Market ends in red: Midcap, smallcap outperform

The markets ended in red on account of selling pressure in largecaps from bank, FMCG, IT and energy sector. Broader markets held out their gains and BSE midcap and smallcap outperformed the Sensex. The midcap index was up 1% and smallcap index is up 1.4%.

Cues from Asia were not very encouraging as most of the Asia closing in red. Hang Seng down 1450 points or 5%, Shanghai down 2.5%, Straits and Thailand were down nearly 2% each.

Top gainers on the indices were Ranbaxy, Bharti Airtel, Cipla, SBI, NTPC, Tata Power, PNB and HPCL.

Noida Toll Bridge, Jaiprakash Hydro, RNRL, HMT are among the other gainers from broader markets.

Top losers on the indices were ONGC & ICICI Bank down over 4% each, HDFC Bank down 3%, Infosys and GlaxoSmithKline.

Sensex was down 385.45 points or 1.93% at 19590.78, and the Nifty down 85.10 points or 1.43% at 5847.30.

About 1569 shares have advanced, 1418 shares declined, and 75 shares are unchanged.

The BSE Smallcap Index ended at 9,847.02 down 1.1%.

The BSE Bankex was down 2% at 11,007.95. Union Bank, IOB, ICICI Bank, Andhra Bank, Karnataka Bank, Kotak Mahindra, Bank of India moved downwards.

The BSE Capital Goods Index was down 2% at 20,052.28. Punj Lloyd, AIA Engineering, Areva T&D, ABB, BHEL closed lower.

The BSE Auto Index closed at 5,328.69 down 2%. Bharat Forge, Maruti, Escorts, MRF, Cummins, Tata Motors, Bajaj Auto closed lower.

The BSE Metal Index closed at 17,401.69 down 2%. Hindalco, Shree Precoated, NALCO, Hind Zinc, Mah Seamless closed lower.

The BSE FMCG Index closed at 2,026.66 down 4%. HUL, ITC, United Spirits, Tata Tea, United Brewerie, Colgate, HUL closed lower

BSE Oil and Gas Index closed down 2% at 11,505.54. ONGC down 4.9%, RIL down 1.9% ended in red.

The BSE IT Index was down 1.5% at 4,567.13. Mphasis, Patni Computer, Tech Mahindra, I-Flex Solution, TCS closed lower.

The NSE cash turnover was at Rs 22771.1 crore and the NSE F&O turnover was at Rs 77646.90 crore. The BSE cash turnover was Rs 9008.86 crore. Total market wide turnover was at Rs 109426.86 crore.

The Sensex and Nifty closed at an all-time high

The Sensex and Nifty closed at an all-time high. It was a sea of green and the Sensex
closed at 18814, up 155 points while Nifty was at 5524, up 83 points from the previous
close. The market breadth was positive with advances at 635 against declines at 520 on the NSE.
The BSE Midcap and Smallcap indices also gained over 1%. The BSE IT index was down 6%, while
Capital Goods was up 2.8%, Oil& Gas up by 1.7% and Realty up 2.7%. The BSE registered the
highest ever cash turnover of Rs 10,545 crore

No stopping the bulls; Sensex gains 378 points

After Tuesday (9 October 2007)'s solid surge, the market firmed up further today. The market hit new all-time high towards the latter part of the trading session. Easing of political worries and firm Asian markets boosted the bourses for the second day in a row. IT stocks edged higher ahead of Infosys' results which are due tomorrow, 11 October 2007. Capital goods, banking, realty and metal stocks surged. Auto stocks underperformed. The market breadth turned negative in the latter part of trade.

The market had pared gains in mid-morning trade after an initial surge to a record high. Mid-cap and small-cap indices underperformed the Sensex. European markets, which opened after Indian markets, were subdued today.

Asian markets, which opened before Indian markets, ended on positive note. MSCI's measure of Asia Pacific stocks excluding Japan hit a record high today.

The BSE 30-share Sensex rose 378.01 points, or 2.07%, to 18,658.25, a record closing high. Sensex opened with an upward gap of 193.19 points at 18,473.43. Sensex had climbed 423.23 points for the day at the day's high of 18,703.67 in late trade. It hit a low of 18,436.99 in the day.

The broader based S&P CNX Nifty was up 114.2 points, or 2.14%, to 5,441.45, a record closing high. It had hit a all-time high of 5,454.70 in late trade.

BSE clocked a turnover of Rs 8503 crore, higher than Tuesday (9 October 2007)’s Rs 7,815.67 crore.

Nifty October futures were at 5,457.25, a premium of 15.8 points or 0.29% over spot price of 5,441.45.

Nifty F&O segment clocked a turnover of Rs 79,786.18 crore today, 10 October 2007 compared to a turnover of Rs 82,362.26 crore on Tuesday, 9 October 2007.

The Congress-led United Progressive Alliance (UPA) government at the centre and its communist allies stepped back from the brink on Tuesday, 9 October 2007, agreeing to meet again this month to resolve a row over a nuclear deal with the United States. The next meeting of the UPA-Left committee which is looking into Left Front’s concerns over nuclear deal will be held on 22 October 2007. The committee held its fourth meeting in New Delhi yesterday, 9 October 2007.

The meeting was held in the backdrop of widening of rift on the nuclear deal with Left parties rejecting a plea of the government that it be allowed to engage in negotiations with International Atomic Energy Association (IAEA) over the nuke deal.

The fact the two sides would meet again signaled that the communists, whose parliamentary support keeps the ruling coalition in power, would not withdraw their support for the government immediately which the stock market had feared. News that the two sides would meet again sent Sensex surging 789 points on Tuesday, 9 October 2007.

