4:48 PM - Heavy buying in the final hours of the session led the domestic stock market to recover from the intra day's low and closed on an upbeat note. The sentiment across the board was boosted on the back of statement from the Planning Commission Chairman Montek Singh Ahluwalia that the government is not considering imposing tax to curb capital flows and wants the inflows to rise little more. He said that the inflows of foreign funds were more needed for developing infrastructure and were unlikely to create asset price bubbles. Also, the positive opening of the European market also supported the investors' sentiments. This led the benchmark indices- BSE Sensex closed above the psychological mark of 17,000 while NSE Nifty above 5,050 mark. From the sectoral front, Bankex index (up 1.95 per cent), Oil and Gas index (1.52 per cent), Metal index (1.37 per cent) gained strength as most buying was witnessed from these baskets. The Realty stocks, which faced heavy selling pressures in the initial session, managed to attract the investor' confidence to witness some buying support.

Though the domestic market opened on a dismal note tracking the overnight loss of US stock market and bearish trend on the other Asian markets, managed to recover from the fall in the mid session but unable to sustain the momentum and tumbled as the profit booking takes a lead at higher level. Again the market managed to gain some strength in the final hours to recover from the deep fall on sustained buying support and close on an optimistic note. On the global front, the US stock market closed lower on the back of some discouraging news about initial jobless claims data came. The initial jobless claims for the week ending November 14 hit 505,000, which is in-line with the consensus estimate of 504,000 initial claims. Continuing claims came in at 5.61 million, which is in step with the 5.60 million. The stre... » Send to friends

2:48 PM - The markets made a sharp turn around from the from lows and moved back into positive territory following positive opening of the European markets. The BSE Sensex is now trading near the 17000 mark and the NSE Nifty above the 5000 mark in the afternoon trade. The Banking, Oil & Gas, FMCG and Metal stocks are witnessing renewed buying interest. The broader market indices also recovered from the early lows but are moving slowly.

The overall market breadth is positive as 1354 stocks are advancing while 1253 stocks are declining in BSE.

ACC reported the top gainer from the BSE Sensex pack, as it is now trading higher by (3.66 per cent) at Rs. 759.90 while Bharti Airtel reported the top loser trading down by (1.83 per cent) at Rs.287.50.

At 2.29PM the BSE Sensex is trading higher by 195.16 points at 16,980.81 and the NSE Nifty is trading higher by 52.75 points at 5,041.75.

The BSE Mid Cap increased by 43.52 points to 6,440.41 and the BSE Small Cap grew by 11.69 points to 7,506.48.

Losers from the BSE Sensex pack are Bharti Airtel trading lower by 1.57 per cent at Rs. 288.25 followed by Reliance Infra by 1.20 per cent at Rs. 1,092, Maruti Suzuki by 0.36 per cent at Rs. 1,540.90 and Wipro by 0.06 per cent at Rs. 645.

Leading the gainers from the BSE Sensex pack are ACC trading with gains of 3.03 per cent at Rs. 755.30 along with HDFC by 2.41 per cent at Rs. 2,814, Hindalco Inds by 1.96 per cent at Rs. 132.40, JP Associates by 1.90 per cent at Rs. 231, HDFC Bank by 1.89 per cent at Rs. 1,752.15, Reliance Inds by 1.69 per cent at Rs. 2,117.15 and Hero Honda by 1.69 per cent at Rs. 1,668.80.

BSE BANKEX index was ... » Send to friends

1:48 PM - The market started to drift down further after being range bound since opening. The market opened lower taking negative cues from the US and Asian markets and tried to recover from the days low. But the up move didn't sustain for long amid fears that the government might check the rush of foreign funds and it went into a choppy trend. Meanwhile, the Honorable Prime Minister of India, Mr. Manmohan Singh stated that the government will be focusing on 9 per cent GDP growth over the next few years ensuring overall benefit distribution. The Realty, Metal, IT and Banking sectors are showing significant weakness.

On the sectoral front, out of 13 Indices, all are in red. Realty fell by more than 2 per cent whereas IT, Banking, Metal, Auto sector are down by more than 1 per cent.

