Post Session Market - Nov 28, 2008

The domestic market managed to end in green due to the buying support on key stocks led by better-than-expected economic growth data which stood at 7.60% for Q2. Earlier volatility was witnessed during the trading on the expiry day of derivative contracts for the November 2008 series along with terror attacks. Sentiments were already weak on global financial crises, which resulted heavy outflow of foreign capital. However, expectation of further rate cut by RBI gathered momentum.

Recovery was also led by IT stocks on weaker rupee. Market opened on lower on the back of the terrorist attack in Mumbai and suddenly turned choppy due to the expiry of the November 2008 derivate contracts today. Further market continued to trade with instability and dropped in afternoon on reports of fresh firing outside the Chattrapati Shivaji Terminus (CST) rail terminus. Finally denial of this report along with recovery in Asian markets and slightly higher Dow futures boosted key benchmark indices to day''s high.

NSE Nifty ended above 2,700 mark and BSE Sensex above 9,000 level. From the sectoral front, most of the buying was observed in IT, teck, Auto, FMCG and Bank stocks. However, Reality, Metal, PSU and Oil & Gas stocks contributed to the negative sentiments. Midcap stocks joined the upward journey while Small cap stocks remained out of favour.

Among the Sensex pack 16 stocks ended in green territory and 14 in red. The market breadth was negative as 1114 stocks closed in red while 915 stocks closed in green and 64 stocks remained unchanged.

The BSE Sensex closed higher by 66 points at 9,092.72 and NSE Nifty ended marginally up by 2.85 points at 2,775.10. The BSE Mid Caps ended with gain of 8.38 points at 2,885.76 while and BSE Small Caps closed with loss 10.28 points at 3,304.61. The BSE Sensex touched intraday high of 9,157.62 and intraday low of 8,889.18.

Gainers from the BSE Sensex pack are TCS Ltd (5.89%), BHEL (4.78%), Infosys (4.49%), M&M Ltd (4.47%), HDFC (3.34%), Satyam Computer (2.60%), Sterlite Industries (2.58%), Bharti Airtel (2.50%), Tata Power (2.18%), HDFC Bank (1.46%) and Hindalco (0.95%).

Losers from the BSE Sensex pack are Reliance infra (3.26%), L&T Ltd (3.14%), Grasim Indus (3.03%), NTPC Ltd (2.86%), Tata steel (2.55%), Tata Motors (2.43%), Ranbaxy Lab (2.05%), Relinace Communication Ltd (1.71%) and SBI (1.58%).

Indian economy grew at 7.60% for the second quarter of FY09 as against 9.3% (YoY) and 7.9% (QoQ). The services sector growth was at 9.6% from 10.5% in the year ago period. The construction growth for the second quarter stood at 9.7% from 11.8% of previous year.

The BSE IT index gained (3.67%) or 90.49 points to close at 2,558.94. Major gainers are Patni Computer (13.95%), TCS Ltd (5.89%), NIIT Ltd (5.56%), Infosys (4.49%), Moser Bayer (3.39%) and Oracle Fin (2.84%).

The BSE Teck index ended higher by (2.45%) or 47.80 points at 2,001.63 as Patni Computer (13.95%), TCS Ltd (5.89%), NIIT Ltd (5.56%), Infosys (4.49%), IBN18 (3.97%) and Moser Bayer (3.39%) ended in positive territory.

The BSE Auto index advanced by (1.43%) or 32.81 points to close at 2,330.56 Gainers are Amtek Auto (14.77%), Cummins Indi (5.22%), M&M Ltd (4.47%), Hero Honda Motors (3.37%), Maruti Suzuki (0.67%) and Exide Indus (0.64%).

The BSE Reality index ended lower by (0.97%) or 15.26 points at 1,561.01. Major losers are Unitech Ltd (10.81%), Ansal Infra (5.10%), Pheonix Mill (4.28%), Orbit Co (3.78%) and Mahindra Life (2.00%).

The BSE Metal index dropped by (0.84%) or 37.34 points to close at 4,383.38. Losers are Nalco (7.95%), Welspan Gujarat Sr (7.73%), Hindustan Zinc (3.10%), JSW Steel (2.82%), SAIL (2.77%) and NMDC Ltd (2.74%).

The BSE PSU index lost (0.77%) or 35.53 points to close at 4,585.53. Losers are Chennai Petroleum (5.89%), Neyveli LIG (5.80%), Allahabad Bank (3.85%), IDBI Bank (3.50%), Corporation (3.40%) and NTPC Ltd (2.86%).

Mid Session Market - Nov 28, 2008

The markets have lost further grounds and are trading in deep red even though the GDP number came in slightly better than expected. However the investors are little worried to take any fresh position ahead of the expiry of the F&O November series today. The selling continued among the Realty, Capital Goods, Metal, Banking and Oil & Gas stocks. However, the IT and FMCG stocks are trading with marginal gains. The BSE Mid Cap and the BSE Small Cap index are also trading lower with a loss of around 1% each.

India’s Gross Domestic Products (GDP) growth grew by 7.6% for the Second quarter (July-September quarter) of FY09 as against 9.3% (YoY) and 7.9% (QoQ). However, the numbers were slightly ahead of expectations. India''s growth has slowed in the second quarter due to the high interest rates and record-high inflation.

The BSE Sensex is now trading below the 9,000 mark and the NSE Nifty hovering around the 2,700 mark.

The overall market breadth is negative as 630 stocks are advancing while 1011 stocks are declining and the 55 stocks remained unchanged on BSE.

On the global market front, the Asian Markets are trading mixed as Hang Seng, Nikkei and Seoul Composite index are trading higher by (1.25%), (1.66%) and (1.18%) respectively. However the Shanghai Composite and KLSE Composite index are trading lower by (2.76%) and (0.44%) respectively.

TCS reported the top gainer from the BSE Sensex pack as it was trading higher by (3.23%) at Rs. 544 while Reliance Infra the top loser down by (6.16%) at Rs. 487.50.

The BSE Mid cap is lower by 35.59 points at 2,841.79 and the BSE small Cap slipped by 25.35 points to trade at 3,289.54.

At 12.31 pm, BSE Sensex was at 8,930.70 down by 96.02 points while the NSE Nifty was at 2,712.70 down by 39.55 points.

BSE IT index inclined by 10.23 points to trade at 2,478.68 as TCS (3.23%), Mphasis (2.97%), Patni Computer (2.32%), Tech Mahindra (1.17%) and Satyam Computer (0.87%) are trading in positive.

BSE Metal index slipped by 52.81 points at 4,367.64 as Tata Steel (3.10%), NALCO (3.35%), SAIL (2.48%) and ISPAT Industries (2.45%) are trading in red.

BSE Bankex index is trading lower by 39.62 points at 4,585.61. Losers are AXIS Bank (2.72%), SBI (1.83%), ICICI Bank (1.64%), Yes Bank (2.98%) and HDFC Bank (0.96%).

BSE Oil & Gas index is trading 44.91 points lower at 5,603.15 as Gail India (3.35%), RPL (2.14%), Cairn India (2.08%), HPCL (1.74%) and ONGC (1.06%) are trading in negative.

BSE Capital goods index dropped by 108.16 points to 6,297.10. The main losers are L&T (3.14%), Crompton Greaves (2.34%), ABB (2.79%), Punj Lloyd (1.49%) and Praj Industries (1.08%).

BSE Power index is trading 15.97 points lower at 1,616.33. The main losers are Reliance Power (4.25%), Power Grid (3.91%), Torent Power (2.34%), GVK Power (2.50%) and NTPC (1.77%).

BSE Realty index slipped by 40.21 points to 1,536.06. The major losers are Unitech (9.27%), Ansal Infra (7.94%), India Bull Real (4.90%), HDIL (3.90%) and Sobha Developers (3.10%).

BSE Auto declined by 12.43 points to 2,285.32. Leading to its fall are Tata Motors (4.26%), Ashok Leyland (2.53%), Maruti Suzuki (1.18%) and Hero Honda (1.12%).

Pre Session Market - Nov 28, 2008

Today markets are likely to open with a negative gap amidst concerns over the terrorist attack in the financial capital, Mumbai. The operation to flush out the terrorist is not yet over and hence the sentiments of trading would be very low. One could anticipate a thin trade today due to weak sentiments. Overall the roll over contracts today would decide the further sentiments of trading. After a negative opening in the morning we also anticipate a bounce back later. The inflation numbers look soft at 8.84% lower by 6bps from 8.90% in the week earlier.

On Wednesday, domestic markets managed to end with green numbers despite volatile trading session. The investors were optimistic on a rate cut from RBI as China''s central bank cut banks'' benchmark lending and deposit rates by 108bps, the fourth cut since mid-September. The one-year bank loans will fall to 5.58% from 6.66%, while the benchmark one-year deposit rate falls to 2.52% from 3.60%. Sensex ended with a gain of 3.81% whereas, Nifty closed with a gain of 3.70% respectively. Bankex, Oil & Gas and Metal gained by 5.96%, 4.41% and 3.66% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed high by 331.19 points at 9,026.72 and NSE Nifty ended up by 98.25 points at 2752.25. The BSE Mid Caps ended with a marginal gain of 4.79 points however Small Caps closed with losses of 18.53 points at 2,877.38 and 3,314.89. The BSE Sensex touched intraday high of 9,061.72 and intraday low of 8,658.53.

On Thursday, the US markets closed with phenomenal gains. The October personal spending dropped 1.0% month-over-month, which met estimates. Despite the dour housing data, homebuilders rose 13.6%. The Fed’s $600 billion plan to support housing lending spurred a drop in the average 30-year fixed mortgage rate to 5.81% from 5.98%, according to BankRate.com, which gave a lift to housing related stocks. The number of new unemployment claims dropped 14,000 to 529,000 for the week ended Nov. 22. Although this was slightly better than the expected reading of 535,000, it still represents a very weak labor market.

The Dow Jones Industrial Average (DJIA) closed higher by 247.14 points at 8,726.61 NASDAQ index gained 67.37 points at 1,532.10 and the S&P 500 (SPX) also closed higher by 30.29 points to close at 887.68 points.

Indian ADRs ended mixed. In technology sector, Infosys gained by 5.06% and Wipro ended high by 4.18% followed by Satyam that ended high by 2.35% and Patni Computers closing high by 6.13%. In banking sector ICICI Bank was low by (3.15%), while HDFC Bank gained 0.41%. In telecommunication sector, Tata Communication inclined by 6.88%, while MTNL inclined by 2.68%.

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading low by 23.79 at 1,894.06 Hang Seng is high by 296.40 points at 13,848.48. Further Japan''s Nikkei is high by 42.01 points at 8,415.40. Straits Times is also trading low by 15.53 points at 1,694.99 and South Korea’s Seoul Composite is high by 10.85 points at 1,074.33.

The FIIs on Wednesday stood as net buyers in equity and debt. The Gross equity purchased stood at Rs 1384.20 Crore and gross debt purchased stood at Rs 179.70 Crore, while the gross equity sold stood at Rs 1,382.90 Crore and gross debt sold stood at Rs 37.80 Crore. Therefore, the net investment of equity and debt reported were Rs 1.30 Crore and Rs 142.00 Crore respectively.

On Wednesday, the partially convertible rupee ended at 49.48/50 per dollar, stronger by 0.9% on Tuesday’s closing at 49.93/95. The rupee gained strength on the back of huge dollar selling by corporate and phenomenal rally in the stock markets.

On BSE, total number of shares traded was Rs 25.57 Crore and total turnover stood at Rs 3,232.63 Crore. On NSE, total volume of shares traded was 51.77 Crore and total turnover was Rs 8,818.65 Crore.

Top traded volumes on NSE Nifty – Suzlon Energy with 49337802 shares, Unitech with total volume traded 45143845 shares, followed by SAIL with 11960100 shares, ICICI Bank with 11620249 shares and Reliance Comm with 11014088 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1378947 with a total turnover of Rs 17,568.68 crores. Along with this total number of contracts traded in stock futures were 1370221 with a total turnover of Rs 13,562.58 Crore. Total numbers of contracts for index options were 1238249 with a total turnover of Rs 17237.53 Crore and total numbers of contracts for stock options were 44919 and notional turnover was Rs 520.17 Crore.

Today, Nifty would have a support at 2,590 and resistance at 2,700 and BSE Sensex has support at 8,560 and resistance at 8,935.

