The market saw trend reversal from initial firmness to weak closing. The sentiment turned nervous ahead of a key meeting of the government with left parties on the Indo-US nuclear deal. It opened on an upbeat note tracking steady global markets. Some bouts of volatility was witnessed in second half of the days trading.

The BSE 30-share Sensex declined 57.67 points, or 0.37%, to 15,639.16, as per provisional closing. It opened higher at 15,668.40 and advanced further to hit a high of 15,698.98. The index touched a low of 15,506.10. At the day's low of 15,506.10, the Sensex had lost 90.73 points for the day

The S&P; CNX Nifty was down 10.15 points, or 0.23%, to 4,497.70 as per provisional closing

The market breadth was positive on BSE, with 1,410 shares advancing as compared to 1,356 that declined, while 65 remained unchanged. The breadth was much stronger in morning trade when 1231 shares had risen, 241 had declined and 30 were unchanged.

The total turnover on BSE amounted to Rs 4935 crore as compared to Rs 3845 crore by 14:30 IST

From 30-member Sensex pack, 20 declined while the rest gained.

IT pivotals were the worst hit on concerns of US economy heading towards recession. Indias third largest software services exporter Wipro was the top loser from the Sensex pack. It slipped 2.44% to Rs 455.550 on 1.86 lakh shares.

Other IT pivotals Satyam Computers (down 2.32% to Rs 432), Infosys Technologies (down 2.33% to Rs 1828), and TCS (down 2% to Rs 1026) also declined. IT companies derive over 50% of their revenue from exports from the US markets

The Indian rupee was trading slightly firm at 40.60 against the US dollar. It had settled at 40.65/66 yesterday, 10 September 2007.

The BSE IT index lost 4.2% to 4,570.89 to 10 September 2007 from its close of 4,774.13 on 10 August 2007.

Auto stocks declined on profit booking. Tata Motors (down 1.54% to Rs 691.85), Maruti Udyog (down 1.96% to Rs 859.10), and Mahindra & Mahindra (down 0.73% to Rs 696.10) dipped.

NTPC, the nation's top power generation company in terms of revenue, advanced 2.30% to Rs 195.50 on 17.20 lakh shares. It also struck an all time high of Rs 197.50 in intra-day trade. It was the top gainer from the Sensex pack. As per reports, the power ministry has sought waiver of new external commercial borrowings (ECB) norms for the power sector to allow it to use funds raised abroad for rupee expenditure.

Indias largest dedicated mortgage finance firm by revenue Housing Development Corporation (HDFC) advanced 1.98% to Rs 2145.10. HDFC struck an all-time high of Rs 2153 in intra-day trade.

Worlds sixth largest steel producer in terms of total steel production Tata Steel gained 2.16% to Rs 708 on reports that it is looking at building a 5-million tonne steel plant in South Africa.

Indias largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) slipped from an all-time high of Rs 2007 in early trade. It declined 0.34% to Rs 1980.40 on 6 lakh shares.

As per reports, RIL has warned that fresh bidding for the price of natural gas produced from the Krishna Godavaris-D6 fields could lead to market distortion and cartelisation. RIL claims that the bidding process followed by RIL (that discovered the gas price of $4.33 per million British thermal unit) was a transparent and legally-complete process in line with the provisions of the production sharing contract with the government.

Among side counters, Gulf Oil Corporation (up 17.28% to Rs 1275), Neyveli Lignite Corporation (up 10.09% to Rs 93.25), CCL Products (up 11.74% to Rs 264.05), Birla Kennametal (up 10% to Rs 299.95), and Zenith Birla (up 20% to Rs 42.40) surged.

SEL Manufacturing (down 5.60% to Rs 135.70), JRG Securities (down 6.64% to Rs 53), Bombay Burmah Trading Corporation (down 5.77% to Rs 525), Manugraph Industries (down 4.68% to Rs 123.25), and Emkay Shares & Stock Brokers (down 8.04% to Rs 142.40) slipped.

European markets, which opened after the Indian markets, were trading firm. Key benchmark indices in London (up 1.37% to 6,217.90), Germany (up 1.15% to 7,460.52) and France (up 1.31% to 5,457.03) edged higher.

Asian markets were trading mixed today, 11 September 2007. Japan's Nikkei (up 0.71% at 15,877.67), Taiwan's Taiwan Weighted (up 0.73% at 9,003.12) and Singapore's Straits Times (up 1.53% points at 3,494.57) gained.

However, Shanghai Composite (down 4.51% to 5,113.96) and Hang Seng (down 0.20% at 23,9522.24), slipped.

US shares finished a volatile session with small gains yesterday, 10 September 2007 as investors grappled with the possibility that the Federal Reserve might not lower interest rates as much as they hope. The Dow Jones industrial average rose 14.47 points, or 0.11%, to 13,127.85. Broader stock indexes fell. The Standard & Poor's 500 index slipped 1.85 points, or 0.13%, to 1,451.70, and the Nasdaq Composite index declined 6.59 points, or 0.26%, to 2,559.11.

Crude oil prices surged to near a record high on Tuesday, 11 September 2007, after attacks on oil and natural gas pipelines rocked the world's fifth largest crude producer Mexico, ahead of an OPEC meeting to determine production policy. US light crude rose 40 cents to $77.89 a barrel and is now near its record high of $78.77 hit on 1 August 2007. London Brent crude rose 36 cents to $75.84.

As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 190.15 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 9.82 crore on Monday, 10 September 2007.

The BSE 30-share Sensex rose 6.41 points, or 0.04%, to 15,596.83, on Monday, 10 September 2007. The S&P; CNX Nifty declined 1.65 points, or 0.04%, to 4,507.85, on Monday, 10 September 2007.

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