Metal index plunged 475.01 points to close at 9,502.09. Major losers are Gujarat NRE C (9.66%), Jindal Steel (7.25%), Sterlite Indus (6.28), Steel Authority (5.84%), Hincalco (5.17%) and Ispat Indus (5.06%).

The BSE Capital Goods index lost 461.94 points to close at 10,795.19. Major losers are Praj Indus (7.16%), Punj Lloyd (6.86%), Reliance Industrial Infra (6.47%), Siemens Ltd (6.33%), Usha Martin (5.84%) and Walchand In (5.12%).

The BSE Bank index dropped by 292.93 points to close at 6,570.54. As Indian Overseas Bank (7.72%), IDBI Bank Ltd (6.11%), ICICI Bank Ltd (5.83%), Canara Bank (4.32%), HDFC Bank Ltd (4.05%) and Punjab national Bank (4.03%) closed in negative territory.

The BSE Oil & Gas index ended down by 282.58 points at 9,081.43 as Aban Offshore (9.63%), Reliance Natural Resources (5.25%), Essar Oil Ltd (3.82%), ONGC Ltd (3.37%), Cairn India (2.69%) and Reliance Petr (2.45%) ended in negative territory.

The BSE Reality index closed lower by 243.23 points at 3,596.98. Losers are Akruti City (16.74%), Housing Development (8.47%), Unitech Ltd (8.03%), Anant Raj (7.95%), Orbit Co (7.77%) and Ansal Infra (7.47%).

The FMCG index gained 20.79 points to close at 2,189.07. As REI Agro Ltd (5.00%), Colgate Palm (2.41%), Dabur India Ltd (2.30%), ITC Ltd (2.04%) and HUL (1.18%) closed in positive territory

Mid Session Market - Sep 26, 2008

The markets are still trading lower as selling pressure continued across the board. The Realty, Metal, Banking, Capital Goods, Power and Oil & Gas are facing the most selling pressure. The BSE Sensex is trading below the 13400 mark and the NSE Nifty below the 4050 mark. The BSE Mid Cap and the BSE Small Cap stocks are also trading lower with a loss of nearly 1% each. On the global front, the Asian are also trading sharply lower.

The overall market breadth is negative as 682 stocks are advancing while 1499 stocks are declining and the 75 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 51.70 points at 5,041.35 and the BSE small Cap slipped by 37.54 points to trade at 6,012.49.

At 12.35 pm, BSE Sensex was at 13,332.37 down by 214.81 points and the NSE Nifty was at 4,044 down by 66.55 points.

BSE Auto index declined by 47.83 points to 3,804.71. Leading to its fall are Tata Motors (2.59%), Mahindra & Mahindra (1.44%), Hero Honda (1.26%) and Maruti Suzuki (1%).

BSE Oil & Gas index is trading 123.30 points lower at 9,240.71 as Aban Offshore (3.39%), ONGC (3.37%), BPCL (1.79%) and RPL (1.06%) are trading in negative.

BSE Bankex index is trading lower by 144.58 points at 6,178.89. Losers are IDBI (4.05%), ICICI Bank (2.75%), HDFC Bank (2.41%), and SBI (1.57%).

BSE Metal index dropped by 196.52 points at 9,780.58 as NALCO (4.22%), SAIL (3.59%), Gujarat NRE (2.84%), Sterlite Industries (1.85%) and Tata Steel (1.82%) are trading in red.

BSE Capital goods index slipped by 217.55 points to 11,039.58. The main losers are Punj Lloyd (2.66%), BHEL (2.02%), Siemens (2.15%) and L&T (1.65%).

BSE IT index declined by 49.61 points to trade at 3,298.81 as HCL Technologies (3.54%), TCS (2.35%), Tech Mahindra (1.49%) and Infosys Technologies (1.25%) trading in negative.

BSE Power index was trading 32.91 points lower at 2,399.09. The main losers are Suzlon Energy (4.01%), Power Grid (1.55%), NTPC (1.26%) and GVK Power (1.19%).

BSE Realty index slipped by 123.95 points to 3,716.26. The major losers are India Bull Real (7.85%), HDIL (4.76%), Mahindra Life (3.11%), and Unitech (1.70%).

Pre Session Market - Sep 26, 2008

The Market is expected to have negative opening as Asian markets are trading lower along with negative news from the US markets about the failure of Washington Mutual Fund, which was acquired by JPMorgan Chase yesterday. JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.''s banking operations Thursday after federal regulators seized the ailing thrift. The deal will cost JPMorgan Chase $1.9 billion. Under the terms of the deal, J.P. Morgan acquired all of the deposits and assets of Washington Mutual and its subsidiary Washington Mutual FSB, valued at $307 billion in assets and $188 billion in deposits. Also, the talks about US governments’ financial sector bailout plan stalled in Washington.

On Thursday, the Indian markets closed in downbeat note on F&O expiry day for September. Markets also hit by concern over US governments’ $700 billion financial sector bailout plan. Domestic markets opened marginally higher but lost ground soon after start to trade below dotted line. Further, weakness continued to prevail over the markets on inflation worries. Though markets struggled to recover but profit booking led the markets to end the day in losses. BSE Sensex ended below 13,600 level and NSE Nifty closed below 4,150 mark. From the sectoral front, Metal, Reality, Oil & Gas, Capital Goods, IT and Pharma stocks contributed to most of the selling pressure. Mid Cap and Small Cap stocks also remained in bear grip. However, Auto stocks ended almost flat as witnessed some buying form its baskets. We expect that the market remain volatile during the trading session.

The BSE Sensex closed lower by 145.34 points at 13,547.18 and NSE Nifty ended down by 50.70 points at 4,110.55. The BSE Mid Caps and Small Caps closed with losses of 33.73 points at 5,093.05 and by 51.48 points at 6,050.03. The BSE Sensex touched intraday high of 13,716.88 and intraday low of 13,430.68.

Inflation for the week ended 13th September 2008, was remain unchanged at 12.14% at the same level recorded a week earlier. According to economists, inflation is stabilizing around this level before it starts to fall. Inflation remains unchanged even as the Finance Ministry said prices of essential items like cereals, pulses, sugar and edible oils declined on weekly basis.

September series of derivative contract expired on Thursday. The rollover was 62.56% in Nifty, which is lower than past three months average of 70.14%. In absolute terms also the rollover of 2.73 crore shares is much lower than the past three months average 3.21 crore shares.

On Thursday, the US market snapped a three day losing streak and closed in green as investors were confident of Congressional approval for bailout plan. Crude oil for November delivery raised $2.29 to $108.02 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed up by 196.89 points at 11,022.06 along with NASDAQ index closed higher by 30.89 points at 2,186.57 and the S&P 500 (SPX) gained 23.31 points to close at 1,209.18

Indian ADRs ended up. In technology sector, Wipro closed up by (5.39%) followed by Satyam by (3.20%), Infosys ended higher by (1.66%) and Patni Computers by (0.59%). In banking sector HDFC Bank gained (0.72%), while ICICI Bank lost (1.12%). In telecommunication sector, Tata Communication and MTNL surged (16.94%) and (4.96%). Sterlite Industries increased by (1.57%).

Today the major stock markets in Asia are trading lower despite gains on Wall Street overnight, over the uncertainty as there are deep divisions between Democrats and Republicans in US about the Bush Administration''s $700 billion rescue plan for the financial sector. Hang Seng index is trading down by 187.27 points at 18,747.16. Followed by, Taiwan Weighted dropped by 132.56 points at 5,928.27, Japan''s Nikkei slipped 23.19 points at 11,983.34 and Singapore''s Straits trading at 2,422.92 plunged 21.32 points.

The FIIs on Thursday stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs3,505.60 Crore and gross debt purchased stood at Rs258.60 Crore while the gross equity sold stood at Rs3,680.00 Crore and gross debt sold stood at Rs116.80 Crore. Therefore, the net investment of equity reported was (Rs174.40) Crore and net debt was Rs141.90 Crore.

The BSE and NSE trading will remain suspend between 11.25 IST and 12.10 IST due to the sun outage. The day’s session ended at 16.15 IST. The new trading timing is effective till 8 October 2008.

On Thursday, the partially convertible rupee closed to its lowest in a week as loss in stock market fueled concern for capital outflow and due to the two-day nationwide strike by bank unions. Indian rupee ended at 46.21/22 per dollar, 0.5% weaker than 45.95/96 at close on Wednesday. It fell to the low of 46.30 during the trade.

On BSE, total number of shares traded was 22.49 crores and total turnover stood at Rs5070.61 crores. On NSE, total volume of shares traded was 61.37 crores and total turnover was Rs 15311.01 crores.

Top traded volumes on NSE Nifty – Suzlon Energy with total volume traded 14417116, followed by NTPC with 12831889, Reliance Petro with 12829529, ICICI Bank with 12103191 and Reliance Power with 10740865.

On NSE Future and Options, total number of contracts traded in index futures was 1159748 with a total turnover for the same was Rs 22788.38 crores. Along with this total number of contracts traded in stock futures was 1686501 with a total turnover of Rs 27584.52 crores. Total number of contract for index options was 1467767 and total turnover was Rs 3119.09 crores and total number of contracts for stock options was 66583 and notional turnover was Rs 1205.7 crores.

