The market provisionally ended in green in a choppy trading session. Volatility stemmed ahead of US Federal Reserve meeting later in the day on interest rates. Up about 170 points at one point of time in early afternoon trade, Sensex suddenly slipped into the red in mid-afternoon trade before recovering from lower level instantly. Though the market breadth was even, it weakened from a strong breadth earlier during the day.

Hindustan Unilver plunged after announcement of Q3 September 2007 results. Capital goods stocks lost ground. IT stocks drifted lower. Metal stocks edged higher. Asian and European markets were mixed.

The 30-share BSE Sensex was provisionally ended with a gain of 61.34 points, or 0.31%, to 19,844.85. It had opened marginally higher at 19,827.40 and slipped to a low of 19,735.21 shortly. It rebounded from that low. Sensex hit a high of 19,984.13. At day's high of 19,984.13, Sensex had risen 200.62 points.

The broader based S&P; CNX Nifty was up 39.65 points, or 0.68%, to 5,908.40.

The market breadth was almost even on BSE: 1,372 scrips advanced as compared to 1,343 that declined while 361 remained unchanged. 17 of the 30 members of the Sensex pack were trading with gains.

The BSE Mid Cap index rose 1.08% to 8,134.92 and BSE Small cap index rose 1.56% to 9,794.98. Both these indices outperformed Sensex.

Reliance Communications (RCom) rose 0.44% to Rs 770.50. RCom's net profit rose 73.53% to Rs 801.24 crore on 17.27% rise in total income to Rs 3,329.21 crore in Q2 September 2007 over Q2 September 2006. The company announced the results during the market hours today.

Shares of India's largest aluminium producer Hindalco Industries surged 1.45% to Rs 196 after it reported 7.56% rise in net profit to Rs 642.80 crore on 6.83% growth in total income to Rs 5069.50 crore in Q2 September 2007 over Q2 September 2006. The company announced the results during the market hours today.

Hindustan Unilever (HUL) declined 5.23% to Rs 207.55 and was the top loser from Sensex pack. The company's net profit declined 21.63% to Rs 408.06 crore on 9.72% rise in total income to Rs 3,470.49 crore in Q3 September 2007 over Q3 September 2006. The company said the results are not comparable to the extent of amalgamation of Modern Foods (India) and its subsidiary with the company. HUL announced the results during the market hours today.

Tata Motors rose 2.82% to Rs 790. Tata Motor's net profit rose 19.27% to Rs 526.84 crore on 1.09% rise in total income to Rs 6,743.31 crore in Q2 September 2007 over Q2 September 2006. The company announced the results during the market hours today.

Capital goods stocks declined after yesterdays surge on profit booking. Bharat Heavy Electricals (down 1.3% to Rs 2,620), Larsen & Toubro (down 1.97% to Rs 4,240.20) and Suzlon Energy (down 0.38% to Rs 1,973) edged lower.

IT stocks declined as the Indian rupee inched towards a 9- year high on expectations foreigners will keep buying local shares and in anticipation of a US rate cut later in the day. Infosys (down 0.82% to Rs 1,836.10), Satyam Computer services (down 0.49% to Rs 477.10) and Wipro (down 0.98% to Rs 504.70) edged lower.

India's largest software services exporter Tata Consultancy Services (TCS) slipped 1% to Rs 1,037 on high volumes of 16.35 lakh shares, after three block deals were executed in early trade on BSE at discount to the then ruling market price. Two block deals of 3.01 lakh shares were executed at average price of Rs 1021 per share on BSE by 10:11 IST. A third deal of 3.60 lakh shares was struck at Rs 1023 per share at 10:12 IST.

Metal stocks climbed. Tata Steel (up 0.66% to Rs 904.50),Sterlite industries (up 0.44% to Rs 1,023) and Hindalco Industries (up 1.45% to Rs 196) edged higher.

India's second largest power utility by revenue Reliance Energy jumped 4.46% to Rs 1,869 and was the top gainer from Sensex pack. Its board yesterday, 30 October 2007, approved a proposal to transfer its infrastructure projects to a separate wholly owned subsidiary.