Of the 30 shares of the Sensex, 24 had moved up, while the remaining were trading down. The market breadth turned weak on BSE in late trade: 1,291 scrips advanced, 1,405 declined, while 244 remained unchanged. The breadth was strong earlier during the day.

The BSE Mid Cap index rose 1.16% to 7,484.36 and BSE Small Cap index rose 0.51% to 9,022.75. Both these indices underperformed Sensex .

BSE Capital Goods index (up 4.37% to 16,631.35), BSE IT index (up 3.25% to 5,049), BSE Metal index (up 2.58% to 14,443.52), BSE Teck index (up 2.93% to 4,171.56) outperformed Sensex.

BSE Auto index (up 0.53% to 5,456.93), BSE Bankex (up 1.62% to 9,423.19), BSE Oil & Gas (up 1.11% to10,550.55), BSE Realty (up 1.99% to 9,944.78) underperformed the Sensex.

Infosys rose 3.74% to Rs 2,124.55 extending its recent solid rebound. Infosys will announce Q2 September 2007 results on Thursday, 11 October 2007. TCS (up 2.6% to Rs 1,124.95), Wipro (up 2.83% to Rs 503.15) and Satyam Computer Services (up 2.91% to Rs 484.25), also edged higher ahead of Infosys' results.

A total of seven brokerages expect a between 0.58% fall to a 4.6% rise in Infosys’ consolidated net profit as per Indian GAAP to between Rs 1,072.70 crore to Rs 1128.70 crore in Q2 September 2007 compared to net profit of Rs 1,079 crore Q1 June 2007. They expect a between 6.8% to 9.7% growth in Infosys’ revenue at between Rs 4,028.60 crore to Rs 4,138.40 crore in Q2 September 2007 compared to revenue of Rs 3,773 crore in Q1 June 2007.

Capital goods stocks surged. Larsen & Toubro (L&T) surged 6.6% to Rs 3,372. It hit an all-time high of Rs 3,450 today after it bagged $ 60 million order in Saudi Arabia.

Bharat Heavy Electricals (Bhel) rose 4.2% to Rs 2,330.65. It hit an all-time high of Rs 2,387 today. Suzlon Energy rose 5.7% to Rs 1,768.55. It hit an all-time high of Rs 1,791 today.

India’s largest private company in terms of market capitalisation and oil refiner Reliance Industries rose 0.65% to Rs 2,617.35. It hit an all-time high of Rs 2,675 today.

Auto stocks underperformed Sensex. Hero Honda Motors (up 1.28% to Rs 753.70) and Tata Motors (up 1.78% to Rs 805.85) edged higher whereas Bajaj Auto (down 0..85% to Rs 2,620.95) and Maruti Suzuki India (down 0.39% to Rs 1,101.05) drifted lower.

ACC rose 3.53% to Rs 1,218.15 and was among the major gainers from Sensex pack.

Reliance Energy rose 3.4% to Rs 1,585.85. It hit an all time high of Rs 1,624.60 today. The stock rose today on reports a special purpose vehicle two-third owned by Reliance Energy won a contract to build a Rs 6,000 crore, 100-storeyed tower and a business centre in Manchirevula in Ranga Reddy district, in the outskirts of Hyderabad.

Ranbaxy Laboratories (down 0.45% to Rs 424.80), ITC (down 0.3% to Rs 184.05), Dr. Reddy’s Laboratories (down 1.47% to Rs 633.15), were top losers from Sensex pack.

Metal stocks extended gains. Tata Steel (up 1.31% to Rs 844.55), Hindalco Industries (up 3.84% to Rs 170.30) and JSW Steel (up 3.44% to Rs 879.20) edged higher.

Realty stocks blossomed. DLF (up 3.1% to Rs 892.45), Unitech (up 1.73% to Rs 332.25) and Indiabulls Real Estate (up 0.6% to Rs 648.80) edged higher.

Side counters, Ashco Industries (up 20% to Rs 46.20), Sandesh (up 20% to Rs 204.75), Adlabs Films (up 21.67% to Rs 648.15), Triton Valves (up 20% to Rs 1,781.10) and Gujarat Mineral Deevelopment Corporation (up 20% to Rs 1,632.60), surged.

Madhya Desh Paper (down 10.44% to Rs 13.30) and Majestic Auto (down 10.58% to Rs 31.70) edged lower.

Drug maker Lupin rose 0.48% to Rs 588 after it acquired Japanese generic drug maker Kyowa Pharmaceutical Industry Co.

iGate Global Solutions rose 7.06% to Rs 339.50 on BSE after it said its net profit surged 124% in Q2 September 2007 over Q2 September 2006.

GAIL India declined 0.35% to Rs 383.90, after it signed gas sales agreement with Pragati Power Corporation for gas supply to a power project.

Bharti Airtel was up 3.04% to Rs 1,071.95 after Reserve Bank of India allowed foreign institutional investors to buy further shares in the company as their holding has gone below the caution limit of the company’s paid up capital

Tata Motors moved up 1.78% to Rs 805.85 after it raised prices on its entire range of commercial vehicles by 2% to 2.5% effective from 8 October 2007.

ICSA India was up 1.93% to Rs 1628.50, after it today, 10 October 2007, set record date for 5-for-1 stock split.

Moser Baer (India) moved up 2.62% to Rs 303.95 on reports the company plans to launch low-end VCD and DVD players.

Lloyds Metals & Engineers declined 5% to Rs 222.10 on BSE, on fixing record date for 5-for-1 stock split.

Glenmark Pharmaceuticals rose 4.52% to Rs 426.80 on receiving final approval from the US Food and Drug Administration for marketing oxcarbazepine tablets.

Kinetic Engineering was up 3.04% to Rs 133.95 after its board approved issuing 1.5 crore redeemable non-convertible preference shares to Reliance Capital.