Today, Nifty has support at 4,008 and resistance at 4,199 and BSE Sensex has support at 13,162 and resistance at 13,859.

Post Session Market - Sep 25, 2008

Domestic markets closed in red terrain on huge selling pressure over the ground due to F&O expiry day. Concern over US governments’ financial sector bailout plan also weighed on the sentiments as congressional hearings of the $ 700 billion bailout plan resumed. Markets opened on flat note but suddenly lost its momentum and slipped below to trade in the negative territory ahead of the F&O expiry for the month of September. Further, weakness continued to prevail over the markets on inflation worries as inflation number for the week ended 13th September 2008 due to released today after market hours. Though markets tried to recover but profit booking led the markets to end the day in losses. BSE Sensex ended below 13,600 level and NSE Nifty closed below 4,150 mark. From the sectoral front, most of the selling was visible in Metal, Reality, Oil & Gas, Capital Goods, IT and Pharma stocks. However, Auto stocks ended almost flat as witnessed some buying form its baskets. The market breadth was negative as 1688 stocks closed in red while 899 stocks closed in green and 78 stocks remained unchanged.

The BSE Sensex closed lower by 145.34 points at 13,547.18 and NSE Nifty ended down by 50.70 points at 4,110.55. The BSE Mid Caps and Small Caps closed with losses of 33.73 points at 5,093.05 and by 51.48 points at 6,050.03. The BSE Sensex touched intraday high of 13,716.88 and intraday low of 13,430.68.

Losers from the BSE are Wipro Ltd (4.81%), Ranbaxy Lab (4.70%), Hindalco (4.00), Grasim Indus (3.50%), TCS Ltd (3.26%), DLF Ltd (2.81%), ACC Ltd (2.65%), Bharti Airtel (2.44%), Tata Power (2.39%), ITC Ltd (2.31%) and Sterlite Indus (2.13%).

Gainers from the BSE are HDFC Bank Ltd (1.28%), ONGC Ltd (0.87%), L&T Ltd (0.59), Maruti Suzuki (0.38%), NTPC Ltd (0.36%), JP Associates (0.12%) and HUL (0.12%).

The BSE Metal index dropped by 165.19 points to close at 9,977.10. Major losers are Sesa Goa Ltd (5.54%), Nalco (5.34%), Gujarat NRE C (4.47), Hindalco (4.00%), Jindal Steel (2.81%) and Sterlite Indus (2.13%).

The BSE Capital Goods index lost 83.67 points to close at 11,257.13. Major losers are Suzlon Energy (7.17%), Siemens Ltd (5.91%), Havells India (3.43%), Praj Indus (2.54%), Lakshmi MA W (2.21%) and Kalpat Power T (2.14%).

The BSE Reality index closed lower by 76.77 points at 3,840.21. Losers are Indus Indiabull Real (5.17%), Akruti City (4.20%), Parsvnath (3.38%), Orbit Co (2.63%), Sobha Dev (2.45%) and Penland Ltd (2.31%).

The BSE Oil & Gas index ended down by 71.84 points at 9,364.01 as Cairn India (2.40%), Aban Offshore (2.21%), Gail India (2.07%), BPCL (1.87%), Reliance (1.10%) and HPCL (1.07%) ended in negative territory.

The BSE IT index dropped by 68.69 points to close at 3,348.42. As Aptech Ltd (5.50%), Oracle Fin (5.36%), Mphasis Ltd (5.22%), Wipro Ltd (4.81%), Moser Bayer (4.07%) and HCL Tech (3.67%) closed in negative territory.

The BSE Auto index gained marginally 3.67 points to close at 3,852.54. As MRF Ltd (2.55%), Ashol Leyland (2.11%), Escorts Ltd (1.98%), Amtek Auto L (1.57%), Bharat Forge (1.42%) and Tata Motors (1.03%) closed in positive territory.

Mid Session Market - Sep 25, 2008

The markets has lost further grounds and are trading in deep red as selling pressure continued among the selective scrips mainly led by the Power, Realty, IT, Banking, Metal and Oil & Gas stocks. However the FMCG and Pharma stocks are trading marginally higher. The BSE Sensex has slipped the 13500 mark and the NSE Nifty below the 4100 mark. The BSE Mid Cap and the BSE Small Cap stocks are also trading lower with a loss of more than 0.7% each.

The overall market breadth is negative as 718 stocks are advancing while 1460 stocks are declining and the 87 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 38.10 points at 5,088.68 and the BSE small Cap slipped by 45 points to trade at 6,056.51.

At 12.30 pm, BSE Sensex was at 13,461.87 down by 230.65 points and the NSE Nifty was at 4,095.15 down by 66.10 points.

BSE Auto index inclined by 5.89 points to 3,855.16. Leading to its gain are Hero Honda (2.38%), Mahindra & Mahindra (0.55%), Apollo Tyre (0.78%).

BSE Oil & Gas index is trading 110.67 points lower at 9,325.18 as ONGC (1.78%), RNRL (1.69%), GAIL India (1.33%) and Aban Offshore (1.18%) are trading in negative.

BSE Bankex index is trading lower by 107.12 points at 6,779.53. Losers are ICICI Bank (3.19%), SBI (2.68%), PNB (1.91%) and IDBI Bank (1.60%).

BSE Metal index dropped by 111.36 points at 10,030.93 as Sesa Goa (4.49%), Gujarat NRE (2.78%), Ispat Industries (2.46%), Sterlite Industries (2.18%) and Hindalco Industries (1.61%) are trading in red.

BSE Capital goods index slipped by 105.39 points to 11,235.41. The main losers are Siemens (3.85%), Praj Industries (2.54%), Alstom Project (1.98%) and BHEL (1.67%).

BSE IT index declined by 56.18 points to trade at 3,360.93 as Satyam Computer (3.58%), Wipro (2.68%), Infosys Technologies (1.95%) and TCS (1.75%) trading in negative.

BSE Power index was trading 45.95 points lower at 2,427.44. The main losers are Suzlon Energy (5.74%), Power Grid (4.77%), NTPC (3.28%) and GVK Power (3.47%).

BSE Realty index slipped by 67.92 points to 3,849.06. The major losers are India Bull Real (4.50%), Unitech (1.94%), Parsavnath (1.35%), Sobha Developers (1.29%)

Pre Session Market - Sep 25, 2008

The Market is expected to have negative opening as US markets closed mostly lower and Asian markets are trading mixed. On Wednesday, the Indian markets broke its two days losing streak and closed in green territory on short covering ahead of September F&O expiry. Crude oil also weighs on the sentiments. Domestic markets opened higher as US-India civilian nuclear cooperation agreement moved closer to approval by Congress on Tuesday. US Senate Foreign Relations Committee passed the Indo-US civilian nuclear deal with a majority of 19-2. With this approval, first step is cleared and it is to be approved by House of Representatives. Domestic markets continued to gain ground after US investor Warren Buffet announced for an infusion of $5 billion in Goldman Sachs Group. Though, markets pared some of its gains after mid session on inflation worries for the week ended 13th September 2008 but managed to gain further momentum and closed with gains. From the sectoral front, Metal index was best performer as reported a rise of more than 2%. Apart from that, Capital Goods, Oil & Gas and Bank stocks witnessed most of the buying. However, IT and Consumer Durable stocks witnessed most of the selling from these baskets. Mid cap and Small cap stocks also witnessed buying during the trading session. We expect that the market remain volatile during the trading session ahead of future and options expiry and inflation data due to be released today evening.

The BSE Sensex closed higher by 122.21 points at 13,692.52 and NSE Nifty ended up by 34.35 points at 4,161.25. The BSE Mid Caps and Small Caps closed with gains of 13.47 points at 5,126.78 and by 8.54 points at 6,101.51. The BSE Sensex touched intraday high of 13,840.81 and intraday low of 13,592.79.

On Wednesday, the US market closed mostly lower on concern about bailout as congressional hearings of the $ 700 billion bailout plan resumed. Somewhat offset this concern by Warren Buffett''s deal to buy a stake in Goldman Sachs Group. AIG dropped 15% after failed to secure private sector financing and will borrow $85 billion from US Fed. Further, resale of single family homes posted a lesser than expected decline of 2.2%. Crude oil for November delivery fell marginally to settle at $105.73 a barrel on the New York Mercantile Exchange after rising to high of $109.50.

The NASDAQ index closed up by 2.35 points at 2,155.68 while the Dow Jones Industrial Average (DJIA) closed lower by 29.00 points at 10,825.17 and the S&P 500 (SPX) dropped by 2.35 points to close at 1,185.87

Indian ADRs ended mixed. In technology sector, Patni Computers closed up by (6.00%) followed by Wipro by (1.32%), while Infosys closed down by (4.26%) and Satyam by (0.68%). In banking sector HDFC Bank and ICICI Bank gained (6.73%) and (3.23%). In telecommunication sector, Tata Communication and MTNL lost (2.92%) and (2.08%). However, Sterlite Industries increased by (3.55%).

Today the major stock markets in Asia are trading mixed. Hang Seng index is trading up by 144.66 points at 19,106.65. However, Japan''s Nikkei dropped by 103.72 points at 2,011.31, Singapore''s Straits slipped 22.36 points at 2,455.24 and Taiwan Weighted trading at 6,121.53 plunged 11.07 points.