The Market breadth, showing the overall weakness in the market, is negative at the moment. On BSE, out of 2,615 stocks traded so far, 965 stocks advanced while 1,563 stocks declined. Nearly 87 stocks are unchanged.

At 1:19:28 PM BSE SENSEX was at 16,678.96 down by 106.69 points or by (0.64 per cent) and the NSE Nifty was at 4948.95 down by 40.05 points or by (0.8 per cent).

The BSE MIDCAP was at 6,344.01 down by 52.58 points or by (0.82 per cent)and the BSE SMLCAP was at 7,444.32 down by 50.47 points or by (0.67 per cent).

Gainers from the BSE Sensex are ACC climbed 2.05 per cent to Rs. 748.10 along with HDFC by 1.39 per cent at Rs. 2,786.05, HDFC Bank by 0.52 per cent at Rs. 1,728.55, ITC by 0.27 per cent at Rs. 257.10, HUL by 0.15 per cent at Rs. 275.60 and NTPC by 0.14 per cent at Rs. 213.70.

Losers from the BSE Sensex pack are Rel Infra trading lower by 3.38 per cent at Rs. 1,067.90 followed by Bharti Airtel by 2.73 per cent at Rs. 284.85, » Send to friends

12:48 PM - The market is still hovering in the negative territory following the weak cues from the global markets. After a dismal start, the domestic stock market made a smart recovery but did not able to sustain the momentum and tumbled as the profit booking takes a lead. Tracking the overnight losses on the US stock market and the bearish trend on the other Asian markets, led the investors to be cautious to book their positions. Further, the fears that the government might check the rush of foreign funds dampened the sentiments. The BSE Sensex is now trading below the 16,800 mark and the NSE Nifty below the 4,980 mark. The Consumer Durables, Realty and Metal index faces the pressure as most selling is witnessed from these baskets.

The Bank of Japan (BOJ) today in line with the expectations has left its benchmark interest rate at 0.1 per cent. BOJ also provides an upbeat outlook on the Japanese economy after Japan''s economy grew at the fastest pace in more than two years in the third quarter as stimulus lifted consumer spending and capital spending rose. However the bank said a self-sustaining domestic-demand recovery was still not assured.

Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal mining company to help supply of coal for its Rs 14,000-crore thermal power plant in Andhra Pradesh. The stock is now trading higher by (1.32 per cent) at Rs. 165.40.

Jindal Drilling & Industries has bagged an order worth Rs 635 crore from ONGC for hiring a drilling unit ''Noble Ed-holt'' for a five-year period. This rig is likely to get deployed in the month of December 2009. The stock is now trading higher by (9.31 per cent) at Rs. 570.55.

Edelweiss Capital has entered into a joint venture agreement with Japan-based Tokio Marine Holdings to form a life insurance JV. The comp... » Send to friends

11:48 AM - The domestic stock markets slips after touching the dotted as the profit booking takes a lead across the sectoral indices tracking the weak cues prompting investors to exit counters. The sentiments turned weak following the overnight losses on the US stock market and the bearish trend on the other Asian markets, which led the investors to be calculative to book their positions. Further, the sentiments also dampened on the back of fears that the government might check the rush of foreign funds. The Asian markets are mostly lower after the stocks on Wall Street fell as the investors took the view that the economic recovery in U.S. was going to be a long and drawn out affair. It was once again a negative start for the stocks on the domestic bourses.

The Bank of Japan (BoJ) at a regular policy meeting on interest rates today kept its overnight call-rate target at 0.1 per cent as widely expected and upgraded its assessment of the world''s second largest economy because of an improvement in exports. BoJ upgraded its economic assessment for the third straight month, saying that the private consumption is also recovering due to government policy measures.

The Realty stocks, which faced heavy selling pressures in the previous session, are having a tough time once again by witnessing a sharp fall in prices of key stocks in that space. The BSE Realty index is trading with losses of 1.30 per cent. The Metal and Bankex index are also in the sellers' radar as the index are down by 1.01 per cent and 0.78 per cent respectively.

