The market firmed up furhter in mid-afternoon trade. IT pivotals TCS, Wipro and Satyam Computer were in demand. Auto stocks edged higher. Reliance Energy spurted. Reliance Industries extended gains. Market breadth was strong on BSE. 24 out of 30 stocks from the BSE 30-share Sensex pack advanced.

European markets, which opened after Indian markets, were trading firm in early trade. Asian markets which opened before Indian market, were mixed.

At 14:20 IST, the 30-share BSE Sensex was up 250.13 points or 1.29% to 19,613.32. The Sensex hit a high of 19,619.32 in mid-afternoon trade trade. At day's high, the Sensex gained 256.13 points.

The broader based S&P; CNX Nifty was up 112.55 points or 1.95% to 5875.30.

The BSE Mid-Cap index was up 2.45% to 8,763.02. The BSE Small-Cap index was up 2.62% to 10,801.77.

Market breadth was strong on BSE on the back of strong demand for small-cap and mid-cap shares. 2113 stocks advanced, 646 stocks declined and 55 stocks remained unchanged on BSE.

Indias largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 2.60% to Rs 2928.90, off days low of Rs 2850.

Indias largest private sector bank by assets ICICI Bank fell 1.24% to Rs 1170, off days high of Rs 1183.25.

The BSE Auto index was up 2.20% to 5,589.98. Ashok Leyland jumped 6.255 to Rs 47.60, Mahindra & Mahindra gained 3.44% to Rs 757, MRF rose 3.57% to Rs 7321, Maruti Suzuki gained 2.44% to Rs 1037.10 and Tata Motors rose 1.30% to Rs 742.90.

Indias second largest two wheeler maker by sales Bajaj Auto rose 2.91% to Rs 2788, off days low of Rs 2664.

The BSE IT index was up 1.74% to 4,270.82. Wipro jumped 6.78% to Rs 491.50, TCS gained 4.27% to Rs 1057.25, Patni Computers rose 4.41% to Rs 327 and Satyam Computers rose 1.69% to Rs 447.40.

Indias second largest software exporter by sales Infosys Technologies fell 0.12% at Rs 1602.10.

The BSE PSU index was up 2.36% to 9,644.87. Punjab National Bank spurted 5.33% to Rs 633.90, Mangalore Refineries & Petrochemicals (MRPL) jumped 4.48% to Rs 125.85, Indian Bank soared 7.03% to Rs 204, Dredging Corporation of India gained 2.57% to Rs 1037.80 and Bongaigaon Refinery & Petrochemicals rose 4.39% to Rs 99.80.

The BSE Power index was up 3.74% to 4,506.70. Neyveli Lignite soared 5.20% to Rs 247.45, GVK Power & Infrastructure gained 4.07% to Rs 792, Torrent Power rose 3.28% to Rs 176.20 and NTPC gained 1.84% to Rs 240.80.

Power producer and distributor Tata Power soared 8.08% to Rs 1267. The company is reportedly eyeing a bid for Singapore electricity companies Tuas Power, PowerSeraya and Senoko. The report suggests that Singapore's state investor Temasek Holdings is selling its interests in the three firms and Tata was evaluating the opportunity.

Anil Dhirubhai Ambani Group (ADAG) led Reliance Energy (REL) jumped 10.24% to 1916. As per reports, ADAG will invest Rs 8,000 crore in REL that would help the company to double its net worth and increase its borrowing limit. The infusion is proposed through a preferential offer of shares to Reliance-Anil Dhirubhai Ambani Group. The preferential offer will be made at Rs 1,812 per share. After the equity infusion, the promoters stake will increase to 43-45% from the current 35.89%.

European markets were trading firm. In Europe, key indices in UK, France and Germany were up between 0.02% to 0.10%.

Asian markets were trading mixed today, 3 December 2007. Key indices in Singapore and Hong Kong were up between 0.32% to 0.86%. Key indices in China, Japan, South Korea and Taiwan were down between 0.05% to 0.30%.

Crude oil hovered above $89 a barrel on Monday, 3 December 2007, after close to $10 fall last week. US crude for January delivery rose nearly $1 to above $89.50 a barrel, but was still well off a record high near $100 set on 21 November 2007.

US markets ended mixed on Friday, 30 November 2007 on the expectation that Fed will cut interest rates by 25 basis points in its meeting scheduled on 11 December 2007. The Dow Jones Industrial Average rose 59.99 points 0.45% to 13,371.72 and The S&P; advanced rose nearly 1% to 1,481. However the Nasdaq Composite slipped 0.3% to 2,661.

As per provisional data, Foreign Institutional Investors (FIIs) purchased shares worth a net Rs 1072.07 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 688.34 crore on Friday, 30 November 2007.

FIIs sold equities worth Rs 5,849.90 during the month of November 2007. On cumulative basis, FIIs were net buyers of equities to the tune of Rs 65,907.30 crore in calendar 2007 so far.

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