Post Session Market - Nov 26, 2008

The domestic market ended with handsome gains on account of buying activity in index heavyweights, after reporting a fall on previous session. Market opened on firm note along with other Asian markets backed by latest US Federal Reserve measures to boost the flagging US financial system. Further benchmark indices were not able to hold the momentum and pared its gains to trade with instability. Volatility rose ahead of the derivatives expiry for November 2008 series on 27 November 2008. Finally market turned upward as renewed buying interest during final trading hours led rally in the bourses.

Stocks surged on the hopes of rate cuts by other central banks after a surprise steep rate cut announced by China''s central bank. China''s central bank cut banks'' benchmark lending and deposit rates by 1.08% for the fourth time since mid-September 2008. NSE Nifty ended above 2,700 mark and BSE Sensex around 9,000 level. From the sectoral front, all indices ended in green and Bank stocks outperformed the benchmark indices as ended with gain of around 6%. Apart from that, most of the buying was seen in Oil & Gas, Metal, Teck, Pharma, Reality, Power and IT stocks. Midcap stocks also joined the rally while Small cap stocks remained out of favour.

Among the Sensex pack 28 stocks ended in green territory and 2 in red. The market breadth was negative as 1222 stocks closed in red while 938 stocks closed in green and 68 stocks remained unchanged.

The BSE Sensex closed higher by 331.19 points at 9,026.72 and NSE Nifty ended up by 98.25 points at 2,752.25. The BSE Mid Caps ended with gain of 4.79 points at 2,877.38 while and BSE Small Caps closed with loss 18.53 points at 3,314.89. The BSE Sensex touched intraday high of 9,061.72 and intraday low of 8,658.53.

Gainers from the BSE Sensex pack are Sterlite Industries (12.88%), ICICI Bank (9.55%), HDFC Bank (8.63%), NTPC Ltd (6.93%), Reliance (6.11%), DLF Ltd (5.53%), Wipro Ltd (5.33%), HDFC (4.92%), Ranbaxy Lab (4.72%), TCS Ltd (4.72%), Bharti Airtel (4.51%) and Reliance Infra (4.41%).

Losers from the BSE Sensex pack are M&M Ltd (2.55%) and Maruti Suzuki (0.50%).

China''s central bank cut its lending and deposit rate by 108 bps to 5.58% from 6.66%. The rate cut will come into effect on 27th November 2008. This move is highlighting the deteriorating conditions for the Chinese economy as it the largest move for the central bank since 1997 and the fourth time in ten weeks. Along with this, the deposit rate will drop to 2.52% from 3.60%.

The BSE Bank index gained (5.96%) or 260.23 points to close at 4,625.23. Major gainers are ICICI Bank (9.55%), HDFC Bank (8.63%), Axis Bank (6.05%), Oriental Bank (5.20%), Bank of Baroda (4.68%) and Kotak Bank (4.19%).

The BSE Oil & Gas index advanced by (4.41%) or 238.69 points to close at 5,648.06 Gainers are Reliance (6.11%), BPCL (5.01%), Essar Oil Ltd (4.53%), Reliance Petroleum (3.60%), Cairn Ind (3.26%) and Gail India (2.64%).

The BSE Metal index went up by (3.66%) or 156.28 points to close at 4,420.45. Gainers are Sterlite Industries (12.88%), SAIL (8.37%), Nalco (6.42%), Hindustan Zinc (3.50%), Tata Steel (2.72%) and Jindal Steel (2.52%).

The BSE Teck index ended higher by (2.17%) or 41.45 points at 1,953.83 as Tanla (11.01%), Deccan Chr (9.03%), HT Media (8.63%), Patni Computer (6.06%), Idea Cell (5.55%) and Wipro Ltd (5.33%) ended in positive territory.

The BSE Pharma index gained (2.16%) or 60.83 points to close at 2,879.09. Gainers are Sterlite Biotec (8.34%), Divis Lab (5.01%), Ranbaxy Lab (4.72%), Lupin Ltd (4.17%) and Cipla Ltd (3.49%).

The BSE Reality index ended higher by (2.12%) or 32.78 points at 1,576.27. Major gainers are Pheonix Mill (7.22%), Indiabull Real (6.61%), DLF Ltd (5.53%), Akruti City (3.37%) and Sobha Dev (0.86%).

Mid Session Market - Nov 26, 2008

The markets have given up all its early morning gains and are trading flat as volatility strikes the market. The market is swinging between the positive and negative territory. The buying is seen among the Oil & Gas, Banking, FMCG and Pharma stocks. However, the Capital Goods, Power, Realty, Auto and IT stocks are under pressure today. The BSE Mid Cap and the BSE Small Cap index are however trading with a loss of around 1% each.

The BSE Sensex is now trading around the 8,700 mark and the NSE Nifty hovering around the 2,650 mark.

The overall market breadth is negative as 615 stocks are advancing while 1178 stocks are declining and the 56 stocks remained unchanged on BSE.

On the global market front, the Asian Markets are trading mixed as Hang Seng, Shanghai Composite and Straits Times index are trading higher by (1.99%), (0.14%) and (0.73%) respectively. However the Nikkei index is trading lower by (1.33%).

Sterlite Industries reported the top gainer from the BSE Sensex pack as it was trading higher by (5.55%) at Rs. 216 while Reliance Communication the top loser down by (3.35%) at Rs. 189.

The BSE Mid cap is lower by 34.81 points at 2,837.78 and the BSE small Cap slipped by 41.99 points to trade at 3,291.33.

At 12.31 pm, BSE Sensex was at 8,708.03 up by 12.50 points while the NSE Nifty was at 2,653.65 down by 0.35 points.

BSE Metal index slipped by 34.94 points at 4,229.23 as NMDC (6.68%), Sesa Goa (3.49%), Hindalco Industries (2.92%) and Tata Steel (2.25%) are trading in red.

BSE Bankex index is trading higher by 13.19 points at 4,378.19. Gainers are ICICI Bank (2.81%), HDFC Bank (2.65%), Oriental Bank (0.67%) and Yes Bank (0.16%). However, the losers are AXIS Bank (3.99%), PNB (3.15%) and IDBI Bank (3.67%).

BSE Oil & Gas index is trading 63.08 points higher at 5,472.45 as Essar Oil (1.63%), Gail India (1.38%), Cairn India (1.04%) and RNRL (0.88%) are trading in positive.

BSE Capital goods index dropped by 106.90 points to 6,279.78. The main losers are Siemens (16.06%), Gammon India (4.39%), Havells India (6.24%), Punj Lloyd (2.55%) and BHEL (1.56%).

BSE IT index declined by 22.14 points to trade at 2,410.30 as Mphasis (2.21%), Tech Mahindra (1.42%), TCS (0.91%) and Satyam Computer (0.24%) are trading in negative.

BSE Power index is trading 24.70 points lower at 1,577.04. The main losers are Suzlon Energy (3.42%), Torent Power (2.95%), Tata Power (2%), Power Grid (0.41%) and NTPC (0.49%).

BSE Realty index slipped by 29.35 points to 1,514.14. The major losers are Unitech (5.08%), HDIL (4.56%), Omaxe Ltd (4.29%), Ansal Infra (5.89%) and Penland (2.78%).

BSE Auto declined by 30.48 points to 2,251.54. Leading to its fall are Maruti Suzuki (3.36%), Mahindra & Mahindra (2.80%), Bajaj Auto (0.90%) and Ashok Leyland (0.37%).

Pre Session Market - Nov 26, 2008

Today markets are likely to open positive as it had closed in red yesterday after a volatile trade. The US markets have closed mixed however the major Asian markets have opened with positive gains. The trading today may again be volatile as investors are little cautious in their holdings and there has been a tug of war between the bears and bulls in the previous trading days. There are no major positive events that would help sustain the positive trend and hence we expect the markets to trade volatile.

On Tuesday, domestic markets opened with a phenomenal positive gap but later during the trading session it could not sustain the relentless selling pressures. Sensex moved 500 points showing extreme volatility. After the post mid session bears took the markets between their claws and pulled it in the red zone. Asian markets and European markets had good positive momentum and therefore ended with positive mark. On the other hand Sensex ended with a loss of 2.33% whereas, Nifty closed with a fall of 2% respectively. Oil & Gas, CG, Realty and Bankex suffered the selling heat as they lost 3.86%, 2.56%, 2.51% and 2.01% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed low by 207.59 points at 8,695.53 and NSE Nifty ended lower by 54.25 points at 2654.00. The BSE Mid Caps and Small Caps closed with losses of 29.70 points at 2,872.59 and by 30.54 points at 3,333.42. The BSE Sensex touched intraday high of 9,182.80 and intraday low of 8,649.40.

On Tuesday, the US markets traded choppy and therefore ended mixed. Consumer confidence rose large than expected amount in November but still it remains at a depressed state. During November consumer confidence improved by 6.1 to 44.9 from October. Home prices are still falling as prices in 20 major metro cities fell by 17.4% in September. On the other hand Fed has planned to purchase $600 billion in direct obligations and mortgage-backed securities. Besides that Fed will also lend $200 billion in Assets Backed Securities Loan to help facilitate the issuance of asset-backed securities. Crude oil futures for the January delivery rose by 31 cents to $51.08 a barrel on New York Mercantile Exchange. The new $US 800 billion Fed package has brought some shine in the stock markets as well as helped to push oil prices.

The Dow Jones Industrial Average (DJIA) closed higher by 36.08 points at 8,479.47 NASDAQ index fell 7.29 points at 1,464.73 and the S&P 500 (SPX) also closed higher by 5.58 points to close at 857.39 points.

Indian ADRs ended mixed. In technology sector, Infosys fell by (7.29%) and Wipro ended low by (3.75%) followed by Satyam that ended low by (3.75%) and Patni Computers closing high by (4.58%). In banking sector ICICI Bank was low by (2.15%), while HDFC Bank fell 1.04%. In telecommunication sector, Tata Communication inclined by (15.95%), while MTNL declined by 1.97%. Sterlite Industries was low by 2.18%.

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading high by 6.81 at 1,895.53 Hang Seng is high by 398.60 points at 13,277.20. Further Japan''s Nikkei is low by 33.16 points at 8,290.17. Straits Times is also trading high by 17.48 points at 1,670.73 and South Korea’s Seoul Composite is high by 40.49 points at 1,023.81.

The FIIs on Tuesday stood as net sellers in equity and net buyers in debt. The Gross equity purchased stood at Rs 1080.00 Crore and gross debt purchased stood at Rs 203.60 Crore, while the gross equity sold stood at Rs 1,391.40 Crore and gross debt sold stood at Rs 176.30 Crore. Therefore, the net investment of equity and debt reported were (Rs 311.50) Crore and Rs 27.30 Crore respectively.

On Tuesday, the partially convertible rupee ended at 49.93/95 per dollar, stronger by 0.3% on Monday’s closing at 50.09/10. The weaker position of Dollar against some other currencies helped Rupee to gain.

On BSE, total number of shares traded was 22.65 Crore and total turnover stood at Rs 3,196.07 Crore. On NSE, total volume of shares traded was 52.49 Crore and total turnover was Rs 8,463.43 Crore.

Top traded volumes on NSE Nifty – Unitech with 32337821 shares, Suzlon Energy with total volume traded 30692385 shares, followed by DLF with 11779321 shares, ICICI Bank with 10599632 shares and SAIL with 10375186 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1153477 with a total turnover of Rs 14,827.49 crores. Along with this total number of contracts traded in stock futures were 1291506 with a total turnover of Rs 13,119.52 Crore. Total numbers of contracts for index options were 1148751 with a total turnover of Rs 16243.69 Crore and total numbers of contracts for stock options were 37183 and notional turnover was Rs 421.74 Crore.

Today, Nifty would have a support at 2,569 and resistance at 2,740 and BSE Sensex has support at 8,350 and resistance at 8,735.

Post Session Market - Nov 25, 2008

The domestic market ended the day in red terrain after paring early gains due to the profit booking across the selective counters. Weak European markets weighted on the sentiments on concerns about recession in major global economies. The market today opened higher on the back of positive cues from the markets all over the world. The US government is taking $20 billion stake in the Citi group, along with a huge back up of $ 306 billion of Citi group assets.

Further the US president Barrac Obama is planning to come out with another bail out package of $ 700 billion so as to support the US economy and also create 2.5 million new jobs in another 2 years of time. Further benchmark indices continued to trade in positive but pared their early increase as fear continues to hinder the investor’s sentiment. Finally market trimmed all gains and dropped sharply lower due to weak European indices and US futures.