The FIIs on Wednesday stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs1,895.80 Crore and gross debt purchased stood at Rs216.80 Crore while the gross equity sold stood at Rs2,763.50 Crore and gross debt sold stood at Rs151.90 Crore. Therefore, the net investment of equity reported was (Rs867.70) Crore and net debt was Rs64.90 Crore.

The BSE and NSE trading will remain suspend between 11.25 IST and 12.10 IST due to the sun outage. The day’s session ended at 16.15 IST. The new trading timing is effective till 8 October 2008.

On Wednesday, the partially convertible rupee ended at 45.95/96 per dollar, 0.5% weaker than 45.72/73 at close on Tuesday. It fell to 46.11 during the day. Indian rupee as banks bought the U.S. unit locally to sell at higher rates offshore, but suspected central bank intervention helped recover some of the losses.

On BSE, total number of shares traded was 21.09 crores and total turnover stood at Rs4319.28 crores. On NSE, total volume of shares traded was 43.16 crores and total turnover was Rs 11829.24 crores.

Top traded volumes on NSE Nifty – Idea Cellular with total volume traded 16568493, followed by NTPC with 9249684, Satyam Computer with 9078932, ICICI Bank with 9030078 and Sterlite Ind with 8806616.

On NSE Future and Options, total number of contracts traded in index futures was 1032365 with a total turnover for the same was Rs 20503.36 crores. Along with this total number of contracts traded in stock futures was 1353511 with a total turnover of Rs 21836.95 crores. Total number of contract for index options was 1117041 and total turnover was Rs 23763.36 crores and total number of contracts for stock options was 55000 and notional turnover was Rs 948.04 crores.

Today, Nifty has support at 4,087 and resistance at 4,247 and BSE Sensex has support at 13,416 and resistance at 14,004

Post Session Market - Sep 24, 2008

Domestic markets rebounded today after sharp fall on Tuesday to close with gains ahead of September F&O expiry on Thursday. Markets today opened on upbeat note as US-India civilian nuclear cooperation agreement moved closer to approval by Congress on Tuesday. US Senate Foreign Relations Committee passed the Indo-US civilian nuclear deal with a majority of 19-2. With this approval, first step is cleared and it is to be approved by House of Representatives. Drop in crude oil for November delivery by $2.76 to $106.61 on the New York Mercantile Exchange also added to positive sentiment. Further, markets continued its northward journey on the news of US investor Warren Buffet’s announcement of an infusion of $5 billion in Goldman Sachs Group. Though, markets trimmed some of its growth during second half of trading on inflation worries for the week ended 13th September 2008, but still ended on positive note. BSE Sensex ended above 13,650 level and NSE Nifty closed above 4,150 mark. From the sectoral front, Metal, Capital Goods, Oil & Gas and Bank stocks witnessed most of the buying. However, IT and Consumer Durable stocks witnessed most of the selling from these baskets. The market breadth was positive as 1349 stocks closed in green while 1241 stocks closed in red and 89 stocks remained unchanged.

The BSE Sensex closed higher by 122.21 points at 13,692.52 and NSE Nifty ended up by 34.35 points at 4,161.25. The BSE Mid Caps and Small Caps closed with gains of 13.47 points at 5,126.78 and by 8.54 points at 6,101.51. The BSE Sensex touched intraday high of 13,840.81 and intraday low of 13,592.79.

The markets were closed between 11.25AM to 12.10PM on account of disruption of satellite services due to sun outage. The new trading timing is effective from today (24th September 2008) to 8 October 2008. Trading will start as usual at 9.55 IST, but will end at 16.15 IST.

Gainers from the BSE are Sterlite In (8.36%), HDFC Bank Ltd (3.57%), Tata Steel (3.13), Reliance Infra (2.92%), Grasim Indus (2.35%), BHEL (2.29%), Bharti Airtel (2.03%), Reliance (1.89%), M&M Ltd (1.75%), DLF Ltd (1.43%) and SBI (1.05%).

The BSE Metal index surged 217.75 points to close at 10,142.29. Major gainers are Sterlite In (8.36%), Nalco (5.79%), Tata Steel (3.13), Jai Corp Ltd (1.73%), Welspan Guajrat Sr (1.60%) and Jindal Saw (1.53%).

The BSE Oil & Gas index ended up by 113.87 points at 9,435.85 as Cairn India (2.68%), Reliance (2.30%), IOC Ltd (1.78%), Reliance Natural Resources (1.20%), ONGC Ltd (0.65%) and BPCL (0.42%) ended in positive territory.

The BSE Capital Goods index gained 122.00 points to close at 11,340.80 Major gainers are Everest Kanto (6.78%), Usha Martin (6.08%), Jyoti Struct (4.58%), Crompton Greaves (4.10%), Praj Indus (4.08%) and BHEL (3.43%).

The BSE Bank index closed higher by 82.23 points at 6,886.65. Gainers are Indus Ind Bank (4.79%), Axis Bank (3.76%), HDFC Bank Ltd (3.57%), IDBI Bank Ltd (3.25%), Kotak Bank (1.56%) and Allahabad Bank (1.33%).

The BSE Consumer Durables index ended lower 39.51 points to close at 3,166.84. As Titan Ind (3.00%), Gitanjali GE (1.07%), Videocon Ind (0.50%) and Blue Star L (0.02%) closed in negative territory.

The BSE IT index dropped by 37.94 points to close at 3,417.11. As Wipro Ltd (5.05%), Oracle Fin (2.49%), NIIT Ltd (1.46%), Financ Tech (1.33%), Infosys Tech (1.27%), TCS Ltd (1.01%) and Mphasis Ltd (0.68%) closed in negative territory.

Mid Session Market - Sep 24, 2008

The markets after a sun outage session have restarted the trading session in a more upbeat note as the markets up further due to sustained buying among the selective scrips. The Realty, Banking, Metal, Capital Goods, Power and Oil & Gas stocks are in huge demand today. However the IT stocks are still under pressure. The BSE Sensex is now trading around the 13800 mark and the NSE Nifty above the 4200 mark.

The BSE Mid Cap and the BSE Small Cap stocks are also on the buyers’ radar as both are trading with a gain around 1% each.

The overall market breadth remains positive as 1369 stocks are advancing while 830 stocks are declining and the 87 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 52.17 points at 5,165.48 and the BSE small Cap advanced by 57.96 points to trade at 6,150.93.

At 12.30 pm, BSE Sensex was at 13,802.85 up by 232.54 points and the NSE Nifty was at 4,195.75 up by 68.85 points.

BSE Oil & Gas index is trading 119.45 points higher at 9,441.43 as RNRL (1.96%), BPCL (1.69%), Essar Oil (1.65%) and ONGC (1.43%) are trading in positive.

BSE Bankex index is trading higher by 187.42 points at 6,991.84. Gainers are Kotak Bank (4.99%), HDFC Bank (3.66%), ICICI Bank (3.32%) and AXIS Bank (2.82%).

BSE Realty index advanced by 115.03 points to 4,018.85. The major gainers are Ansal Infra (4.42%), India Bull Real (4.11%), DLF (3.76%), HDIL (3.39%).

BSE Metal index surged by 279.09 points at 10,203.03 as Sterlite Industries (10.98%), NALCO (4.82%), Jindal Saw (3.35%) and Tata Steel (1.82%) are trading in green.

BSE Capital goods index improved by 192.82 points to 11,411.62. The main gainers are BHEL (2.59%), Punj Lloyd (2.17%), Praj Industries (2.14%) and L&T (1.91%).

BSE IT index declined by 19.62 points to trade at 3,435.43 as Wipro (3.47%), Satyam Computer (2.13%), HCL Technologies (0.98%) and Infosys Technologies (0.22%) trading in negative.

BSE Power index was trading 36.20 points higher at 2,482.67. The main gainers are Torent Pharma (1.90%), Suzlon Energy (1.86%), Reliance Power (1.84%) and Power Grid (1.54%).

BSE Auto index inclined by 26.52 points to 3,875.98. Leading to its gain are Maruti Suzuki (1.42%), Mahindra & Mahindra (1.02%), Ashok Leyland (1.04%)

Pre Session Market - Sep 24, 2008

The Market is expected to have negative opening due to weak cues from the global markets as US markets closed in red and Asian markets are trading mixed. On Tuesday, the Indian markets closed deep into red on US bailout concerns as is an uncertainty on the details regarding the U.S. government’s $700 billion plan to fix the financial market turmoil and the two major Wall Street investment banks Goldman Sachs and Morgan Stanley, converted to a traditional banking structure. Crude oil also weighs on the sentiments. Domestic markets opened sharply lower and continued to trade on negative terrain on weak global cues. Though markets struggled to recover during early trade but were not able to maintain the strength and skid further. Finally markets ended with huge losses on profit booking over the counters. BSE Sensex ended below 13,600 level and NSE Nifty below 4,150 mark. From the sectoral front, all of the indices ended in red and among those, Bank, Capital Goods, Metal, Reality, IT and Oil & Gas stocks contributed to most of the selling pressure. Mid cap and Small cap stocks also crushed during the trading session as ended with loss of more than 2% and 1% respectively. We expect that the market remain volatile during the trading session.

