Post Session Market - Oct 31, 2008

The Indian market ended the day on strong note on heavy buying interest over the ground. Drop in inflation number for the fifth successive week and firm global markets lifted the sentiments. Market rose more than 8% also on speculation that RBI may ease monetary policy following rate cuts across the world, including in the US, China and Japan this week. Bank of Japan cut rates for the first time in seven years, to 0.30% from 0.50% joining global efforts to ease the financial crisis.

Today market started the session after a holiday with handsome gains tracking positive cues from global markets. Stocks continued to gain ground on continued buying across the board. However, market gave up some of initial gains during afternoon on profit booking, but further gathered momentum and continued its northward journey till end. The buying support was seen across all the sectoral indices mainly led by the Metal, Oil & Gas, Bank, Capital Goods, IT and Auto stocks. Mid Cap and Small Cap stocks were also on buyers'' radar.

Among the Sensex pack 28 stocks ended in green terrain and 2 in red. The market breadth was in favour of advances as 1577 stocks closed in green while 916 stocks closed in red and 82 stocks remained unchanged.

The BSE Sensex closed higher by 743.55 points at 9,788.06 and NSE Nifty ended up by 188.55 points at 2,885.60. The BSE Mid Caps and Small Caps closed with gains of 105.54 points 3,200.02 and by 90.50 points at 3,765.11. The BSE Sensex touched intraday high of 9,870.42 and intraday low of 9,361.66.

Gainers from the BSE Sensex pack are M&M Ltd (23.09%), HDFC (17.48%), JP Associates (16.55%), ICICI Bank (15.50%), Sterlite Industries (14.48%), Reliance (13.81%), Reliance Communication Ltd (13.76%), Hindalco (13.26%), Tata Steel (12.14%) and Tata Power (11.86%).

Only two losers from the BSE Sensex pack are Ranbaxy Lab (1.97%) and TCS Ltd (0.93%).

Inflation for the week ended 18th October 2008 came in at 10.68% as against 11.07% of previous week. It stood at 3.11% in the year-ago period. Inflation declined for the fifth consecutive week along with decline in inflation rate of three commodity groups - primary articles, fuel and manufactured products.

The BSE Metal index ended higher by (10.20%) or 496.73 points at 5,367.60. Major gainers are JSW Steel (32.70%), Jindal Steel (15.33%), Sterlite Industries (14.48%), Hindalco (13.26%), Tata Steel (12.84%) and Wespan Guajrat Sr (8.92%).

The BSE Oil & Gas index gained (9.11%) or 517.29 points to close at 6,195.62. Major gainers are Reliance (13.81%), Aban Offshore (13.20%), Essar Oil Ltd (11.10%), Cairn India (10.85%), Reliance Petroleum (6.61%) and Reliance Natural Resources (5.83%).

The Bank index closed higher by (7.21%) or 336.90 points to close at 5,011.24 as ICICI Bank (15.50%), Yes Bank (8.81%), HDFC Bank (8.25%), Bank of India (8.11%), Axis Bank (6.59%) and Canara Bank (5.09%) in positive territory.

The BSE Auto index ended up by (6.39%) or 161.22 points at 2,685.62. Gainers are M&M Ltd (23.09%), Bosch Ltd (15.08%), Tata Motors (9.11%), Escorts Ltd (8.69%), Apollo Tyre (5.05%) and Cummins India (4.59%).

The BSE IT index surged (5.77%) or 156.17 points at 2,861.94. Gainers are HCL Tech (13.97%), Rolta India (12.17%), NIIT Ltd (9.69%), Moser Bayer (9.12%), Oracle Fin (8.37%) and Satyam Computer (7.61%).

The BSE Capital Goods index gained (5.00%) or 333.90 points to close at 7,017.61 as Usha Martin (17.62%), Walchand In (8.77%), BHEL (8.72%), Praj Industries (8.39%), Havells India (7.85%) and Jyoti Structures (6.53%) ended in negative territory.

Mid Session Market - Oct 31, 2008

The markets continue to trade higher with strong gains as huge buying is seen across the board. The Oil & Gas, Banking, Metal, IT, Capital Goods and Power stocks are on the buyers ride. The positive global cues are also supporting the market today as both the US Federal Reserve and the Bank of Japan has cut their interest rates in order to tackle the ongoing financial crisis.

The BSE Sensex is now hovering above the 9,600 mark and the NSE Nifty is trading around 2,850 mark. The BSE Mid Cap and the BSE Small Cap stocks are also trading with a gap of more than 2% each.

On the global market front, the Asian markets are however trading lower as Nikkei 225 index trading down by 5.01%, Hang Seng index down by 4.77% and the Straight Times index is trading lower by 1.09%.

The overall market breadth is positive as 1462 stocks are advancing while 763 stocks are declining and the 63 stocks remained unchanged on BSE.

Mahindra & Mahindra reported the top gainer from the BSE Sensex pack as it was trading higher by (19.17%) at Rs.295.55 while Satyam Computer reported the top loser down by (1.96%) at Rs.282.20.

The BSE Mid cap is higher by 59.37 points at 3,153.85 and the BSE small Cap advanced by 71.76 points to trade at 3,746.37.

At 12.31 pm, BSE Sensex was at 9,627.80 up by 583.29 points and the NSE Nifty was at 2,835.55 up by 138.50 points.

BSE Metal index surged by 356.60 points at 5,227.47 as Jindal Steel (15.10%), JSW Steel (10.91%), NALCO (10.83%), Tata Steel (9.34%) and Sterlite Industries (8.97%) are trading in green.

BSE Bankex index is trading higher by 339.58 points at 5,013.92. Gainers are ICICI Bank (11.93%), HDFC Bank (10.15%), Kotak Bank (6.62%), Bank of India (6.98%) and PNB (4.04%).

BSE Oil & Gas index is trading 449.40 points higher at 6,127.73 as Cairn India (11.97%), Aban Offshore (10.80%), Essar Oil (9.63%) and RPL (7.54%) are trading in positive.

BSE Capital goods index advanced by 278.57 points to 6,962.28. The main gainers are Praj Industries (8.06%), L&T (6.41%), BHEL (5.70%), Siemens (3.47%) and Punj Lloyd (1.27%).

BSE IT index inclined by 178.21points to trade at 2,883.98 as HCL Technologies (12.03%), TCS (8.85%), Wipro (7.67%) and Satyam Computer (6.94%) are trading in positive.

BSE Power index was trading 67.98 points higher at 1,568.22. The main gainers are Tata Power (10.62%),.NTPC (4.48%), Torent Power (3.66%) and Reliance Power (2.96%).

BSE Realty index improved by 46.63 points to 1,980.47. The major gainers are DLF (5.06%), Ansal Infra (4.55%), Sobha Developers (2.82%) and Parsavnath (2.59%).

BSE Auto inclined by 118.95 points to 2,643.35. Leading to its gain are Mahindra & Mahindra (12.13%), Tata Motors (7.34%), Maruti Suzuki (4.47%) and Bajaj Auto (3.34%).

Pre Session Market - Oct 31, 2008

Today a market is expected to have positive opening on mixed global cues. The US markets ended with gains and the Asian markets made are trading mixed. Inflation for the week ended 18th October 2008 eased with raising expectation that very soon it may come to single digit.

On Wednesday, domestic market reported marginal gains after showing volatility during the trading session. Market was unable to remain stable ahead of expiry of the Derivative contract of the October 2008 series. Domestic market opened appreciably upper on the back of favorable global markets. However the market was not able to continue the same momentum and pared its initial gains as investors preferred to book some profits. Market revealed sea-saw movement as it was not able to hold a particular territory.

Most of the Asian stock markets reported profits on hopes that the Bank of Japan and the Federal Reserve will cut interest rates as a measure to encourage economic growth. BSE Sensex ended above 9,000 level and NSE Nifty above 2,600 mark. From the sectorial front, Metal, Oil & Gas, Auto and IT were in limelight as most of the buying witnessed from these baskets. However, Reality, Pharma, FMCG and Capital Goods stocks were major sufferers of negative sentiments. We expect that market may remain volatile during the trading session. Investors will also closely watch quarterly results from top companies.

The BSE Sensex closed higher by 36.43 points at 9,044.51 and NSE Nifty ended marginally up by 12.45 points at 2,697.05. The BSE Mid Caps and Small Caps closed with losses of 62.98 points 3,094.48 and by 37 points at 3,674.61. The BSE Sensex touched intraday high of 9,297.76 and intraday low of 8,894.34.

Inflation for the week ended 18th October 2008 came in at 10.68% as against 11.07% of previous week. It stood at 3.11 per cent in the year-ago period.

The US Federal Reserve cut its key lending rate a half point Wednesday to match a historic low of 1.0 percent in the latest action to ease a credit crisis that is strangling the US economy. The cut in the federal funds rate, which impacts a number of other borrowing rates, followed an emergency half-point cut October 8 coordinated with other central banks to help fight a worldwide credit crunch.

Thursday, the US stock market ended in green with last minute gains. Investors neglected disappointing GDP data that showed the economy is shrinking. US 3rd quarter GDP reduced to 0.3% as against growth of 2.8% in 2nd quarter; biggest decline since 2001. Crude oil futures for the December delivery fell $1.54 or 2.3% to $65.96 a barrel on New York Mercantile Exchange. Crude oil fell as uncertainty still surrounding the prospects for global oil demand.

The Dow Jones Industrial Average (DJIA) closed higher by 189.73 points at 9,180.69. NASDAQ index gained 41.31 points to 1,698.52 and the S&P 500 (SPX) surged 24 points to close at 954.09 points.

Indian ADRs ended up. In technology sector, Wipro ended higher by (7.78%) and Satyam gained (7.48%), Infosys ended up by (4.98%) and Patni Computers closed higher by (4.63%). In banking sector ICICI Bank was up by (13.64%) and HDFC Bank gained (11.38%). In telecommunication sector, MTNL inclined by (6.88%), and Tata Communication was up by (2.58%). Sterlite Industries increased by (9.24%).

Today major stock markets in Asia are trading mixed. Hang Seng is lower by 514.63 points at 13,805.22. Further Japan''s Nikkei plunged 245.64 points at 8,784.12 and Singapore''s Straits Times is also down marginally by 1.74 points at 1,800.17. The Taiwan Weighted surged 73.78 points at 4,757.42 and South Korea’s Seoul Composite gained 2.32 points at 1,087.04.

The FIIs on Wednesday stood as net seller in equity and in debt. Gross equity purchased stood at Rs1802.40 Crore and gross debt purchased stood at Rs57.10 Crore, while the gross equity sold stood at Rs2813.30 Crore and gross debt sold stood at Rs109.00 Crore. Therefore, the net investment of equity and debt reported were (Rs1010.90 Crore) and (Rs51.90 Crore) respectively.

On Wednesday, the partially convertible rupee ended at 49.69/70 per dollar, off a low of 49.95 and 0.4% stronger against Monday’s close of 49.87/88. India''s rupee strengthened on hopes gains in stock markets would help revive risk appetite

On BSE, total number of shares traded was 24.23 Crore and total turnover stood at Rs. 3,104.10 Crore. On NSE, total volume of shares traded was 75.32 Crore and total turnover was Rs 11,700.8 Crore.

Top traded volumes on NSE Nifty – Unitech Ltd with total traded volume of 50487402 shares, followed by Hindalco with 48709734 shares, Suzlon Energy with 27886764 shares, RPL with 16507207 shares and Reliance Communications with 16304159 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 1465660 with a total turnover of Rs.19,071.42 Crore. Along with this total number of contracts traded in stock futures were 16878.17 with a total turnover of Rs.17,258.73 Crore. Total numbers of contracts for index options were 1164671 and total turnover was Rs.17,532.61 Crore and total numbers of contracts for stock options were 28029 and notional turnover was Rs.360.48 Crore.

Today, Nifty would have a support at 2,629 and resistance at 2,774 and BSE Sensex has support at 8,756 and resistance at 9,372.

Post Session Market - Oct 24, 2008

The Indian market lost more than 10% to its lowest since November 2005 on growing worries about a sharp global economic slowdown. Investors’ sentiment was also dented after the central bank kept interest rates unchanged at its policy review and lowered its economic growth forecast. Market witnessed one of the worst trading sessions as BSE Sensex ended around 8,700 level and NSE Nifty below 2,600 mark. Domestic market opened sharply lower on huge sell-off in Asian markets. Asian stocks were under pressure for third straight day as the global economic slowdown slashed earnings prospects for many companies.