Power Finance Corporation rose 1.31% to Rs 208.05 on reporting 22.5% rise in net profit to Rs 282.22 crore in Q2 September 2007 over Q2 September 2006.

European markets trading in red today. France’s CAC 40 (down 0.27% to 5,846.13) and FTSE 100 (down 0.05% to 6,612.40) edged lower. Germany’s DAX (up 0.2% to 7,996.16) edged higher.

Asian markets, which opened before the Indian markets, were trading in green today. Hong Kong’s Hang Seng (up 1.21% to 28,569.03) Japan's Nikkei (up 0.1% at 17,177.89), South Korea’s Seoul Composite (up 1.34% to 2,041.12) edged higher. Singapore’s Straits Times (down 1.33% to 3,814.45) edged lower.

The BSE 30-share Sensex saw a record single day rally of 788.85 points, or 4.51%, to 18,280.24, an all-time closing high on Tuesday, 9 October 2007. Sensex completed its 17,000 to 18,000 journey in just 8 trading sessions, the second fastest 1,000-point rally ever. The market had hit 17,000 mark on 26 September 2007.

Short covering by trapped bears, who went short anticipating political problems, also pulled up the market significantly yesterday.

Heavy FII buying and hopes of a further cut in interest rates by the US Federal Reserve at its next policy meeting on 30-31 October 2007 have boosted the bourses in the past few days.

Sensex sheds 282 points

The market drifted lower today, falling for the third day in a row, due to
concerns arising on the political front. BSE IT index was the only index among
sectoral and niche indices on BSE which was in the green. Market breadth was
quite weak. Metal, auto and realty stocks plunged.

BSE Mid-Cap and BSE Small-Cap indices underperformed the Sensex. Reliance
Industries lost ground. Asian markets were trading mixed. European markets were
subdued.

The market had opened on a firm note taking cue from firm global markets. The
Sensex hit all-time high at the onset of the trading session. It later slipped
into the red as political concerns took centrestage.

The BSE 30-share Sensex lost 281.97 points, or 1.59%, to 17,491.39 points. It
opened with an upward gap of 128.58 points at 17,901.94 and soon surged to
all-time high of 17,982.59. Sensex hit an intra-day low 17,322.14 in afternoon
trade. At day's low of 17,322.14, Sensex had lost 451.22 points for the day.

BSE clocked a turnover of Rs 7206 crore compared to Friday (5 October 2007)'s
Rs 7,778.58 crore.

The S&P CNX Nifty ended down 100.75 points, or 1.94%, to 5,085.10. It had hit
a high of 5,249.30 in early trade. It hit a low of 5,024.75 in afternoon trade.

NSE F&O segment clocked a turnover of Rs 69,842.2 crore today, 8 October 2007
compared to turnover of Rs 64,188.48 crore on Friday, 5 October 2007.

Nifty October 2007 futures were at 5071.80 , a discount of 13.30 points or
0.26% to the spot price of 5085.10.

BSE Mid Cap index declined 273.91 points or 3.66% to 7,211.60 and BSE Small
Cap index was down 300.87 points or 3.31% to 8,801. Both these indices
underperformed the market.

BSE Metal index (down 3.77% to 13,589.61), BSE Oil & Gas index (down 3.09% to
9,797.65), BSE Realty index (down 3.61% to 9,283.22), BSE Health Care index
(down 3.06% to 3,709.31), BSE PSU index (down 3.79% to 8,024.21), BSE Bankex
(down 2.6% to 8,984.86) underperformed the Sensex.

BSE Auto index (down 1.77% to 5,270.71), BSE Capital Goods index (down 1.89%
to 15,445.63), BSE IT index (up 0.63% to 4,770.31) outperformed Sensex.

Speculation of mid-term polls gained strength after Congress President Sonia
Gandhi on Sunday, 7 October 2007, indicated her party’s readiness to face
elections by saying those opposing the nuclear deal were enemies of development
and peace. Gandhi said that there was a need to keep a certain pace in power
generation if the pace of the country's progress has to be maintained.

Though Gandhi did not specifically refer to the opposition to the deal from
the Left Front, her comments assume importance, coming in the wake of the
standoff between the government and the Left Front over the nuclear deal.

A day after Congress president Sonia Gandhi attacked the opponents of the
India-United States civil nuclear deal, the Left parties today, 8 October 2007,
said India need not surrender its "vital interests" to America on the agreement.
"The Left parties categorically reiterate that the nuclear deal with the US is
against the interests of India. Those who advocate the deal, should know that
India is capable of developing nuclear energy primarily on a self-reliant
basis," top Left leaders said in a statement. "We need not surrender our vital
interests to America on this plea," CPI (M) general secretary Prakash Karat, CPI
leader A B Brdhan, Forward Bloc's Deabrata Bisws and RSP's Abani Roy said in the
statement.

While the operationalisation of the Indo-US nuclear deal has been put on hold
by the government pending the findings of a committee set up by the government
to look into Left Front’s concerns over the deal, it cannot be stalled forever.

The Communists want the government to defer the Indo-US nuclear accord by six
months and have warned of a political crisis if it is implemented. The four
Communist parties have 60 members of the parliament (MPs) in the 545-member
lower house of parliament. The Congress-led United Progressive Alliance (UPA)
government at the centre could fall or be reduced to a minority if the Left
withdraws support.

On the flip side, political turmoil arising from nuke deal will not impact
India’s basic economic fundamentals though some infrastructure projects may get
delayed. India’s economy is expected to post strong growth for a long period of
time mainly due to favourable demographics.

Of the 30 shares of the Sensex, 7 had moved up, while the remaining were
trading down. The market breadth was quite weak on BSE: 450 scrips advanced,
2,252 declined, while 371 remained unchanged on BSE.

