The market moved between positive and negative zone in mid-morning trade. Yet, it moved in a narrow range. The market was volatile in early trade. Hindalco Industries and ICICI Bank were top gainers whereas Tata Motors and NTPC were top losers from the Sensex pack. Reliance Industres declined. IT, realty, banking stocks gained. Power stocks declined. BSE Mid-Cap and Small-Cap indices outperformed Sensex. Asian markets were mixed.

Concerns on the political front resurfaced after communist allies warned the government against going ahead with a civilian US nuclear deal. Communist parties, a key ally of the ruling Congress party-led coalition, fired a fresh salvo on Sunday, 9 December 2007, asking the government to stop talks on a controversial nuclear deal with a UN nuclear watchdog.

At 11:19 IST, the 30-share BSE Sensex was up 8.15 points or 0.03% to 19,970.46. Sensex had hit a high of 20,095.69 in early trade. At day's high, Sensex had gained 129.96 points. Sensex hit a low of 19,898.78 also in early trade. At day's low, Sensex had lost 67.22 points for the day.

The broader S&P; CNX Nifty was down 14.05 points or 0.24% at 5,960.25.

Market breadth was strong. On BSE, 1941 stocks advanced, 723 stocks declined and 43 stocks remained unchanged.

The BSE Mid-Cap index rose 0.91% to 9,103.94 and BSE Small-Cap index gained 1.43% to 11,504.52. Both these indices outperformed Sensex.

Indias largest private sector firm by market capitalization & oil refiner Reliance Industries declined 0.76% to Rs 2,820. As per reports, has intensified restructuring of its retail venture Reliance Retail to create up to 30 independent business activities, each targeted to be a profit centre. Speculation is rife of a mega initial public offer in 2008 of Reliance Retail.

IT pivotals rose. Infosys (up 0.92% to Rs 1,734), Satyam Computer Services (up 0.77% to Rs 447.70) and Wipro (up 0.28% to Rs 503.95) edged higher. Tata Consultancy Services (down 0.21% to Rs 1,059) edged lower

Realty majors gained. Indias largest real estate developer in market capitalisaion DLF rose 0.26% to Rs 1,014. However, Unitech declined 1.27% to Rs 423.50.

Indiabulls Real Estate rose 3.48% to Rs 711.50. The company said before trading hours today, 10 December 2007, its wholly owned subsidiary, Indiabulls Wholesale Services (IWSL), is proposing to make an open offer for Piramyd Retail, a retail company.

Banking majors inched up. ICICI Bank (up 1% to Rs 1,260), State Bank of India (up 0.26% to Rs 2,443) edged higher. However HDFC Bank declined 0.53% to Rs 1,712.60.]

Power stocks declined. NTPC (down 1.49% to Rs 242.40), Reliance Energy (down 0.68% to Rs 1,918.10), Tata Power Company (down 1.51% to Rs 1,303.75) edged lower.

Bharti Airtel rose 1.9% to Rs 977.90 and was the top gainer from Sensex pack. Bharti Airtel announced before the market hours today 10 December 2007 that, Bharti Infratel, Idea Cellular and Vodafone Essar have agreed to form an independent tower company, Indus Towers to provide passive infrastructure services in India to all operators on a non-discriminatory basis. Idea Cellular rose 3.64% to Rs 137.90.

Hindalco Industries (up 1.67% to Rs 191.30) and Larsen & Toubro (up 1% to Rs 4,303.95) edged higher.

ONGC (down 1.02% to Rs 1,178), Tata Motors (down 1.61% to Rs 758.70), Hindustan Unilever (down 1.13% to Rs 206) and Bharat Heavy Electricals (down 0.95% to Rs 2,717) edged lower.

Voltas rose 2.79% to Rs 243.10.

Asian markets were mixed today, 10 December 2007. Hang Seng (up 0.33% to 28,937.75) and Shanghai Composite index (up 1.16% to 5,151.04) edged higher. Taiwan Weighted index (down 1.26% to 8,612.64), Nikkei (down 0.43% to 15,886.96), Straits Times index (down 0.06% to 3,555.80) and Seoul Composite index (down 1.42% to 1,907.12) edged lower.

US stocks ended on a mixed note on Friday, 7 December 2007 in spite of better than expected employment data. November non-farm payrolls increased and unemployment rates remained steady. While the numbers helped to ease recession concerns, they also reduced probability of the US Federal Reserve cutting the Fed funds rate by a steep 50 basis points at its 11 December 2007 meeting.

The Dow Jones industrial average rose 5.69 points, or 0.04%, to 13,625.58. The Standard & Poor's 500 index declined 2.68 points, or 0.18%, to 1,504.66. The Nasdaq Composite index slipped 2.87 points, or 0.11%, to 2,706.16.

The 30-share BSE Sensex rose 170.13 points or 0.86% to 19,966 on Friday, 7 December 2007.

Sensex surged 602.81 points or 3.11% to 19,966 in the week ended 7 December 2007. The S&P; CNX Nifty gained 211.55 points or 3.67% to 5,974.30 in the week.

As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 253.84 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 339.64 crore on Friday,7 December 2007.

Crude oil fell for a second day today, 10 November 2007, in New York on speculation slowing US economic growth may limit demand as fuel stockpiles rise. Crude oil for January 2008 delivery declined as much as 53 cents to $87.75 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Brent crude oil for January settlement declined 24 cents, or 0.3%, to $88.40 a barrel.

Powered byCapital Market - Live News