The market opened with upward gap but soon pared gains in the early trade to slip into the red. It bounced back later. Bharti Airtel and Wipro were top gainers whereas ONGC and NTPC were top losers from the Sensex pack. Asian markets were mixed. US markets ended on a mixed note on Friday 7 December 2007.

At 10:25 IST, the 30-share BSE Sensex was up 47.61 points or 0.24% to 20,008.07. 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 4.30 points or 0.07% at 5,970.

Market breadth was strong. On BSE, 1759 stocks advanced, 695 stocks declined and 58 stocks remained unchanged.

Indias largest private sector firm by market capitalization & oil refiner Reliance Industries was flat at Rs 2,844.

Metal stocks declined. Sterlite Industries (down 1.17% to Rs 1,083), Steel authority of India (down 1.53% to Rs 270) and Jindal Steel (down 0.78% to Rs 14,999.95), Tata Steel (down 0.11% to Rs 832.50) edged lower. However, Hindalco Industries rose 0.19% to Rs 188.50.

IT pivotals were mixed. Infosys (down 1.06% to Rs 1,700), Tata Consultancy Services (down 0.4% to Rs 1,057) edged lower. However Satyam Computer Services (up 0.06% to Rs 444) and Wipro (up 0.49% to Rs 505) edged higher.

Power stocks also declined. NTPC (down 1.08% to Rs 243), Reliance Energy (down 1.12% to Rs 1,910.50), Tata Power Company (down 1.56% to Rs 1,303) 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.

DLF (up 0.74% to Rs 1,018.80) and Larsen & Toubro (up 0.68% to Rs 4,290.90) edged higher.

ONGC (down 1.55% to Rs 1,171.75) , Tata Motors (down 0.93% to Rs 763.90), and Bharat Heavy Electricals (down 0.88% to Rs 2,719) edged lower.

Asian markets were mixed today, 10 December 2007. Hang Seng (up 0.31% to 28,932.05) and Shanghai Composite index (up 1.16% to 5,151.04) edged higher. Taiwan Weighted index (down 0.68% to 8,662.75), Nikkei (down 0.29% to 15,910.51), Straits Times index (down 0.06% to 3,555.80) and Seoul Composite index (down 0.51% to 1,923.64) 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 Bank of England lowered its key interest rate on Thursday, 6 December 2007 citing signs of slowing growth. The Monetary Policy Committee, or MPC, voted to reduce the official bank rate paid on commercial bank reserves by 25 basis points to 5.5%. However, the European Central Bank Monetary Policy Committee decided to keep interest rates on hold at 4% after their monthly policy meeting on 6 December 2007.

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.

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