India's largest drug maker by sales Ranbaxy laboratories (up 3.01% to Rs 427.35) edged higher. Ranbaxy Laboratories after market hours yesterday, 30 October 2007, said it has secured a favourable verdict in its patent case against (Pfizer) Warner-Lambert's European Patent 409 281 (281), invalidating all relevant claims of this patent. The drug has annual sales of $137 million, Ranbaxy said in a filing with the Bombay Stock Exchange (BSE).

Indias biggest oil exploration firm by market capitalisation Oil and Natural Gas Corporation rose 2.21% to Rs 1,246.45 after it reported good Q2 results. ONGC's net profit rose 22.10% to Rs 5097.48 crore on 9.60% rise in net sales to Rs 15413.92 crore in Q2 September 2007 over Q2 September 2006. The results were announced after market hours on Tuesday, 30 October 2007.

Indias top listed cellular services provider by market capitalisation Bharti Airtel moved up 1.33% to Rs 1,013 after it reported a surge in net profit in Q2 September 2007 over Q2 September 2006. Bharti Aritel reported 82% rise in net profit to Rs 1619.15 crore on 44.94% rise in sales to Rs 6059.89 crore in Q2 September 2007 over Q2 September 2006. The results were announced during market hours today, 31 October 2007.

Indias largest private sector entity in terms of market capitalisation and oil refiner Reliance Industries was up 0.45% to Rs 2782.90.

HDFC Bank (up 2.39% to Rs 1,657) and NTPC (up 2.27% to Rs 239.25) edged higher.

Cipla declined 1.27% to Rs 178.80.

Side counters, Apcotex Industries (up 20% to Rs 47.70), Jindal Steel & Power (up 24% to 11,780), Fenoplast (up 20% to Rs 30.60, Atlas copco India (up 20% to Rs 1,184.30), Bombay Rayon Fashions (up 25.47% to Rs 284), soared.

Tulip Star Hotels (down 9.97% to Rs 103.35), Empee Sugars (down 9.92% to Rs 11.89) edged lower.

US Federal Reserve holds a policy meeting later in the day to consider interest rates. Analysts speculate that Fed would cut rates by 25 basis points.

The Reserve Bank of India (RBI) in its mid-term review of the annual monetary policy yesterday, 30 October 2007, hiked cash reserve ratio (CRR) by a steep 50 basis points to 7.5%. CRR is the proportion of cash that the banks have to keep with RBI. The central bank left the reverse repo rate, the rate at which it absorbs excess cash from banks, unchanged at 6%. The bank rate, too, was unchanged at 6%%. The CRR hike which come into effect from 10 November 2007, will suck out Rs 16,000 crore from the banking system.

The bad news for the industry and the consumer is contrary to some expectations, interest rates are unlikely to soften in the near term.

European markets recovered and were mixed. Frances CAC 40 (up 0.07% to 5,807.72) and UKs FTSE 100 (up 0.05% to 6,661.90) edged higher. Germanys DAX (down 0.02% to 7,975.78) edged lower.

Asian markets were mixed today, 31 October 2007. Hang Seng (down 0.9% at 31,352.58) and Taiwan's Taiwan Weighted (down 0.48% at 9,711.37) edged lower. South Korea's Seoul Composite (up 0.61% at 2,064.85),Singapore's Straits Times (up 0,.19% at 3,805.70) and Japan's Nikkei (up 0.52% at 16,737.63), edged higher.

US stocks ended lower yesterday, 30 October 2007, as investors turned cautious ahead of the Fed meet. The Dow Jones Industrial Average slipped 77.63 points or 0.56% to 13,792.63. The tech-laden Nasdaq Composite declined marginally by 0.73 points or 0.03% to 2816.71, while the broad-market Standard & Poor's 500 shed 9.96 points or 0.65% to 1531.02.

As per provisional data, FIIs sold shares worth a net Rs 389.12 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 177.24 crore on Tuesday, 30 October 2007.

Crude oil fell below $90 in Asian trade today, 31 October 2007 as investors took profit on expectations of an increase in US crude stocks. New York's main contract, light sweet crude for December delivery, was 56 cents lower at $89.82 a barrel. B