Further market continued to see free fall and moved down side on sustained selling pressure. Weak European markets also fueled to the depressing sentiment. Bears did not leave any option for the market to come back and finally got distorted badly. From the sectoral front, all indices ended in red and among those, Reality index was worst performer as it ended with a deep cut of more than 24%. Besides, Oil & Gas, Bank, Metal, Capital Goods, Pharma and Auto stocks also took huge beating on the bourses.

Among the Sensex pack all 30 stocks ended in red terrain. The market breadth was extremely negative as 2322 stocks closed in red while 260 stocks closed in green and 46 stocks remained unchanged.

The BSE Sensex closed lower by 1,070.63 points at 8,701.07 and NSE Nifty ended down by 359.10 points at 2,584.00. The BSE Mid Caps and Small Caps closed with losses of 283.04 points 3,095.68 and by 303.87 points at 3,661.83. The BSE Sensex touched intraday high of 9,570.71 and intraday low of 8,566.82.

Losers from the BSE Sensex pack are DLF Ltd (23.96%), Ranbaxy Lab (17.83%), Hindalco (17.82%), Tata Motors (16.54%), Reliance (16.44 %), M&M Ltd (16.04%), Reliance Communication Ltd (15.93%), ICICI Bank (15.20%), ONGC Ltd (15.01%), Sterlite Industries (14.94%), Reliance Infra (14.88%) and Tata Steel (14.46%).

The RBI kept its key lending rate stable at 8% and cash reserve ration unchanged at 6.5%. Along with this the RBI lowered its 2008/09 growth forecast to 7.5% from a previous forecast of around 8.0%.

The BSE Oil & Gas index plunged 906.64 points to close at 5,151.64. Major losers are Essar Oil Ltd (19.32%), Cairn India (18.52%), Reliance (16.44 %), Aban Offshore (15.84%), ONGC Ltd (15.01%) and Reliance Reliance Petroleum (14.09%).

The Bank index lost 671.27 points to close at 4,649.87 as Kotak Bank (20.72%), Oriental Bank (16.72%), ICICI Bank (15.20%), SBI (4.84%), Axis Bank (14.13%) and Yes Bank (13.52%) in negative territory.

The BSE Capital Goods index plunged 633.97 points to close at 6,610.89 as Suzlon Energy (39.23%), Jyoti struct (19.90%), ABB Ltd (16.76%), Havell’s India (14.11%) and Walchand Industries (13.55%) ended in negative territory.

The BSE Metal index went down by 603.04 points to close at 4,393.88. Major losers are Nalco (22.59%), Hindalco (17.82%), Welspan Guajrat Sr (16.02%), Sterlite Industries (14.94%), Tata Steel (14.46%) and JSW Steel (10.95%).

The BSE Auto index ended down by 288.83 points at 2,480.96. Losers are Tata Motors (16.54%), M&M Ltd (16.04%), Bharat Forge (14.51%), Amtek Auto (12.42%), Bajaj Auto (12.26%) and Ashok Leyland (11.53%).

The BSE Pharma index closed lower by 252.97 points at 2,811.47. Losers are Glenmark Pharma (19.99%), Ranbaxy Lab (17.83%), Matrix Lab (15.51%), Orchid Chem (13.07%), Cipla Ltd (11.68%) and Opto Circuit (9.89%).

Mid Session Market - Oct 24, 2008

The market is extending its losses after the Reserve Bank of India kept key rates steady in its policy review. The RBI kept its key lending rate stable at 8% and cash reserve ratio unchanged at 6.5%. Along with this the RBI lowered its 2008/09 growth forecast to 7.5% from a previous forecast of around 8.0%. Domestic market opened lower on sharp sell-off in Asian markets as the global economic slowdown slashed earnings prospects for many companies.

Most of the selling pressure is emerged in Metal, Oil & Gas, Capital Goods, Bank, Pharma, Reality, Auto and IT stocks. The BSE Sensex extended its losses to more than 6% and is trading below the 9,100 mark. Further, the NSE Nifty extended its losses to above 7% and is below the 2,800. The BSE Mid Cap and Small Cap stocks are also reeling under pressure and trading with loss of more than 5% each.

On the global market front, the Asian markets are trading lower on global recession fears. Nikkei 225 Average fell 7 plunged 6.5% to 7,912.47 and the Hang Seng Index lost 4.8% at 13,090.77 along with Straits Times dropped 4% at 1,676.12.

The overall market breadth is negative as 2033 stocks are declining while 337 stocks are advancing and the 46 stocks remained unchanged on BSE.

Hindalco reported the top loser from the BSE Sensex pack as it was trading down by (22.18%) at Rs.41.05 followed by M&M Ltd lower by (14.11%) at Rs.294.00.

The BSE Mid cap is lower by 180 points at 3,198.08 and the BSE small Cap lost 200 points to trade at 3,765.7.

At 12.30 pm, BSE Sensex was at 9,082.2 down by 689 points and the NSE Nifty was at 2,717.1 lower by 226 points.

BSE Metal index is trading down by 487.31 points to 4,509.61. The main losers are Nalco (20.27%), Hindalco (18.48%), Tata Steel (11.97%) and Sterlite Industries (10.95%).

BSE Capital Goods index plunged 412.72 points at 6,807.87 as Suzlon Energy (26.05%), Jyoti Sturct (9.70%), Bharat Bijli (8.28%) and Siemens Ltd (8.06%) are trading in red.

BSE Oil & Gas index is trading 393.96 points down at 5,664.32 as Gail India (11.86%), Essar Oil Ltd (11.56%), ONGC Ltd (10.70%) and Cairn Ind (8.62%) are trading in negative.

BSE Bankex index is trading lower by 390.42 points at 4,930.72. Losers are Kotak Bank (10.50%), Oriental Bank (10.07%), Bank of India (9.73%) and SBI (9.08%).

BSE Pharma index was trading 211.88 points lower at 2,852.56. The main losers are Glenmark Pharma (19.99%), Ranbaxy Lab (11.29%), Sunpha Adv (10.82%) and Opto Circuit (8.19%).

BSE Reality index decreased by 205.18 points to 2,101.41. Losers are Unitech Ltd (16.18%), Pheonix Mill (12.40%), Opto Circuit (12.08%) and Mahindra Life (8.30%).

BSE Auto index declined by 197.16 points to trade at 2,872.63 as Amtek Auto (19.23%), M&M Ltd (14.18%), Bharat Forge (13.26%) and Tata Motors (11.26%) are trading in negative.

BSE IT index dropped by 129.78 points to 2,610.02. The major losers are Financ Tech (9.40%), Moser Bayer (9.11%), Wipro Ltd (7.88%) and NIIT Ltd (7.06%).

Pre Session Market - Oct 24, 2008

Today Markets are likely to open negative as Asian markets have opened with a blood bath despite mixed close of the US markets. The domestic investors are skeptic about the present economic scenario and the carnage happening across the world. RBI is set to come up with its Credit Policy today. On the other hand SEBI is stringent with the FIIs about the short selling and winding up of positions in the market so as to give the markets a little stability. Inflation numbers are good as it has fallen by 37bps. Inflation for the week ended 11th October 2008, stood at 11.07% as against to 11.44% of the previous week.

On Thursday, domestic Markets lost 398.20 points as it opened with a huge negative gap. The carnage was basically fuelled by the falling Asian and European markets. Metal was the worst hit as the metal prices are falling across the world on the back of skepticism about economic growth. The investors were little cautious about their positions before the Credit Policy to be announced today. Metal, Auto, Oil & Gas and Realty witnessed heavy selling pressures and fell by 11.08%, 7.21%, 5.30% and 5.26% respectively. In the metal index Tata Steel and SAIL plummeted heavily by 14.85% and 14.39% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed lower by 398.20 points at 9,771.70 and NSE Nifty ended down by 122 points at 2,943.15. The BSE Mid Caps and Small Caps closed with losses of 111.67 points 3,378.72 and by 145.99 points at 3,965.70. The BSE Sensex touched intraday high of 10,260.55 and intraday low of 9,681.28.

On Thursday, US markets closed mixed amidst concerns over the jobless claims and also the better than expected quarterly results. Despite good quarterly numbers the investors are pessimistic about the outlook of these companies. On the other hand jobless claims for the week ending Oct. 18 rose 15,000 to 478,000, surpassing 468,000 claims that were expected. Crude oil futures for the December delivery gained $1.09 to $67.84 a barrel on New York Mercantile Exchange. The surge in the oil prices was expected as the traders are anticipating a production cut from OPEC which is meeting today to discuss the production and price issues.

The Dow Jones Industrial Average (DJIA) closed with a gain of 172.04 points at 8,691.25. NASDAQ index lost 11.84 points at 1,603.91 and the S&P 500 (SPX) gained 11.33 points to close at 908.11 points.

Indian ADRs ended mixed. In technology sector, Wipro slipped (4.13%) and Satyam lost by (0.14%) while Infosys ended up by (1.97%) and Patni Computers closing higher by (0.73%). In banking sector HDFC Bank was up by (4.20%) and ICICI Bank gained (1.91%). In telecommunication sector, Tata Communication inclined by (10.08%), and MTNL was up by (8.97%). Sterlite Industries was down by (2.23%).

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading high by 11.66 points, at 1,887.22. Hang Seng is low by 288.23 points at 13,472.26. Further Japan''s Nikkei is low by 400.90 points at 8,060.08. Straits Times is trading is also trading low by 53.05 points at 1,692.62 and South Korea’s Seoul Composite is low by 46.51 points at 1,003.2.

The FIIs on Thursday stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs1724.60 Crore and gross debt purchased stood at Rs537.30 Crore, while the gross equity sold stood at Rs1997.50 Crore and gross debt sold stood at Rs422.80 Crore. Therefore, the net investment of equity and debt reported were (Rs272.90 Crore) and Rs144.60 Crore respectively.

On Thursday, the partially convertible rupee ended at 49.81/82 per dollar, 1.1% weaker than Wednesday''s close of 49.28/29, but off the days’ low of 49.86. The rupee hit to record low on another sharp drop in the stock market and broad-based dollar strength.

On BSE, total number of shares traded was Rs. 23.88 Crore and total turnover stood at Rs. 3,754.82 Crore. On NSE, total volume of shares traded was Rs. 52.20 Crore and total turnover was Rs 10,552.58 Crore.

Top traded volumes on NSE Nifty – Reliance Petro with total traded volume of 31876780 shares, followed by Idea Celluar with 17421399 shares, ICICI Bank with 15491109 shares, Unitech with 15377250 shares and SAIL with 11210202 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 1396009 with a total turnover of Rs 19,814.7 Crore. Along with this total number of contracts traded in stock futures were 1170735 with a total turnover of Rs 13,533.26 Crore. Total numbers of contracts for index options were 1226867 and total turnover was Rs 19,670.69 Crore and total numbers of contracts for stock options were 44994 and notional turnover was Rs 606.3 Crore.

Today, Nifty would have a support at 2,865 and resistance at 3,015 and BSE Sensex has support at 9,495 and resistance at 10,105.

Post Session Market - Oct 23, 2008

The Indian market slipped further for the second straight day to close deeper into red. Market shed more than 3% as investors are skeptic about the domestic as well as global economy. Lack of confidence among domestic investors, huge selling by foreign funds and recession fears aggravated the situation. The relaxation of ECB norms by the RBI failed to benefit the investor’s sentiment. Domestic market opened sharply lower on weak global cues as credit concerns had become strong in the emerging markets. Though the markets pared off its early losses in the afternoon, it could not sustain due to huge selling pressure.

Eased inflation number and finance ministers’ comment that Sebi has asked FIIs to reverse short positions, also contributed a bit to the rebound. Sustained selling again hammered markets to end with sharp losses. NSE Nifty ended below 3,000 mark and BSE Sensex closed below 9,800 level. From the sectoral front, Metal index was worst performer as it ended with a deep cut of more than 11%. Besides, Oil & Gas, Auto, Bank, Pharma and Reality stocks also took huge beating on the bourses. However, Capital Goods and Consumer Durable stocks ended with gains.

Among the Sensex pack 24 stocks ended in red terrain while 6 in green. The market breadth was negative as 1908 stocks closed in red while 622 stocks closed in green and 66 stocks remained unchanged.