On the stock specific, Jindal Drilling & Industries is trading with strong gains of 9.95 per cent at Rs. 573.90 as the company has obtained an order worth Rs 635 crore from Oil and Natural Gas Corporation (ONGC) for hiring a drilling unit for 5 years. However, it bagged an order "for charter hire of drilling unit ''Noble Ed-holt'' from ONGC » Send to friends

10:48 AM - The markets opened lower today tracking weak cues from the global markets. The Asian markets are also trading mostly lower. The BSE Sensex is now trading below the 16800 mark and the NSE Nifty below the 5,000 mark in the early trade. The Realty, Consumer Durables, Banking and Metal stocks remained under pressure in the early trade. While, Power and select Capital Goods stocks edged higher in the opening trade. The boarder Market indices are also trading flat.

Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal mining company to help supply of coal for its Rs 14,000-crore thermal power plant in Andhra Pradesh. The stock is now trading lower by (0.80 per cent) at Rs. 161.95.

Jindal Drilling & Industries has bagged an order worth Rs 635 crore from ONGC for hiring a drilling unit ''Noble Ed-holt'' for a five-year period. This rig is likely to get deployed in the month of December 2009. The stock is now trading higher by (4.22 per cent) at Rs. 544.

At 10.30 IST, the BSE Sensex is trading lower by 28.13 points or (0.17 per cent) at 16,757.72. and the NSE Nifty is trading lower by 11.10 points or (0.22 per cent) at 4,977.90.

The BSE Mid Cap is trading marginally higher by 4.06 points or (0.06 per cent) at 6,400.65 and the BSE Small Cap is trading fractionally higher by 6.87 points or (0.09 per cent) to 7,501.66.

Hero Honda reported the top gainer from the BSE Sensex pack, as it is trading up by (1.05 per cent) at Rs.1,658.25 while DLF reported the top loser trading down by (1.98 per cent) at Rs.359.10.

The Overall market breadth is negative as 746 stocks are advancing while 929 stocks are declining and the 62 stocks remained unchanged on BSE.

The Asian markets are trading mixed today as the Hang Seng, Shanghai Composite and Nikkei 225 inde... » Send to friends

9:52 AM - Friday the US stock market continued to end lower for the second day on the back of strength in dollar that weighed heavily over the energy and the material stock, even though the materials managed to regain its momentum in the late trade. However the Health care performed relatively well, with the sector finished 0.5 per cent lower following news that Senator Reid presented last evening a health care reform bill from the Senate.

The Dow Jones Industrial Average (DJIA) ended with a loss of 93.87 points at 10,332.44. NASDAQ index fell 36.32 points to 2,156.82 and the S&P 500 (SPX) closed lower by 14.90 points at 1,094.90.

On the economic front, the initial jobless claims for the week ending November 14 hit 505,000, which is in-line with what had been expected. Meanwhile, continuing claims came in at 5.61 million, which is in step with what had been widely forecast.

In other economic data, leading economic indicators for October increased 0.3 per cent, as against the 0.4 per cent that was expected. The Philadelphia Fed Survey for November came in at 16.7, which is better than the reading of 12.2 that had been widely forecast.

However some disappointing news on the housing front as the third quarter mortgage delinquencies rose 9.6 per cent, which is up from the 9.2 per cent that was registered in the second quarter.

Meanwhile, the OECD said that U.S. GDP would likely grow 2.5 per cent in 2010, while its collective 30-member nations would expand 1.9 per cent.

US light crude oil futures for December delivery closed with a loss of 2.6 per cent at $77.50 per barrel, on the New York Mercantile Exchange.

Gold prices settled marginally higher at $1,141.90 per ounce on the New York Mercantile Exchange. » Send to friends

9:51 AM - The FIIs on Thursday stood as net buyers in equity and net sellers in debt. Gross equity purchased stood at Rs 2,586.00 Crore and gross debt purchased stood at Rs 275.10 Crore, while the gross equity sold stood at Rs 2,063.70 Crore and gross debt sold stood at Rs 430.00 Crore. Therefore, the net investment of equity and debt reported were Rs 522.40 Crore and Rs (154.90) Crore respectively. » Send to friends