Metal index was the biggest loser from sectoral indices on BSE. Steel shares
declined after global steel industry association IISI said China, one of the
largest consumers of the metal, would be a net steel exporter of 50-55 million
tonnes in 2007.

Tata Steel (down 5.27% to Rs 789), Sail (down 5.2% to Rs 192.40) JSW Steel
(down 5.58% to Rs 804.20), edged lower. Other metal stocks Sterlite Industries
(down 2.66% to Rs 741.95) and Hindalco Industries (down 4.52% to Rs 161.55) also
declined.

IT stocks gained ahead of Q2 September 2007 results. Infosys begins the
earning season on 11 October 2007. BSE IT index was the only gainer from the
sectoral indices on BSE. Infosys (up 0.54% to Rs 2,000.45), TCS (up 0.78% to Rs
1,078.50), Satyam Computer Services (up 2.5% to Rs 455.55) and Wipro ( up 1.84%
to Rs 469.65), moved higher.

Bharat Heavy Electricals rose 1.73% to Rs 2,190.75. It hit a all time high of
Rs 2,250 today.

Reliance Energy (down 4.67% to Rs 1,379.50, ACC (down 5.23% to Rs 1,115.10),
Ranbaxy Laboratories (down 4.82% to Rs 412.30) and NTPC (down 4.57% to Rs
204.65) were the major losers from the Sensex pack.

India’s largest private company in terms of market capitalisation and oil
refiner Reliance Industries lost 2.7% to Rs 2,416.95.

Bharti Airtel was down 0.83% to Rs 984.80 on reports that it may sell around
10% stake in its unit, Bharti Infratel to a private equity player for $1.1
billion.

Jai Balaji Industries was locked at 5% upper limit of Rs 208.75 on BSE, after
it signed a memorandum of agreement with the Government of West Bengal for
setting up a steel plant, a cement plant and a captive power plant in the state.

Kotak Mahindra Bank down 4.96% to Rs 911.85 on reports that the bank is in
talks with some strategic investors to raise around $400 million via a qualified
institutional offering

Patni Computer Systems was up 4.77% to Rs 480.05 on reports that two of its
directors Gajendra Patni and Ashok Patni have ceased to be executive directors
of the company effective 1 October 2007.

iGate Global Solutions surged 9.76% to Rs 264.25 ahead of the company
announcing its Q2 September 2007 results on 10 October 2007.

Dollex Industries declined 6.77% to Rs 104.70 on BSE, after it announced
today, 8 October 2007, it has signed a memorandum of understanding with the
state government of Madhya Pradesh for Agro-Energy complex.

Housing Development Finance Corporation was up 0.13% to Rs 2,458.30 on hopes
of a higher valuation of its insurance business as the company is expected to
finalise a partner for its insurance venture by end of this month.

Rajesh Exports was down 0.74% to Rs 879.75 after it said its net profit rose
156% in Q2 September 2007.

McNally Bharat Engineering Company declined 3.48% to Rs 190.05 on BSE, after
it announced today, 8 October 2007, it has received a Rs 38.31 crore order from
Maharashtra State Power Generation Company for its new Parli thermal project.

Simplex Projects declined 4.47% to Rs 271.55, after it announced today, 8
October 2007, it has recently bagged orders for piling, foundation and
residential complex in Kolkata from various agencies.

Among side counters, Intelvisions Software (up 19.96% to Rs 123.20), Phoenix
International (up 20% to Rs 25), Surana Corporation (up 19.92% to Rs 44.25) ,
Panchmahal Steel (up 16.95% to Rs 310.50) and Patspin India (up 14.27% to Rs
13.77) edged higher.

Nagarjuna Chemicals & Fertiliser (down 15.13% to Rs 51.05), ITL Industries
(down 14.53 % to Rs 50.30) and Mangalore Chemicals & Fertilisers (down 17.12% to
Rs 32.20) were major losers.

Asian markets, which opened before the Indian markets, were mixed today.
Taiwan's Taiwan Weighted (up 1.04% to 9,717.17) edged higher. Singapore’s
Straits Times (down 0.06% to 3,820.31) and Hong Kong’s Hang Seng (down 0.22% to
27,770.29) edged lower.

European markets, which opened after the Indian markets, slipped into the red
after starting on a positive note. France’s CAC (down 0.05% to 5,840.43), FTSE
100 (down 0.16% to 6,585.20) and Germany’s DAX (down 0.11% to 7,993.37) edged
lower.

American markets galloped on Friday,5 October 2007. The Dow gained 95.36
points, or 0.68 %, on the day, closing at 14,069.67. The S&P 500 had a record
session on Friday, posting new closing and intraday high records. rose 14.17
points, or 0.92 %, on the day to close at 1,557.01. US markets surged as
non-farm payrolls report released on Friday 5, October 2007 showed US employers
added 1,10,000 jobs in September 2007 and August 2007 job losses were revised to
a gain, helping lift worries about a US recession in the near term.

Market breaks 11 consecutive days’ rally

The market declined today, 4 October 2007, ending an 11-day winning streak that had taken it to record highs. It had made a smart recovery in late trade from its earlier lower levels in day of volatile trading. Reliance Industries sprang back into action. Banking stocks were the major losers. Mid-cap and small-cap indices gained. The market breadth remained negative. Asian markets ended in red, while European markets were trading in green.

The market had opened soft, following weak Asian and US markets. After recovering briefly, it once again sank into red, only to spring back later. The market slipped to its lower levels for the day in mid-afternoon trade.