The BSE Sensex closed lower by 398.20 points at 9,771.70 and NSE Nifty ended down by 122 points at 2,943.15. The BSE Mid Caps and Small Caps closed with losses of 111.67 points 3,378.72 and by 145.99 points at 3,965.70. The BSE Sensex touched intraday high of 10,260.55 and intraday low of 9,681.28.

Inflation for the week ended 11th October 2008, stood at 11.07% as against to 11.44% of the previous week. The annual inflation rate was 3.07% during the corresponding week of the previous year. Reduction in inflation is contributed by lower prices of food and non food items. In the non food category, sunflower and raw cotton became cheaper. Among food articles, the prices of fruits, vegetables and eggs dropped during the week.

Losers from the BSE Sensex pack are Tata Steel (14.85%), Tata Motors (14.57%), Hindalco (13.10%), Ranbaxy Lab (10.94%), M&M Ltd (9.77%), Maruti Suzuki (8.82%), ICICI Bank (7.79%), Bharti Airtel (7.76%), HDFC (7.71%), Reliance (7.62%), Sterlite Industries (7.47%) and JP Associates (6.41%).

Gainers from the BSE Sensex pack are Grasim Industries (4.74%), BHEL (2.74%), L&T Ltd (2.43%), HDFC Bank (2.23%), ONGC Ltd (1.94%) and TCS Ltd (0.20%).

The BSE Metal index ended down by 622.53 points at 4,996.92. Major losers are Tata Steel (14.85%), Steel Authority (14.39%), Nalco (14.08%), Hindalco (13.10%), Jindal Steel (10.98%) and Hindustan Zinc (10.03%).

The BSE Oil & Gas index plunged 399.30 points to close at 6,058.28. Major losers are Aban Offshore (16.54%), Reliance Petroleum (10.29%), Essar Oil Ltd (10.27 %), Reliance (7.62%), HPCL (7.42%) and BPCL (6.69%).

The BSE Auto index ended down by 215.37 points at 2,169.79. Losers are Tata Motors (14.57%), Apollo Tyre (12.26%), Amtek Auto (11.09%), M&M Ltd (9.77%), Maruti Suzuki (8.82%) and Bharat Forge (6.98%).

The Bank index lost 183.44 points to close at 5,504.58 as ICICI Bank (7.79%), Kotak Bank (6.27%), Bank of India (5.12%), SBI (4.84%), Indian Overseas Bank (4.37%) and IDBI Bank (3.46%) in negative territory.

The BSE Pharma index closed lower by 134.88 points at 3,064.44. Losers are Glenmark Pharma (11.50%), Ranbaxy Lab (10.94%), Sunpha Adv (7.33%), Apollo Hos E (6.46%), Matrix Lab (6.12%) and Aurobindo Pharma (4.51%).

The BSE Consumer Durable index gained 21.62 points to close at 1,969.56 as Titan Ind (5.31%), Rajesh Export (0.59%) and Blue Star L (0.57%) ended in positive territory.

Mid Session Market - Oct 23, 2008

The market is trading weak though it has cut some of its early losses on value buying and short covering. Investors are ignoring reports about the expected drop in the inflation number for the week ended 11th October 2008, due to be released today. Further, the relaxation of ECB norms by the RBI failed to benefit the investor’s sentiment.

Domestic market opened sharply lower on weak global cues as credit concerns have become strong in the emerging markets. Selling pressure is continued in Metal, Oil & Gas, Bank, Auto Capital Goods, Pharma, Reality and IT stocks. The NSE Nifty is below the 3,000 level and the BSE Sensex is trading below the 9,900 mark . The BSE Mid Cap and Small Cap stocks are also under pressure.

On the global market front, the Asian markets are trading weak on fears for global recession. Nikkei 225 Average fell 7.6% to 8,016.61 and the Hang Seng Index lost 4.5% to 13,625.96 along with South Korea''s Kospi dropped 9.1% to 1,031.18.

The overall market breadth is negative as 1709 stocks are declining while 542 stocks are advancing and the 65stocks remained unchanged on BSE.

Tata Steel reported the top loser from the BSE Sensex pack as it was trading down by (11.25%) at Rs.217.25 followed by Tata Motors lower by (9.31%) at Rs.207.00.

The BSE Mid cap is lower by 100 points at 3,390.19 and the BSE small Cap lost 112 points to trade at 3,999.45.

At 12.30 pm, BSE Sensex was at 9,875.74 down by 294 points and the NSE Nifty was at 2,978.25 lower by 86 points.

BSE Metal index is trading down by 385.85 points to 5,233.60. The main losers are Tata Steel (10.80%), Hindalco (8.48%), JSW Steel (7.77%) and Nalco (7.25%).

BSE Oil & Gas index is trading 194.42 points down at 6,203.16 as Essar Oil Ltd (6.29%), Reliance (3.61%), Cairn Ind (3.60%) and Aban Offshore (3.09%) are trading in negative.

BSE Bankex index is trading lower by 160.46 points at 5,344.12. Losers are Kotak Bank (5.27%), ICICI Bank (4.40%), Indian Overseas Bank (3.61%) and Axis (3.00%).

BSE Auto index declined by 107.18 points to trade at 2,877.98 as Tata Motors (8.70%), Apollo Tyre (7.70%), Amtek Auto (7.29%) and Bharat Forge (6.17%) are trading in negative.

BSE Reality index decreased by 64.94 points to 2,368.76. Losers are Pheonix Mill (12.84%), Anant Raj In (7.80%), Penland Ltd (5.03%) and Ansal Infra (3.98%).

BSE Pharma index was trading 62.64 points lower at 3,136.68. The main losers are Glenmark Pharma (7.03%), Ranbaxy Lab (6.27%), Piramal Healthcare (5.08%) and Apollo Hos E (4.09%).

BSE Capital Goods index plunged 57.10 points at 7,169.83 as Elecon Eng C (7.41%), Suzlon Energy (6.95%), Thermax Ltd (5.67%) and Gammon Indi (5.01%) are trading in red.

BSE IT index dropped by 21.46 points to 2,768.81. The major losers are Tech Mahindra (7.98%), Financ Tech (6.93%), NIIT Ltd (5.21%) and Patni computer (4.91%).

Pre Session Market - Oct 23, 2008

Today Markets are likely to open with huge negative gap as the US markets nose dived into deep red yesterday and other Asian markets today opened with heavy blood bath. Yesterday’s loss in the markets has already spread a strong negative sentiment and therefore today’s worse market scenario across the world would further pulled down the domestic markets to new lows. The economic slowdown in US coupled with deteriorating markets in Asian and Europe testifies the fact that the pessimistic sentiments are prevailing across the world, which would last for a longer period of time.

On Wednesday, domestic Markets opened with a negative gap as Asian markets also opened with a blood bath and US markets had ended in red. Profit booking was witnessed in sectors like Realty and Metal that had gained momentum in the previous trading day. The carnage was further fuelled by the Nikkei (Japan) which was brutally shattered by 6.79% due to negative outlook of the earnings in the US. Except the FMCG sector all the other indices felt the heat of selling pressures. Metal, Realty, Bankex and Oil & Gas witnessed heavy profit booking and therefore tumbled by 7.90%, 7.57%, 5.78% and 5.56% respectively. In the metal index Tata Steel and Sterlite plummeted heavily by 12.04% and 10.04% respectively. During the trading session we expect the market to be in deep red.

The BSE Sensex closed lower by 513.49 points at 10,169.90 and NSE Nifty ended down by 169.75 points at 3,065.15. The BSE Mid Caps and Small Caps closed with losses of 96.85 points 3,490.39 and by 84.59 points at 4,111.69. The BSE Sensex touched intraday high of 10,484.85 and intraday low of 10,128.22.

On Wednesday, US markets nose dived into red on the back of negative outlooks of various companies. AT&T and Boeing missed the earning estimates showing signs of economic slowdown. On the other hand 56% of the majority of companies reported better than expected results; however the outlook of 39% companies very negative, 29% were in line, 24% mixed and only 7% were positive. The fundamental worries are yet to haunt the markets in US for a long period of time. Crude oil futures for the December delivery fell $5.43 to $66.75 a barrel on New York Mercantile Exchange, which is less than half of the $147 high seen in July.

Oil tumbled to a 16-month low amid more evidence that the economic downturn was drying up energy demand. US Energy Information Administration informed that the country''s oil stocks jumped by 3.2 million barrels last week, above the expected increase of 2.9 million.The Dow Jones Industrial Average (DJIA) closed lower by 514.45 points at 8,519.21. NASDAQ index lost 80.93 points at 1,615.75 and the S&P 500 (SPX) also fell by 58.27 points to close at 896.78 points.

Indian ADRs ended negative. In technology sector, Infosys slipped (4.52%) and Wipro lost by (7.75%) followed by Satyam that ended low by (4.84%) and Patni Computers closing low by (12.64%). In banking sector ICICI Bank was down by (15.20%), while HDFC Bank lost (9.61%). In telecommunication sector, Tata Communication declined by (10.28%), while MTNL was low by (6.45%). Sterlite Industries was down by (11.01%).

Today the major stock markets in Asia opened negative. The Shanghai Composite is trading low by 53.09 points, at 1,842.73. Hang Seng is low by 799.83 points at 13,466.77. Further Japan''s Nikkei is low by 510.26 points at 8,164.43. Straits Times is trading is also trading low by 71.11 points at 1,750.02 and South Korea’s Seoul Composite is low by 94.65 points at 1,039.94.

The FIIs on Wednesday stood as net buyers in equity however in debt there was no trading. Gross equity purchased stood at Rs2725.60 Crore and gross debt purchased stood at Rs0.0 Crore, while the gross equity sold stood at Rs2611.80 Crore and gross debt sold stood at Rs0.0 Crore. Therefore, the net investment of equity and debt reported were Rs113.90 Crore and Rs0.0 Crore respectively.

On Wednesday, the partially convertible rupee ended at 49.28/29 per dollar, 0.15weaker than Tuesday''s close of 49.04/06. The rupee hit to level of 49.50 during the trading. Rupee slumped on heavy dollar sales by state-run banks and slide in domestic stock market.

On BSE, total number of shares traded was Rs. 21.21 Crore and total turnover stood at Rs. 3,095.17 Crore. On NSE, total volume of shares traded was Rs. 46.05 Crore and total turnover was Rs 8,733.63 Crore.

Top traded volumes on NSE Nifty – Reliance Petro with total traded volume of 13626942 shares, followed by ICICI with 11560559 shares, Idea Celluar with 10412416 shares, SAIL with 9879175 shares and ITC with 9025043 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 1092600 with a total turnover of Rs 16,063.48 Crore. Along with this total number of contracts traded in stock futures were 1025460 with a total turnover of Rs 12,379.68 Crore. Total numbers of contracts for index options were 1272509 and total turnover was Rs 21,086.72 Crore and total numbers of contracts for stock options were 35768 and notional turnover was Rs 516.96 Crore.

Today, Nifty would have a support at 2,815 and resistance at 2,925 and BSE Sensex has support at 9,445 and resistance at 9,815.

Post Session Market - Oct 22, 2008

Indian market snapped its two days of gain and tumbled due to huge selling across the board. Weakness continued during the trading session on the back of weak global cues and sustained selling by foreign funds. Along with that fears of recession and deteriorating corporate earnings dragged down equity markets all over the world. Domestic markets opened sharply lower tracking nervousness in global markets. The US markets fell on sharp sell off and on feeble earnings. Market slipped further on the back of profit booking as well as weak Asian markets.

Further, stocks continued to trade sharply lower to end with huge losses. BSE Sensex ended below 10,200 level along with NSE Nifty below 3,100 mark. On the sectoral front, most of the indices remained under pressure and among those, Metal, Oil & Gas, Capital Goods, Bank and IT stocks witnessed most of the selling from these baskets. However, FMCG stocks were in limelight. Profit booking was also witnessed in Midcap and Smallcap stocks.

Among the Sensex pack 28 stocks ended in negative terrain while 2 in positive. The market breadth was negative as 1733 stocks closed in red while 778 stocks closed in green and 77 stocks remained unchanged.

The BSE Sensex closed lower by 513.49 points at 10,169.90 and NSE Nifty ended down by 169.75 points at 3,065.15. The BSE Mid Caps and Small Caps closed with losses of 96.85 points 3,490.39 and by 84.59 points at 4,111.69. The BSE Sensex touched intraday high of 10,484.85 and intraday low of 10,128.22.

