Market opened on a positive note to hit fresh all-time high above 20,000. It soon plunged into the red ahead of Reserve Bank of Indias annual monetary policy review due at 12:00 IST today. Capital goods stocks extended gains. Bharat Heavy Electricals, Larsen & Toubro, HDFC hit all time highs in early trade. Reliance Industries declined. Market breadth was negative. Most of the Asian markets were trading lower.

At 10:21 IST, BSE Sensex was down 64 points or 0.35% to 19,907.15 It opened on a strong note with an upward gap of 125.77 points at 20,103.44 and soon rose to strike an all-time high of 20,238.16 in early trade. At day's high of 20,238.16, Sensex had gained 260.49 points.

The broader based S&P; CNX Nifty was down 28.7 points, or 0.49%, to 5,877.20.

Market men expect RBI to keep interest rates steady at its policy review today. Though headline inflation remains low, inflationary expectations have not reduced due to prices of some primary articles spurting recently and retail fuel prices held down artificially by the government due to administered prices even as crude prices have been rising. The central bank may resort to hike in banks cash reserve ratio to suck out excess liquidity from the banking systems.

The market breadth was negative BSE: 1,014 scrips advanced as compared to 1,156 that declined while 692 remained unchanged. 8 of the 30 members of the Sensex pack were trading with gains.

The BSE Mid Cap index was down 0.14% to 8,071.31. BSE Small Cap index was up 0.06% to Rs 9,711.36.

India's largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) declined 1.9% to Rs 2,773.80.

Capital goods stocks extended gains today. Bharat Heavy Electricals (BHEL) rose 4.71% to Rs 2,735 and was the top gainer from Sensex pack. It hit an all time high of Rs 2,750 today. Net profit of Bharat Heavy Electricals (BHEL) rose 91.01% to Rs 687.66 crore on 18.68% rise in total income to Rs 3965.36 crore in Q2 September 2007 over Q2 September 2006.The company announced the results after the market hours on 29 October 2007.

Larsen & Toubro rose 2.82% to Rs 4,398. It hit an all time high of Rs 4,470 today. Suzlon Energy however declined 0.2% to Rs 1,993.90.

Reliance Energy (up 3.2% to Rs 1,777), HDFC Bank (up 1.9% to Rs 1,669.90) and Bajaj Auto (up 1.44% to Rs 2,538) edged higher.

Mahindra & Mahindra (down 3.94% to Rs 765), Maruti Suzuki India (down 1.97% to Rs 1,165), Hindustan Unilever (down 1.57% to Rs 216.30), Wipro (down 1.22% to Rs 503.45) edged lower.

Housing Development Finance Corporation rose 0.25% to Rs 2,820.It hit an all time high of Rs 2,965 today. Net profit of Housing Development Finance Corporation rose 75.64% to Rs 646.39 crore on 30.54% rise in total income to Rs 1888.60 crore in Q2 September 2007 over Q2 September 2006. The company announced the results after the market hours on 29 October 2007

Asian markets were trading slightly lower today, 30 October 2007. Japan's Nikkei (down 1.11% at 16,512), Taiwan Weighted (down 0.52% at 9,758.84 ), Singapore's Straits Times (down 0.71% at 3,792), South Korea's Seoul Composite (down 0.81% at 2,045) edged lower. However, Hong Kong's Hang Seng rose 0.14% at 31,632.

US Markets advanced yesterday, 29 October 2007, on positive earnings reports and the anticipation of an interest rate cut. The Dow Jones industrial average gained 64 points to 13870.26, the S&P; 500 index rose 6 points to 1540.98 and the Nasdaq Composite index firmed 13 points to 2817.

As per provisional data, FIIs purchased shares worth a net Rs 688.93 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 634.44 crore on Monday, 29 October 2007.

Crude oil prices fell nearly 1% below $93 a barrel on Tuesday, 30 October 2007, fading from their latest record high as investors took profits from a rally fuelled by a Mexican supply outage and the spiraling dollar. US crude fell by 85 cents to $92.68 a barrel after hitting a record high of $93.80 yesterday, 29 October 2007. London Brent slipped 77 cents to $89.65.

The BSE Sensex ended with a 734.50-point or 3.82% spurt to 19,977.67, on Monday, 29 October 2007. It hit an all time high of 20,024.87 in late trade. The broader based S&P; CNX Nifty ended up 203.6 points, or 3.57%, to 5,905.90. It hit an all-time high of 5,922.50 in late trade on Monday, 29 October 2007.

Q2 September 2007 results announced so far have been decent to strong.

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