NSE Nifty ended below 2,700 mark and BSE Sensex below 8,700 level. From the sectoral front, Oil & Gas, Reality, Capital Goods, Bank, Teck and Metal stocks contributed to most of the selling pressure. Midcap and Small cap stocks also tracked the same trend. However, Consumer Durable stocks were in limelight as witnessed most of the buying pressure from its basket.

Among the Sensex pack 23 stocks ended in red territory and 7 in green. The market breadth was negative as 1442 stocks closed in red while 995 stocks closed in green and 87 stocks remained unchanged.

The BSE Sensex closed lower by 207.59 points at 8,695.53 and NSE Nifty ended down by 54.25 points at 2,654. The BSE Mid Caps and Small Caps closed with losses of 29.70 points and 30.54 points at 2,872.59 and 3,333.42 respectively. The BSE Sensex touched intraday high of 9,182.80 and intraday low of 8,649.40.

Losers from the BSE Sensex pack are M&M Ltd (7.63%), State Bank of India (6.55%), Reliance (6.40%), Reliance Communication Ltd (4.98%), Ranbaxy Lab (4.70%), Sterlite Industries (4.64%), JP Associates (4.18%), TCS Ltd (3.35%), Tata Steel (3.33%), L&T Ltd (2.98%), Wipro Ltd (2.08%) and ITC Ltd (2.04%).

Gainers from the BSE Sensex pack are Satyam Computer (1.85%), Tata Motors (1.80%), ONGC Ltd (0.97%), Maruti Suzuki (0.95%), HDFC Bank (0.43%), NTPC (0.29%) and HUL (0.02%).

The BSE Oil & Gas index dropped by (3.86%) or 217.30 points to close at 5,409.37. Losers are Aban Offshore (6.85%), Reliance (6.40%), Reliance Petroleum (3.41%), Reliance Natural Resources (3.39%), HPCL (2.67%) and Gail India (2.16%).

The BSE Capital Goods index ended lower by (2.56%) or 168.04 points at 6,386.68 as Suzlon Energy (9.49%), BEML Ltd (9.22%), Thermax Ltd (7.15%), Havells India (6.70%), Punj Lloyd (5.22%) and Usha Martin (5.01%) ended in negative territory.

The BSE Reality index ended down by (2.51%) or 39.81 points at 1,543.91. Major losers are Indiabull Real (9.51%), Pheonox Mill (7.59%), Orbit Co (7.50%), Housing Dev (6.68%), Penland Ltd (2.99%) and Ansal Infra (2.61%).

The BSE Bank index lost (2.01%) or 89.68 points to close at 4,365. Major losers are State Bank of India (6.55%), Bank of Baroda (4.98%), Axis Bank (3.94%), Bank of India (1.64%), Karnataka Bank (1.37%) and Indus Ind Bank (1.17%).

The BSE Teck index dropped by (1.55%) or 30.05 points to close at 1,912.38. Losers are Deccan Ch (10.16%), Tanla (7.48%), HCL Tech (7.40%), Reliance Communication Ltd (4.98%), Idea Cell (4.13%) and Adlabs Films (3.74%).

The BSE Consumer Durables index gained (1.38%) or 24.09 points to close at 1,775.09. Gainers are Titan Ind (3.38%) and Blue Star L (2.87%).

Mid Session Market - Nov 25, 2008

The markets are still trading higher after slipping from the day’s high due to concern about the domestic fiscal deficit as Finance minister said that India is likely to miss the revenue and fiscal deficit targets in the current financial year. However, US government’s rescue plans for Citigroup followed by the economic team formation by President-elect Obama and prospects of another economic stimulus package by January have added to the rally. All the sectorial indices are trading in green mainly led by the Power, Metal, Banking, Capital Goods and Oil & Gas stocks. The BSE Mid Cap and the BSE Small Cap index are however trading with a gain of around 1% each.

The BSE Sensex is now trading around the 9,100 mark and the NSE Nifty hovering around the 2,750 mark.

The overall market breadth is positive as 1281 stocks are advancing while 830 stocks are declining and the 80 stocks remained unchanged on BSE.

On the global market front, the Asian Markets are trading mixed as Hang Seng, Nikkei and Straits Times index are trading higher by (3.91%), (5.22%) and (2.63%) respectively. However the Shanghai Composite index is trading lower by (1.33%).

ONGC reported the top gainer from the BSE Sensex pack as it was trading higher by (4.68%) at Rs. 710.75 while Ranbaxy Laboratories the top loser down by (3.58%) at Rs. 206.

The BSE Mid cap is higher by 36.47 points at 2,938.76 and the BSE small Cap advanced by 27.44 points to trade at 3,391.40.

At 12.31 pm, BSE Sensex was at 9,094.93 up by 191.81 points while the NSE Nifty was at 2,774.85 up by 66.60 points.

BSE Metal index surged by 115.63 points at 4,425.36 as Sesa Goa (7.89%), Jindal Steel (4.44%), SAIL (3.86%) and JSW Steel (3.25%) are trading in green.

BSE Bankex index is trading higher by 71.96 points at 4,526.64. Gainers are Kotak Bank (4.08%), HDFC Bank (3.87%), ICICI Bank (3.47%), AXIS Bank (1.18%) and PNB (0.52%).

BSE Oil & Gas index is trading 89.01 points higher at 5,715.68 as Cairn India (5.83%), Essar Oil (4.36%), ONGC (5.05%) and RNRL (2.42%) are trading in positive.

BSE Capital goods index improved by 149.37 points to 6,704.09. The main gainers are Praj Industries (6.91%), BHEL (3.83%), Siemens (3%), Punj Lloyd (2%).

BSE IT index inclined by 18.22 points to trade at 2,481.17 as Patni Computer (5.82%), Wipro (3.72%), Tech Mahindra (2.45%) and Satyam Computer (2.40%) are trading in positive.

BSE Power index is trading 49.97 points higher at 1,699.41. The main gainers are GVK Power (11.82%), NTPC (3.92%), Torent Power (3.70%), Tata Power (3.20%) and Reliance Power (2.79%).

BSE Realty index improved by 21.95 points to 1,605.25. The major gainers are Unitech (4.32%), Ansal Infra (3.65%), Parsavnath (1.34%), Sobha Developers (0.68%) and Omaxe Ltd. (0.53%).

BSE Auto inclined by 15.66 points to 2,330.01. Leading to its gain are Hero Honda (2.41%), Tata Motors (1.87%) and Maruti Suzuki (1.54%).

Pre Session Market - Nov 25, 2008

Today markets are likely to open positive as US markets have closed with phenomenal gains and major Asian markets have opened with positive gains. The investors would be little optimistic today as the major markets across the world are showing some strong positive movements. The positive sentiments are also backed by the US economic relief package announced by the US government. It is estimated that a total $ 7.7 trillion support has been planned to revamp the overall US economy. Such a major intervention by the US government will boost the economies across the world.

On Monday, domestic markets opened negative but later during the trading session it moved zigzag with extreme volatility. The domestic markets followed the trend of other Asian markets, which were also trading volatile. However the European markets traded positive on the back of speculations about the news that Britain’s labour government would slash the taxes to boost the consumer spending.

After the volatile trading session the domestic markets ended mixed. Sensex ended with a loss of 0.14% whereas, Nifty closed with a marginal gain of 0.55% respectively. Realty, Bankex, CD, and Metal were thrashed by 3.78%, 3.14%, 2.33% and 1.55% respectively. During the trading session we expect the market to be trading in positive trend.

The BSE Sensex closed low by a marginal 12.09 points at 8,903.12 and NSE Nifty ended higher by 14.80 points at 2,708.25. The BSE Mid Caps and Small Caps closed with losses of 14.37 points at 2,902.29 and by 26.80 points at 3,363.96. The BSE Sensex touched intraday high of 9,042.02 and intraday low of 8,701.93.

On Monday, US markets closed with distinctive gains for the second consecutive trading day. The financial back given by US Federal Reserve has boosted the morale of investors to new highs. The US government is taking $20 billion stake in the Citi group, along with a huge back up of $ 306 billion of Citi group assets. Citi will absorb the first $29 billion in losses on the troubled assets and then 10% on any remaining losses, while the government will cover the remaining 90% in losses.

Further the US president Barrac Obama is planning to come out with another bail out package of $ 700 billion so as to support the US economy and also create 2.5 million new jobs in another 2 years of time. Crude oil futures for the January delivery fell by 69 cents or 1.3% to $53.81 a barrel on New York Mercantile Exchange. Due to gain in the US stock markets and the government’s support for the financial sector, investors were optimistic the demand of crude oil.

The Dow Jones Industrial Average (DJIA) closed higher by 396.97 points at 8,443.39 NASDAQ index gained 87.67 points at 1,472.02 and the S&P 500 (SPX) also closed higher by 51.78 points to close at 851.81 points.

Indian ADRs ended positive with phenomenal gains. In technology sector, Infosys gained by 8.71% and Wipro ended high by 14.97% followed by Satyam that ended high by 8.56% and Patni Computers closing high by 4.60%. In banking sector ICICI Bank was high by 6.49%, while HDFC Bank gained 12.96%. In telecommunication sector, Tata Communication inclined by (27.41%), while MTNL inclined by 7.42%. Sterlite Industries was high by 3.85%.

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading low by 3.27 at 1,893.79 Hang Seng is high by 486.63 points at 12,944.57. Further Japan''s Nikkei is high by 259.59 points at 8,170.38. Straits Times is also trading high by 47.66 points at 1,667.95 and South Korea’s Seoul Composite is high by 25.05 points at 995.19.

The FIIs on Monday stood as net sellers in equity and net buyers in debt. The Gross equity purchased stood at Rs 1070.00 Crore and gross debt purchased stood at Rs 551.00 Crore, while the gross equity sold stood at Rs 1,584.00 Crore and gross debt sold stood at Rs 533.40 Crore. Therefore, the net investment of equity and debt reported were (Rs 514.10) Crore and Rs 17.60 Crore respectively.

On Monday, the partially convertible rupee ended at 50.09/10 per dollar, weaker by Rs 0.5 on Friday’s closing at 50.04/05. The volatile trading in the stock markets left the traders in confusion, however the dollar sales by exporters gave a support to the slipping rupee that touched the low at 50.25 in the day’s trading.

On BSE, total number of shares traded was 22.43 Crore and total turnover stood at Rs 3,206.82 Crore. On NSE, total volume of shares traded was 48.81 Crore and total turnover was Rs 8,505.62 Crore.

Top traded volumes on NSE Nifty – Unitech with 44124168 shares, Suzlon Energy with total volume traded 26557658 shares, followed by SAIL with 13245569 shares, ICICI Bank with 11080726 shares and Reliance Comm with 9439034 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1317898 with a total turnover of Rs 16,732.61 crores. Along with this total number of contracts traded in stock futures were 1208462 with a total turnover of Rs 12,109.91 Crore. Total numbers of contracts for index options were 1220154 with a total turnover of Rs 16960.34 Crore and total numbers of contracts for stock options were 35424 and notional turnover was Rs 416.08 Crore.

Today, Nifty would have a support at 2,650 and resistance at 2,845 and BSE Sensex has support at 8,840 and resistance at 9,380.

Post Session Market - Nov 24, 2008

The domestic market closed flat after remaining unstable during the trading session due to lack of conviction. Market opened slightly lower tracking weak cues from Asian markets. Further benchmark indices suddenly made sharp turn from the opening low’s and gained some ground as buying action was witnessed among the selective scrips. However, same momentum did not sustained for long as the volatility griped the market. Asian markets ended weak, as the Citigroup share slump worries and investors decided to stay on the edge of the fence, hoping for some fresh cues from the policymakers.

Further, the announcement made by US government that an amount of USD 306 billion will be provided as a rescue package for Citigroup did not impact much on domestic investors. NSE Nifty ended above 2,700 mark and BSE Sensex around 8,900 level. From the sectoral front, Reality, Bank, Consumer Durable, Metal and Capital Goods stocks remained out of favor as most of the selling was seen from these baskets. Midcap and Small cap stocks were also under bears'' control. However, Power, FMCG, Oil & Gas, Teck and Pharma stocks tried to offset the negative sentiment as were able to gather the buying momentum.

Among the Sensex pack 17 stocks ended in red territory and 13 in green. The market breadth was negative as 1382 stocks closed in red while 1060 stocks closed in green and 75 stocks remained unchanged.

