The market surged today led by rally in IT, banking, metal and realty stocks. Robust Q2 GDP growth data which was released by the government at about 11:00 IST today, boosted the market sentiment. Reliance Energy surged. The market breadth was strong. 26 out of 30 stocks from the Sensex pack were in green. European markets, which opened after Indian markets, were trading firm. Key Asian markets, except China, were in positive territory.

The gross domestic product (GDP) rose 8.9% in the second quarter ended 30 September 2007, which was below a robust 9.3% growth recorded in the first quarter ended June 2007.

The wholesale price index rose 3.21% in the 12 months to 17 November 2007, above the previous week's rise of 3.01%, government data released today, 30 November 2007, afternoon showed. The annual inflation rate was 5.56% during the corresponding week of the previous year.

The 30-share BSE Sensex ended up 344.39 points or 1.81% to 19347.65, as per provisional closing. The Sensex hit a high of 19,424.99 in late trade. At days high, the Sensex gained 421.73 points.

The broader based S&P; CNX Nifty was up 128.75 points or 2.28% to 5763.35, as per provisional closing.

The BSE Mid-Cap index ended up 2.33% to 8,557.49. The BSE Small-Cap index ended up 1.27% to 10,521.21.

Market breadth was strong. 1709 stocks advanced, 1036 stocks declined and 70 stocks remained unchanged on BSE.

BSE clocked a turnover of Rs 8416 crore compared to Thursday (29 November 2007)'s Rs 7677 crore.

Indias largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 1.23% to Rs 2853 on reports it plans to spend Rs 17000 crore on exploration in the next few years.

India's largest private sector bank by assets ICICI Bank rose 1.53% to Rs 1177, off day's low of Rs 1192.

India's second largest software exporter by sales Infosys Technologies gained 1.94% to Rs 1600. The company expects to maintain margins in coming quarters and the US subprime crisis had not hit IT spending by US clients, T. V. Mohandas Pai, Infosys' director for human resources said on Thursday, 29 November 2007. He further said Infosys has successfully coped with the appreciation of the rupee against the dollar.

The BSE IT index rose 2.87% to 4,203.10. TCS gained 3.81% to Rs 1013.95, Wipro rose 2.18% to Rs 460.30, Satyam Computers rose 3.37% to Rs 439.95 and HCL Technologies gained 2.19% to Rs 320.25.

DLF soared 6.57% to Rs 939.75, Reliance Energy jumped 1739, Housing Development Finance Corporation (HDFC) climbed up 3.95% to Rs 2794, Satyam Computer gained 3.62% to Rs 441 and TCS rose 3.20% to Rs 1008.

Ambuja Cements fell 1.19% to Rs 149.50, Hindustan Unilever declined 1.45% to Rs 207.15, Bajaj Auto fell 0.71% to Rs 2705 and Bharat Heavy Electricals fell 0.18% to Rs 2682.

The BSE Metal index jumped 4.97% to 17,710.88. Copper makers surged.after copper prices hit a two-week high on the London Metal Exchange on Thursday, 29 November 2007, on hopes that lower US interest rates would help boost economic growth as well as demand for industrial metals. Hindalco gained 2.05% to Rs 184.60 and Sterlite Industries jumped 12.72% to Rs 1036

The BSE Realty index moved up 3.66% to Rs 10,597.96, and the BSE Bankex rose 2.02% to 10,815.58.

In Europe, key indices in UK, France and Germany were up between 0.62% to 0.83%.

Asian stocks extended gains on Friday, 30 November 2007, after comments on Thursday, 29 November 2007, by Federal Reserve Chairman Ben Bernanke reinforced expectations that the US central bank was willing to lower interest rates again at the 11 December 2007 meeting. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were up by between 0.57% to 1.65%. But Chinas Shanghai Composite index was down 2.63%.

US stocks ended nearly flat on Thursday, 29 November 2007 and the dollar stayed off its record lows against the euro.

Nifty futures saw a healthy rollover of 76% to December 2007 series from November 2007 series when the November 2007 derivatives contracts expired on Thursday, 29 November 2007. The overall rollover in the futures & options segment was about 72% to 75%.

As per provisional data, FIIs sold shares worth a net Rs 1112.96 crore in the spot market on Thursday, 29 November 2007. Domestic institutions bought shares worth a net Rs 606.25 crore on that day.

Foreign institutional investors (FIIs) were net buyers to the tune of Rs 2,693.39 crore in the futures & options segment on Thursday, 29 November 2007. FIIs were net buyers of index futures to the tune of Rs 1,575.15 crore and bought index options worth Rs 717.42 crore. They were net buyers of stock futures to the tune of Rs 402.43 crore and sold stock options worth Rs 1.61 crore.

The market has been volatile over the past few days due to alternate bouts of buying and selling amid FII sales caused by redemption pressure in their home countries and fears of a US recession arising from US housing slump and credit crisis.

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