The BSE Sensex closed lower by 424.65 points at 13,570.31 and NSE Nifty ended down by 96.15 points at 4,126.90. The BSE Mid Caps and Small Caps closed with losses of 107.65 points at 5,113.31 and by 101.14 points at 6,092.97. The BSE Sensex touched intraday high of 13,978.26 and intraday low of 13,543.67.

The BSE and NSE will extend their trading hours from today (24 September 2008) on account of disruption of satellite services due to sun outage. Trading will start as usual at 9.55 IST, but will be suspended between 11.25 IST and 12.10 IST. The day’s session will end at 16.15 IST. The new trading timing will be effective till 8 October 2008.

On Tuesday US Senate Foreign Relations Committee passed the Indo-US civilian nuclear deal with a majority of 19-2. With this first step is cleared and two steps are still pending as it is to be approved by House of Representatives.

On Tuesday, the US market closed lower due to nervousness about the proposed $700 billion bailout plan. There are concerns that congressional vote on proposed bailout may be delayed. However, crude oil for November delivery dropped $2.76 to settle at $106.61 on the New York Mercantile Exchange, after earlier touching the low of $104.05.

The Dow Jones Industrial Average (DJIA) closed down by 161.52 points at 10,854.17 followed by the NASDAQ index closed lower by 25.65 points at 2,153.33 and the S&P 500 (SPX) dropped by 18.87 points to close at 1,188.22.

Indian ADRs ended mixed. In technology sector, Satyam closed down by (6.38%) followed by Infosys by (4.76%), Patni Computers by (2.83%) and Wipro by (2.76%). In banking sector HDFC Bank and ICICI Bank gained (5.72%) and (0.78%). In telecommunication sector, MTNL and Tata Communication advanced by (5.37%) and (1.21%). Sterlite Industries plunged (0.80%).

Today the major stock markets in Asia are trading mixed. Hang Seng index is trading up by 295.73 points at 19,168.58 along with Singapore''s Straits rose 2.17 points at 2,478.68, while Japan''s Nikkei slipped 140.19 points at 11,950.40 and Taiwan Weighted trading at 6,146.11 plunged 36.10 points.

The FIIs on Tuesday stood as net buyer in equity and in debt. Gross equity purchased stood at Rs3,245.30 Crore and gross debt purchased stood at Rs232.50 Crore while the gross equity sold stood at Rs3,134.00 Crore and gross debt sold stood at Rs139.80 Crore. Therefore, the net investment of equity reported was Rs111.40 Crore and net debt was Rs92.60 Crore.

On Tuesday, the Indian rupee closed lower due to fall in local stocks and dollar demand from oil importers and arbitrageurs, to 45.73 per dollar against Monday''s close of 45.44/45. Earlier it opened at 45.36/37 and moved in a range of 45.36 and 45.70 in morning trade.

Today, Nifty has support at 4,043 and resistance at 4,215 and BSE Sensex has support at 13,276 and resistance at 13,882

Post Session Market - Sep 23, 2008

Indian Markets crushed during final hours of trading as huge selling pressure was witnessed across the board on weak global cues. There is an uncertainty on the details regarding the U.S. government’s $700 billion plan to fix the financial market turmoil and the two major Wall Street investment banks Goldman Sachs and Morgan Stanley, converted to a traditional banking structure. Crude oil prices also put fire into the markets as jumped by $16.37 to $120.92 a barrel after touching an intraday high of $130 a barrel, on the New York Mercantile Exchange. Indian markets today opened on downbeat note on the back of weak cues across the globe. Further, markets managed to recover some losses in early trade but were not able to sustain the momentum and slipped further.

Huge sell off on the back of profit booking forced markets to land in extremely negative territory. Weak European markets also contributed to the selling pressure. BSE Sensex ended below 13,600 level and NSE Nifty closed below 4,150 mark. From the sectoral front, all of the indices are ended with losses and among those, sharp cut was seen in Bank, Capital Goods, Metal, Reality, IT and Oil & Gas stocks. Mid cap and Small cap stocks also got hammered during the trading session as ended with cut of more than 2% and 1% respectively. The market breadth was negative as 1823 stocks closed in red while 760 stocks closed in green and 69 stocks remained unchanged.

The BSE Sensex closed lower by 424.65 points at 13,570.31 and NSE Nifty ended down by 96.15 points at 4,126.90. The BSE Mid Caps and Small Caps closed with losses of 107.65 points at 5,113.31 and by 101.14 points at 6,092.97. The BSE Sensex touched intraday high of 13,978.26 and intraday low of 13,543.67.

Losers from the BSE are Ranbaxy Lab (11.05%), DLF Ltd (6.25%), Satyam Computer (5.98%), TCS Ltd (5.91%), Wipro Ltd (5.77%), HDFC (5.53%), ICICI Bank Ltd (5.48%), JP Associates (5.38%), Infosys Tech (5.19%), Tata Motors (5.03%) and Tata Steel (4.62%).

The BSE Bank index closed lower by 297.87 points at 6,804.42. Losers are Canara Bank (5.53%), ICICI Bank Ltd (5.48%), HDFC Bank Ltd (4.52%), IDBI Bank Ltd (4.50%), SBI (4.08%) and Kotak Bank (3.79%).

The BSE Capital Goods index lost 258.29 points to close at 11,218.80. Major losers are Everest Kanto (6.78%), Usha Martin (6.08%), Jyoti Struct (4.58%), Crompton Greaves (4.10%), Praj Indus (4.08%) and BHEL (3.43%).

The BSE Metal index plunged 208.40 points to close at 9,924.54. Major losers are Tata Steel (4.62%), Jindal Steel (3.73%), JSW SL (3.63%), Ispat Indus (3.10%), Sterlite In (2.18%) and Welspan Guajrat Sr (2.14%).

The BSE Reality index ended lower 191.68 points to close at 3,903.82. As Indiabull Real (6.93%), DLF Ltd (6.25%), Housing Development (5.97%), Orbit Co (4.17%), Unitech Ltd (3.66%) and Parsvnath (3.24%) closed in negative territory.

The BSE IT index dropped by 184.38 points to close at 3,455.05. As Rolta India (9.61%), Moser Bayer (8.46%), Satyam Computer (5.98%), TCS Ltd (5.91%), Wipro Ltd (5.77%), NIIT Ltd (5.21%) and Infosys Tech (5.19%) closed in negative territory.

The BSE Oil & Gas index ended down by 76.67 points at 8,972.89 as Reliance Nat Res (2.52%), Reliance (1.35%), Aban Offshore (0.91%), Reliance Pet (0.72%), Gail India (0.66%) and Essar Oil Ltd (0.61%) ended in negative territory

Mid Session Market - Sep 23, 2008

The markets are reeling under pressure today on the back of continued selling pressure. The markets though managed to recover a bit in the early trade but could not able to sustain its momentum and once again slipped further as profit booking emerged at the higher level. All the sectorial indices are trading in red mainly led by the Realty, Banking, IT, Pharma, Capital Goods and Power stocks. However, the Oil & Gas stocks are facing some buying momentum. The BSE Sensex is now trading around the 13800 mark and the NSE Nifty below the 4200 mark.

The BSE Mid Cap and the BSE Small Cap stocks are also facing the selling pressure as both are trading with a cut of more than 1% each.

The overall market breadth remains negative as 739 stocks are advancing while 1539 stocks are declining and the 75 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 54.44 points at 5,166.52 and the BSE small Cap slipped by 56.53 points to trade at 6,137.58.

At 12.30 pm, BSE Sensex was at 13,817.57 down by 177.39 points and the NSE Nifty was at 4,187.05 down by 36 points.

BSE Oil & Gas index was trading 94.95 points higher at 9,493.60 as Cairn India (1.18%), ABN Offshore (0.62%), Gail India (0.60%) and RPL (0.13%) are trading in positive.

BSE Bankex index is trading lower by 160.28 points at 6,942.01. Losers are Bank of India (3.53%), SBI (3.04%), Bank of Baroda (2.64%) and PNB (2.29%).

BSE Realty index dropped by 131.79 points to 3,963.71. The major losers are DLF (5.68%), India Bull Real (4.93%), Unitech (3.81%) and HDIL (4.17%).

BSE Metal index slipped by 46.86 points at 10,086.08 as Jindal Steel (2.76%), Hindalco Industries (1.87%), Tata Steel (1.73%) and Ispat Industries (1.43%) are trading in red.

BSE Capital goods index dropped by 84.37 points to 11,392.72. The main losers are Crompton Greaves (3.13%), BHEL (2.01%), Praj Industries (1.35%) and Siemens (1.33%).

BSE IT index declined by 64.90 points to trade at 3,574.53 as Satyam Computer (4.46%), Wipro (3.70%), Infosys Technologies (2.31%) and Tech Mahindra (1.31%) trading in negative.

BSE Power index was trading 20.57 points lower at 2,468.16. The main losers are NTPC (1.13%), Torent Power (0.79%), Suzlon Energy (0.60%) and GVK Power (0.48%).