Losers from the BSE Sensex pack are Tata Steel (12.04%), Sterlite Industries (10.04%), Reliance Communication Ltd (8.79%), ICICI Bank (8.04%), JP Associates (7.88%), Tata Motors (7.87%),), Bharti Airtel (7.76%), M&M Ltd (7.14%), ACC Ltd (7.11%), SBI (6.56%), Wipro Ltd (5.61%) and Reliance Infra (6.37%).

The BSE Metal index ended down by 482.31 points at 5,619.45. Major losers are Tata Steel (12.04%), Sterlite Industries (10.04%), Jindal Steel (9.45%), Nalco (9.10%), Steel Authority (7.13%) and Wespan Gujarat Sr (6.89%).

The BSE Oil & Gas index plunged 376.70 points to close at 6,397.58. Major losers are Cairn Ind (9.64%), BPCL (8.15%), Gail India (7.05 %), HPCL (6.85%), Reliance Petroleum (5.97%) and Reliance (5.83%).

The BSE Bank index lost 337.65 points to close at 5,504.58 as Bank of Baroda (8.53%), ICICI Bank (8.04%), Union Bank (7.73%), SBI (6.56%), Bank of India (6.41%) and Punjab National Bank (5.78%) in negative territory.

The BSE Capital Goods index closed lower by 336.49 points at 7,226.93. Losers are Areva (80.35%), Usha Martin (12.37%), Praj Industries (9.18%), ABB Ltd (8.26%), Gammon Indi (8.01%) and Suzlon Energy (7.16%).

The BSE Reality index ended down by 199.23 points at 2,433.70. Losers are Indiabull Real (12.75%), Phoenix Mill (12.42%), Anant Raj (11.63%), Unitech Ltd (9.87%), Parsvnath (8.98%) and Mahindra Life (7.41%).

The BSE FMCG index gained 12.20 points to close at 1,969.56 as United Spr (5.08%), ITC Ltd (1.04%), HUL (0.50%) and Colgate Palm (0.41%) ended in positive territory.

Mid Session Market - Oct 22, 2008

The market is continuing to extend its losses on account of heavy selling pressure seen across board led by further slump in Asian markets. Domestic market is witnessing deeper crack after a negative opening on weak global cues. Fears of recession and deteriorating earnings by the US companies pulled the equity markets all over the world.

Major contributors to the selling pressure are Oil & Gas, Metal, Capital Goods, Bank, Reality, IT and Auto stocks. However, most of the buying is seen in FMCG stocks. BSE Sensex is trading below the 10,300 mark and the NSE Nifty is below the 3,100. The BSE Mid Cap and Small Cap stocks are also trading in red with drop of more than 2% and 1% respectively.

Indian rupee opened at Rs49.27 per dollar as against Tuesday’s close of Rs 49.04. Further, it hit an the low of Rs49.49 a dollar due to the high dollar demand from importers and capital outflows by the foreign funds.

On the global market front, the Asian markets are extending their losses. Nikkei 225 Average fell 5.1% to 8,828.54 and the Hang Seng Index lost 2.4% to 14,676.96 followed by South Korea''s Kospi dropped 2.2% to 1,170.03.

The overall market breadth is negative as 1540 stocks are declining while 664 stocks are advancing and the 72 stocks remained unchanged on BSE.

TCS Ltd reported the top loser from the BSE Sensex pack as it was trading down by (7.86%) at Rs.517.00 followed by Reliance Communication Ltd lower by (7.67%) at Rs.238.40.

The BSE Mid cap is lower by 79 points at 3,507.96 and the BSE small Cap lost 68 points to trade at 4,127.68.

At 12.30 pm, BSE Sensex was at 10,246.37 down by 437 points and the NSE Nifty was at 3,082.80 lower by 152 points.

BSE Oil & Gas index is trading 350.80 points down at 6,423.48 as Cairn India (9.58%), BPCL (8.62%), HPCL (6.80%) and Gail India (6.05%) are trading in negative.

BSE Metal index is trading down by 337.15 points to 5,764.61. The main losers are Jindal Steel (8.60%), Nalco (8.40%), JSW Steel (7.46%) and Tata Steel (7.08%).

BSE Capital Goods index plunged 294.74 points at 7,268.68 as Areva (80.55%), Praj Indus (7.55%), SKF India (5.81%) and L&T Ltd (5.23%) are trading in red.

BSE Bankex index is trading lower by 189.45 points at 5,652.78. Losers are Union Bank (5.44%), ICICI Bank (5.36%), Punjab National Bank (4.73%) and SBI (4.31%).

BSE Reality index decreased by 148.67 points to 2,484.26. Losers are Indiabull Real (9.42%), Unitech Ltd (7.92%), Pheonix Mill (7.59%) and Housing Dev (6.04%).

BSE IT index dropped by 132.95 points to 2,773.88. The major losers are HCL Tech (11.99%), Aptech Ltd (8.36%), TCS Ltd (7.90%) and Oracle Fin (6.95%).

BSE Auto index declined by 121.86 points to trade at 3,001.41 as Amtek Auto (8.83%), M&M Ltd (6.52%), Bajaj Auto (6.24%) and Tata Motors (6.12%) are trading in negative.

BSE Pharma index was trading 93.25 points lower at 3,210.57. The main losers are Piramal Health (7.97%), Glenmark Pharma (7.67%), Orchid Chem (6.78%) and Dr Reddy’s Lab (6.51%).

Pre Session Market - Oct 22, 2008

Today markets are likely to open negative as there are negative cues coming from the US and other Asian markets. After yesterday’s strong trend, today one could witness some selling pressures on the back of weak sentiments and negative cues from other markets. There is no other news in the domestic macro economic front which could affect the market sentiments. Therefore domestic markets are likely to follow the trend of Asian and European markets. Since Asian markets opened with a blood bath one could expect the domestic markets to open with a negative gap. Short selling pressures could hack the markets further.

On Tuesday, domestic markets opened positive as the investors very receptive to the positive assertions made by our Honourable Prime Minister Dr. Manmohan singh day before yesterday. Further the other Asian markets also exuded signs of positive sentiments which helped the domestic markets close in green. After the opening there was some volatility in the trading, however in the later trading session sectors like Realty, CD and IT added buoyancy in the markets. Realty bourses have had suffered brutal hack in the previous trading days, therefore today it witnessed some value buying.

In Consumer Durables sector, Titan was the top gainer with a phenomenal gain of 17.39%. However in Realty and IT, IndiaBull Realty and TCS were the fore runners with staggering gains of 27.65% and 12.86% respectively. During the trading session we expect the market to be trading with a negative gap.

The BSE Sensex closed higher by 460.30 points at 10,683.39 and NSE Nifty ended up by 112.1 points at 3,234.90. The BSE Mid Caps and Small Caps closed with gains of 80.89 points at 3,587.24 and by 83.46 points at 4,196.28. The BSE Sensex touched intraday high of 10,750.20 and intraday low of 10,250.23.

On Tuesday, US markets tumbled on the back of cautious sentiments on the credit markets and the mixed results coming from several companies. On the other hand the credit markets are showing some improvement and the Fed is also buying commercial papers from the mutual funds in an effort to inject more liquidity in the markets. But the investors are still skeptic about the current economic scenario. Some companies that top the quarterly results were 3M, American Express, DuPont and Pfizer, however Blackrock, Caterpillar and Texas instruments missed the estimates.

Crude oil futures for the month of November delivery fell $3.36 to $70.89 a barrel on New York Mercantile Exchange after touching the low of $69.77 a barrel. Oil tumbled below $71 as a stronger dollar hurt investor demand for commodities and outweighed concerns about an expected cut in OPEC output. The November contract expired at the close of trading Tuesday. Crude oil fof December delivery fell $2.21, to close at $72.18 a barrel.

The Dow Jones Industrial Average (DJIA) closed lower by 231.77 points at 9,033.66. NASDAQ index lost 73.35 points at 1,696.68 and the S&P 500 (SPX) also decreased by 30.35 points to close at 955.05 points.

Indian ADRs ended negative. In technology sector, Infosys slipped (5.2%) and Wipro lost by (1.63%) followed by Satyam that ended low by (3.83%) and Patni Computers closing low by (4.19%). In banking sector ICICI Bank was down by (2.87%), while HDFC Bank lost (4.14%). In telecommunication sector, Tata Communication declined by (4.32%), while MTNL was low by (6.05%). Sterlite Industries was down by (3.48%).

Today the major stock markets in Asia opened negative. The Shanghai Composite is trading low by 19.35 points, at 1,939.18. Hang Seng is low by 361.19 points at 14,685.36. Further Japan''s Nikkei is low by 368.94 points at 8,937.31. Straits Times is trading is also trading low by 62.62 points at 1,862.55 and South Korea’s Seoul Composite is low by 33.59 points at 1,162.58.

The FIIs on Tuesday stood as net sellers in equity and in debt. Gross equity purchased stood at Rs1870.20 Crore and gross debt purchased stood at Rs0.0 Crore, while the gross equity sold stood at Rs2710.30 Crore and gross debt sold stood at Rs227.70 Crore. Therefore, the net investment of equity and debt reported were (Rs840.10 Crore) and (Rs227.70 Crore) respectively.

On Tuesday, the partially convertible rupee ended at 49.04/06 per dollar, 0.1% weaker than Monday''s close of 48.97/98. The rupee fell to level of 49.15 during the trading. Rupee ended down as central bank strike hit volumes and due to dollar demand from importers.

On BSE, total number of shares traded was Rs. 26.46 crores and total turnover stood at Rs. 3,882.49 crores. On NSE, total volume of shares traded was Rs. 55.61 crores and total turnover was Rs 11,076.44 crores.

Top traded volumes on NSE Nifty – Reliance Petro with total traded volume of 20428352 shares, followed by ICICI with 13856773 shares, Idea Celluar with 13665405 shares, Suzlon with 12492181 shares and Unitech with 12099881 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 1085573 with a total turnover of Rs 16375.17 Crore. Along with this total number of contracts traded in stock futures were 1093114 with a total turnover of Rs 13114.71 Crore. Total numbers of contracts for index options were 1163074 and total turnover was Rs 19682.64 Crore and total numbers of contracts for stock options were 49272 and notional turnover was Rs 672.53 Crore.

Today, Nifty would have a support at 3,085 and resistance at 3,205 and BSE Sensex has support at 10,025 and resistance at 10,495.

Post Session Market - Oct 21, 2008

Market continued its upward movement for the second straight day and ended with heavy gains on strong buying across the board. Investors hunted for bargains on favorable global cues and CRR cut by RBI along with Prime minister’s assurance that the Indian economy continued to be resilient. RBI cut its repo rate for the first time in 4.5 years on Monday by 100 basis points to 8.0% to soften the liquidity condition. Domestic markets opened on strong note tracking favorable cues from the markets across the world. Global markets lifted by the government’s efforts to push down short-term lending rates.

Along with this Fed chairman Ben Bernanke indicated about another fiscal stimulus package and also expressed confidence in the government''s recent efforts to restore the financial system. Further market continued to recover from last week’s losses and extend its gains. Finally, market closed sharply higher on hopes that the global credit crisis would ease due to measures taken by policy makers across the world.

BSE Sensex ended above 10,600 level along with NSE Nifty above 3,200 mark. On the sectoral front, all indices exhibited a good show and Consumer Durable and Reality stocks outperformed the benchmark index as they ended with gains of more than 8%. Apart from that, Capital Goods, Oil & Gas, Metal and IT stocks witnessed most of the buying from these baskets. Midcap and Smallcap stocks were also able to gain favor from the market.

Among the Sensex pack 28 stocks ended in positive terrain while 2 in red. The market breadth was positive as 1613 stocks closed in green while 975 stocks closed in red and 63 stocks remained unchanged.

The BSE Sensex closed higher by 460.30 points at 10,683.39 and NSE Nifty ended up by 112.1 points at 3,234.90. The BSE Mid Caps and Small Caps closed with gains of 80.89 points at 3,587.24 and by 83.46 points at 4,196.28. The BSE Sensex touched intraday high of 10,750.20 and intraday low of 10,250.23.