The BSE 30-share Sensex ended down 69.90 points, or 0.39%, to 17,777.14 points . It had hit a high of 17,890.49 and a low of 17,494.70 during the day. At its day’s low, the Sensex had shed 352.54 points. The S&P CNX Nifty closed lower 2.15 points, or 0.04%, to 5,208.65. It had touched a low of 5,126.05 in mid-afternoon trade.

Of the 30 shares of the Sensex, only 12 settled in the positive territory. The remaining ended in red. The market breadth was weak on BSE: 1,134 scrips had advanced, 1,608 declined, while 332 remained unchanged.

The BSE Mid-Cap index rose 34.27 points, or 0.45%, to 7,576.27, and the BSE Small-Cap index 39.61 points, or 0.44%, to 9,141.52. Thus, both the indices outperformed the broad market.

IT stocks declined today.Top software exporters Infosys Technologies (down 0.31% to Rs 1,995.10), Wipro (down 1.99% to Rs 461.30),Tata Consultancy Services (down 0.12% to Rs 1,078.65)and Satyam Computer Services (down 0.12% to Rs 450.45) turned weak after the Indian rupee touched a nine-and-a-half-year peak against the dollar on Wednesday, 3 October 2007.

The BSE Capital Goods index recovered from its lower levels. L&T was flat at Rs 2,896.25, Bhel (up 0.84% to Rs 2,091.70) and Unitech (up 5.45% to Rs 338.95) edged higher.

The BSE Metal index was the second highest gainer in the sectoral indices. Tata Steel (up 2.94% to Rs 864.75) and Jindal Steel & Power jumped 16.95% to Rs 6,291.75 on reports that it will spend $600 million to build an electricity plant in Turkey.

The Bankex was the biggest loser among the sectoral indices on expectation that the Reserve Bank of India will raise the cash reserve ratio (CRR). Constituents ICICI Bank shed 2.45% to Rs 1,061.35, and HDFC Bank 1.28% to Rs 1,404.20 after their American depositary receipts fell 2.2 % and 3.2 %, respectively, on Wednesday, 3 October 2007.State Bank of India declined 0.47% to Rs 1,900.35.

NTPC (up 4.33% to Rs 226.40) was the top gainer among the Sensex pack. It hit an all-time high of Rs 228.90 today. Other gainers were Tata Steel (up 2.94% to Rs 864.75), Cipla (up 2.19% to Rs 189.05),Reliance Energy (up 1.89% to 1,477.85) and Maruti Suzuki (up 2.1% to Rs 1,041.30) edged higher.

The largest private sector company and oil refiner Reliance Industries was up 1.21% to Rs 2,422.55.

HDFC lost 3.84% to Rs 2,494.65 and was the top loser from the Sensex pack. ONGC (down 3.77% to Rs 985.950), Hindalco Industries (down 1.84% to Rs 175.70) and Wipro (down 1.99% to Rs 461.30) were the other losers from the Sensex pack.

Among the side counters, Ensa Steel Industries (up 59.55% to Rs 6.35), Nagpur Power (up 19.93% to Rs 65.30), AMD Multiplast (up 20% to Rs 48.95), and Nava Bharat Ventures (up 20% to Rs 279.15) were the major gainers.

Valecha Engineering (down 32.21% to Rs 201.75), SPL Polymers (down 9.96% to Rs 8.14), Link Pharma Chem (down 9.34% to Rs 8.25), Dynemic Products (down 9.11% to Rs 22.95) were the major losers.

Kaveri Seed Company ended at Rs 230.10 on it debut on BSE, a premium of 35.35% over the IPO price of Rs 170.

Jindal Steel & Power jumped 16.95% to Rs 6,291.75 on reports that it will spend $600 million to build an electricity plant in Turkey.

Crisil had declined 0.91% to Rs 3,613.75, its high for the day after reports suggested it had tied up with Corporation Bank for rating of small and medium enterprises and small-scale industries.

Biocon advanced 4.9% to Rs 515.70 on reports that it is in talks with German pharma major Bayer AG for co-development of innovative biotech drugs.

Ranbaxy Laboratories moved up 0.84% to Rs 442.30 on reports that it is planning to hive off research and development of its new chemical entities into a separate company.

Eicher Motors soared 16.61% to Rs 442.30 on reports that European automobile major Volvo is set to acquire a majority stake in the company.

Sobha Developers extended gains by 2.25% to Rs 899.50 after it joined hands with QVC Realty and Chintels India to develop an integrated township on 192 acres in Gurgaon.

Tata Chemical jumped 2.8% to Rs 313.75 on reports that its wholly-owned subsidiary Brunner Mond is eyeing forward integration.

Dabur India up 1.39% to Rs 109.30 after a block deal of one crore shares (1.16% equity) at Rs 107 per share on the National Stock Exchange.

CS Software Enterprise had surged 4.14% to Rs 39 after securing a contract from Maharashtra State Electricity Distribution Company to implement electricity billing in Nasik, Maharashtra.

Most of the Asian markets, which opened before the Indian markets, were in red today. These included Hong Kong’s Hang Seng (down 1.84% to 26,973.98), Taiwan's Taiwan Weighted (down 0.75% to 9,627.39) and Japan's Nikkei (down 0.62% at 17,092.49). Singapore's Straits Times (up 0.78% to 3,783.81), however, had edged higher.

Most of the European markets, which opened after the Indian markets, were trading in red, except UK’s FTSE 100 (up 0.52% to 6,568.90): France’s CAC (down 0.07% to 5,802.29) and Germany’s DAX (down 0.04% to 7,952.43) edged lower.

American markets ended in red on Wednesday, 3 October 2007. The Dow Jones Industrial Average index shed 79.26 points to 13,968.05 and Nasdaq 17.68 points to 2,729.43 after getting hit by tech sell-off and job data fears.