BSE Auto index declined by 23.62 points to 3,890.66. Leading to its fall are Tata Motors (2.23%), Bajaj Auto (1.88%), Ashok Leyland (1.02%)

Pre Session Market - Sep 23, 2008

The Market is expected to have negative opening due to weak cues from the global markets as US markets closed in red and Asian markets are trading weak along with rise in crude. On Monday, the Indian markets pared its initial gains to end the day in red zone as investors booked profits during the session on financial concern for global economy. Domestic markets ignored positive cues from Asian markets. Markets opened with gains on positive cues from US markets as US government had proposed a $700billion plan to handle world’s financial crises. The US Federal Reserve on Sunday announced that US investment banks Goldman Sachs and Morgan Stanley will become bank holding companies and will receive new US government credit. Further, market started losing after mid session to close almost flat. From the sectoral front, most of the indices closed with losses and among those Capital Goods, Oil & Gas, Auto and Power stocks were major contributors of selling pressure. However, Metal and FMCG stocks were in limelight as witnessed most of the buying from these baskets. We expect that the market may lose some ground during the trading session.

The BSE Sensex closed lower by 47.36 points at 13,994.96 and NSE Nifty fell by 10.9 points to close at 4,234.35. The BSE Mid Caps and Small Caps closed lower by 7.82 points and 21.88 points at 5,220.96 and 6,194.44. The BSE Sensex touched intraday high of 14,221.04 and intraday low of 13,917.48.

On Monday, the US market dropped after news that the two remaining major Wall Street investment banks Goldman Sachs and Morgan Stanley, converted to a traditional banking structure along with uncertainty on the details regarding the U.S. government’s $700 billion plan to fix the financial market turmoil. Crude oil prices also put fire into the markets as reported biggest one-day gain and jumped by $16.37 to $120.92 a barrel after touching an intraday high of $130 a barrel, on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed down by 372.75 points at 11,015.69 followed by the NASDAQ index closed lower by 94.92 points at 2,178.98 and the S&P 500 (SPX) dropped by 47.99 points to close at 1,207.09.

Indian ADRs ended with losses. In technology sector, Wipro closed down by (11.19%) followed by Patni Computers by (8.25%), Infosys by (4.05%) and Satyam by (3.59%). In banking sector ICICI Bank and HDFC Bank lost (7.32%) and (4.37%). In telecommunication sector, Tata Communication and MTNL dropped by (1.01%) and (0.73%). Sterlite Industries plunged (1.79%).

Today the major stock markets in Asia are trading weak. Japanese financial markets shut today on account of Autumnal Equinox Day, a national holiday. Hang Seng index is trading down by 429.51 points at 19,202.69 along with Taiwan Weighted trading at 6,097 plunged 12.72 points and Singapore''s Straits fell 47.78 points at 2,496.35.

The FIIs on Monday stood as net buyer in equity and in debt. Gross equity purchased stood at Rs6,826.80 Crore and gross debt purchased stood at Rs1432.00 Crore while the gross equity sold stood at Rs5,658.30 Crore and gross debt sold stood at Rs466.20 Crore. Therefore, the net investment of equity reported was Rs1,167.90 Crore and net debt was Rs905.80 Crore.

On Monday, the Indian rupee appreciated by 0.8% and ended at 45.44/45 per dollar than Friday’s close of 45.83. Earlier it hit a high of 45.22/23 in early trade. The Indian currency climbed to the highest in more than a week after the U.S. Treasury proposed buying as much as $700 billion in financial assets to clean up banks'' balance sheets

Today, Nifty has support at 4,106 and resistance at 4,310 and BSE Sensex has support at 13,489 and resistance at 14,284

Post Session Market - Sep 22, 2008

The Indian markets closed the choppy session on a negative note after a firm starts to the session. The profit booking took a lead during the session that led the investors to take calculative approach to book their positions. The domestic market opened with a bang tracking the US government’s $700bn proposed plan to deal with the World’s financial crisis, which would rescue banks from billions of dollars debts. As per this proposal, the federal government would buy up as much as $700bn of mortgage assets. The US Federal Reserve on Sunday announced that US investment banks Goldman Sachs and Morgan Stanley will become bank holding companies and will receive new US government credit. From the sectoral front, Capital Goods index faced heavy selling pressures across the counters to close with losses of more than 2%. On the other hand most buying was witnessed from the Metal and FMCG baskets. The market breadth was negative as 1354 stocks closed in red while 1234 stocks closed in green and 78 stocks remained unchanged.

The BSE Sensex closed lower by 47.36 points at 13,994.96 and NSE Nifty fell by 10.9 points to close at 4,234.35. The BSE Mid Caps and Small Caps closed lower by 7.82 points and 21.88 points at 5,220.96 and 6,194.44. The BSE Sensex touched intraday high of 14,221.04 and intraday low of 13,917.48.

Losers from the BSE are Suzlon Energy 6.78%, Punj Lloyd 5.62%, Bombay Dying 5.55%, BOB 5.20%, Lano Infra 4.94%, India Infoline 4.76%, Satyam Computers 4.69%, Oracle Fin 4.24%.

Gainers from the BSE are GMDC 14.08%, Sesa Goa 13.11%, Sintex Inds 10.62%, Gujarat NRE Coke 7.23%, Phoenix Mill 6.53%, Gujarat Petronet 5.47%, NMDC 5% and Colgate Palmolive 4.67%.

The BSE Oil & Gas index ended lower by 69.77 points at 9,398.65 as Indian Oil (3.65%), BPCL (2.59%), ABN Offshore (2.34%), HPCL (1.83%), ONGC (1.35%) and Gail India (0.18%) ended in negative territory.

The BSE Capital Goods index closed down by 262.98 points at 11,477.09 Losers are Punj Lloyd (5.62%), Gammon India (3.72%), AIA Engineering (3.52%), Siemens (3.37%), L&T (2.60%) and Elecon Engineering (2.08%).

The BSE Metal index advanced 99.35 points to close at 10,132.94. Major gainers are Sesa Goa (13.11%), Gujarat NRE (7.23%), NMDC (5%), Tata Steel (2.95%), Jindal Steel (1.84%),and JSEW Steel (0.19%).

The BSE Bank index closed lower by 7.59 points at 7,102.29. Losers are Bank of Baroda (5.20%), Indus Ind Bank (3.91%), Yes Bank (3.06%), Indian Overseas Bank (2.81%), Canara Bank (2.69%) and Kotak Bank (1.73%).

The BSE Reality index slipped by 7.14 points to close at 4,095.50. As Sobha Developres (6.17%), Ansal Infra (5.73%), Mahindralife 4.94%, Omaxe 3.21%, Orbitco 1.72%, Parsvnath 1.30%

Mid Session Market - Sep 22, 2008

The markets are facing a little bit of volatility today and are struggling to move in the upward direction. The selling pressure continued among the selective scrips mainly led by the IT, Power, Auto and Capital Goods stocks. However the Metal, FMCG and Realty are managed to trade higher. The BSE Sensex is now trading around the 14000 mark and the NSE Nifty near the 4200 mark.

The BSE Mid Cap and the BSE Small Cap stocks are however in the buyer’s radar as both are trading with in green.

The overall market breadth remains positive as 1313 stocks are advancing while 1098 stocks are declining and the 75 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 16.78 points at 5,245.56 and the BSE small Cap advanced by 20.03 points to trade at 6,236.02.

The BSE Sensex was at 14,019.32 down by 23 points and the NSE Nifty was at 4,222.25 down by 23 points.

BSE Metal index surged by 196.01 points at 10,229.60 as Gujarat NRE (9.28%), Sesa Goa (8.30%), Tata Steel (3.19%) and Jindal Steel (3.16%) are trading in green.

BSE Capital goods index increased by 9.78 points to 11,749.85. The main gainers are Havells India (3.24%), BEML (2.33%), Gammon India (2.30%) and Praj Industries (2.06%).

BSE IT index declined by 18.89 points to trade at 3,647.86 as Satyam Computer (3.84%), Mphasis (2.74%), Wipro (1.52%) and Infosys Technologies (0.57%) trading in negative.

BSE Realty index improved by 66.06 points to 4,168.70. The major gainers are India Bull (1.92%), HDIL (1.32%), DLF (1.24%) and Penland (1.49%).

BSE Oil & Gas index was trading 60.46 points higher at 9,528.88 as RPL (2.35%), RNRL (2.45%), Essar Oil (1.34%), and Cairn India (0.25%) are trading in positive.

BSE Bankex index is trading higher by 34.29 points at 7,144.17. Gainers are Bank of India (1.48%), Allahabad Bank (1.88%), Kotak bank (0.20%) and ICICI Bank (0.14%)

Pre Session Market - Sep 22, 2008

The Indian Market is expected to have positive opening due to favoring cues from the global markets. On Friday, the Indian markets took a big leap and rallied throughout the trading session on the back of US treasury department step to come out with a plan to create a Resolution Trust-like operation to calm the economic turmoil and the financial crisis. This gave a boost to the sentiments of the investors across the globe that led to sustained buying across then sectoral indices. BSE Sensex returned back to the 14,000 level and NSE Nifty crossed 4,200 mark. The bulls become more powerful during final hours of trading as markets closed with gains of more than 5%. From the sectoral front, all indices ended with gains and among those reality stocks outperformed the benchmark index as closed with gain of more than 7%. Along with that, Oil & Gas, Capital Goods, Bank, Metal and IT stocks witnessed healthy buying from these baskets. We expect that the market may extend its gains during the trading session.

The BSE Sensex closed higher by 726.72 points at 14,042.32 and NSE Nifty ended up by 207.10 points at 4,245.25. The BSE Mid Caps and Small Caps closed with gains of 149.65 points at 5,228.78 and by 140.56 points at 6,215.99. The BSE Sensex touched intraday high of 14,097.44 and intraday low of 13,674.96.