The BSE Sensex closed marginally lower by 12.09 points at 8,903.12 and NSE Nifty ended slightly up by 14.80 points at 2,708.25. The BSE Mid Caps and Small Caps closed with losses of 14.37 points and 26.80 points at 2,902.29 and 3,363.96 respectively. The BSE Sensex touched intraday high of 9,042.02 and intraday low of 8,701.93.

Losers from the BSE Sensex pack are Satyam Computer (4.57%), ICICI Bank (3.87%), DLF Ltd (3.81%), M&M Ltd (3.15), SBI (3.03%), HDFC Bank (2.94%), Ranbaxy Lab (2.78%), Grasim Indus (2.77%), Tata Steel (2.53%), Sterlite Industries (1.90%), HDFC (1.84%) and ONGC Ltd (1.61%).

Gainers from the BSE Sensex pack are Reliance Infra (4.00%), Maruti Suzuki (3.64%), Tata Power (3.57%), TCS Ltd (2.79%), Bharti airtel (2.79%), NTPC Ltd (1.96%), Wipro Ltd (1.68%), BHEL (1.56%), Reliance (1.56%), Infosys Tech (0.97%) and ACC Ltd (0.85%).

The BSE Reality index ended down by (3.78%) or 62.12 points at 1,583.30. Major losers are Unitech Ltd (9.11%), Penland Ltd (6.18%), Ansal Infra (4.49%), Parsvnath (3.87%), DLF Ltd (3.81%) and Indiabull Real (3.56%).

The BSE Bank index lost (3.14%) or 144.22 points to close at 4,454.68. Major losers are Bank of India (5.08%), IDBI Bank (4.97%), Bank of Baroda (4.69%), ICICI Bank (3.87%), Axis Bank (3.44%) and Union Bank (3.36%).

The BSE Consumer Durables index dropped by (2.33%) or 41.82 points to close at 1,751.90. Losers are Blue Star L (6.07%), Titan Ind (2.81%) and Rajesh Export (1.12%).

The BSE Power index ended higher by (1.94%) or 30.80 points at 1,619.44 as Reliance Power (6.32%), Reliance Infra (4.00%), Tata Power (3.57%), Crompton Greaves (2.78%), GVK Power (2.66%) and Power Grid (2.58%) ended in positive territory.

The BSE Oil & Gas index advanced by (1.37%) or 75.78 points to close at 5,626.67. Gainers are IOC Ltd (7.14%), HPCL (6.57%), GAIL India (5.14%), Aban Offshore (4.32%), BPCL (2.87%) and Reliance (1.56%).

The BSE FMCG index gained (1.09%) or 20.66 points to close at 1,908.41. Gainers are United Spr (14.97%), Marico Ltd (4.75%), Britania In (2.67%), Ruchi Soya (2.49%) and Godrej Cons (2.09%).

Mid Session Market - Nov 24, 2008

The markets are now trading flat with a little bit of volatility and are swinging in between the positive and negative territory. The buying momentum is seen among the Power, IT, Capital Goods, FMCG and Auto stocks. However, the Banking, Realty, Consumer Durables and Metal stocks are facing the selling pressure. The BSE Mid Cap and the BSE Small Cap index are however trading with marginal loss.

The BSE Sensex is now trading around the 8,900 mark and the NSE Nifty hovering around the 2,700 mark.

The overall market breadth is negative as 993 stocks are advancing while 1094 stocks are declining and the 67 stocks remained unchanged on BSE.

On the global market front, the Asian markets are trading lower as Shanghai Composite, Hang Seng and Straits Times index slipped by (2.77%), (1.23%) and (1.85%) respectively. The Japanese market is shut today.

Reliance Infra reported the top gainer from the BSE Sensex pack as it was trading higher by (5.52%) at Rs. 512 while Sterlite Industries the top loser down by (4.18%) at Rs. 209.60.

The BSE Mid cap is lower by 8.26 points at 2,908.40 and the BSE small Cap slipped by 11.39 points to trade at 3,379.37.

At 12.31 pm, BSE Sensex was at 8,903.68 down by 11.53 points while the NSE Nifty was at 2,701.95 up by 8.50 points.

BSE Metal index slipped by 42.16 points at 4,335.44 as Sesa Goa (13.18%), Sterlite Industries (4.25%), Tata Steel (1.28%) and JSW Steel (1.05%) are trading in red.

BSE Bankex index is trading lower by 152.22 points at 4,446.68. Losers are AXIS Bank (4.07%), IDBI Bank (3.37%), ICICI Bank (3.61%), PNB (2.87%) and SBI (2.73%).

BSE Oil & Gas index is trading 44.50 points lower at 5,506.39 as Cairn India (1.10%), RPL (0.47%), BPCL (0.43%) and Essar Oil (0.15%) are trading in negative.

BSE Capital goods index improved by 17.64 points to 6,574.01. The main gainers are Punj Lloyd (3.43%), Praj Industries (2.13%), L&T (1.56%), BHEL (1.23%).

BSE IT index inclined by 16.79 points to trade at 2,474.34 as TCS (3.55%), HCL Technologies (3.45%), Infosys Technologies (1.29%) are trading in positive.

BSE Power index is trading 14.36 points higher at 1,603. The main gainers are Reliance Power (4.12%), GVK Power (3.82%), Torent Power (3.21%), Tata Power (2.22%) and Power Grid (1.49%).

BSE Realty index dropped by 58.62 points to 1,586.80. The major losers are Unitech (7.38%), Parsavnath (3.44%), DLF (2.62%), Sobha Developers (2.20%) and Ansal Infra (1.99%).

BSE Auto declined by 2.04 points to 2,303.08. Leading to its fall are Bajaj Auto (2.44%), Mahindra & Mahindra (1.39%) while Hero Honda (4.12%), Tata Motors (2.25%) and Maruti Suzuki (1.26%).

Pre Session Market - Nov 24, 2008

Today markets are likely to open negative as on the week end markets had gained enough. The other Asian markets have also opened with a blood bath. However, one may witness some extremely volatility in the markets. On the global front APEC leaders have on Sunday chalked out plans to prevent the economic downturn. The markets today would be little choppy and volatile.

On Friday, domestic markets opened with phenomenal gains and continued the trend through out the session. The European markets traded positive and the other Asian markets also helped keep the positive sentiments. Despite the profit booking in the mid session, the bulls helped the markets bounce back with short coverings. Sensex and Nifty gained by phenomenal 5.49% and 5.50% respectively. Power, Oil & Gas and CG gained phenomenal by 6.21%, 5.69%, and 5.59% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed higher by 464.20 points at 8,915.21 and NSE Nifty ended higher by 140.30 points at 2693.45. The BSE Mid Caps and Small Caps closed with gains of 20.87 points at 2,916.66 and by 5.42 points at 3,390.76. The BSE Sensex touched intraday high of 8,988.03 and intraday low of 8,442.31.

On Friday, US markets closed with phenomenal gains. The heavy losses on the early of the week had prompted the bargain hunters to bid for stocks higher. Despite such gains on the last trading day of the week, the week finished with a loss of 8.4%.There are also speculations surrounding the Citi Group. The energy stocks moved up on the back of surge in the Crude oil prices. Crude oil futures for the January delivery rose by $1.41 or 2.8% to $51.34 a barrel on New York Mercantile Exchange. The oil surged on the back of speculations that OPEC would further cut the production to support the price.

The Dow Jones Industrial Average (DJIA) closed higher by 494.13 points at 8,046.42 NASDAQ index gained 68.23 points at 1,384.35 and the S&P 500 (SPX) also closed higher by 47.59 points to close at 800.03 points.

Indian ADRs ended positive. In technology sector, Infosys gained by 8.76% and Wipro ended high by 13.29% followed by Satyam that ended high by 6.98% and Patni Computers closing high by 6.53%. In banking sector ICICI Bank was high by 15.53%, while HDFC Bank gained 6.72%. In telecommunication sector, Tata Communication declined by (1.22%), while MTNL inclined by 6.79%. Sterlite Industries was high by 10.53%.

Today the major stock markets in Asia opened mixed. The Shanghai Composite is trading low by 31.69 at 1,937.69 Hang Seng is low by 171.84 points at 12,487.36. Further Japan''s Nikkei is high by 207.75 points at 7,910.79. Straits Times is also trading low by 30.01 points at 1,632.09 and South Korea’s Seoul Composite is low by 29.45 points at 974.28.

The FIIs on Friday stood as net sellers in equity and net buyers in debt. The Gross equity purchased stood at Rs 998.40 Crore and gross debt purchased stood at Rs 463.50 Crore, while the gross equity sold stood at Rs 1,654.50 Crore and gross debt sold stood at Rs 245.40 Crore. Therefore, the net investment of equity and debt reported were (Rs 656.10) Crore and Rs 218.10 Crore respectively.

On Friday, the partially convertible rupee ended at 50.04 per dollar, stronger by 0.3% on Thursday’s closing at 50.18. The gains on the last day of the week of stock markets helped. The large domestic funds also bought heavily on the late trading day. On the other hand foreign funds have sold a net $13.5 billon of Indian stocks.

On BSE, total number of shares traded was 27.58 Crore and total turnover stood at Rs 3,580.22 Crore. On NSE, total volume of shares traded was 59.48 Crore and total turnover was Rs 9,484.66 Crore.

Top traded volumes on NSE Nifty – Unitech with 46884893 shares, Suzlon Energy with total volume traded 35436275 shares, followed by ICICI Bank with 18205400 shares, DLF with 17666655 shares and Reliance Petro with 13155836 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1360434 with a total turnover of Rs 16760.22 crores. Along with this total number of contracts traded in stock futures were 1242934 with a total turnover of Rs 11836.74 Crore. Total numbers of contracts for index options were 1353209 with a total turnover of Rs 18519.66 Crore and total numbers of contracts for stock options were 53296 and notional turnover was Rs 579.53 Crore.

Today, Nifty would have a support at 2,585 and resistance at 2,720 and BSE Sensex has support at 8,740 and resistance at 9,100.

Post Session Market - Nov 21, 2008

The domestic market broke its seven days of losing trend and concluded the day with handsome gains on huge buying across the board. The market opened strongly after a sharp pull back from yesterday on the back of recovery in the Asian markets from initial fall along with reduction in domestic inflation figures. The wholesale price index stood at 8.90% for the week ended 8th November 2008, marginally below the previous week’s annual rise of 8.98%.

The market maintained its opening gains and continued to trade strongly though touched dotted line after mid session. Further, market managed to gain strength and rallied again to close with heavy gains on short covering and firm global markets. BSE Sensex crossed 8,900 mark with increase of 5.49% and NSE Nifty ended around 2,700 mark with gain of 5.5%. From the sectoral front, most of the indices closed in green and Power, Oil & Gas, Capital Goods, PSU, Bank, Teck and IT stocks were in limelight as strong buying witnessed in these baskets. However, Reality index remain out of favour during the trading session.

Among the Sensex pack 26 stocks ended in green territory and 4 in red. The market breadth was negative as 1293 stocks closed in red while 1177 stocks closed in green and 96 stocks remained unchanged.

The BSE Sensex closed higher by 464.20 points at 8,915.21 and NSE Nifty ended up by 140.30 points at 2,693.45. The BSE Mid Caps and Small Caps closed with gains of 20.87 points and 5.42 points at 2,916.66 and 3,390.76 respectively. The BSE Sensex touched intraday high of 8,988.03 and intraday low of 8,442.31.

Gainers from the BSE Sensex pack are Reliance Infra (14.07%), Reliance Communication Ltd (13.64%), Sterlite Indus (9.10%), NTPC Ltd (8.80%), HDFC (8.49%), SBI (8.29%), TCS Ltd (7.89%), BHEL (7.29%), L&T Ltd (6.75%), Reliance (6.49%), ONGC Ltd (6.10%) and Maruti Suzuki (5.90%).

Losers from the BSE Sensex pack are DLF Ltd (3.41%), JP Associates (2.18%), ACC Ltd (2.08%) and Tata Power (0.47%).

The BSE Power index gained (6.21%) or 92.94 points to close at 1,588.64. Major gainers are Reliance Infra (14.07%), GVK Power (13.28%), NTPC Ltd (8.80%), Suzlon Energy (8.04%), BHEL (7.29%) and Power Grid (6.28%).

The Oil & Gas index ended up by (5.69%) or 298.88 points at 5,550.89 as Reliance (6.49%), ONGC Ltd (6.10%), Reliance Petroleum (5.72%), Cairn Ind (5.52%), BPCL (4.78%) and IOC (4.22%) in positive territory.