Gainers from the BSE Sensex pack are JP Associates (16.25%), TCS Ltd (12.86%), Reliance Communication Ltd (11.25%), Tata Steel (10.20%)), Satyam Computer (9.84%), Tata Power (9.60%),), Sterlite Industries (8.59%), L&T Ltd (6.13%), ACC Ltd (6.03 %), Reliance (5.73%), Wipro Ltd (5.61%) and HDFC (5.25%).

The BSE Capital Goods index closed higher by 392.92 points at 7,563.42. Gainers are Praj Industries (13.51%), Suzlon energy (8.73%), Siemens Ltd (8.33%), SKF India (7.49%), Crompton Greaves (6.69%) and Areva (6.14%).

The BSE Oil & Gas index gained 251.78 points to close at 6,774.28. Major gainers are Reliance Petroleum (5.92%), Reliance (5.73%), Cairn India (4.95 %), Aban Offshore (4.21%), Reliance Natural Resources (3.55%) and Essar Oil Ltd (2.73%).

The BSE Reality index ended up by 202.32 points at 2,632.93. Gainers are Indiabull Real (27.65%), Housing Development (19.14%), Mahindra Life (11.78%), Penland Ltd (9.20%), Orbit Co (6.78%) and Unitech Ltd (6.00%).

The BSE Metal index advanced by 214.40 points to close at 6,101.76. Major gainers are Tata Steel (10.20%), Sterlite Industries (8.59%), Sesa Goa Ltd (5.85%), Wespan Gujarat SR (5.07%), Hindustan Zinc (3.47%) and JSW Steel (2.17%).

The BSE Consumer Durable index surged 186.54 points to close at 2,271.82 as Titna Ind (17.39%), Videocon Ind (7.26%), Rajesh Export (6.52%), and Gitanjali GE (1.46%) ended in positive territory.

The IT index gained 165.37 points to close at 2,906.83 as TCS Ltd (12.86%), Tech Mahindra (11.51%), Oracle Fin (9.85%), Satyam Computer (9.84%), NIIT Ltd (8.42%) and HCL Tech (8.10%) in positive territory.

Mid Session Market - Oct 21, 2008

The market is trading higher on sustained buying across the board triggered by RBI''s move to cut short-term lending rate along with strong global cues. RBI cut its repo rate for the first time in 4.5 years on Monday by 100 basis points to 8.0% to soften the liquidity condition. Global markets lifted by the government’s efforts to push down short-term lending rates. Along with this Fed chairman Ben Bernanke indicated about another fiscal stimulus package and also expressed confidence in the government''s recent efforts to restore the financial system.

Domestic market is extending its gains on the back of buying in Oil & Gas, Capital Goods, Bank, Metal, IT, Reality, Consumer Durables and Power stocks. The BSE Sensex is trading around the 10,500 mark and the NSE Nifty is above the 3100. The BSE Mid Cap and Small Cap stocks are also on buyer’s radar.

On the global market front, the Asian markets are trading mostly higher and Japan leads the advance. The Nikkei 225 Average rose 1.8% to 9,170.27, Hang Seng Index was 0.3% up at 15,354.82 and China’s Shanghai Composite was up 0.4% at 1,982.60.

The overall market breadth is positive as 1512 stocks are advancing while 778 stocks are declining and the 59 stocks remained unchanged on BSE.

JP Associates reported the top gainer from the BSE Sensex pack as it was trading up by (14.03%) at Rs.77.2 followed by Satyam Computer higher by (7.60%) at Rs.310.95.

The BSE Mid cap is higher by 58.9 points at 3,565.26 and the BSE small Cap gained 69.7 points to trade at 4,182.55.

At 12.32 pm, BSE Sensex was at 10,494.61 up by 271 points and the NSE Nifty was at 3,179.25 higher by 53.4 points.

BSE Oil & Gas index is trading 282.27 points higher at 6,804.77 as Reliance (6.87%), Aban Offshore (6.13%), Essar Oil Ltd (5.98%) and Cairn Ind (5.87%) are trading in positive.

BSE Capital Goods index advanced by 268.32 points at 7,438.82 as Suzlon Energy (9.79%), Praj Indus (7.32%), SKF India (6.23%) and Punj Lloyd (6.10%) are trading in green.

BSE Bankex index is trading higher by 150.44 points at 5,846.16. Gainers are ICICI Bank (6.48%), Kotak Bank (3.94%), AXIS Bank (3.37%) and Canara Bank (2.85%).

BSE IT index advanced by 147.76 points to 2,889.22. The major gainers are Tech Mahindra (7.98%), Satyam Computer (7.58%), NIIT Ltd (6.77%) and TCS Ltd (6.21%).

BSE Metal index is trading up by 136.65 points to 6,024.01. The main gainers are Sterlite Indus (6.69%), Tata Steel (5.19%), Sesa Goa Ltd (3.54%) and Welspan Guajrat Sr (3.46%).

BSE Consumer Durables index inclined by 127.49 points to trade at 2,212.47 as Titan Ind (11.3%), Videocon Ind (5.66%), Gitanjali GE (4.73%) and Blue Star L (1.61%) are trading in positive.

BSE Reality index increased by 132.07 points to 2,562.88. Leading to its rise are Indiabull Real (15.99%), Housing Dev (10.37%), Mahindra Life (8.19%) and Orbit Co (7.42%).

BSE Power index was trading 65.77 points higher at 1,743.99. The main gainers are Suzlon Energy (9.73%), Reliance Infra (7.40%), Tata Power (5.92%) and Siemens Ltd (3.52%).

Pre Session Market - Oct 21, 2008

Today markets are likely to open positive as global effort to save the financial markets pave way for the positive sentiments across the US and Other Asian markets. The US markets have shown some sign of relief coupled with Asian and European markets which are also exuding some sign of improvement due to government support and intervention. The global factor looks good and in the domestic scenario our Hounarable Prime Minister Dr. Manmohan Singh has yesterday asserted in the parliament about the safety of public deposits with banks and the economic growth prospects of the country. Considering the overall positive sentiments across US, Europe and other Asian markets we expect today’s domestic markets to be trading positive uptrend.

On Monday, domestic markets opened positive on the back of positive trend in the Asian and European markets. After a phenomenal positive opening the investors throughout the trading session managed to keep the markets above the green line. IT, Banking stocks and FMCG lured the most as RBI reduced the Repo rate by 100bps at 8% and the Asian and European markets exuded positive sentiments. Realty sector was shattered, however IT, Banking and FMCG moved up by 8.05%, 2.69% and 2.08% respectively. During the trading session we expect the market to be trading green with an upward trend.

The BSE Sensex closed higher by 247.74 points at 10,223.09 and NSE Nifty ended up by 48.45 points at 3,122.80. The BSE Mid Caps and Small Caps closed with losses of 38.49 points at 3,506.35 and by 55.04 points at 4,112.82. The BSE Sensex touched intraday high of 10,538.05 and intraday low of 10,023.08.

On Monday, US markets showed some sign of relief and ended in green on the back of positive global cues and improving credit markets. The Credit markets have started showing some sign of improvement as the short term lending rates are declining. The difference between what banks pay each other for three-month loans and what the government pays, known as the TED Spread, declined 65 basis points to 2.96%. Further Ben Bernanke testified before the House Budget committee about the second fiscal stimulus package to save the current credit crisis.

On the global front Netherlands is injecting US$ 13 billion in ING and South Korea said that it would guarantee some of its foreign debt held by its domestic banks. Crude oil futures for the month of November delivery grew by $2.40 at $74.25 a barrel on New York Mercantile Exchange on expectations that OPEC will cut output later this week. Crude has fallen about 50% from its high of $147.27 on 11th July.
The Dow Jones Industrial Average (DJIA) closed higher by 413.21 points at 9,265.43. NASDAQ index also inclined by 58.74 points at 1,770.03 and the S&P 500 (SPX) was high by 44.85 points to close at 985.40 points.

Indian ADRs ended with positive gains. In technology sector, Wipro gained by (6.46%) followed by Satyam that ended high by (2.14%) and Patni Computers closing low by (1.79%). In banking sector ICICI Bank was high by (0.84%), while HDFC Bank gained (8.32%). In telecommunication sector, Tata Communication inclined by (9.46%), while MTNL gained by (4.47%). Sterlite Industries was high by (7.89%).

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading high by 8.28 points, at 1,982.29. Hang Seng is high by 87.91 points at 15,411.87. Further Japan''s Nikkei is high by 147.79 points at 9,153.38. Straits Times is trading is also trading high by 25.54 points at 1,969.69 and South Korea’s Seoul Composite is low by 1.66 points at 1,205.73.

The FIIs on Monday stood as net sellers in equity and debt. Gross equity purchased stood at Rs2234.30 Crore and gross debt purchased stood at Rs111.40 Crore, while the gross equity sold stood at Rs3101.80 Crore and gross debt sold stood at Rs113.10 Crore. Therefore, the net investment of equity and debt reported were (Rs867.60 Crore) and (Rs1.70 Crore) respectively.

On Monday, the partially convertible rupee ended at 48.98/99 per dollar, 0.2% weaker than Thursday''s close of 48.88/89. The rupee fell to level of 49.20 during the trading. Rupee ended down as large dollar demand from importers compensates gains in domestic market. Whereas, RBIs cut in key lending rate provided a little relief.

On BSE, total number of shares traded was Rs. 23.50 crores and total turnover stood at Rs. 3,697.57 crores. On NSE, total volume of shares traded was Rs. 50.61 crores and total turnover was Rs 10,071.23 crores.

Top traded volumes on NSE Nifty – Reliance Petro with total traded volume of 20326517 shares, followed by Unitech with 12379471 shares, Suzlon with 10675148 shares, NTPC with 10379115 shares and Unitech with ICICI bank with 10096403 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 961370 with a total turnover of Rs 14478.77 Crore. Along with this total number of contracts traded in stock futures were 890607 with a total turnover of Rs 10865.52 Crore. Total numbers of contracts for index options were 1010336 and total turnover was Rs 17649.39 Crore and total numbers of contracts for stock options were 53540 and notional turnover was Rs 773.45 Crore.

Today, Nifty would have a support at 3,120 and resistance at 3,325 and BSE Sensex has support at 10,250 and resistance at 10,750.

Post Session Market - Oct 20, 2008

From previous week''s sharp sell off, today domestic markets have rebounded but in a tepid manner. Markets opened with positive note tracking favorable cues from Asian markets that gave a fillip to the sentiments of domestic investors. However, markets pared some of its gains after initial surge, due to fears of recession lingering. The indices were about to loose all its gains in the mid session and there came a surprise from RBI with 100 bps cut in the repo rate to 8%. Nevertheless, markets closed with gains on value buying over the counters led by positive response from Asian and European market.

BSE Sensex ended above 10,200 level along with NSE Nifty above 3,100 mark. Markets managed to end the day in green zone but were below the days high. European markets also added to the positive sentiments as they opened gap up and continued to trade in green. On the sectoral front, The IT stocks outperformed the benchmark index with gains of more than 8%. Along with this, Bank, Metal, Oil & Gas and FMCG stocks were in limelight as witnesses most of the buying from these baskets. However, Reality, Capital Goods, Power and Auto stocks remained out favor. Midcap and Smallcap stocks also followed the same trend and ended with loss of more than 1% each.

Among the Sensex pack 20 stocks ended in positive terrain while 10 in red. The market breadth was negative as 1643 stocks closed in red while 920 stocks closed in green and 53 stocks remained unchanged.

The BSE Sensex closed higher by 247.74 points at 10,223.09 and NSE Nifty ended up by 48.45 points at 3,122.80. The BSE Mid Caps and Small Caps closed with losses of 38.49 points at 3,506.35 and by 55.04 points at 4,112.82. The BSE Sensex touched intraday high of 10,538.05 and intraday low of 10,023.08.

Gainers from the BSE Sensex pack are TCS Ltd (9.47%), Wipro Ltd (8.95%), Satytam Computer (8.67%), Infosys Tech (7.92%)), HDFC Bank (12.74% HDFC Bank (5.94%),), HDFC (5.73%), L&T Ltd (11.15%) ICICI Bank (4.95 %), Bharti Airtel (4.62%), ITC Ltd (4.07%) and MAruti Suzuki (2.67%).

Losers from BSE Sensex pack are Bhel (5.24%), Grasim Industries (7.96%), DLF Ltd (6.40%), ACC Ltd (6.13%), M&M Ltd (5.39%), Tata Power (3.72%) and Reliance Infra (1.87%).