On Friday, the US market surged to close with handsome gains on the back of on news of the rescue plan, capping one of the most tumultuous weeks in history for global financial markets and also the move by US Treasury to ask Congress for authority to spend 700 bn dollars to buy mortgage related assets from financial institutions. The US Federal Reserve on Sunday announced that US investment banks Goldman Sachs and Morgan Stanley will become bank holding companies and will receive new US government credit.

The Dow Jones Industrial Average (DJIA) closed up by 368.75 points at 11,388.44 followed by the NASDAQ index closed higher by 74.80 points at 2,273.90 and the S&P 500 (SPX) grew by 48.57 points to close at 1,255.08.

Indian ADRs ended with handsome gains. In technology sector, Satyam closed up by (13.04%) followed by Wipro by (11.18%), Infosys by (10.25%) and Patni Computers by 4.82%. In banking sector ICICI Bank and HDFC Bank grew by (7.61%) and (5.96%). In telecommunication sector, Tata Communication advanced by (0.24%). Sterlite industries advanced by (4.77%).

Today the major stock markets in Asia are trading higher. Hang Seng index is trading up by 15 points at 19,343 along with Japan’s Nikkei trading up by 236 points at 12,157, Taiwan Weighted trading at 6,070 up by 100 points. Singapore''''s Straits up by 4 points at 2,555.

The FIIs on Friday stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs7,146.70 Crore and gross debt purchased stood at Rs66.40 Crore while the gross equity sold stood at Rs7,745.40 Crore and gross debt sold stood at Rs10 Crore. Therefore, the net investment of equity reported was (Rs598.70) Crore and net debt was Rs56.40 Crore.

On Friday, the Indian rupee appreciated by 58 paise and reached the 46 level on positive sentiments as the domestic stock market surged. The rupee opened stronger at 46.25 as the domestic equities market and those in South East Asia opened higher. The rupee then gained following the soar in the equities to touch the day''s high of 45.75. It closed at 45.83, against the previous close of 46.41/42. In the forward premia market, the six-month closed at 1.38 per cent and the 12-month ended at 1.15 per cent.

Today, Nifty has support at 4,131 and resistance at 4,362 and BSE Sensex has support at 13,623 and resistance at 14,493

Post Session Market - Sep 19, 2008

Domestic markets rallied sharply on the back of strong supportive cues from the global markets as the US treasury has come out with a plan to create a Resolution Trust-like operation to calm the economic turmoil and the financial crisis. This led to sustained buying across the board. The major Asian markets out performed during the trade and the strong European markets also added to the positive sentiments. BSE Sensex returned back to the 14,000 level and NSE Nifty crossed 4,200 mark. Indian markets today opened on optimistic note tracking strong global cues and kept on marching forward till the closing bell. Further, markets extended their gains and continued to trade sharply higher on strong buying over the counters. Finally, bulls become more powerful during final hours of trading as markets closed with gains of more than 5%. From the sectoral front, all indices ended with gains and among those reality stocks outperformed the benchmark index as closed with gain of more than 7%. Along with that, Oil & Gas, Capital Goods, Bank, Metal and IT stocks witnessed healthy buying from these baskets. The market breadth was positive as 1888 stocks closed in green while 740 stocks closed in red and 72 stocks remained unchanged.

Inflation rose marginally to 12.14% for the week ended 6th September 2008, as against 12.1% recorded a week earlier on account of the rise in primary and food articles. Primary articles were up by 1%, food articles rose 1.4% and non-food articles 0.2 %. The annual inflation rate was 3.46% during the corresponding week of the previous year.

The BSE Sensex closed higher by 726.72 points at 14,042.32 and NSE Nifty ended up by 207.10 points at 4,245.25. The BSE Mid Caps and Small Caps closed with gains of 149.65 points at 5,228.78 and by 140.56 points at 6,215.99. The BSE Sensex touched intraday high of 14,097.44 and intraday low of 13,674.96.

Gainers from the BSE are Satyam Comp (10.48%), Ranbaxy Lab (6.60%), ICICI Bank Ltd (9.07%), HDFC (8.32%), Tata Power (8.30%), DLF Ltd (7.78%), ONGC Ltd (7.30%), Infosys Tech (6.59%), TCS Ltd (6.37%), HDFC Bank Ltd (6.32%) and BHEL (6.31%).

The BSE Oil & Gas index ended higher by 495.53 points at 9,468.42 as ONGC Ltd (7.30%), Cairn India (6.86%), Reliance (6.16%), Essar Oil Ltd (4.55%), Gail India (4.44%) and Reliance Natural Resources (3.50%) ended in positive territory.

The BSE Capital Goods index closed up by 491.57 points at 11,740.07 Gainers are Usha Martin (7.88%), Punj Lloyd (6.92%), Walchand In (6.92%), BHEL (6.32%), Crompton Greaves (5.93%) and Thermax Ltd (5.55%).

The BSE Metal index surged 343.54 points to close at 10,033.59. Major gainers are %), Gujarat NRE C (7.70%), Steel Authority (7.05%), Jindal Steel (6.89%), Sesa Goa Ltd (5.26%), NMDC Ltd (4.98%) and Nalco (4.67%).

The BSE Bank index closed higher by 340.25 points at 7,109.08. Gainers are ICICI Bank Ltd (9.07%), Kotak Bank (8.48%), Canara Bank (6.55%), HDFC Bank Ltd (6.32%), Federal Bank (5.55%) and Indus Ind Bank (5.43%).

The BSE Reality index advanced by 289.53 points to close at 4,102.64. As Ansal Infra (18.36%), Indiabull Real (17.00%), Akruti City (11.52%), Housing Dev (8.13%), Penland Ltd (5.65%) and Mahindra Life (5.60%) closed in positive territory.

The BSE IT index gained 229.35 points to close at 3,666.75. As Satyam Comp (10.48%), HCL Tech (8.15%), Infosys Tech (6.59%), TCS Ltd (6.37%), Oracle Fin (6.36%) and Tech Mahindra (5.74%) closed in positive territory

Mid Session Market - Sep 19, 2008

The markets have maintained its opening gains and are trading higher as strong buying continued across the board mainly led by the Realty, IT, Banking, Power, Capital Goods, Oil & Gas and Metal stocks. The US government plan to plan to create a Resolution Trust-like operation in order to calm the economic turmoil and the financial crisis has bolstered the markets today.

The BSE Mid Cap and the BSE Small Cap stocks are also in the buyer’s radar as both are trading with a gain of more than 2% each. The BSE Sensex is now trading around the 13850 mark and the NSE Nifty near the 4200 mark.

The overall market breadth remains positive as 1742 stocks are advancing while 624 stocks are declining and the 67 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 127.84 points at 5,206.97 and the BSE small Cap advanced by 129.90 points to trade at 6,205.33.

At 12.30 pm, BSE Sensex was at 13,843.36 up by 527.76 points and the NSE Nifty was at 4,184.40 up by 146.25 points.

BSE Metal index advanced by 192.23 points at 9,882.28 as Gujarat NRE (5.57%), NALCO (4.78%), Jindal Steel (3.97%) and Ispat Industries (2.68%) are trading in green.

BSE Capital goods index surged by 324.86 points to 11,573.36. The main gainers are BHEL (3.43%), Gammon India (3.12%), L&T (2.31%) and Praj Industries (2.15%).

BSE IT index inclined by 172.07 points to trade at 3,609.47 as HCL Technologies (6.45%), Satyam Computer (6.42%), Infosys Technologies (4.88%) and Tech Mahindra (4.66%) trading in positive.

BSE Realty index improved by 185.99 points to 3,999.10. The major gainers are India Bull (11.36%), HDIL (5.28%), Mahindra Life (5.75%) and DLF (5.01%).

BSE Oil & Gas index was trading 204.94 points higher at 9,177.83 as Cairn India (4.59%), RNRL (4.02%), ONGC (3.87%), RPL (1.98%) and Essar Oil (1.78%) are trading in positive.

BSE Bankex index is trading higher by 189.10 points at 6,958.73. Gainers are Kotak Bank (6.39%), IDBI Bank (4.43%), HDFC Bank (5.16%) and AXIS Bank (3.45%).

BSE Auto index increased by 36.11 points to 3,942.18. The top gainers are Maruti Suzuki (4.11%), Ashok Leyland (3.08%), Tata Motors (2.34%) and Mahindra & Mahindra (0.60%).

BSE Power index inclined by 74.69 points to 2,480.27. Gainers are Tata Power (5.47%), Torent Power (4.59%), Power Grid (3.59%) and Reliance Power (3.75%)

Pre Session Market - Sep 19, 2008

The Indian Market is expected to have positive opening as US markets closed in green and Asian markets are trading higher. On Thursday, Indian markets broke its seven days losing streak to recover smartly from the dip fall and close in green terrain. Markets bounced back on Finance Minister’s statement about India’s financial health. Recovery in Asian markets also lifted up the sentiments as china relaxed policies for second time in the week and Japan, Australia and India, pumped $28 billion money into the markets. Domestic markets opened on down beat note and crashed since initial bell on weak global cues. Further markets continued to lose ground on another bloody day. Markets took U turn after mid session and recovered to end with gains. From the sectoral front, Oil & Gas, Bank, Capital Goods, and Auto stocks were leaders of the day as witnessed most of the buying from these baskets. However, Reality, Consumer Durables, Metal and IT stocks remained out of favor. Mid cap and Small cap stocks were also losers as lost more than 1% and 2% respectively.