The BSE Capital Goods index ended higher by (5.59%) or 346.99 points at 6,556.37. Major gainers are Suzlon Energy (8.04%), BHEL (7.29%), L&T Ltd (6.75%), Alstom Proje (4.90%), Punj Lloyd (4.71%) and Reliance Industrial Infra (4.64%).

The BSE Teck index advanced by (5.22%) or 95.69 points to close at 1,927.62 as Reliance Communication Ltd (13.64%), Deccan Chronicle (11.75%), Jagran Prak (9.53%), TCS Ltd (7.89%), Financ Tech (7.52%) and Idea Cell (7.15%) ended in positive territory.

The BSE PSU index surged (5.04%) or 220.39 points to close at 4,589.33. Gainers are Nalco (10.55%), NTPC Ltd (8.80%), SBI (8.29%), BHEL (7.29%), SAIL (7.25%) and Power Grid (6.28%).

The BSE Reality index dropped by (2.00%) or 33.64 points to close at 1,645.42. Losers are Unitech Ltd (9.39%), Housing Dev (4.05%), Penland Ltd (3.78%), DLF Ltd (3.41%), Ansal Infra (3.37%) and Mahindra Life (2.27%).

Mid Session Market - Nov 21, 2008

The markets are still trading higher as the benchmark indices are witnessing huge buying interest. The Capital Goods, IT, Power, Oil & Gas, Metal and Banking stocks are on the buyer’s ride today. Further the positive Asian markets also added to the rally. The BSE Mid Cap and the BSE Small Cap index are however trading with marginal gain.

The BSE Sensex is now trading above the 8,700 mark and the NSE Nifty is hovering around the 2,600 mark.

The overall market breadth is negative as 1074 stocks are advancing while 1090 stocks are declining and the 92 stocks remained unchanged on BSE.

On the global market front, the Asian Markets made a sharp rebound from the day’s low as investors started betting on battered financial and technology shares. Nikkei, Shanghai Composite, Hang Seng and Straits Times index are trading higher by (2.70%), (1.14%), (3.83%) and (1.88%) respectively.

Hindalco Industries reported the top gainer from the BSE Sensex pack as it was trading higher by (6%) at Rs. 53 while DLF the top loser down by (5.46%) at Rs. 194.

The BSE Mid cap is higher by 4.69 points at 2,900.48 and the BSE small Cap advanced by 6.58 points to trade at 3,391.92.

At 12.31 pm, BSE Sensex was at 8,715.08 up by 264.07 points while the NSE Nifty was at 2,629.85 up by 76.70 points.

BSE Metal index advanced by 154.46 points at 4,404.95 as Hindalco Industries (5.50%), NALCO (5.10%), Sterlite Industries (4.86%) and SAIL (4.69%) are trading in green.

BSE Bankex index is trading higher by 151.48 points at 4,549.77. Gainers are Kotak Bank (4.63%), SBI (4.26%), PNB (3.65%), AXIS Bank (3.07%) and HDFC Bank (3.01%).

BSE Oil & Gas index is trading 216.90 points higher at 5,468.91 as ONGC (3.71%), Gail India (2.51%), Indian Oil (2.72%) and RPL (2.36%) are trading in positive.

BSE Capital goods index surged by 275.87 points to 6,485.25. The main gainers are L&T (4.38%), Siemens (4.61%), Punj Lloyd (3.28%), BHEL (4.94%) and ABB (1.42%).

BSE IT index inclined by 100.86 points to trade at 2,444.70 as TCS (6.28%), Wipro (4.51%), Infosys Technologies (3.88%), Satyam Computer (2.85%) are trading in positive.

BSE Power index is trading 66.23 points higher at 1,561.93. The main gainers are Suzlon Energy (8.80%), GVK Power (5.56%), Torent Power (3.68%), NTPC (3.91%).

BSE Realty index slipped by 50.37 points to 1,628.69. The major losers are Unitech (10.67%), HDIL (6.27%), Omaxe Ltd. (5.37%), DLF (5.14%) and Parsavnath (3.13%).

BSE Auto inclined by 40.78 points to 2,293.75. Leading to its gain are Mahindra & Mahindra (3.43%), Maruti Suzuki (2.83%), Tata Motors (2.85%).

Pre Session Market - Nov 21,

Today Markets are likely to open with blood bath as US markets closed in deep red and other Asian markets have also opened with brutal losses. The job markets data caused the carnage in US and the weak sentiments have now plagued the other Asian markets. The sentiments are very fragile and as today is the closing day of the weak one could witness the investors being in a cautious note and hence little chances for markets to bounce back. The inflation data for the week ended November 8, 2008 recorded at 8.90% lower than 8.98% in the week earlier.

On Thursday, domestic Markets opened with heavy losses and continued the down trend till the end. The weak setiments across the markets in the world could be the sole cause of the fall. However investors are also skeptic about the present domestic economic scenario. Markets across Asia, Europe and US have faced extreme bearish pressures due to concerns over the global economy moving towards recession. Sensex and Nifty fell by 3.68% and 3.11% respectively. Realty, CD and Oil & Gas were the worst hit as they fell by 8.30%, 4.95%, 4.64% respectively. During the trading session we expect the market to be trading in deep red.

The BSE Sensex closed lower by 322.77 points at 8,451.01 and NSE Nifty ended lower by 81.85 points at 2553.15. The BSE Mid Caps and Small Caps closed with losses of 102.60 points at 2,895.79 and by 107.78 points at 3,385.34. The BSE Sensex touched intraday high of 8,540.46 and intraday low of 8,316.39.

On Thursday, US markets fell drastically. The bad job market news and the weak financial sector caused the blood bath in the markets. The latest jobless data shows 11th consecutive decline in monthly nonfarm payrolls. Initial jobless claims for the week ended November 15, 2008 jumped 27,000 to 542,000. That took the 4-week moving average to 506,500 from 490,750. Further the continuing claims increased to 4.01 million from 3.90 million. Crude oil futures for the December delivery fell by $4 cents to $49.62 a barrel on New York Mercantile Exchange. This is the lowest price since May 23, 2005. The weak concern about the economy has pulled the demand for oil.

The Dow Jones Industrial Average (DJIA) closed lower by 444.99 points at 7552.29 NASDAQ index lost 70.30 points at 1,316.12 and the S&P 500 (SPX) also closed lower by 54.14 points to close at 752.44 points.

Indian ADRs ended negative. In technology sector, Infosys fell by (5.67%) and Wipro ended low by (8.19%) followed by Satyam that ended low by (5.81%) and Patni Computers closing low by (6.49%). In banking sector ICICI Bank was low by (9.72%), while HDFC Bank fell (9.66%). In telecommunication sector, Tata Communication declined by (8.53%), while MTNL declined by (5.69%). Sterlite Industries was low by (5.23%).

Today the major stock markets in Asia opened negative. The Shanghai Composite is trading low by 73.89 at 1,909.87 Hang Seng is low by 293.00 points at 12,005.56. Further Japan''s Nikkei is low by 170.93 points at 7,532.11. Straits Times is also trading low by 26.86 points at 1,587.09 and South Korea’s Seoul Composite is low by 9.09 points at 939.60.

The FIIs on Thursday stood as net sellers in equity and net buyers in debt. The Gross equity purchased stood at Rs 1,884.00 Crore and gross debt purchased stood at Rs 337.60 Crore, while the gross equity sold stood at Rs 2,092.20 Crore and gross debt sold stood at Rs 0.00 Crore. Therefore, the net investment of equity and debt reported were (Rs 208.10) Crore and Rs 337.60 Crore respectively.

On Thursday, the partially convertible rupee ended at 50.18/22 per dollar, weaker by 0.3% on Wednesday’s closing at 50.02/03. The weak markets have led to outflow of dollars hugely, however today the heavy selling of dollars by state-run banks on behalf of the central bank helped the rupee to pair off its weakness.

On BSE, total number of shares traded was 22.17 Crore and total turnover stood at Rs 2,899.59 Crore. On NSE, total volume of shares traded was 48.36 Crore and total turnover was Rs 7,793.97 Crore.

Top traded volumes on NSE Nifty – Suzlon Energy with total volume traded 22989561, followed by Unitech with 19375349, Reliance Petro with 15043893, ICICI Bank with 12389261 and SAIL with 10482309 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1019079 with a total turnover for the same was Rs 12060.2 crores. Along with this total number of contracts traded in stock futures were 931039 with a total turnover of Rs 8985.35 Crore. Total numbers of contracts for index options were 1199223 and total turnover was Rs 16379.92 Crore and total numbers of contracts for stock options were 52216 and notional turnover was Rs 558.36 Crore.

Today, Nifty would have a support at 2,405 and resistance at 2,535 and BSE Sensex has support at 8,010 and resistance at 8,310.

Post Session Market - Nov 20, 2008

The Indian markets closed with deep cut on heavy selling pressures across the sectoral indices. The weak cues from the global markets led the domestic market to open on the backfoot and kept on hovering I the negative territory throughout the trading session without showing any sign of recovery. The fall in weekly inflation figures fell to give a support to the market. The wholesale price index rose 8.90% in the 12 months to 8 November 2008, marginally below the previous week''s annual rise of 8.98%.

From the sectoral front, the Realty index was the worst hit that closed with a cut of more than 8%. Along with this, Consumer Durables, Oil & Gas, Bankex, Metal and Auto indices also remained out of favor that closed with losses of more than 4% each. The BSE Sensex ended below 8,500 level and NSE Nifty closed below 2,600 mark. The Midcap and Small cap stocks were also under extreme pressures.

Among the Sensex pack 25 stocks ended in red territory and 5 in green. The market breadth was negative as 1899 stocks closed in red while 594 stocks closed in green and 77 stocks remained unchanged.

The BSE Sensex closed lower by 322.77 points at 8,451.01 and NSE Nifty ended down by 81.85 points at 2,553.15. The BSE Mid Caps and Small Caps closed with losses of 102.60 points and 107.78 points at 2,895.79 and 3,385.34 respectively. The BSE Sensex touched intraday high of 8,540.46 and intraday low of 8,316.39.

Losers from the BSE Sensex pack are DLF 8.56%, Reliance Communication 8.32%, Sterlite Inds 7.96%, ICICI Bank 7.87%, HDFC bank 7.30% and JP Associates 6.66%.

The BSE Realty index dropped by (8.30%) or 151.88 points to close at 1,679.06. Losers are HDIL 11.06% along with Unitech 9.87%, Ansal Infra 9.71%, Indiabull Real 9.57%, Orbitco 8.99%, DLF 8.57% and Penland 7.04%.

The BSE CD index lost (4.95%) or 91.97 points to close at 1,763.93. Major losers are Blue Star 8.76%, Rajesh Exports 7.22%, Gitanjali GE 4.61%, Videocon Inds 4.37% and Titan Inds 2.80%.

The BSE Oil and Gas index ended down by (4.64%) or 255.47 points at 5,252.01 as Reliance Inds 6.58%, Cairn India 5.37%, Aban Offshore 4.56%, RPL 4.31%, Gail India 4.05%, RNRL 3.31% and HPCL 2.47% closed lower.

The BSE Bankex index ended lower by (4.32%) or 198.66 points to 4,398.29 as Yes bank 8.34%, ICICI Bank 7.87%, Indus Ind Bank 7.48%, HDFC bank 7.30%, Oriental bank 5.41%, IOB 5.37%, Axis bank 5%, Federal bank 4.82% closed in negative.

The BSE Metal index ended down by (4.18%) or 185.65 points at 4,250.49. Major losers are Gujarat NRE Coke 8.25%, Sterlite Inds 7.96%, Jindal Steel 7.48%, Sesa Goa 7.47%, JSW Steel 7.21%, NMDC 5.81% and Hind Zinc 4.47%.

The BSE Auto index plunged (4.14%) or 97.27 points to close at 2,252.97. Losers are Bharat Forge 8.15%, Maruti Suzuki 6.52%, Tata Motors 6.47%, Amtek Auto 6.17%, Bajaj Auto 5.41% and Hero Honda 5.21%.

Mid Session Market - Nov 20, 2008

The markets are not showing any sign of recovery and are still trading lower with a deep cut. The selling pressure continued across the board mainly led by the Realty, Banking, Auto, IT and Metal stocks. The BSE Mid Cap and the BSE Small Cap index are also trading lower with a loss of more than 3% each.

Inflation has further declined to 8.90% for the week ended November 8, marginally below the previous week''s annual rise of 8.98%. This sharp fall in inflation was mainly on account of declining prices of fuel items, triggered by fall in international crude prices.

