The market bounced back in late trade as banking and auto stocks jumped. State Bank of India surged. Reliance Industries came off lower level. Realty, capital goods, power stocks declined. The market breadth was weak. BSE Mid Cap and Small Cap indices underperformed Sensex. Asian markets were mixed. European markets were in red.

The Sensex provisionally ended 52.16 points or 0.28% higher at 18,654.78. Sensex hit a low of 18,182.83 in afternoon trade. At days low of 18,182.83, Sensex had lost 419.79 points. Sensex had surged to a high of 18,744.55 at the onset of the trading session. At days high of 18,744.55 Sensex gained 141.93 points.

The S&P; CNX Nifty provisionally ended 22.6 points or 0.41% higher at 5,583.65.

The market breadth was weak. On BSE, 819 stocks advanced, while 1,922 stocks declined and 34 stocks were unchanged. 22 out of 30 stocks from the Sensex pack were in green.

The BSE Mid-Cap index declined 0.9% to 8,143.88 and the BSE Small-Cap index down 1.51% to 10,110.53. Both these indices underperformed Sensex.

BSE clocked a turnover of Rs 6976 crore compared to Wednesday (21 November 2007)'s Rs 7,952.29 crore.

Index heavyweight and Indias largest private sector firm by market capitalisation Reliance Industries gained 1.07% to Rs 2,751, off session's low of Rs 2,666.80.

Banking stocks surged in late trade. State Bank of India (up 4.43% to Rs 2,250), ICICI Bank (up 3.33% to Rs 1,139.80), HDFC Bank (up 1.07% to Rs 1,600) edged higher.

Auto stocks also gained. Maruti Suzuki India (up 3.04% to Rs 980), Bajaj Auto (up 1.98% to Rs 2,470.10), Tata Motors (up 1.24% to Rs 695), Mahindra & Mahindra (up 0.69% to Rs 712) edged higher.

Realty stocks were major losers. Unitech (down 7.64% to Rs 331.90), DLF (down 5.49% to Rs 822.75), Indiabulls Real Estate (down 2.02% to Rs 602.85) edged lower.

Capital goods stocks declined. Larsen & Toubro (down 4.06% to Rs 3,941.90), Suzlon Energy (down 2.51% to Rs 1,857.20) edged lower.

India's biggest power equipment maker in terms of revenue Bharat Heavy Electricals declined 0.04% to Rs 2,485.10. It recovered from session low of Rs 2,380. It said today that it had received a contract worth Rs 2108 crore ($535 million) for steam generators and steam turbines in Jharkhand.

Power stocks declined. Tata Power Company (down 1.23% to Rs 1,145), Reliance Energy (down 5.18% to Rs 1,605.10), NTPC (down 4.99% to Rs 227.55) edged lower.

Indias second largest cement producer by sales ACC rose 2.21% to Rs 1,103.30.

India's largest oil exploration firm by sales ONGC declined 3.61% to Rs 1,149.55.

Ranbaxy Laboratories, India's largest drug maker by sales declined 0.4% to Rs 397. The company said on Wednesday, 21 November 2007, it had approval from Canadian authorities to manufacture and market tamsulosin hydrochloride capsules. Meanwhile, as per reports Ranbaxy Laboratories has reached an out-of-court settlement to market the generic copy of an innovator drug worth over $1 billion in the US.

European markets slipped in red after strong opening. Frances CAC 40 (down 0.06% to 5,377.89), Germanys DAX (down 0.07% to 7,512.99) and UKs FTSE 100 (down 0.09% to 6,065.20) edged lower.

China's Shanghai Composite index lost 4.41% at 4,984.16. Other Asian markets were mixed. Japan's Nikkei (up 0.34% at 14,888.78), and Taiwan Weighted (up 0.18% at 8,499.37) rose. However, South Korea's Seoul Composite (down 0.44% at 1,799.02) and Singapore's Straits Times (down 1.03% at 3,312.88), Hong Kong's Hang Seng (down 2.3% at 26,004.92) declined.

US stocks fell to the lowest in three-months on Wednesday, 21 November 2007 following growing unease over the economic outlook and weakening credit markets. The Dow Jones industrial Average ended the day with a loss of 211 points at 12,799. The Nasdaq Composite index slipped 34 points at 2,562. S&P; 500 lost 22.9 points at 1,416.

Crude oil traded near $97 a barrel in New York after falling from a record yesterday, 21 November 2007 amid signs of slowing demand growth in the US, the world's largest energy consumer. Crude oil for January delivery was at $97.44 a barrel, up 15 cents, in after-hours electronic trading on the New York Mercantile Exchange in Singapore.

As per provisional data, FIIs sold shares worth a net Rs 2007.70 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 630.06 crore on Wednesday, 21 November 2007.

FIIs were net sellers to the tune of Rs 2,187.19 crore in the futures & options segment on Wednesday, 21 November 2007. According to data released by the NSE, FIIs were net sellers of index futures to the tune of Rs 2,267.34 crore and bought index options worth Rs 113 crore. They were net sellers of stock futures to the tune of Rs 31.36 crore and sold stock options worth Rs 1.49 crore.

Powered byCapital Market - Live News