The market may head higher, in volatile trade following a solid intra-day recovery yesterday, 12 December 2007. The 30-share BSE Sensex rose 84.98 points or 0.42% to 20,375.87 after loosing 245.47 points in early trade yesterday. The broader S&P; CNX Nifty rose 62.05 points or 1.02% at 6,159.30. Both the indices settled at record highs

Asian markets were trading lower today, 13 December 2007. Japan's Nikkei (down 1.18% at 15,744.12), Hong Kong's Hang Seng (down 0.57% at 28,357.08), Taiwan's Taiwan Weighted (down 0.89% at 8,415.31), Straits Times (down 0.25% at 3,540.47) edged lower. However, South Korea's Seoul Composite was up 0.19% at 1,931.09.

US markets started the day sharply higher yesterday, 12 December 2007 fueled by news of Fed's plans to boost liquidity but eventually lost steam as negative developments out of the financial sector weighed on the broader market. The Dow Jones industrial average gained 41.13 points, or 0.31%, to 13,473.90. The Standard & Poor's 500 index rose 8.94 points, or 0.61%, to 1,486.59. The Nasdaq Composite index advanced 18.79 points, or 0.71%, to 2,671.14.

Back home, the Index of Industrial Production (IIP) jumped 11.8% in October 2007 from 4.5% in October 2006. IIP stood at 9.7% in April-October 2007 compared with 10.1% in April-October 2006. Industrial output data for September 2007 was revised upwards to 6.8% from 6.4%. The government released the IIP data early afternoon yesterday, 12 December 2007.

As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 385.20 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 115.83 crore on Wednesday, 12 December 2007.

FIIs were net sellers to the tune of Rs 322.46 crore in the futures & options segment on Wednesday, 12 December 2007. They were net buyers of index futures to the tune of Rs 202.25 crore and bought index options worth Rs 91.29 crore. They were net sellers of stock futures to the tune of Rs 617.53 crore and bought stock options worth Rs 1.51 crore.

Oil prices eased below $94 a barrel on Thursday, 13 December 2007 taking a breather on a drawdown in U.S. crude stocks and a move by major central banks to ease tight credit conditions. U.S. light, sweet crude futures fell 44 cents to $93.95 a barrel. London Brent crude fell 52 cents to $93.50 a barrel.

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