The BSE Sensex is now trading below the 8,400 mark and the NSE Nifty is hovering around the 2,500 mark.

The overall market breadth is negative as 385 stocks are advancing while 1847 stocks are declining and the 60 stocks remained unchanged on BSE.

On the global market front, the Asian Markets are trading lower as Nikkei, Shanghai Composite, Hang Seng and Straits Times index are trading lower by (6.89%), (0.79%), (6.05%) and (3.25%) respectively.

HDFC reported the top loser from the BSE Sensex pack as it was trading lower by (9.96%) at Rs. 1,230 followed by Tata Power down by (8.44%) at Rs. 620.

The BSE Mid cap is lower by 112.09 points at 2,886.30 and the BSE small Cap slipped by 127.42 points to trade at 3,365.70.

At 12.31 pm, BSE Sensex was at 8,363.75 down by 410.03 points while the NSE Nifty was at 2,526.60 down by 108.40 points.

BSE Metal index dropped by 216.83 points at 4,219.31 as Jindal Steel (9.07%), Gujarat NRE (8.04%), JSW Steel (5.47%) and Sterlite Industries (5.12%) are trading in red.

BSE Bankex index is trading lower by 280.82 points at 4,316.13. Losers are ICICI Bank (7.91%), HDFC Bank (7.33%), IDBI Bank (5.88%), PNB (5.49%) and AXIS Bank (4.08%).

BSE Oil & Gas index is trading 263.86 points lower at 5,243.62 as Aban Offshore (5.93%), Essar Oil (5.41%), Gail India (4.58%) and Cairn India (4.56%) are trading in negative.

BSE Capital goods index slipped by 220.13 points to 6,176.63. The main losers are Gammon India (6.83%), Punj Lloyd (5.49%), BHEL (3.82%), L&T (2.76%) and Siemens (1.03%).

BSE IT index declined by 96.96 points to trade at 2,313.98 as Tech Mahindra (5.85%), Wipro (4.74%), Satyam Computer (4.67%), Infosys Technologies (3.67%) are trading in negative.

BSE Power index is trading 69.81 points lower at 1,460.11. The main losers are Tata Power (8.14%), Suzlon Energy (3.78%), Power Grid (3.41%), Reliance Power (2.78%).

BSE Realty index slipped by 138.27 points to 1,692.67. The major losers are HDIL (11.01%), India Bull Real (10.21%), Unitech (7.56%) and DLF (6.89%).

BSE Auto declined by 108.80 points to 2,241.44. Leading to its fall are Maruti Suzuki (6.10%), Hero Honda (4.96%), Bajaj Auto (4.57%) and Mahindra & Mahindra (4.61%).

Pre Session Market - Nov 20, 2008

Today Markets are likely to open with heavy blood bath as US markets ended in deep red and other Asian markets have also opened with heavy losses. The US economic forecasts are very poor, which could affect the markets sentiments of various other nations severely. Apart from the weak global cues, the domestic economic scenario is not very encouraging to support the weak markets sentiments. Today one could witness the markets to be trading in deep red amidst weak sentiments across the markets around the world.

On Wednesday, domestic Markets opened positive but could not retain its charm till the end. The early gains were later paired off heavily and the markets plunged into red territory. The sentiments got worst after the post mid session as investors started booking profits. Sensex and Nifty fell by 1.83% and 1.79% respectively. CG, Bankex and Power were the worst hit as they fell by 3.47%, 2.86%, 2.68% respectively. During the trading session we expect the market to be trading in deep red.

The BSE Sensex closed lower by 163.42 points at 8,773.78 and NSE Nifty ended lower by 48.15 points at 2,635.00. The BSE Mid Caps and Small Caps closed with losses of 61.93 points at 2,998.39 and by 65.54 points at 3,493.12. The BSE Sensex touched intraday high of 9,236.27 and intraday low of 8,726.80.

On Wednesday, US markets fell drastically on weak macro economic data. The CPI numbers have fallen by 1% as energy prices fell by 8.6%. Fed has reduced forecasts for GDP growth and inflation amidst concerns of economic slowdown. The housing construction data fell to lowest on records. For 2008, the Fed expects the economy will grow between 0.0% and 0.3%, down sharply from its previous forecast of 1.0% to 1.6%. The 2009 forecast now calls for growth between -0.2% and 1.1%, down from the previous forecast of 2.0% to 2.8%. The Fed also raised its unemployment forecast. Crude oil futures for the December delivery fell by $68 cents or 1.3% to $52.94 a barrel on New York Mercantile Exchange. The EIA on Wednesday reported that the demand fell by 7% against year ago as consumptions have shrunken due to economic crisis.

The Dow Jones Industrial Average (DJIA) closed lower by 427.47 points at 7997.28 NASDAQ index lost 96.85 points at 1,386.42 and the S&P 500 (SPX) also closed lower by 52.54 points to close at 806.58 points.

Indian ADRs ended negative. In technology sector, Infosys fell by (7.25%) and Wipro ended low by (6.74%) followed by Satyam that ended low by (6.09%) and Patni Computers closing low by (4.20%). In banking sector ICICI Bank was low by (13.63%), while HDFC Bank fell (10.14%). In telecommunication sector, Tata Communication declined by (14.97%), while MTNL declined by (6.33%). Sterlite Industries was low by (4.97%).

Today the major stock markets in Asia opened negative. The Shanghai Composite is trading low by 5.85 at 2,011.62. Hang Seng is low by 649.39 points at 12,166.41. Further Japan''s Nikkei is low by 357.59 points at 7,915.63. Straits Times is also trading low by 43.05 points at 1,622.54 and South Korea’s Seoul Composite is low by 45.57 points at 971.25.

The FIIs on Wednesday stood as net sellers in equity and debt. The Gross equity purchased stood at Rs 1,137.60 Crore and gross debt purchased stood at Rs 29.60 Crore, while the gross equity sold stood at Rs 1,506.90 Crore and gross debt sold stood at Rs 243.70 Crore. Therefore, the net investment of equity and debt reported were (Rs 369.30) Crore and (Rs 214.10) Crore respectively.

On Wednesday, the partially convertible rupee ended at 50.02/03 per dollar, weaker by 0.7% on Tuesday’s closing at 49.66/67. The concerns of falling stock markets and off-shore dollar demand have hurt the rupee badly.

On BSE, total number of shares traded was 24.07 Crore and total turnover stood at Rs 3,545.97 Crore. On NSE, total volume of shares traded was 51.40 Crore and total turnover was Rs 9,286.43 Crore.

Top traded volumes on NSE Nifty – Suzlon Energy with total volume traded 39584638, followed by SAIL with 19132332, Unitech with 17824847, ICICI Bank with 11769881, Reliance Petro with 11254154 and Reliance with 10156564 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1099000 with a total turnover for the same was Rs 13904.47 crores. Along with this total number of contracts traded in stock futures were 999188 with a total turnover of Rs 10027.8 Crore. Total numbers of contracts for index options were 1206852 and total turnover was Rs 17220.49 Crore and total numbers of contracts for stock options were 46937 and notional turnover was Rs 503.61 Crore.

Today, Nifty would have a support at 2,490 and resistance at 2,620 and BSE Sensex has support at 8,205 and resistance at 8,730.

Post Session Market - Nov 19, 2008

The domestic market pared all its earlier gains during the second half of session to close in red terrain due to lower US index futures and weak European markets. Fears of more foreign fund outflow offset expectation of an interest rate cut by Reserve Bank of India and more measures from the government to revive the domestic economy. The market took a rebound from five-day losing streak and belled the day on positive note. The benchmark indices continued to trade higher till afternoon on support of sustained buying on key stocks.

Further market was not capable to continue the momentum and started losing ground on account of weak cues worldwide. Finally market concluded the day with negative gap. The BSE Sensex ended below 8,800 level and NSE Nifty closed below 2,700 mark. From the sectoral front, the Capital Goods stocks were worst performers as ended with cut of more than 3%. Apart from that the Bank, Power, Teck, Metal, PSU and IT stocks also followed the same trend as witnessed most of the selling from these baskets. Midcap and Small cap stocks were also under bears'' control. However, FMCG, Auto and Consumer Durables stocks were able achieve favor from the market.

Among the Sensex pack 25 stocks ended in red territory and 5 in green. The market breadth was negative as 1718 stocks closed in red while 778 stocks closed in green and 77 stocks remained unchanged.

The BSE Sensex closed lower by 163.42 points at 8,773.78 and NSE Nifty ended down by 48.15 points at 2,635. The BSE Mid Caps and Small Caps closed with losses of 61.3 points 2,998.39 and by 65.54 points at 3,493.12. The BSE Sensex touched intraday high of 9,236.27 and intraday low of 8,726.80.

Losers from the BSE Sensex pack are JP Associates (6.04%), Hindalco (5.19%), Reliance Communication Ltd (5.15%), Grasim Industries (4.62), L&T Ltd (4.12%), Reliance Infra (3.99%), HDFC (3.74%), ICICI Bank (3.62%), Satyam Computer (3.57%), HDFC Bank (3.28%), Wipro Ltd (3.18%) and BHEL (2.81%).

Gainers from the BSE Sensex pack are ITC Ltd (2.80%), Ranbaxy Lab (1.86%), M&M Ltd (1.03%), Maruti Suzuki (0.73%) and DLF Ltd (0.13%).

The BSE Capital Goods index dropped by (3.47%) or 229.74 points to close at 6,393.76. Losers are Praj Industries (8.17%), Thermax Ltd (7.51%), Aiaengineer (7.11%), Areva (6.13%), Suzlon Energy (5.74%) and Bharat Bijli (5.27%).

The BSE Bank index lost (2.86%) or 135.53 points to close at 4,596.95. Major losers are Allahabad Bank (5.82%), Karnataka Bank (5.39%), IDBI Bank (5.12%), Union Bank (4.36%), Kotak Bank (4.19%) and Indian Overseas Bank (3.94%).

The BSE Power index ended down by (2.68%) or 42.06 points at 1,529.92 as GMR Infra (9.41%), GVK Power (9.20%), Suzlon Energy (5.74%), Lanco Infra (4.36%), Reliance Infra (3.99%) and Siemens Ltd (3.40%) in negative territory.

The BSE Teck index ended lower by (1.90%) or 36.70 points to 1,898.09 as Tanla (11.31%), Tech Mahindra (8.54%), Mphasis Ltd (7.99%), Tata Communication Ltd (6.65%), Dish TV (5.93%) and Tel Eighteen (5.45%) ended in negative territory.

The BSE Metal index ended down by (1.77%) or 80.14 points at 4,436.14. Major losers are Hindalco (5.19%), Nalco (5.05%), Gujarat NRE C (4.90%), Steel Authority (3.99%), Welspan Gujarat SR (3.76%) and Ispat Industries (2.17%).

The BSE PSU index plunged (1.72%) or 78.12 points to close at 4,453.96. Losers are MRPL (7.28%), Allahabad Bank (5.82%), IDBI Bank (5.12%), Nalco (5.05%), Union Bank (4.36%) and Indian Overseas Bank (3.94%).

The BSE FMCG index gained (1.52%) or 27.94 points to close at 1,866.02. Gainers are Nestle Ltd (2.95%), United Spr (2.84%), ITC Ltd (2.80%), Marico (2.05%) and Colgate Palm (0.58%).

Mid Session Market - Nov 19, 2008

The markets gains further ground and are now trading strongly as fresh buying witnessed among the selective scrips mainly led by the Realty, Oil & Gas, Metal, Auto and Banking stocks. Some bit of recovery is seen in the Asian market. The BSE Mid Cap and the BSE Small Cap index are also trading higher. The markets got a boost on reports that the RBI may announce a rate cut in a week or two. Further, there were reports that the government in order to boost the economy may inject a massive Rs 50,000 crore for funding infrastructure projects.

The BSE Sensex is now trading above the 9,150 mark and the NSE Nifty above the 2,750 mark.

The overall market breadth is positive as 1135 stocks are advancing while 1034 stocks are declining and the 79 stocks remained unchanged on BSE.

On the global market front, the Asian markets are trading mixed after managed to reover from the early lows as Shanghai Composite, Hang Seng and Straits Times index are trading higher by (5.42%), (1.51%) and (0.51%) respectively. However, the Nikkei and KLSE Composite index are trading lower by (0.66%) and (0.11%) respectively.

DLF reported the top gainer from the BSE Sensex pack as it was trading higher by (6.74%) at Rs. 239.20 while Satyam Computer the top loser down by (2.04%) at Rs.237.15.