The BSE Sensex ended higher by 52.70 points at 13,315.60 and NSE Nifty ended up by 29.90 points at 4,038.15. However, the BSE Mid Caps and Small Caps closed with losses of 60.50 points at 5,079.13 and by 139.32 points at 6,075.43. We expect that market may gain some ground during the trading session.

Inflation rose marginally to 12.14% for 6th September 2008, as against 12.1% recorded a week earlier on account of the rise in primary and food articles. Primary articles were up by 1%, food articles rose 1.4% and non-food articles 0.2 %. The annual inflation rate was 3.46% during the corresponding week of the previous year.

According to the Finance minister of India, the PSU banks have no exposure to US financial crisis. He said that there is no cause for alarm for the Indian financial institutions and banks that are largely insulated from the crisis that gripped the financial system of US. Indian operations of US based AIG and commercial banks in the country are in sound health. There is no reason and need to worry as AIG''s life and non-life insurance businesses in India are in 26:74 ratio with the Tata.

On Thursday, the US market rallied on hopes of a fix from Fed as government is considering a permanent solution to the credit crisis. Along with that world’s top central banks poured billion dollars into the global market to help banks in trouble. Crude oil for October delivery added 72 cents to settle at $97.88 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed higher by 410.03 points to close at 11,019.69 followed by the NASDAQ index ended up by 100.25 points at 2,199.10 and the S&P 500 (SPX) gained 50.12 points to close at 1,206.51.

Indian ADRs ended up. In technology sector, Wipro ended higher by (7.52%) followed by Patni Computers advanced by (2.28%), Infosys gained (1.66%) and Satyam went up by (1.53%). In banking sector ICICI Bank and HDFC Bank gained (11.77%) and (11.21%). In telecommunication sector, MTNL and Tata Communication advanced by (15.19%) and (9.63%). Sterlite industries increased by (9.53%).

Today the major stock markets in Asia are trading higher. Hang Seng index is trading up by 1081.39 points at 18,713.85 along with Japan’s Nikkei higher by 378.90 points at 11,868.20, Taiwan Weighted gained 304.58 points at 5,946.53 and Singapore''s Straits surged 97.10 points at 2,516.31.

The FIIs on Thursday stood as net seller in equity and in debt. Gross equity purchased stood at Rs3,762.00 Crore and gross debt purchased stood at (Rs8,712.70) Crore while the gross equity sold stood at Rs5,095.50 Crore and gross debt sold stood at Rs629.20 Crore. Therefore, the net investment of equity reported was (Rs1,333.50) Crore and net debt was (Rs9,341.90) Crore.

On Thursday India''s rupee dropped on concern of global stocks disorder and Morgan Stanley’s talks on possible merger with Chinese bank CITIC. The rupee closed at 46.42/43 per dollar, 0.2% weaker than 46.34/35 at close on Wednesday.

To protect the depreciating currencies, Asian authorities are discharging money into the markets. Along with that China relaxed its policies for second time this week and Japan, Australia and India pumped a further $28 billion into money markets. Bank of Japan injected an additional $14.35 billion into the short-term money market to provide liquidity. Australian Central Bank added A$23.92 billion, bringing its injection this week to A$11.2 billion. In India, the central bank supplied $1.35 billion to banks. China central bank allowed yields on its three-month bills to drop 4 basis points to at an auction after keeping the rate steady for six month.

Today, Nifty has support at 3,976 and resistance at 4,254 and BSE Sensex has support at 13,038 and resistance at 13,984

Post Session Market - Sep 18, 2008

Indian markets bounced back after the mid sessions to recover smartly from the dip fall on the back of Finance Minister’s strong statement about India’s financial health led to sustained buying across the sectors. Also the bounce back in Asian markets from days low on relaxation in policies in China for second time this week and along with further pump of $28 billion money into the markets by Japan, Australia and India, also added to positive sentiment. Indian markets today opened on extremely negative note on the back of financial crises across the globe. US red ink led bloody session on market. Further, markets continued to crash as heavyweights took huge beating of the bourses. Finally, markets started recovering in last hours of trading to close with gains. BSE Sensex ended above 13,300 level and NSE Nifty closed above 4,000 mark. From the sectoral front, Oil & Gas, Bank, Capital Goods, and Auto stocks were in limelight as witnessed most of the buying from these baskets. However, Reality, Consumer Durables, Metal and IT stocks remained out of favor as witnessed selling pressure. Mid cap and Small cap stocks also suffered due to negative sentiment as ended with cut of more than 1% and 2% respectively. The market breadth was negative as 1977 stocks closed in red while 676 stocks closed in green and 70 stocks remained unchanged.

According to the Finance minister of India, Indian operations of US based AIG and commercial banks in the country are in sound health. There is no need to worry as AIG''s life and non-life insurance businesses in India are in 26:74 ratio with the Tata.

To protect the depreciating currencies, Asian authorities are discharging money into the markets. Along with that China relaxed its policies for second time this week and Japan, Australia and India pumped a further $28 billion into money markets. Bank of Japan injected an additional $14.35 billion into the short-term money market to provide liquidity. Australian Central Bank added A$23.92 billion, bringing its injection this week to A$11.2 billion. In India, the central bank supplied $1.35 billion to banks. China central bank allowed yields on its three-month bills to drop 4 basis points to at an auction after keeping the rate steady for six month.

The BSE Sensex closed higher by 52.70 points at 13,305.60 and NSE Nifty ended up by 29.90 points at 4,035.70. However, the BSE Mid Caps and Small Caps closed with losses of 60.50 points at 5,079.13 and by 139.32 points at 6,075.43. The BSE Sensex touched intraday high of 13,346.79 and intraday low of 12,558.14.

Gainers from the BSE are Sterlite In (3.46%), HDFC Bank Ltd (3.17%), Reliance (3.16%), NTPC Ltd (3.05%), ICICI Bank Ltd (2.78%), Maruti Suzuki (2.70%), M&M Ltd (2.46%), Reliance Infra (2.43%), TCS Ltd (2.77%), SBI (2.14%) and ONGC (2.02%).

The BSE Oil & Gas index ended up by 206.65 points at 8,972.89 as BPCL (3.24%), Reliance (3.16%), Aban Offshore (3.03%), ONGC Ltd (2.02%), Essar Oil Ltd (1.99%) and HPCL (1.99%) ended in positive territory.

The BSE Bank index closed higher by 176.67 points at 6,769.63. Gainers are IOC (7.49%), Bank of Baroda (5.80%), Kotak Bank (4.72%), PNB (4.38%), OBC (3.18%) and HDFC Bank Ltd (3.17%).

The BSE Capital Goods index gained 105.59 points to close at 11,248.50 Major gainers are Suzlon Energy (6.54%), Siemens Ltd (2.64%), Punj Lloyd (2.59%), Aiaengineer (1.98%), ABB Ltd (1.63%) and L&T Ltd (1.48%).

The BSE Reality index plunged 178.82 points to close at 3,813.11. As Anant Raj (9.26%), Indiabull Real (8.81%), Mahindra Life (8.47%), Penland Ltd (6.82%), Unitech Ltd (4.46%) and Sobha Dev (3.57%) closed in negative territory.

The BSE Consumer Durables index dropped by 133.11 points to close at 3,161.87. As Blue Star L (6.91%), Rajesh Export (6.26%), Videocon Ind (3.89%) and Titan Ind (3.60%) closed in negative territory.

The BSE Metal index lost 124.88 points to close at 9,690.05. Major losers are Gujarat NRE C (8.27%), Sesa Goa Ltd (7.66%), NMDC Ltd (7.09%), JSW SL (6.58%), Wespan Gujarat Sr (6.24%) and NALCO (4.98%)

Pre Session Market -Sep 18, 2008

The Indian Market is expected to have gap down opening as US markets closed in deep red and Asian markets are trading weak along with surge in crude oil. On Wednesday, Indian markets remained edgy for the whole day and closed in negative territory after giving up its initial gains. Rise in crude oil along with lower Asian markets, fueled the negative sentiments. Crude oil for October delivery raised $3.57, to $94.72 a barrel on the New York Mercantile Exchange. Domestic markets opened on upbeat note tracking positive cues from the global markets as AIG rescued by Fed and Barclays buys Lehman U.S. unit. Market was not able to sustain the initial momentum and slipped soon after start. Further markets continued to extend its losses though struggled to recover after mid session but slipped again. Finally, markets closed with losses on sustained selling pressure. From the sectoral front, Reality stocks remained in bear’s grip as lost more than 4% and closed in red along with all other indices. Selling pressure over the market was contributed mainly by the Bank, Metal, Oil & Gas, Capital Goods and Pharma stocks. Mid cap and Small cap stocks also remained out of favor as lost more than 1%.