The IT index gained 204.19 points to close at 2,471.46 as HCL Tech (10.23%), Rolta India (9.74%), TCS Ltd (9.47%), Wipro Ltd (8.95%), Satytam Computer (8.67%) and Infosys Tech (7.92%) in positive territory.

The BSE Bank index advanced 149.03 points to close at 5,695.72. Major gainers are HDFC Bank (5.94%), Canara Bank (5.05%), ICICI Bank (4.95 %), Yes Bank (3.26%), Bank of Baroda (2.80%) and Indian Overseas Bank (2.04%).

The BSE Metal index went up by 85.65 points to close at 5,887.36. Major gainers are Steel Authority (7.05%), JSW Steel (5.79%), Gujarat NRE (4.05%), Hindalco (1.95%), Ispat Indus (1.89%) and Tata Steel (1.75%).

The BSE Pharma index surged 51.47 points to close at 3,260.49 as Dr Reddy’s Lab (9.09%), Sun Pharma (7.02%), Lupin Ltd (4.57%), Glenmark Pharma (3.07%), Wockhardt Ltd(2.84%), and Aurobindo Pharma (2.18%) ended in positive territory.

The BSE Reality index ended down by 94.28 points at 2,430.61. Losers are Orbit Co (8.67%), Parsvnath (7.80%), DLF Ltd (6.40%), Omaxe Ltd (5.78%), Unitech Ltd (5.66%) and Ansal Infra (5.59%).

The BSE Capital Goods index closed lower by 70.86 points at 7,170.50. Losers are BHEL (8.24%), Elecon Eng C (4.95%), Alstom Proje (4.45%), Havell’s India (4.21%), Usha Martin (4.06%) and Walchand Industries (3.38%).

Mid Session Market - Oct 20, 2008

The markets are trading firm with a gain of more than 3% as benchmark indices are witnessing buying interest after rebounding from previous weeks loses. Domestic market is higher on favorable cues from Asian indices and significant buying in beaten down stocks. All indices are trading in green and IT stocks outperformed the benchmark index as trading with gain of more than 7%. Apart from that strong buying pressure is continued in the Metal, Oil & Gas, Bank, Capital Goods, FMCG, Power and Pharma stocks. The BSE Sensex is trading above the 10,400 mark and the NSE Nifty is above the 3200. The BSE Mid Cap stocks are also on buyer’s radar. However, the BSE Small Cap stocks are out of favor as trading in red.

On the global market front, the Asian markets are trading up. The Hang Seng Index jumped 4% to 15,133.43 in afternoon trading, along with Nikkei 225 Average rose 2.8% to 8,937.98 and Singapore''s Straits Times index increased 2.1% to 1,918.08.

The overall market breadth is negative as 1279 stocks are declining while 1047 stocks are advancing and the 65 stocks remained unchanged on BSE.

Wipro Ltd reported the top gainer from the BSE Sensex pack as it was trading up by (10.05%) at Rs.283.5 followed by Reliance Com Ltd higher by (8.19%) at Rs.253.1.

The BSE Mid cap is higher by 14.2 points at 3,559.14 while the BSE small Cap lost 4 points to trade at 4,163.84.

At 12.30 pm, BSE Sensex was at 10,439.24 up by 463 points and the NSE Nifty was at 3,208.8 higher by 128 points.

BSE Metal index is trading up by 273.16 points to 6,074.87. The main gainers are Sterlite Indus (7.99%), Hindalco (6.15%), Steel Authority (6.15%) and Tata Steel (5.32%).

BSE Oil & Gas index is trading 245.20 points higher at 6,724.76 as Cairn India (9.34%), Essar Oil Ltd (5.93%), ONGC Ltd (4.91%) and Reliance (3.89%) are trading in positive.

BSE Bankex index is trading higher by 231.41 points at 5,778.10. Gainers are HDFC Bank (6.44%), ICICI Bank (6.27%), AXIS Bank (2.54%) and Bank of Baroda (2.38%).

BSE IT index advanced by 201.40 points to 2,738.67. The major gainers are Wipro Ltd (10.15%), HCL Tech (9.28%), Rolata India (8.26%), Infosys Tech (8.02%) and TCS Ltd (7.96%).

BSE Capital Goods index advanced by 161.64 points at 7,403 as Siemens Ltd (7.06%), ABB Ltd (5.92%), Punj Lloyd (5.36%) and Gammon Indi (3.90%) are trading in green.

BSE FMCG index increased by 59.85 points to 1,918.84. Leading to its rise are ITC Ltd (5.17%), HUL (3.59%), United Spr (1.74%) and Godrej Cons (1.61%).

BSE Pharma index inclined by 42.70 points to trade at 3,251.72 as Sun Pharma (5.90%), Aurobindo Pharma (4.04%), Ranbaxy Lab (3.81%) and Dr Reddy’s Lab (3.69%) trading in positive.

BSE Power index was trading 33.70 points higher at 1,745.97. The main gainers are Siemens Ltd (7.43%), ABB ltd (6.72%), Reliance Infra (5.35%) and Suzlon Energy (3.13%).

Pre Session Market - Oct 20, 2008

Today Markets are likely to open positive today as enough carnage was seen on Friday when the Sensex breached the 10k support level. After some value buying we expect the markets to be trading volatile during the day. The support level of 10k is blown up and therefore sentiment of investors about the next support level is in dark. There is not much good or bad news in the macro economic environment, which could move the markets in the red or green. Therefore the movements of the markets now would totally depend on the sentiments prevailing amongst the investors. The government’s credit policy is yet to come by the end of this week and till then the markets would probably trade volatile.

On Friday, domestic Markets opened positive and remained volatile until after the post mid session when it started diving in the deep red territory. The volatility was extreme and the positive sentiments crumbled after the post mid session. The sentiments were very negative despite positive cues from the European markets which traded in green. The closing of the week brought cautiousness and hence traders booked their positions. Realty, Power and Metal stocks were brutally shattered which brought the Sensex down below 10000 mark. The sectors hit hard were Realty, Power, Metal, Teck and CG that recorded fall of 10.25%, 8.09%, 6.12%, 5.91% and 5.52% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed lower by 606.14 points at 9,975.35 and NSE Nifty ended down by 194.95 points at 3,074.35. The BSE Mid Caps and Small Caps closed with loss of 112.29 points at 3,544.84 and by 118.50 points at 4,167.86. The BSE Sensex touched intraday high of 10,786.93 and intraday low of 9,911.32.
On Friday, US markets ended in the red territory with। The negative sentiments occurred due to the data released indicating weak U.S. housing. Housing starts in September fell 6.3% well below the expectations to an annualized rate of 817,000 units. This was considered to be the lowest level since January 1991. Further building permits dropped 8.3% to an annualized rate of 786,000. The weak housing sector is expected to weaken the GDP growth and may also spur write downs at financial firms. However on the other hand, the latest quarterly results of IT sector were much better than the expectations.

Companies like Google, Advanced Micro Devices and Honeywell surprised the market with better than expected Results. Warren Buffet also made a public statement that he has been picking up stocks to add on his portfolio as stocks look very attractive at the current rates. Crude oil futures for the month of November delivery rose by $1.34 a barrel by at $73.19 a barrel on New York Mercantile Exchange. This rise in crude oil price happened after OPEC confirmed about reducing the oil production to support the price level. OPEC produces nearly 40% of the world’s oil.


The Dow Jones Industrial Average (DJIA) closed lower by 127.04 points at 8,852.22. NASDAQ index also declined by 6.42 points at 1,711.29 and the S&P 500 (SPX) was low by 5.88 points to close at 940.55 points.

Indian ADRs ended mixed. In technology sector, Wipro gained by (7.95%) followed by Satyam that ended low by (1.06%) and Patni Computers was low by (2.78%). In banking sector ICICI Bank was high by (9.93%), while HDFC Bank fell (5.79%). In telecommunication sector, Tata Communication declined by (7.79%), while MTNL fell by (2.25%). Sterlite Industries was low by (6.99%).

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading low by 14.10 points, at 1,916.55. Hang Seng is high by 411.63 points at 14,936.33. Further Japan''s Nikkei is high by 129.27 points at 8,823.09. Straits Times is trading is also trading high by 33.96 points at 1,912.47 and South Korea’s Seoul Composite is high by 7.77 points at 1,188.52.

The FIIs on Friday stood as net sellers in equity and debt. Gross equity purchased stood at Rs2233.60 Crore and gross debt purchased stood at Rs179.70 Crore, while the gross equity sold stood at Rs4144.90 Crore and gross debt sold stood at Rs473.80 Crore. Therefore, the net investment of equity and debt reported were (Rs1911.30 Crore) and (Rs 294.00 Crore) respectively.

On Friday, the partially convertible rupee dropped to 48.88/89 per dollar, its lowest close since June 25, 2002 weaker than Thursday''s close of 48.82/83. The rupee fell to its lowest close in more than six years on Friday, on domestic market losses rising concern of capital outflows.

On BSE, total number of shares traded was 25.26 crores and total turnover stood at Rs 4,134.51 crores. On NSE, total volume of shares traded was 51.66 crores and total turnover was Rs 10,486.83 crores.

Top traded volumes on NSE Nifty – ICICI bank with total traded volume of 19613823 shares, followed by Suzlon with 14605181 shares, NTPC with 12227954 shares, Reliance Petro with 10959820 shares and Unitech with 10332369 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 1194841 with a total turnover of Rs 18098.12 Crore. Along with this total number of contracts traded in stock futures were 1107650 with a total turnover of Rs13495.7 Crore. Total numbers of contracts for index options were 1332782 and total turnover was Rs23404.65 Crore and total numbers of contracts for stock options were 60627 and notional turnover was Rs 894.25 Crore.

Today, Nifty would have a support at 2,910 and resistance at 3,220 and BSE Sensex has support at 9,750 and resistance at 10,650.

Post Session Market - Oct 17, 2008

The domestic market on Friday ended in deep red after paring all its initial gains on aggressive selling pressure across board led by unabated fears of a sharp global economic slowdown. It was terrible day for the market as BSE Sensex touched the lowest level since July 2006 and finally broken the psychological level of 10,000 along with NSE Nifty ended below 3,100 mark. The market started the day on pleasant note tracking global cues as US markets rebounded sharply in yesterday''s trade on the weekly jobless claims that were lower than anticipated. Filings for jobless benefits declined by 16,000 to 461,000, which was below the consensus 470,000 claims.

Market was not able to sustain the momentum and turned volatile following mixed global cues along with worries about a gloomy outlook for the world economy and sluggish corporate earnings. Till afternoon market swung between positive and negative terrain as investors searched for direction.Further market continued to slip sharply to conclude the day with huge loses as trading in US index futures suggested the Dow would fall at the opening bell. Market was extremely under pressure despite positive opening of European markets.

On the sectoral front, all indices ended in red and among those Reality stocks underperformed the benchmark index as ended with deep cut of more than 10%. Apart from that most of the selling pressure was led by Capital Goods, Oil & Gas, Bank, Power and IT stocks.

Among the Sensex pack all 30 stocks ended in red. The market breadth was negative as 1877 stocks closed in red while 719 stocks closed in green and 56 stocks remained unchanged on BSE.

The BSE Sensex closed lower by 606.14 points at 9,975.35 and NSE Nifty ended down by 194.95 points at 3,074.35. The BSE Mid Caps and Small Caps closed with loss of 112.29 points at 3,544.84 and by 118.50 points at 4,167.86. The BSE Sensex touched intraday high of 10,786.93 and intraday low of 9,911.32.

Losers from BSE Sensex pack are Reliance Infra (11.96%), JP Associates (10.70%), DLF Ltd (10.34%), NTPC Ltd (9.68%), Reliance Communication Ltd (9.64%), BHEL (9.00%), Sterlite Industries (8.82%), SBI (8.42%), TCS Ltd (8.29%), Tata Steel (7.99%) and Hincalco (7.96%).

The BSE Capital Goods index closed lower by 423.44 points at 7,241.36. Losers are Jyoti Structure (11.76%), Punj Lloyd (9.80%), Siemens Ltd (9.49%), BHEL (9.00%), Walchand Industries (8.16%) and Suzlon Energy (7.80%).