The BSE Mid cap is higher by 14.26 points at 3,074.58 and the BSE small Cap marginally higher by 0.09 points to trade at 3,558.75.

At 12.31 pm, BSE Sensex was at 9,164.67 up by 227.47 points while the NSE Nifty was at 2,758.75 up by 75.60 points.

BSE Metal index surged by 162.19 points at 4,678.47 as Sterlite Industries (7.23%), NALCO (4.74%), Jindal Steel (4.46%) and SAIL (3.58%) are trading in green.

BSE Bankex index is trading higher by 153.92 points at 4,886.40. Gainers are AXIS Bank (4.64%), Kotak Bank (3.90%), SBI (3.21%), HDFC Bank (3.92%) and ICICI Bank (2.54%).

BSE Oil & Gas index is trading 249.14 points higher at 5,821.16 as Cairn India (3.66%), RNRL (3.87%), RPL (3.17%) and ONGC (3.06%) are trading in positive.

BSE Capital goods index advanced by 167.12 points to 6,793.62. The main gainers are Siemens (4.34%), BHEL (3.39%), L&T (2.66%), ABB (2.29%) and Havell India (2.22%).

BSE IT index declined by 30.64 points to trade at 2,417.12 as Mphasis (7.72%), Tech Mahindra (2.15%), Satyam Computer (2.13%), Infosys Technologies (0.84%) are trading in negative.

BSE Power index is trading 37.02 points higher at 1,609. The main gainers are Reliance Power (3.78%), Suzlon Energy (3.76%), Tata Power (3.56%), GVK Power (3.43%).

BSE Realty index improved by 78.18 points to 1,917.05. The major gainers are India Bull Real (8.23%), Mahindra Life (6.19%), DLF (7.23%) and Parsavnath (3.21%).

BSE Auto inclined by 49.18 points to 2,356.53. Leading to its gain are Maruti Suzuki (5.31%), Mahindra & Mahindra (4.44%), Hero Honda (4.20%) and Tata Motors (1.66%).

Pre Session Market - Nov 19, 2008

Today markets are likely to open positive as they have shed enough in the previous trading days. A little recovery is what we anticipate in today’s trading session. There are some positive efforts from the government to consolidate the domestic economic growth trend. Gov’t has imposed a 5% import duty on steel and iron & steel products; 20% import duty on edible and soya oil in a protectionist measure for domestic players.

Govt has also urged various sectors like Airlines, Automobiles and hotel to reduce the prices to boost the demand. Gov’t may also reduce the sales tax on Airlines from 22% to 4% on a uniform basis. Realty sector on the other hand has urged for reduction in the loan interest rates to 7% so as to counter act the falling demand and the high cost of borrowings.

On Tuesday, domestic markets fell drastically and closed in red. The sentiments were weak as many other Asian and other European markets were also trading in red. The economic slowdown across the world has caused negative impact on the sentiments of investors. The FIIs are continuously pulling back their money. The Economic summit could not cheer the markets’ sentiments. Sensex and Nifty fell by 3.81% and 4.16% respectively. Teck, IT, Power and Bankex were the worst hit as they fell by 4.96%, 4.70%, 4.67% and 4.51% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed lower by 353.81 points at 8,937.20 and NSE Nifty ended lower by 116.40 points at 2,683.15. The BSE Mid Caps and Small Caps closed with losses of 73.04 points at 3,060.32 and by 102.73 points at 3,558.66. The BSE Sensex touched intraday high of 9,169.05 and intraday low of 9,169.05.

On Tuesday, US markets closed in green. Hewlett-Packard announced that its preliminary fourth quarter earnings topped estimates and issued fiscal year 2009 earnings guidance was above expectations. The treasury also bought $ 33.6 billion in preferred stock from 21 banks. Ben Bernake stated that there are some signs of improvement in the Credit Markets. Crude oil futures for the December delivery rose by $56 cents to $54.39 a barrel on New York Mercantile Exchange. The crude oil prices fell on anticipations that the global economic meltdown would further curb the energy demand.

The Dow Jones Industrial Average (DJIA) closed higher by 151.17 points at 8424.75 NASDAQ index gained 1.22 points at 1,483.27 and the S&P 500 (SPX) also closed higher by 8.37 points to close at 859.12 points.

Indian ADRs ended negative. In technology sector, Infosys fell by (1.23%) and Wipro ended low by (2.91%) followed by Satyam that ended low by (4.37%) and Patni Computers closing low by (0.55%). In banking sector ICICI Bank was low by (3.26%), while HDFC Bank fell (2.33%). In telecommunication sector, Tata Communication declined by (0.53%), while MTNL declined by (4.15%). Sterlite Industries was low by (2.42%).

Today the major stock markets in Asia opened negative. The Shanghai Composite is trading high by 15.19 at 1,917.62. Hang Seng is low by 148.35 points at 12,767.54. Further Japan''s Nikkei is low by 148.28 points at 8,180.13. Straits Times is also trading low by 16.82 points at 1,675.73 and South Korea’s Seoul Composite is low by 39.51 points at 996.65.

The FIIs on Tuesday stood as net sellers in equity and net buyers in debt. The Gross equity purchased stood at Rs 1,586.50 Crore and gross debt purchased stood at Rs 714.70 Crore, while the gross equity sold stood at Rs 2,218.40 Crore and gross debt sold stood at Rs 176.90 Crore. Therefore, the net investment of equity and debt reported were (Rs 631.90) Crore and Rs 537.80 Crore respectively.

On Tuesday, the partially convertible rupee ended at 49.66/67 per dollar, weaker by 0.6% on Monday’s closing at 49.34/36. The fall in the share market and expectations of foreign money going out has led to depreciation in rupee. This year foreign funds have withdrawn $13.1 billion.

On BSE, total number of shares traded was 22.78 Crore and total turnover stood at Rs 3,031.86 Crore. On NSE, total volume of shares traded was 50.44 Crore and total turnover was Rs 8,330.23 Crore.

Top traded volumes on NSE Nifty – SAIL with total volume traded 26207709, followed by Unitech with 23471833, Suzlon Energy with 22470297, Reliance Petro with 10975453 and ICICI Bank with 10634806 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1183511 with a total turnover for the same was Rs 14970.66 crores. Along with this total number of contracts traded in stock futures were 802230 with a total turnover of Rs 8509.13 Crore. Total numbers of contracts for index options were 1349464 and total turnover was Rs 19352.91 Crore and total numbers of contracts for stock options were 36312 and notional turnover was Rs 427.31 Crore.

Today, Nifty would have a support at 2,640 and resistance at 2,857 and BSE Sensex has support at 8,695 and resistance at 9,220.

Post Session Market - Nov 18, 2008

The domestic market continued its losing trend for the fifth consecutive session on the back of weakening economic concerns as well as fall in global equity markets. The domestic market opened with a deep cut and kept on hovering in the negative territory throughout the trading session. The investors took cautious approach before booking further positions. Though encouraging statement from the finance minister failed to give a boost to the market.

The finance Minister said that the government will take steps to stimulate the domestic economy to compensate for the downside caused by the downturn in the world economy. From the sectoral front, the IT, Power, Bankex, PSU and Metal index were in the firing line as most selling was witnessed from these baskets. The market breadth was weak as 1831 stocks closed in red while 661 stocks closed in green.

The Finance Minister said the government may consider cutting excise duty on some items as a part of efforts to boost factory output. He said the government may consider cutting excise duty on some items as a part of efforts to boost factory output. He, however, added that the country could miss its annual export target of $200 billion for this fiscal year as the slowdown in developed nations trims overseas demand.

The Reserve Bank Of India governor Duvvuri Subbarao said, "We are constantly monitoring the situation. We will take appropriate action at the appropriate time”.

Among the Sensex pack 23 stocks ended in red territory while 7 stock ended in green territory. The market breadth was negative as 1594 stocks closed in green while 924 stocks closed in red and 74 stocks remained unchanged.

The BSE Sensex closed lower by 353.81 points at 8,937.20 and NSE Nifty ended down by 116.4 points at 2,683.15. The BSE Mid Caps closed with losses of 73.04 points at 3,060.32 and Small Cap ended down by 102.73 points at 3,558.66. The BSE Sensex touched intraday high of 9,169.05 and intraday low of 8,871.71.

Losers from the BSE Sensex pack are Wipro down by (8.77%) along with NTPC 7.88%, ACC Ltd 7.17%, TCS 6.96%, ICICI bank 6.79%, Maruti Suzuki 6.74% and Bharti Airtel 6.32%.

The BSE IT index dropped by (4.70%) or 120.73 points to close at 2,447.76. Losers are Wipro 8.77%, Mosear Baer 8.58%, NIIT Ltd 7.56%, HCL Tech 7.45%, Finance Tech 7.09%, TCS 6.96%.

The Power index ended down by (4.67%) or 77.07 points at 1,571.98 as NTPC 7.88%, Suzlon Energy 7.08%, Crompton Greaves 6.61%, ABB 5.77%, Tata Power 5.75%, Reliance Power 5.28% and Power Grid 5.09% closed in negative territory.

The BSE Bankex index ended lower by (4.51%) or 223.56 points at 4,732.48. Major losers are Kotak bank 9.95%, Karnataka bank 8.23%, Indus Ind Bank 7.83%, IOB 7.61%, ICICI Bank 6.79%, SBI 5.12% and Yes bank 5.06%.

The BSE Consumer Durables index lost (3.12%) or 62.51 points to close at 1,940.40. Major losers are Gitanjali GE (8.53%), Videocon Ind (3.59%), Videocon Ind (3.42%), Reliance (7.37%) and Blue Star L (0.54%).

The BSE Metal index lost (4.38%) or 206.82 points to close at 4,516.28. Losers are Nalco 13.41%, Jai Corp 9.78%, Jindal Saw 9.27%, Jindal Steel 6.61%, NMDC 6.51% and Hind Zinc 5.25%.

The BSE Realty index ended lower by (3.60%) or 68.64 points at 1,838.87 as Unitech 7.72%, Ansal Infra 7.17%, Parsvnath 4.88%, Omaxe 4.77%, Orbitco 4.57% and HDIL 3.70%.

Mid Sesion Market - Nov 18, 2008

The markets continued its losing streak and are trading in deep red as selling pressure continued across the board. The Banking, Power, IT, Metal, Capital Goods and Realty stocks are facing the most selling pressure today. The BSE Mid Cap and the BSE Small Cap index are also trading lower with a cut of 2% each.

The BSE Sensex is now trading below the 8,900 mark and the NSE Nifty below the 2,700 mark.

The overall market breadth is negative as 486 stocks are advancing while 1667 stocks are declining and the 75 stocks remained unchanged on BSE.

On the global market front, the Asian Markets are trading mostly lower as Nikkei 225, Shanghai Composite, Hang Seng and Straits Times index are trading lower by (2.28%), (6.22%), (5.59%) and (2.79%) respectively.

Wipro reported the top loser from the BSE Sensex pack as it was trading lower by (8.41%) at Rs. 230.75 followed by ICICI Bank down by (7.54%) at Rs.357.85.

The BSE Mid cap is lower by 67.06 points at 3,066.30 and the BSE small Cap slipped by 88.31 points to trade at 3,573.08.

At 12.31 pm, BSE Sensex was at 8,959.32 down by 331.69 points while the NSE Nifty was at 2,696.20 down by 103.35 points.

BSE Metal index dropped by 170.05 points at 4,553.05 as NALCO (7.96%), Sterlite Industries (5.79%), Gujarat NRE (4.51%), JSW Steel (4.31%) and SAIL (4.03%) are trading in red.

BSE Bankex index is trading lower by 230.50 points at 4,725.54. Losers are Kotak Bank (9.30%), ICICI Bank (7.04%), SBI (5.57%), AXIS Bank (5.67%) and HDFC Bank (4.45%).

BSE Oil & Gas index is trading 184.48 points lower at 5,474.16 as Essar Oil (4.96%), RNRL (4.91%), Aban Offshore (4.09%) and RPL (4.20%) are trading in negative.

BSE Capital goods index slipped by 230.19 points to 6,638.22. The main losers are ABB (6.54%), Siemens (4%), Punj Lloyd (4.82%), Praj Industries (3.29%) and Gammon India (3.56%).

BSE IT index declined by 118.27 points to trade at 2,450.22 as HCL Technologies (7.35%), Wipro (7.52%), Satyam Computer (5.16%), TCS (4.76%) are trading in negative.