The BSE Sensex closed lower by 255.90 points at 13,262.90 and NSE Nifty ended down by 66.65 points at 4,074.90. The BSE Mid Caps and Small Caps closed with losses of 77.62 points at 5,139.63 and by 74.66 points at 6,214.75. We expect that market may fall further during the trading session and a major concern for the market will be the liquidity concerns in the global markets. Also, the inflation data for the week ended 6th September 2008, due to be released today evening after market hours will give further directions to the market.

On Wednesday, the US market closed in deep red. In a bid to protect investors from so-called "naked" short selling of securities, the Securities and Exchange Commission is requiring short sellers and their broker dealers to deliver securities by the close of business on the settlement date, starting Thursday. The new SEC rules adopted Wednesday remove an exception for market makers in options on stocks from rules restricting naked short-selling and tighten anti-fraud regulations related to that activity. Fed’s bail out of AIG for $85 billion and Barclay’s plan to buy Lehman units fails to stem the fall in financial stocks. Some of the biggest losers include Boeing, JP Morgan, American Express and Walmart. Crude oil for October delivery raised $6.01, to settle at $97.16 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed lower by 449.36 points to close at 10,609.66 followed by the NASDAQ index ended down by 109.05 points at 2,098.85 and the S&P 500 (SPX) lost 57.21 points to close at 1,156.39.

Indian ADRs ended down. In technology sector, Satyam ended lower by (6.59%) followed by Infosys dropped by (5.63%), Wipro lost (5.34%) and Patni Computers fell (2.35%). In banking sector ICICI Bank and HDFC Bank plunged (7.66%) and (5.27%). In telecommunication sector, MTNL and Tata Communication plunged (5.94%) and (2.81%). Sterlite industries decreased by (10.83%).

Today the major stock markets in Asia are trading lower on Wall Street losses over night. Hang Seng index is trading down by 717.51 points at 16,919.68 along with Japan’s Nikkei lower by 374.22 points at 11,375.57, Taiwan Weighted lost 215.20 points at 5,585.67 and Singapore''s Straits fell 82.86 points at 2,336.43.

The FIIs on Wednesday stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs3,092.40 Crore and gross debt purchased stood at Rs9,047.90 Crore while the gross equity sold stood at Rs4,333.00 Crore and gross debt sold stood at Rs144.00Crore. Therefore, the net investment of equity reported was (Rs1,240.60) Crore and net debt was Rs8,904.00 Crore.

On Wednesday India''s rupee rebounded from a two year low, after the central bank announced measures to boost dollar supply and curb exchange rate swings. The rupee rose 1.2% to close at 46.34/35 per dollar against Tuesday’s close of 46.89/90 and touched a high of 46.26 and a low of 46.72.

Today, Nifty has support at 3,867 and resistance at 4,126 and BSE Sensex has support at 12,714 and resistance at 13,528

Mid Session Market - Sep 18, 2008

The markets though managed to recover a bit from its low but are still trading sharply lower as selling pressure continued across the board. The Realty Index is the most unfavorable index as it is now trading with a cut of more than 7% and has under performed the benchmark index today. The BSE Mid Cap and the BSE Small Cap are trading lower with a loss of around 4% each. The Consumer Durables, Metal, IT, Capital Goods and Power stocks are also out of favor today.

The BSE Sensex is now trading around the 12800 mark, while the NSE Nifty around the 3850 mark.

The overall market breadth remains negative as 264 stocks are advancing while 2185 stocks are declining and the 45 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 207.38 points at 4,932.25 and the BSE small Cap slipped by 283.49 points to trade at 5,931.26.

At 12.30 pm, BSE Sensex was at 12,846.15 down by 416.75 points and the NSE Nifty was at 3,893.30 down by 114.95 points.

BSE Metal index dropped by 481.10 points at 9,333.83 as Gujarat NRE (12.11%), Sesa Goa (8.73%), Jindal Saw (6.78%) and Nalco (6.54%) are trading in red.

BSE Capital goods index slipped by 421.19 points to 10,721.72. The main losers are Gammon India (6.61%), Praj Industries (5.20%), BHEL (5.05%) and L&T (3.43%).

BSE IT index declined by 128.76 points to trade at 3,395.56 as Tech Mahindra (6.46%), Patni Computer (5.57%), Satyam Computer (4.72%) and Infosys Technologies (4.35%) trading in negative.

BSE Realty index slipped by 292.44 points to 3,699.49. The major losers are India Bull (11.67%), HDIL (9.84%), Mahindra Life (7.93%) and Unitech (6.85%).

BSE Oil & Gas index was trading 213.63 points lower at 8,552.61 as RNRL (6.29%), Essar Oil (5.60%), ABN Offshore (2.48%), Indian Oil (1.98%) and Cairn India (1.92%) are trading in negative.

BSE Bankex index is trading lower by 110.98 points at 6,481.98. Losers are IDBI Bank (5.22%), Indus Ind Bank (3.43%), ICICI Bank (1.98%) and HDFC Bank (1.81%).

BSE Auto index decreased by 105.28 points to 3,772.62. The top losers are Ashok Leyland (3.50%), Tata Motors (2.59%), Bajaj Auto (2.71%) and Mahindra & Mahindra (2.48%).

BSE Power index declined by 83.87 points to 2,302.03. Losers are Tata Power (5.47%), Torent Power (4.59%), Power Grid (3.59%) and Reliance Power (3.75%)

Post Session Market - Sep 16, 2008

Domestic markets took a sharp U turn and recovered smartly from the initial dip fall on expected cut in interest rate by US Federal Reserve to protect US financial system in its meeting scheduled today along with drop in crude oil below $92 a barrel and short covering during last trade to give up its initial losses and close on a flat note. Indian markets today opened on weak note for the second straight day on the back of unfavorable cues from the global markets that led strong round of selling in early trade. Further, markets continued to trade in negative territory without any sign of recovery but buying on battered heavyweights forced markets to rebound from its days low and end the day on flat note. The news that US finance major Lehman Brothers filed for bankruptcy protection and the uncertain health of other companies weighed heavily on the Indian bourses. From the sectoral front, most of the buying was seen in Oil & Gas and FMCG stocks along with Bank stocks who were in limelight ahead of Fed reserve meet scheduled today and expected to cut interest rate to protect US financial system. However, Metal, Reality, Consumer Durables, Capital Goods and Phama stocks remained out of favour as witnessed most of the selling from these baskets. Mid cap and Small cap stocks also remained unfavorable as lost more than 1%. The market breadth was negative as 1752 stocks closed in red while 886 stocks closed in green and 73 stocks remained unchanged.

On the global front Lehman Brothers had filed for bankruptcy protection in US. Along with that AIG is facing liquidity crunch and seeking $40 billion loan from Federal Reserve to raise capital. Further, Bank of America acquired Merill Lynch at a premium $29 per share.

The BSE Sensex closed lower by 12.47 points at 13,518.80, while NSE Nifty ended up by 2.00 points at 4,074.90. The BSE Mid Caps and Small Caps closed with losses of 71.34 points at 5,217.25 and by 91.06 points at 6,289.41. The BSE Sensex touched intraday high of 13,556.03 and intraday low of 13,051.73.

Losers from the BSE are ICICI Bank Ltd (5.82%), JP Associates (5.09%), Maruti Suzuki (3.55%), Ranbaxy Lab (3.23%), Satyam Computer (3.21%), Wipro Ltd (2.62%), Tata Steel (2.49%), DLF Ltd (2.31%), ACC Ltd (1.92%), Tata Power (1.69%) and TCS Ltd (1.61%).

Gainers from the BSE are SBI (6.49%), Sterlite In (2.66%), Reliance (2.35%), HDFC Bank Ltd (2.16%), ITC Ltd (2.16%), Tata Motors (2.00%), Bharti Airtel (1.21%) and BHEL (1.17%).

The BSE Metal index lost 214.35 points to close at 10,176.49. Major losers are NMDC Ltd (8.53%), Gujarat NRE C (8.40%), Sesa Goa Ltd (7.38%), Jindal Steel (6.30%), Hindustan Zinc (5.60%) and Jai Corp Ltd (3.50%).

The BSE Reality index plunged 170.56 points to close at 4,163.96. As Anant Raj (15.03%), Pheonix Mill (7.30%), Indiabull Real (6.49%), Mahindra Life (5.20%), Housing Development (4.97%) and Penland Ltd (4.57%) closed in negative territory.

The BSE Consumer Durables index ended down by 99.02 points at 3,338.22 Major losers are Rajesh Export (6.02%), Videocon Ind (5.24%), Gitanjali GE (3.90%) and Blue star L (2.48%).

The BSE Pharma index dropped by 88.61 points to close at 3,940.66. As Apollo Hos E (5.62%), Glenmark Pharma (4.82%), Dr Reddy’s Lab (4.20%), Sun Pharma (3.54%), Ranbaxy Lab (3.23%) and Opto Circuit (3.01%) closed in negative territory.

The BSE Oil & Gas index ended higher by 113.67 points at 8,928.13 as BPCL (4.07%), HPCL (3.56%), Reliance (2.35%), Essar Oil Ltd (2.08%), Reliance Pet (1.30%) and IOC Ltd (1.02%) ended in positive territory.

The BSE Bank index advanced 60.39 points to close at 6,852.41. Gainers are Canara Bank (7.06%), SBI (6.49%), Indian Overseas Bank (6.08%), Allahabad Bank (6.07%), Axis Bank (5.98%) and Union Bank (5.10%)