The Sensex had ended up 518.42 points, or 2.99%, to 17,847.04, an all-time closing high on Wednesday, 3 October 2007. The S&P CNX Nifty was up 141.85 points, or 2.8%, to 5,210.80, an all-time closing high.

Market soars to record high; turnover on BSE gallops to above Rs 10000 crore

The market surged today in a volatile trade, with both the niche indices, BSE Sensex and S&P CNX Nifty, striking all-time highs. Index heavyweight Reliance Industries suregd. Pharma pivotals edged lower whereas IT pivotals rallied. Market breadth which was strong earlier during the day, turned weak in mid-afternoon trade.

Asian markets were mixed after firm opening. European markets were in the green.

As per provisional closing, Sensex ended up 557.34 points or 3.22% at 17,885.96. It had hit a fresh all-time high of 17,953.07 in early afternoon trade. It hit a low of 17,288.41 during mid-afternoon trade. Sensex opened with a upward gap of 138.79 points.

The S&P CNX Nifty was up 157.75 points or 3.11% at 5,226.70. It hit an all-time high of 5,261.35 in early afternoon trade today.

Market had come sharply off the higher level to slip into the red for a short while in mid-afternoon trade. At day's low of 17288.41, it had declined 40 points for the day. At day's high of 17,953.07, Sensex had risen 624.45 points for the day.

The market had spurted in opening trade with Sensex and S&P CNX Nifty hitting all-time highs after more bad news on the US housing market kept alive hopes of further US interest rate cuts after last month’s steep 50 basis points cut in fed funds rate to 4.75% from 5.25%.

BSE Mid-Cap index rose 10.45 points or 0.14% to 7,539.09 and BSE Small-Cap index declined 82.22 points or 0.9% to 9,102.30.

Turnover soared. BSE clocked a turnover of Rs 10024 crore compared to Monday (1 October 2007)’s Rs 7228.53 crore.

The market breadth was weak on BSE: 1070 scrips advanced 1,893 scrips declined and 314 scrips remained unchanged.

Out of the Sensex pack, 24 scrips advanced while rest declined.

India's largest private sector company and oil refiner Reliance Industries (RIL) was up 4.61% to Rs 2,395. It hit an all-time high of Rs 2,443.90 in the early afternoon trade today. As per reports, RIL paid 46% higher advance tax to Rs 649 crore in the second advance tax installment ended 15 September 2007, over 15 September 2006.

IT bigwigs firmed today on hopes quarterly earnings from the beaten down sector may not be as bad as widely feared. India’s second largest IT services exporter in terms of revenue Infosys was up 5.9% to Rs 2,004.80 and was the top gainer amongst the Sensex pack. TCS (up 4.12% to Rs 1,081.30), Satyam (up 1.86% to Rs 451) edged higher. Wipro rose 3.68% to Rs 470.65. Infosys kickstarts earnings reporting season on Thursday, 11 October 2007.

Pharma majors declined today. Cipla was down 1.93% to Rs 185. It was the top loser among the Sensex pack. Dr. Reddys Laboratories (down 0.37% to Rs 656), Ranbaxy Laboratories (down 0.27% to 439.80) were the major losers among the Sensex pack.

Hindustan Unilever (down 0.76% to Rs 220.70) and Ambuja Cements (down 1.46% to Rs 145.20) also edged lower.

Tata Power Company surged 13.22% to Rs 1,031.25. It hit an all-time high of Rs 1,150.

Reliance Energy rose 7.48% to Rs 1,450.40 on a volatile trade. It was the top gainer from the Sensex pack. NTPC rose 5.34% to Rs 217 while Reliance Communications rose 5.03% to Rs 642.65.

ONGC was up 2.76% to Rs 1,024.60. It hit an all-time high of Rs 1,052 today.

India's largest real estate developer in terms of revenue, DLF rose 15.90% to Rs 888.80. It hit an all-time high of Rs 895 in late trade. The Karnataka government has awarded the 9,187-acre Bidadi Knowledge City, which will be positioned as New Bangalore, to DLF. Dubai-government owned Limitless will own half the venture.

Among side counters, Amrit Banaspati (up 69.02% to Rs 7.65), ITL Industries (up 20% to Rs 54.40), SPL Polymers (up 20% to Rs9.07),Kerala Ayurveda (up 20% to Rs 88.95) were the major gainers.

Whereas, Resonance Specialities (down 14.02% to Rs 10.73) ,RoseLabs (down 10.58% to Rs 5.75), Acknit Knitting (down 13.23% to Rs 42.30) and Minda Industries (down 9.97% to Rs 142.15) were the major losers.

BSE Capital Goods index was the second largest gainer among the sectoral indices on BSE. Larsen and Toubro (L&T), India's largest engineering and construction company in India in terms of revenue rose 2.61% to Rs 2,888.10. It has reportedly floated a new arm, L&T Power Projects (L&T PPL), to foray into the booming power generation business.

Bharat Heavy Electricals was up 4.37% to Rs 2,077.80. Suzlon Energy had jumped 5.55% to Rs 1,556 after it secured an order from property developer DLF to build a wind farm with a total turbine capacity of 150 mega watt in Gujarat.

Anjani Synthetics hit 5% upper circuit to Rs 85.10 after it said its board would meet on Oct 23 October 2007 to consider issue of bonus shares.

Zenotech Laboratories hit 10% upper circuit at Rs 167.30 ahead of the firm's board meeting to consider a preferential issue of shares to financial investors.

Asian markets, which opened before Indian markets, were mixed. Hong Kong’s Hang Seng (down 2.55% to 27,479.94), Singapore's Straits Times (down 1.03% to 3,754.62) edged lower. Taiwan's Taiwan Weighted (up 0.8% to 9,700.71) and Japan's Nikkei (up 0.9% at 17,199.89) edged higher.