The BSE Metal index tumbled 378.16 points to close at 5,801.71. Major losers are Guajrat NRE C (21.52%), Sterlite Industries (8.82%), Welspan Gujarat SR (8.36%), Tata Steel (7.99%), Hindalco (7.96%) and Nalco (7.07%).

The BSE Oil & Gas index plunged 348.21 points to close at 6,479.56 as Essar Oil Ltd (10.36%), Aban Offshore (8.80%), Reliance Petroleum (8.12%), Reliance (6.58%) and Reliance Natural Resources (5.05%) ended in negative territory.

The BSE Bank index ended down by 320.07 points at 5,546.69. Losers are Kotak Bank (8.75%), SBI (8.42%), Indus Ind Bank (5.90%), HDFC Bank (5.82%), ICICI Bank (5.61%) and Union Bank (5.20%).

The BSE Reality index lost 288.37 points to close at 2,524.89. Major losers are Orbit Co (14.87%), Indiabull Real (14.16%), Unitech Ltd (12.44%), Penland Ltd (12.10%), Ansal Infrasturct (11.41%) and Parsvnath (11.30%).

The Power index went down by 150.74 points to close at 1,712.37 as Reliance Infra (11.96%), Lanco Infra (10.33%), NTPC Ltd (9.68%), Siemens Ltd (9.49%), BHEL (9.00%) and Suzlon Energy (7.80%) in negative territory.

Mid Session Market - Oct 17, 2008

The market is trading marginally lower after paring its initial gains. Domestic market is showing volatility following mixed global cues along with worries about a gloomy outlook for the world economy. However inflation for the week ended 4th October 2008, reduced to 11.44% as against the previous week’s 11.80% mainly due to cooling off global commodity prices. Most of the selling is observed in the Bank, Capital Goods, Reality, Power and Consumer Durables stocks. However buying is seen in Oil & gas, IT, Metal and FMCG stocks. The BSE Sensex is trading below the 10,600 mark and the NSE Nifty is below the 3300. The BSE Mid Cap and the BSE Small Cap stocks are able to gain market favor and are trading marginally higher.

On the global market front, the Asian markets are trading mixed. Nikkei rebounded from its earlier losses and rose 2.1% to 8,636.86, while Hang Seng index lost 0.3% to 15,180.88 and Kospi index plunged 1.6% to 1,194.71.

The overall market breadth is positive as 1180 stocks are advancing while 1101 stocks are declining and the 70 stocks remained unchanged on BSE.

Reliance Infra reported the top loser from the BSE Sensex pack as it was trading down by (4.74%) at Rs.531 followed by NTPC Ltd lower by (4.46%) at Rs.158.4.

Wipro Ltd reported the top gainer from the BSE Sensex pack as it was trading up by (2.9%) at Rs.285.9 followed by TCS Ltd higher by (2.58%) at Rs.508.

The BSE Mid cap is higher by 17.6 points at 3,674.81 and the BSE small Cap gained 15.9 points to trade at 4,302.33.

At 12.30 pm, BSE Sensex was at 10,578.04 down by 3.4 points and the NSE Nifty was at 3,267.65 lower by 1.6 points.

BSE Bankex index is trading down by 96.37 points at 5,770.39. Losers are Kotak Bank (3.95%), ICICI Bank Ltd (3.45%), SBI (2.58%) and Karnataka Bank (2.16%).

BSE Capital Goods index dropped by 68.70 points at 7,596.10 as BHEL (4.80%), Praj Indus (4.20%), Bharat Elect (3.69%) and Siemens Ltd (3.26%) are trading in red.

BSE Reality index was trading 53.77 points lower at 2,759.49. The main losers are Anant Raj (5.28%), Unitech Ltd (5.12%), Akruti City (2.70%) and Ansal Infra (2.41%).

BSE Consumer Durables index declined by 47.43 points to trade at 2,093.47 as Titan Ind (3.51%), Gitanjali GE (3.27%), Videocon Ind (2.40%) and Rajesh Export (0.62%) trading in negative.

BSE Power index decreased by 46.97 points to 1,816.04. Leading to its fall are NTPC Ltd (5.13%), Reliance Infra (4.92%), BHEL (4.65%) and Lanco Infra (3.99%).

BSE Oil & Gas index is trading 76.56 points up at 6,904.33 as HPCL (9.14%), IOC (7.52%), BPCL (6.19%) and Cairn Ind (5.73%) are trading in positive.

BSE Metal index is trading higher by 43.59 points to 6,223.46. The main gainers are Ispat Indus (4.73%), Nalco (3.83%), Welspan Gujarat SR (2.92%) and Jindal Saw (2.37%).

BSE IT index gained 39.76 points to trade at 2,708.93. The major gainers are HCL Tech (6.64%), Rolta India (3.67%), Tech Mahindra (3.50%) and Moser Bayer (3.20%).

Pre Session Market - Oct 17, 2008

Today Markets are likely to open positive as other markets around the world have shown some sign of bearish relief. On the domestic arena the selling pressure eased off on the second half session yesterday. Therefore today one can expect the market to be a little volatile amidst concerns of domestic as well as other market sentiments in Asia and Europe. The inflation too has eased off as wholesale price index reduced to 11.44% for the week ended 4th October 2008, as against the previous week''s 11.80% mainly due to cooling off global commodity prices. On the other hand despite the inflationary pressures RBI is infusing Rs.1,45,000 Crore to bring healthy liquidity conditions in the banking and financial sector. The domestic macro economic condition looks normal but the markets are very unpredictable as investors are very skeptic about the economic slowdown across the world and its recoupling effect on the domestic economy.

On Thursday, domestic Markets opened with heavy blood bath on the back of huge selling pressures; however after the post mid session it managed to rebound. The wide gap opening was well expected as the Asian markets had started the carnage with blood bath in the opening. The markets looked like a V shape trend after a dreadful opening in the morning. However in the second half the markets recovered swiftly on the back of short covering and value buying on some of the brutally shattered stocks. The sectors hit hard were Oil & Gas, CG, IT, Auto and Power that recorded fall of 5.57%, 5.23%, 3.99%, 3.43% and 2.24% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed lower by 227.63 points at 10,581.19 and NSE Nifty ended down by 69.1 points at 3,369.3. The BSE Mid Caps and Small Caps closed with loss of 63.35 points at 3,657.13 and by 107.09 points at 4,286.36. The BSE Sensex touched intraday high of 10,787.2 and intraday low of 10,017.8.

On Thursday, US markets ended in green as the weekly jobless claims were lower than anticipated. Filings for jobless benefits declined 16,000 to 461,000, which was below the consensus 470,000 claims. However on the financial sector Citigroup and Merrill Lynch posted losses for the latest quarter. The industrial production for September decreased by 2.8%, the largest ever decline since 1974. However despite the good as well as bad news the US markets managed to end in green after a highly volatile trading session. Crude oil futures for the month of November delivery fell a barrel by $4.69 at $69.85 a barrel on New York Mercantile Exchange, lowest since 23rd August 2007. Oil dropped below $70 a barrel after the government reported massive increases in US crude and gasoline stockpiles.

The Dow Jones Industrial Average (DJIA) closed higher of 401.35 points at 8,979.26. NASDAQ index gained 89.38 points at 1,717.71 and the S&P 500 (SPX) also advanced by 38.59 points to close at 946.43 points.

Indian ADRs ended mixed. In technology sector, Wipro gained by (1.14%) followed by Satyam that ended low by (2.41%) and Patni Computers was low by (4.33%). In banking sector ICICI Bank was high by (3.85%), while HDFC Bank gained (11.76%). In telecommunication sector, Tata Communication inclined by (11.85%), while MTNL gained by (7.72%). Sterlite Industries gained by (7.32%).

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading high by 10.188 points, at 1,920.129. Hang Seng is also low by 80.39 points at 15,150.13. Further Japan''s Nikkei is high by 129.66 points at 8,588.11. Straits Times is trading is also trading low by 5.77 points at 1,945.43 and South Korea’s Seoul Composite is low by 17.56 points at 1,196.22.

The FIIs on Thursday stood as net sellers in equity and net buyers in debt. Gross equity purchased stood at Rs2041.80 Crore and gross debt purchased stood at Rs282.70 Crore, while the gross equity sold stood at Rs2882.50 Crore and gross debt sold stood at Rs204.40 Crore. Therefore, the net investment of equity and debt reported were (Rs840.70 Crore) and Rs 78.20 Crore respectively.

On Thursday, the partially convertible Indian Rupee ended at 48.82/83 per dollar weaker than Wednesday''s close of 48.52/54. In early deals it fell to low of 49.05 as losses in the domestic stock market raised concerns that FIIs would withdraw more funds.

On BSE, total number of shares traded was 29.52 crores and total turnover stood at Rs 4552.41 crores. On NSE, total volume of shares traded was 61.86 crores and total turnover was Rs 12397.5 crores.

Top traded volumes on NSE Nifty – ICICI bank with total traded volume of 21251234 shares, followed by Suzlon with 20563348 shares, Reliance Petro with 16467067 shares, Reliance Comm with 13520391 shares and ITC with 10897266 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 1194841 with a total turnover of Rs18098.12 Crore. Along with this total number of contracts traded in stock futures were 1107650 with a total turnover of Rs13495.7 Crore. Total numbers of contracts for index options were 1332782 and total turnover was Rs23404.65 Crore and total numbers of contracts for stock options were 60627 and notional turnover was Rs894.25 Crore.

Today, Nifty would have a support at 3,215 and resistance at 3,430 and BSE Sensex has support at 10,450 and resistance at 11,150.

Mid Session Market - Oct 16, 2008

The market is trading extremely weak tracking negative cues from global markets। Domestic market opened lower as worries about global recession along with economic fears once again raised its head.Finance Minister P Chidambaram’s announcement to enhance liquidity by allowing corporate to bring more money from foreign investors and taking steps to further strengthen banking system along with RBI’s cut in CRR by 100 bps to 6.5%, is not able to help the sentiment.

All sectoral indices are trading down and most of the selling is witnessed in the Capital Goods, Oil & Gas, Metal, Bank, IT, Auto and Reality stocks.The BSE Sensex is trading around the 10,100 mark and the NSE Nifty is below the 3200. he BSE Mid Cap and the BSE Small Cap stocks also are also continuing to lose ground as trading with loss of more than 5% each.

On the global market front, the Asian markets dropped severely, down about 4-11%. Nikkei dropped 10% followed by Hang Seng index lost 7.6% along with Singapore''s Straits Times index shed 6.6% and % Taiwan Weighted plunged 3.3%.

The overall market breadth is negative as 2102 stocks are declining while 259 stocks are advancing and the 53 stocks remained unchanged on BSE.

Hindalco reported the top loser from the BSE Sensex pack as it was trading down by (11.65%) at Rs.70.15 followed by TCS Ltd lower by (11.23%) at Rs.481.2.

The BSE Mid cap is lower by 198 points at 3,521.89 and the BSE small Cap lost 252 points to trade at 4,140.47.

At 12.30 pm, BSE Sensex was at 10,102.56 down by 706 points and the NSE Nifty was at 3,129 lower by 209 points.

BSE Capital Goods index dropped by 624.91 points at 7,463.1 as Suzlon Energy (13.38%), Walchand Industries (12.33%), L&T Ltd (9.63%), Lakshmi MA W (8.46%) and Jyoti Struct (8.37%) are trading in red.

BSE Oil & Gas index is trading 585.84 points down at 6,645.03 as Aban Offshore (14.18%), Reliance (11.38%), Cairn Ind (10.3%) and Essar Oil Ltd (10.3%) are trading in negative.

BSE Metal index is trading lower by 439.02 points to 5,876.83. The main losers are Hindalco (11.46%), JSW Steel (11.42%), Welspan Gujarat SR (10.88%) and Nalco (9.73%).

BSE Bankex index is trading down by 289.23 points at 5,552.37. Losers are Yes Bank (9.04%), HDFC Bank Ltd (6.84%), Karnataka Bank (6.18%) and ICICI Bank Ltd (5.47%).

BSE IT index lost 249.02 points to trade at 2,531.17. The major losers are Financ Tech (13.93%), Oracle Fin (11.38%), TCS Ltd (11.15%) and Wipro Ltd (10%).

BSE Auto index declined by 217.11 points to trade at 3,092.35 as Amtech Auto (14.66%), Tata Motors (12.53%), Escorts Ltd (10.12%) and Bosch Ltd (9.21%) trading in negative.