BSE Power index is trading 66.79 points lower at 1,582.26. The main losers are Tata Power (6.27%), NTPC (5.16%), Power Grid (5.29%), Reliance Power (4.09%).

BSE Realty index slipped by 64.18 points to 1,843.33. The major losers are Unitech (5.85%), Parsavnath (5.37%), Ansal Infra (3.97%) and HDIL (3.84%).

BSE Auto declined by 49.18 points to 2,356.53. Leading to its fall are Mahindra & Mahindra (4.52%), Maruti Suzuki (3.41%), Bajaj Auto (2.91%) and Tata Motors (2.21%).

Pre Session Market - Nov 18, 2008

Today Markets are likely to open negative as US markets closed in red and other Asian markets have opened with heavy blood bath. The domestic markets would follow the trends of other markets in Asia; however the news of economic summit to be held in Delhi by the Finance minister may further move the markets. One could expect more rate cuts by RBI to inject more liquidity into the system. Apart from that many more other measures might be unveiled by the finance minister to help irrigate the financial draught and economic slowdown. After yesterday’s volatile session today, we expect the markets to remain further volatile.

On Monday, domestic Markets opened positive but later dived into red territory. The sentiments were weak as European markets also traded in deep red amidst concerns of global economic meltdown. The market was surprised to the news that Japan also added to the list of recession stricken countries. The other Asian markets also ended in red. However during the end session the markets paired off its heavy losses and formed a U shape curve. Sensex and Nifty fell by 1.01% and 0.38% respectively. Realty, Bankex, CD and Metal were the worst hit as they fell by 5.17%, 3.87%, 3.26% and 3.08% respectively. During the trading session we expect the market to be trading volatile.

The BSE Sensex closed lower by 94.41 points at 9,291.01 and NSE Nifty ended lower by 10.80 points at 2,799.55. The BSE Mid Caps and Small Caps closed with losses of 65.19 points at 3,216.08 and by 48.33 points at 3,765.05. The BSE Sensex touched intraday high of 9,836.11 and intraday low of 9,267.49.

On Monday, US markets closed in red. The Citi group has planned to cut nearly 52,000 jobs out of its 3,52,000 work force, to reduce costs. The economic conditions across the globe remained weak as Japan too falls into recession first time since 2001.The New York empire manufacturing index fell to 25.4 from its October level of 24.6. Crude oil futures for the December delivery rose by $40 cents to $55.35 a barrel on New York Mercantile Exchange. As the US industrial production gained investors anticipate improvement in the demand of crude oil.

The Dow Jones Industrial Average (DJIA) closed lower by 223.73 points at 8273.58 NASDAQ index lost 34.80 points at 1,482.05 and the S&P 500 (SPX) also closed lower by 22.54 points to close at 850.75 points.

Indian ADRs ended mixed. In technology sector, Infosys fell by (1.17%) and Wipro ended low by (2.69%) followed by Satyam that ended low by (0.91%) and Patni Computers closing high by 0.36%. In banking sector ICICI Bank was low by (0.60%), while HDFC Bank fell (1.62%). In telecommunication sector, Tata Communication declined by (1.40%), while MTNL inclined by 2.62%. Sterlite Industries was high by 2.25%.

Today the major stock markets in Asia opened negative. The Shanghai Composite is trading low by 47.62 at 1,982.87. Hang Seng is low by 391.49 points at 13,138.04. Further Japan''s Nikkei is low by 172.71 points at 8,349.87. Straits Times is also trading low by 24.39 points at 1,725.28 and South Korea’s Seoul Composite is low by 35.47 points at 1,042.85.

The FIIs on Monday stood as net sellers in equity and net buyers in debt. The Gross equity purchased stood at Rs 2,152.00 Crore and gross debt purchased stood at Rs 1,930.40 Crore, while the gross equity sold stood at Rs 2,716.20 Crore and gross debt sold stood at Rs 1,43.20 Crore. Therefore, the net investment of equity and debt reported were (Rs 564.20) Crore and Rs 1787.10 Crore respectively.

On Monday, the partially convertible rupee ended at 49.34/36 per dollar, weaker by 0.7% on Friday closing at 49.01/03. Large companies buying dollar and nose-diving stock markets have increased the demand of dollar.

On BSE, total number of shares traded was 26.20 Crore and total turnover stood at Rs 3,230.17 Crore. On NSE, total volume of shares traded was 55.68 Crore and total turnover was Rs 8,902.46 Crore.

Top traded volumes on NSE Nifty – Unitech with total volume traded 42751089, followed by Suzlon Energy with 31932005, SAIL with 17529988, ICICI Bank with 14442323 and Tata Steel with 13005386 shares.

On NSE Future and Options, total number of contracts traded in index futures was 1093140 with a total turnover for the same was Rs 14117.03 crores. Along with this total number of contracts traded in stock futures were 830107 with a total turnover of Rs 8,467.49 Crore. Total numbers of contracts for index options were 1236078 and total turnover was Rs 18033.62 Crore and total numbers of contracts for stock options were 44312 and notional turnover was Rs 468.76 Crore.

Today, Nifty would have a support at 2,720 and resistance at 2,915 and BSE Sensex has support at 8,825 and resistance at 9,495.

Post Session Market - Nov 17, 2008

The domestic market recovered smartly from the lower levels during final trading but still ended below the dotted line. The market opened on positive note but was not able to hold the momentum slipped soon after start. The benchmark indices tumbled in afternoon trade after Japan joined the list of economies in recession and world leaders failed to deliver specific measures to boost the global economy. The G-20 summit on Saturday and Sunday failed to come out with some concrete measures to steer the world out of the current slump.

Further market moved deeper into red on intense selling pressure, though shown recovery during last trading hours. The BSE Sensex ended below 9,300 level and NSE Nifty closed around 2,800 mark. From the sectoral front, the Reality index underperformed the benchmark index as closed with decrease of more than 5%. Apart from that the Bank, Metal, Consumer Durables, FMCG, Auto, Capital Goods and Power index also followed the same path as witnessed most of the selling from these baskets. Midcap and Small cap stocks were also under bears'' control.

Among the Sensex pack 19 stocks ended in red territory and 10 in green and 1 remain unchanged. The market breadth was negative as 1800 stocks closed in red while 679 stocks closed in green and 60 stocks remained unchanged.

The BSE Sensex closed lower by 94.41 points at 9,291.01 and NSE Nifty ended marginally down by 10.80 points at 2,799.55. The BSE Mid Caps and Small Caps closed with losses of 82.72 points 3,133.36 and by 103.66 points at 3,661.39. The BSE Sensex touched intraday high of 9,435.89 and intraday low of 8,956.68.

The RBI on Saturday announced positive measures that include permission to housing finance firms to raise funds from overseas markets and raising the interest rate ceiling on foreign currency deposits. The bank has also given Rs 1000 crore loan to the National Housing Bank, a move that would “help the sagging real estate sector. Along with this the bank has effectively reduced the tax on lending to the real estate sector that means banks can now more freely lend funds to the sector.

Losers from the BSE Sensex pack are HDFC Bank (7.71%), Reliance Infra (6.23%), Tata Steel (4.01%), DLF Ltd (3.92), HDFC (3.84%), Satyam Computer (3.76%), Hindalco (3.36%), Tata Power (2.95%), Tata Power (9.64%), ITC Ltd (2.73%), M&M Ltd (2.63%) and ICICI Bank (2.25%).

Gainers from the BSE Sensex pack are Wipro Ltd (4.59%), ACC Ltd (4.29%), Tata Motors (2.56%), MAruti Suzuki (2.45%), Bharti Airtel (2.29%), NTPC Ltd (1.24%), Infosys Tech (1.22%), BHEL (1.03%), ONGC Ltd (0.97%) and HUL (0.11%).

The BSE Reality index dropped by (5.17%) or 104.02 points to close at 1,907.51. Losers are Sobah Dev (9.23%), Anant Raj (8.37%), Indiabull Real (7.54%), Unitech Ltd (6.56%), Ansal Infra (6.35%) and Omaxe Ltd (5.87%).

The BSE Bank index lost (3.87%) or 199.72 points to close at 4,956.04. Major losers are Kotak Bank (9.62%), Axis Bank (7.90%), HDFC Bank (7.71%), Union Bank (6.47%), Indian Overseas Bank (6.43%) and Canara Bank (5.75%).

The Consumer Durables index ended down by (3.26%) or 63.32 points at 1,877.08 as Gitanjali GE (8.92%), Rajesh Export (7.92%), Videocon Ind (3.90%), Titna Ind (3.01%) and Blue star L (0.05%) in negative territory.

The BSE Metal index ended lower by (3.08%) or 150.30 points at 4,723.10. Major losers are Jai Corp Ltd (12.42%), Jindal Saw (10.27%), JSW Steel (7.95%), NMDC Ltd (7.42%), Gujarat Nre C (7.16%) and SAIL (4.44%).

The BSE FMCG index ended lower by (1.90%) or 36.18 points to 1,870.50 as Ruchi Soya (12.04%), Nestle Ltd (5.57%), MArico Ltd (5.30%), Dabur India (3.34%), Tata Tea (2.03%) and United Brew (1.90%) ended in negative territory.

The BSE Auto index plunged (1.39%) or 33.90 points to close at 2,405.71. Losers are Amtek Auto (14.42%), Cummins Indi (6.09%), MRF Ltd (5.65%), Escorts Ltd (4.64%), Exide Indus (3.70%) and M&M Ltd (2.63%).

Mid Session Market - Nov 17, 2008

The markets have lost further grounds and are trading in deep red as selling pressure continued across the board. The Realty, Metal, Banking, Oil & Gas, Power and Capital Goods are facing the most selling pressure today. The BSE Mid Cap and the BSE Small Cap index are also trading lower with a cut of 3% each.

The BSE Sensex is now trading below the 9,000 mark and the NSE Nifty is hovering around the 2,700 mark.

The overall market breadth is negative as 426 stocks are advancing while 1748 stocks are declining and the 58 stocks remained unchanged on BSE.

On the global market front, the Asian markets are trading mixed as Nikkei 225, Shanghai Composite and KLSE Composite index are trading higher by (0.71%), (0.12%) and (0.75%) respectively. While Hang Seng and Straits Times index are trading lower by (0.51%) and (0.73%) respectively. Japan has also now enter into the recession after the Japan economy shrank at an annual pace of 0.4% in the July-September quarter, marking a two straight quarters of contraction.

Reliance Infra reported the top loser from the BSE Sensex pack as it was trading lower by (8.63%) at Rs. 472 followed by HDFC down by (7.65%) at Rs.1,439.

The BSE Mid cap is lower by 108.75 points at 3,107.33 and the BSE small Cap slipped by 109.47 points to trade at 3,655.58.

At 12.31 pm, BSE Sensex was at 8,989.27 down by 396.15 points while the NSE Nifty was at 2,703.65 down by 106.70 points.

BSE Metal index dropped by 288.80 points at 4,584.60 as Jindal Saw (8.37%), Gujarat NRE (7.68%), SAIL (6.40%), Sterlite Industries (6.21%) and Tata Steel (5.92%) are trading in red.

BSE Bankex index is trading lower by 283.68 points at 4,872.08. Losers are Axis Bank (8.06%), Kotak Bank (7.50%), HDFC Bank (6.63%), ICICI Bank (5.70%) and PNB (3.56%).

BSE Oil & Gas index is trading 232.67 points lower at 5,449.78 as Essar Oil (10.63%), RNRL (5.83%), Cairn India (7.51%) and RPL (3.55%) are trading in negative.

BSE Capital goods index slipped by 229.46 points to 6,721.86. The main losers are Praj Industries (10.20%), Punj Lloyd (5.11%), Havells India (5.14%), Crompton Greaves (6.14%) and Gammon India (3.18%).

BSE IT index declined by 77.57 points to trade at 2,490.30 as Satyam Computer (3.86%), TCS (3.21%), Wipro (2.45%), Mphasis (2.97%) are trading in negative.

BSE Power index is trading 56.69 points lower at 1,613.53. The main losers are GVK Power (6.78%), Tata Power (5.43%), Reliance Power (3.03%), Suzlon Energy (3.57%).

BSE Realty index slipped by 142.59 points to 1,868.94. The major losers are Unitech (10.82%), Mahindra Life (10.71%), Sobha Developers (7.89%) and India Bull Real (9.51%).

BSE Auto declined by 59.97 points to 2,379.54. Leading to its fall are Tata Motors (3.98%), Ashok Leyland (3.59%), Bajaj Auto (3.01%) and Hero Honda (1.89%).