European markets, which opened after the Indian markets were mixed. UK’s FTSE 100 (up 0.42% to 6,527.90) and Germany’s DAX (up 0.05% to 7,950.76) edged higher. Whereas, France’s CAC (down 0.02% to 5,797.99) edged lower.

US blue-chip stocks edged lower on Tuesday, 2 October 2007, as investors booked profits a day after the Dow Jones Industrial Average hit a record high. Dow lost 40.24 points or 0.29% at 14,047.31. But the tech-heavy Nasdaq Composite Index rose 6.12 points or 0.2% at 2,747.11.

The market has been a roll with the Sensex hitting record high in each of the past nine trading sessions from 19 September 2007 to 1 October 2007. Heavy FII buying and hopes of a further cut interest rates by the US Federal Reserve at its next policy meeting on 30 October 2007-31 October 2007 has boosted bourses. From a low of 13,989.11 on 21 August 2007, Sensex galloped a whopping 3,339.51 points or 23.8% to 17,328.62 on Monday, 1 October 2007.

As per provisional data, FIIs bought shares worth a net Rs 1721.74 crore on Monday, 1 October 2007. Domestic institutions sold shares worth a net Rs 930 crore on that day.

Nifty outshines Sensex

The market extended recent solid gains and both the key indices Sensex and Nifty struck all-time closing highs. But the market came sharply off higher level in late trade after it had struck lifetime high in late afternoon trade. A sharp fall in Reliance Industries (RIL) pulled the market off higher level in late trade.

Mid-cap and small-cap indices touched all-time highs today. Market breadth was strong. European markets were trading in red. Asian markets were firm today.

The 30-shares BSE Sensex ended up 37.52 points or 0.22% at a fresh closing high of 17,328.62. It had hit a fresh all-time high of 17,425.34 in late afternoon trade. It hit a low of 17,144.58 in the day.

The broader S&P CNX Nifty today scored over Sensex. Nifty ended up 47.6 points or 0.95% at a fresh closing high of 5,068.95. It hit an all-time high of 5089.30 today. Nifty's near 1% rise was much higher than Sensex's 0.22% gain.

The BSE Mid-cap index rose 106.21 points or 1.43% to 7,528.64. It hit a all-time high of 7554.54 today. The BSE Small-cap index rose 84.59 points or 0.93% to 9,184.52. It hit an all time high of 9,218.52 today. Both these indices outperformed Sensex.

Sectoral indices on BSE displayed mixed trend., BSE Health Care Index (up 1.42% at 3,837.15),BSE TecK index (up 0.39% to 3,780.54), BSE Oil and Gas Index (up 1.26% at 9,682.95) ,BSE PSU index (up 1.97% to 8,363.25), outperformed the Sensex.

BSE Capital Goods Index (up 0.06% at 14,688.96), BSE IT Index (down 0.64% at 4,598.11), BSE Metal Index (down 0.33% at 13,899.77), BSE Consumer Durables index (down 0.83% to 4,764.56), Bankex (down 0.78% to 9,395.78) BSE Realty index (up 0.04% to 9,181.83), and BSE FMCG Index (down 0.47% at 2,151.10), BSE Auto Index (down 0.3% at 5,316.33) were underperformers.

In opening trade, the market had come off higher level soon after a firm start as political concerns took centrestage wth CPI (M) veteran Jyoti Basu on Saturday, 29 September 2007, ruling out the possibility of any compromise on the issue of Left’s opposition to the Indo-US nuclear deal. It had firmed up again later. The market had opened a firm note after tame US inflation data reinforced expectations of another cut in US interest rates.

While the operationalisation of the nuclear deal has been put on hold by the government pending the findings of a committee, it cannot be stalled forever.

The Communists want the government to defer the Indo-US nuclear accord by six months and have warned of a political crisis if it is implemented. The committee set up of the government to look into Left Front’s concerns over the deal is scheduled to hold its next meeting on 5 October 2007.

On the flip side, political turmoil arising from nuke deal will not impact India’s basic economic fundamentals though some infrastructure projects may get delayed. India’s economy is expected to post strong growth for a long period of time mainly due to favourable demographics.

BSE clocked a turnover of Rs 7197 crore compared to Friday (28 September 2007)'s Rs 7,951.21 crore.

Nifty October 2007 futures were trading at 5062.95, at a discount of 6 points or 0.01% to the spot price of 5,068.95.

NSE F&O clocked a turnover of Rs 61,451.29 crore today, 1 October 2007 compared to a turnover of Rs 56,998.5 crore on 28 September 2007.

Out of the 30 share Sensex stocks, 15 advanced and the rest declined.

Market breadth was strong on BSE: 1605 scrips advanced, 1126 declined while 343 scrips remained unchanged.

India’s largest private sector company by market capitalisation and oil refiner, Reliance Industries (RIL) was down 0.3% to Rs 2,289.35. The stock was volatile today. It moved between a low of Rs 2264.25 and high of 2327.80.

Reliance Retail, a subsidiary of the Mukesh Ambani-promoted Reliance Industries, has reportedly, sacked 400 staff in West Bengal due to its inability to start operations following stiff opposition from political parties and local traders. RIL had earlier laid off 1000 staff in Uttar Pradesh.

Reliance Energy (REL) galloped 11.94% to Rs 1,349.40. It struck an all time high of Rs 1,385 today. It was the top gainer from the Sensex pack. Reliance Power, the Anil Ambani group firm, in which REL holds 50% stake, will raise $2-$2.5 billion in the country’s largest power sector IPO. Reliance Power, which is implementing a clutch of large power generation projects across the country, will sell 10-15% to the public and institutions in the coming months to fund various projects.

