The market held firm in afternoon trade as a robust Q2 GDP growth data which was released by the government at about 11:00 IST today, boosted the market sentiment. Market breadth was strong. 27 out of 30 stocks from the Sensex pack were in green. Key Asian markets, except China, were in positive territory.

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 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 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.

At 13:20 IST, the 30-share BSE Sensex was up 341.25 points or 1.80% to 19,344.51. The Sensex hit a high of 19,378.23 in early afternoon trade. At days high, the Sensex gained 374.97 points.

The broader based S&P; CNX Nifty was up 119.65 points or 2.12% to 5754.25.

The BSE Mid-Cap index was up 1.85% to 8,517.05. The BSE Small-Cap index was up 1.14% to 10,507.68.

Market breadth was strong. 1755 stocks advanced, 934 stocks declined and 69 stocks remained unchanged on BSE.

Indias largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 1.33% to Rs 2856 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 1.63% to Rs 1181.10, off day's low of Rs 1192.

India's second largest software exporter by sales Infosys Technologies gained 2.61% to Rs 1610.50. 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.

DLF soared 5.35% to Rs 929.05, Reliance Energy jumped 3.74% to Rs 1726, Housing Development Finance Corporation rose 2.98% to Rs 2768, Hindalco Industries 3.21% to Rs 186.70 and TCS rose 2.77% to Rs 1003.85.

Hindustan Unilever fell 1.09% to Rs 207.90, Bajaj Auto fell 0.89% to Rs 2700, Ambuja Cements fell 0.53% to Rs 150.50, and Bharat Heavy Electricals fell 0.26% to Rs 2680.

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 0.50% 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.

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