BSE Reality index was trading 202.71 points lower at 2,472.77. The main losers are Anant Raj (14.67%), Orbit Co (14.29%), Indiabull Real (14.24%) and Pheonix Mill (12.12%).

BSE Power index decreased by 132.85 points to 1,772.87. Leading to its fall are Suzlon Energy (12.75%), Lanco Infra (11.3%), Tata Power (9.3%) and Reliance Infra (8.06%).

Pre Session Market - Oct 16, 2008

Today Markets are likely to open with negative gap as the US markets closed in deep red and other Asian markets have also opened with blood bath. The domestic financial industry is likely to get a cushion against the foreign economic meltdown as RBI has further reduced the CRR by 100bps to 6.50%. The RBI is all set to lend a whopping Rs.250 billion into the banking sector so as to provide enough liquidity in the system. However today except the banking sector other sectors are likely to face huge selling pressure amidst global meltdown concerns.

On Wednesday, domestic Markets opened with heavy blood bath on the back of huge selling pressures that started since the previous post mid session trading. The Asian markets started the carnage as majority of Asian indices except Nikkei open with blood bath. This negative sentiment poured oil to the burning bearish sentiment in the domestic markets. The investors were very skeptic about any base or support level of the market and hence the insecurity felling led heavy selling pressures. The sectors that got ablaze were CG, CD, Metal, Teck and Power that recorded fall of 8.88%, 8.79%, 7.82%, 6.03% and 6.02% respectively. During the trading session we expect the market to be trading in deep red.

The BSE Sensex closed lower by 674.28 points at 10,809.12 and NSE Nifty ended down by 180.25 points at 3,338.40. The BSE Mid Caps and Small Caps closed with losses of 171.55 points at 3,720.48 and by 222.44 points at 4,393.45. The BSE Sensex touched intraday high of 11,257.15 and intraday low of 10,760.33.

On Wednesday, US markets got butchered on the back of weak economic concerns. The Retail sales in US plummeted by 1.2%, the lowest in three years time. Further Fed Chairman Ben Bernake ad the release of Fed’s Beige Book brought negative sentiments with assertions that the recovery from the present scenario would take time. The energy sector was hit the hardest due to concerns of fall in demand. The good quarterly numbers of many companies could not save the market from the downfall, which shows cues of inevitable bearish and cautious sentiments. Crude oil futures for the month of November delivery fell a barrel by $4.09 at $74.54 a barrel on New York Mercantile Exchange, lowest since 5th September 2007. Oil dropped below $ 75 a barrel as OPEC reduced its 2009 petroleum demand forecast in the course of signs that the global economy is headed for a severe downturn

The Dow Jones Industrial Average (DJIA) closed with a fall of 733.08 points at 8577.91. NASDAQ index fell by 150.68 points at 1628.33 and the S&P 500 (SPX) also declined by 90.17 points to close at 907.84 points.

Indian ADRs ended with blood bath. In technology sector, Wipro fell by (11.54%) followed by Satyam that ended low by (5.21%) and Patni Computers was low by (5.21%). In banking sector ICICI Bank was low by (9.69%), while HDFC Bank fell (14.19%). In telecommunication sector, Tata Communication declined by (10.32%), while MTNL fell by (13.21%). Sterlite Industries had fallen the most by (16.85%).

Today the major stock markets in Asia opened negative. The Shanghai Composite is low by 79.366 points, trading at 1,915.301. Hang Seng is also low by 1207.44 points at 14,790.86. Further Japan''s Nikkei is low by 911.91 points at 8,635.56. Straits Times is trading is also trading low by 132.26 points at 1,927.13 and South Korea’s Seoul Composite is low by 92.79 points at 1,247.49.

The FIIs on Wednesday stood as net sellers in equity and net buyers in debt. Gross equity purchased stood at Rs3789.3 Crore and gross debt purchased stood at Rs95.3 Crore, while the gross equity sold stood at Rs3978.4 Crore and gross debt sold stood at Rs0.0 Crore. Therefore, the net investment of equity and debt reported were (Rs189.1 Crore) and Rs95.3 Crore respectively.

On Wednesday, the partially convertible Indian Rupee ended at 48.525/540 per dollar weaker than 48.04/06 on Tuesday’s closing. The Rupee fell on the back of falling stock markets across the world and also apprehensions of the offshore Dollar demand. The RBI is selling Dollars in the market to help resist the further rise in Rupee Dollar exchange rate.

On BSE, total number of shares traded were 22.26 crores and total turnover stood at Rs3,581.21. On NSE, total volumes of shares traded were 45.35 crores and total turnover was Rs9,748.04 Crore.

Top traded volumes on NSE Nifty – ICICI bank with total traded volume of 10262551 shares, followed by ITC with 9602501 shares, Reliance Comm with 9090589 shares, SAIL with 8634820 shares and Reliance Petro with 8188876 shares respectively.

On NSE Future and Options, total numbers of contracts traded in index futures were 862941 with a total turnover of Rs13767.49 Crore. Along with this total number of contracts traded in stock futures were 800400 with a total turnover of Rs10227.85 Crore. Total numbers of contracts for index options were 1063789 and total turnover was Rs19371.11 Crore and total numbers of contracts for stock options were 43442 and notional turnover was Rs629.64 Crore.

Today, Nifty would have a support at 3,125 and resistance at 3,320 and BSE Sensex has support at 10,200 and resistance at 10,675.

Post Session Market - Oct 15, 2008

The markets extended its fall to more than 5% on Wednesday to close in deep red on growing worries about liquidity condition and a looming global recession. RBI’s extension for banks'' special short-term lending (repo) facility to mutual funds was unable to lift the sentiments. European markets also weighed on the sentiments as extended its losses to trade weak. BSE Sensex ended below 10,900 level along with NSE Nifty below 3,300 mark. Domestic market opened sharply lower on negative global cues as fears of slowdown in the economy have gripped global markets. US government’s move to infuse another $250 billion in the system failed to avert the slide on the bourses.

Worries about the earning also crept in after government''s plan to buy stakes in the nation''s largest financial institutions that are crashed. Further market continued its downward journey and benchmark indices crushed badly. Finally, extremely negative pressure forced market to close with huge losses. On the sectoral front, all sectoral indices ended down and Capital Goods and Consumer Durable stocks underperformed the benchmark index as closed with cut of more than 8% each. Apart from that heavy selling was witnessed in the Metal, Oil & Gas, Bank, IT and Reality stocks. Midcap and Smallcap stocks also followed the same trend and ended with deep cut of more than 4% each.

Among the Sensex pack all 30 stocks ended in red. The market breadth was negative as 2117 stocks closed in red while 499 stocks closed in green and 39 stocks remained unchanged on BSE.

The BSE Sensex closed lower by 674.28 points at 10,809.12 and NSE Nifty ended down by 180.25 points at 3,338.40. The BSE Mid Caps and Small Caps closed with loss of 171.55 points at 3,720.48 and by 222.44 points at 4,393.45. The BSE Sensex touched intraday high of 11,257.15 and intraday low of 10,760.33.

Losers from BSE Sensex pack are JP Associates (14.47%), Reliance Communication Ltd (12.24%), Reliance Infra (12.11%), L&T Ltd (11.01%), Tata Steel (10.35%), Sterlite Industries (10.11%), TCS Ltd (8.46%), ICICI Bank (7.36%), HDFC (6.90%), Hindalco (6.70%) and BHEL (6.28%).

The BSE Capital Goods index closed lower by 788.19 points at 8,088.01. Losers are Areva (14.37%), Punj Lloyd (13.30%), Crompton Greaves (12.65%), Thermax Ltd (12.12%), L&T Ltd (11.01%) and Usha Martin (9.77%).

The BSE Metal index tumbled 535.86 points to close at 6,315.85. Major losers are Welspan Guajrat Sr (13.34%), JSW Steel (11.12%), Jindal Steel (10.56%), Tata Steel (10.35%), Sterlite Industries (10.11%) and Ispat Industries (6.80%).

The BSE Oil & Gas index went down by 392.53 points at 7,230.87 as Essar Oil Ltd (16.23%), Aban Offshore (13.23%), Cairn India (7.10%), Reliance (6.20%) and Reliance Natural Resources (5.09%) ended in negative territory.

The BSE Consumer Durables index ended down by 204.91 points at 2,125.85. Losers are Titan Ind (14.05%), Videocon Ind (9.14%), Gitanjali Ge (5.40%), Rajesh Export (4.97%) and Blue Star L (0.62%).

The BSE Bank index dropped 196.47 points to close at 5,841.60. Major losers are ICICI Bank (7.36%), Yes Bank (6.18%), Karnataka (6.01%), DrIndus Ind Bank (5.99%), Indian Overseas Bank (5.53%) and IDBI Bank (4.67%).

The IT index lost 159.68 points to close at 2,780.19 as Aptech Ltd (16.50%), Moser Bayer (15.34%), Tech Mahindra (11.30%), TCS Ltd (8.46%), NIIT Ltd (8.28%) and Oracle Fin (8.20%) in negative territory

Mid Session Market - Oct 15, 2008

The market continues to trade lower on account of heavy selling pressure observed across the board led by the profit booking. Domestic market opened weak on negative global cues as fears of slowdown in the economy have gripped global markets. US government’s move to infuse another $250 billion in the system failed to lift sentiments. Worries about the earning also crept in after government''s plan to buy stakes in the nation''s largest financial institutions that are crashed. All sectoral indices are trading down and Capital Goods stocks underperformed the benchmark index as trading with cut of more than 7%. Apart from that heavy selling is witnessed in the Metal, IT, Consumer Durable and Auto stocks. The BSE Sensex is trading below the 11,100 mark and the NSE Nifty is around the 3400. The BSE Mid Cap and the BSE Small Cap stocks also are also continuing to lose ground as trading with loss of more than 3% each.

On the global market front, the Asian markets dropped on concern that the rescue would come at a huge economic cost. South Korea''s Kospi plunged 2.7% followed by Hang Seng index lost 2.3% along with Singapore''s Straits Times index shed 2.3% and Nikkei dropped 0.9%.

The overall market breadth is negative as 1849 stocks are declining while 469 stocks are advancing and the 49 stocks remained unchanged on BSE.

L&T Ltd reported the top loser from the BSE Sensex pack as it was trading down by (9.54%) at Rs.907.95 followed by JP Associates lower by (8.47%) at Rs.77.8.

The BSE Mid cap is lower by 127 points at 3,764.9 and the BSE small Cap lost 152 points to trade at 4,463.74.

At 12.30 pm, BSE Sensex was at 11,027.89 down by 455 points and the NSE Nifty was at 3,407.8 lower by 110 points.

BSE Capital Goods index dropped by 559.93 points at 8,316.27 as L&T Ltd (8.83%), BEML Ltd (8.50%), Thermax Ltd (8.38%), BHEL (7.43%) and Punj Lloyd (6.96%) are trading in red.

BSE Metal index is trading lower by 391.42 points to 6460.29. The main losers are Jindal Steel (9.21%), JSW Steel (9.03%), Sterlite Industries (7.23%) and Tata Steel (7.15%).

BSE Bankex index is trading lower by 185.12 points at 5,852.95. Losers are ICICI Bank (7.03%), IDBI Bank Ltd (6.85%), Yes Bank (6.01%) and Karnataka Bank (5%).

BSE Oil & Gas index is trading 168.25 points down at 7,455.15 as Essar Oil (13.66%), Aban Offshore (8.63%), Cairn Ind (4.55%) and Reliance Natural Resources (2.94%) are trading in negative.

BSE Consumer Durables index decreased by 148.77 points to 2,181.99. Leading to its fall are Titan Ind (10.15%), Videocon Ind (6.93%), Rajesh Export (5.93%) and Gitanjali GE (3.63%).

BSE IT index lost 131.37 points to trade at 2,808.5. The major losers are Aptech Ltd (13.95%), Moser Bayer (11.65%), Tech Mahindra (9.19%) and NIIT Ltd (5.42%).

BSE Auto index declined by 117.38 points to trade at 3,311.37 as Bajaj Auto (7.93%), MAruti Suzuki (5.58%), Tata Motors (4.67%) and Amtek Auto (4.54%) trading in negative.

BSE Reality index was trading 115.03 points lower at 2,689.71. The main losers are Indiabull Real (11.38%), Orbit Co (9.98%), Housing Dev (6.65%) and Akruti City (6.46%).