State-run power producer NTPC rose 6.49% to Rs 206 on hopes of higher valuation after Reliance Energy's proposed initial public offering of its subsidiary Reliance Power. It touched an all-time high of Rs 207.90 today.

ONGC rose 4.09% to Rs 997.10. It hit an all time high of Rs 1,015 today.

Reliance Communication (up 4.48% to Rs 611.90) was another major gainers from the Sensex pack.

State Bank of India (down 2.93% to Rs 1,893.50) was the top loser amongst the Sensex pack. ITC (down 1.98% to Rs 185.95,Bajaj Auto (down 2.19% to Rs 2,484.10), Bharat Heavy Electricals (down 2.1% to Rs 1,990.05) and, HDFC Bank (down 2.44% to Rs 1,404) were the major losers amongst the Sensex pack.

Reliance Capital rose 14.15% to Rs 1,808.65 on BSE, on continued buying interest. It hit an all time high of Rs 1,850.95.

IT bigwigs like Infosys (down 0.19% to Rs 1,893.10), TCS (down 1.72% to Rs 1,038.55), Satyam (down 0.17% to Rs 442.75) , Wipro(down 1.28% to Rs 453.95) edged lower.

Among side counters, Binani Industries (up 20% to Rs 270), Spentex Industries (up 20% to Rs 34.50), Hatsun Agro Products (up 20% to Rs 259.55), Brady & Morris (up 20% to Rs 229.40) and SPL Polymers (up 20% to Rs 7.56) spurted.

India's third-biggest motorbike maker TVS Motor rose 1% to Rs 70.75 even after its sales declined 29% to 1,15,091 two-wheelers in September 2007, over September 2006.

Mahindra & Mahindra was up 1% to Rs 759.20 on reports that the group is planning to hive off its logistics division into a seperate company. Mahindra & Mahindra reported 25% rise in sales to 19,871 units in September 2007 over September 2006.

Maruti Suzuki India India's biggest car maker declined 0.7% to Rs 991.75 on recording 13.5% rise in sales to 67,448 vehicles in September, 2007 over September 2006.

Gulf Oil Corporation soared 3.4% to Rs 1538.25 on reports the firm is in talks with infrastructure and real estate funds for investments in the company’s mining and construction verticals.

Sterlite Optical Technologies rose 1.73% to Rs 241.20 after acquired 58.70% holding in equity share capital of Sterlite Infrastructure (SIPL). With this investment, SIPL has become subsidiary of the company. SIPL is into business pertaining to infrastructure projects and telecommunications.

Kavveri Telecom Products rose 4.29% to Rs 159.15. It said on Monday, 1 October 2007, it had acquired the technology, intellectual property rights and patents of cellular infrastructure base station Antenna Line of erstwhile Sigma Wireless, Ireland from US-based PCTEL Inc.

AVT Natural Products was up 7.45% to Rs 98.85 after it announced Friday, 28 September 2007, commencement of marigold flower processing unit AVT Bio-Products in Heilongjiang Province of North East China.

Compact Disc India down 2.5% to Rs 87.70. It announced today before the market hours that meeting of the board will be held on 15 October 2007 to consider the rights issue.

Dr. Reddys Laboratories was up 1.46% to Rs 658.45 after it announced on Friday, September 28, 2007, it has expanded its operations in the ASEAN region with the opening of its 41st overseas office in Manila, Philippines.

Bajaj Auto, India's second-biggest motorcycle maker declined 2.19% to Rs 2484.10 after its sales declined 23% to 2,32,496 units in September 2007 over September 2006.

Time Technoplast was up 1.82% to Rs 705.20 after it said on Monday, 1 October 2007 it bought a 74% stake in battery maker NED Energy for Rs 50.30 crore.

ICSA India declined 1.19% to Rs 1,676.55 after it secured work orders for a total contract value of Rs 93.47 crore from Chhattisgarh State Electricity Board, Raipur.

Lancor Holdings surged 7.12% to Rs 452 after its board approved share split from the face value of Rs 10 each to Rs 2 each.

MIRC Electronics up 12.98% at Rs 24.80 on reports that two of the three founders of the firm have broken off with the third and started talks with rival Videocon and Future Capital to sell a substantial stake in the main holding company that holds stake in the MIRC Electronics

HTMT Global rose 1.06% to Rs 434.45 after it said it will participate in applying telecom license.

India's top motorcycle maker, Hero Honda Motors declined 1.56% to Rs 733.15 even after it reported 4.3% rise in sales to 3,14,567 in September 2007 over September 2006.

Asian markets extended their recent rally on Monday, 1 October 2007. South Korea's Seoul Composite (up 0.83% at 1,962.67, Singapore's Straits Times (up 1.32% at 3,755.22) and Taiwan's Taiwan Weighted (up 0.13% to 9,488.50) and Japan's Nikkei (up 0.36% at 16,845.96 after it opened on a weak note) edged higher.

European markets, which opened after the Indian markets, slipped into the red again after Indian markets closed today. Earlier, European markets had recovered from a subdued start. Germany’s DAX (down 0.14% to 7,850.33), UK’s FTSE 100 (down 0.15% to 6,457.50) and France’s CAC (down 0.44% to 5,670.79) edged lower.

US stocks and bonds slipped as the dollar fell to a record low on Friday, 28 September 2007, amid concerns that US economic growth would continue to slow. The Dow Jones industrial average lost 17.31 points, or 0.12%, at 13,895.63. The Standard & Poor's 500 Index fell 4.63 points, or 0.30%, at 1,526.75. The Nasdaq Composite Index fell 8.09 points, or 0.3%, to 2,701.50.

US crude for November 2007 delivery lost $1.23 to settled at $81.65 a barrel on Friday, 28 September 2007, below its all-time high of $83.90.