The market lost ground in late trade as index heavyweight Reliance Industries dropped and ITC slipped. The market was in the green for a better part of the day though it had pared gains after an initial surge. Banking majors plunged. IT pivotals pared gains. Consumer durable, auto, realty moved higher. BSE Mid-Cap and Small-Cap indices outperformed Sensex. The market breadth was strong. 2 out of 3 key European markets were in the red. Key Asian markets ended in the red.

The 30-share BSE Sensex provisionally ended down 101.88 points or 0.52% at 19,596.01. At days high of 19,971.44, the Sensex had gained 273.08 points. It had hit a low of 19,583.97 in late trade. At the day's low, Sensex lost 114.39 points.

The broader CNX S&P; Nifty was up 10.15 points or 0.17% at 5,896.70.

The market breadth was strong. On BSE, 2,139 stocks advanced, 638 stocks declined and 27 stocks were unchanged. 16 out of 30 stocks from the Sensex pack were in green.

BSE clocked a turnover of Rs 8081 crore compared to Friday (16 November 2007)'s Rs 8,885.97 crore.

The BSE Mid-Cap index rose 2.59% to 8,733.01 and the BSE Small-Cap index rose 2.82% to 10,673.88. Both these indices outperformed Sensex.

Banking majors declined. HDFC Bank (down 1.91% to Rs 1,655), ICICI Bank (down 2.42% to Rs 1,190), and State Bank of India (down 0.93% to Rs 2,304) edged lower.

Index heavyweight and Indias largest private sector firm by market capitalisation Reliance Industries declined 1.2% to Rs 2,841.15.

IT stocks declined. Satyam Computer Services (down 1.52% to Rs 422.05), Infosys (down 0.15% to Rs 1,621), Wipro (down 0.07% to Rs 458) edged lower.Tata Consultancy Services rose 0.49% to Rs 987.

Consumer durables stocks surged and BSE Consumer Durable index was the major gainer from BSE's sectoral indices. Videocon Industries (up 9.41% to Rs 439.95), and Rajesh Exports (up 0.03% to Rs 855.25) edged higher.

Gitanjali Gems rose 1.79% to Rs 382 after it acquired US jewellery retail chain Rogers for an undisclosed sum, a move that will boost the companys retail presence in India and abroad.

Larsen & Toubro (L&T;) rose 0.06% to Rs 4,378.50. The company announced during market hours today it in association with Shanghai Urban Construction (Group) Corporation has secured a design & build contract valued at Rs 275 crore from Delhi Metro Railway Corporation (DMRC).

Auto stocks were in demand. Tata Motors (up 0.55% to Rs 702), Mahindra & Mahindra (up 1.92% to Rs 747), Hero Honda Motors (up 2.53% to Rs 712), and Maruti Suzuki India (up 0.39% to Rs 1,053.50) edged higher.

Bajaj Auto rose 3.39% to Rs 2,428. UBS raised its 12-month price target on the stock to Rs 3,033 from Rs 2,440, saying the company was on a recovery path with its two-wheeler business improving and competition seen easing.

Tata Steel (up 2.23% to Rs 862), Cipla (up 3.18% to Rs 186.40) and ACC (up 3.88% to Rs 1,080) edged higher.

ITC (down 3.49% to Rs 198.20) edged lower.

Realty stocks gained. India's largest real estate firm by market capitalisation DLF rose 0.91% to Rs 945.10. It replaced Dr. Reddys Laboratories in Sensex today. Indiabulls Real Estate rose 3.15% to Rs 657.90.

Unitech rose 2.12% to Rs 398. As per reports Unitech plans a non-banking financial corporation (NBFC) to sell home loans.

Nirma rose 24.71% to Rs 206.90 and was the top gainer from A group. Essel Propack (up 17.31% to Rs 62), Vijaya Bank (up 13.5% to Rs 83.65), Jaiprakash Associate (up 13.25% to Rs 1,722) and Apollo Tyres (up 15.26% to Rs 42.30) were other major gainers from A group.

Side counters, Maestros Mediline Systems (up 20% to Rs 42.30), Tokyo Plast International (up 20% to Rs 13.32) edged higher.

Federal Bank (down 22.44% to Rs 368), Alufluoride (down 9.87% to Rs 31.95) and Manali Petrochemicals (down 10% to Rs 21.21) edged lower.

Most of the European markets were in red. Frances CAC 40 (up 0.17% to 5,540.99), Germanys DAX (down 0.04% to Rs 7,609.32). UKs FTSE 100 (down 0.32% to 6,271) edged lower.

Key Asian markets were in red. Hong Kong's Hang Seng (down 0.56% at 27,460.17), Japan's Nikkei (down 0.74% at 15,042.76), Singapore's Straits Times (down 0.85% at 3,411.72), South Korea's Seoul Composite (down 1.7% to 1,893.47) and Taiwan Weighted (down 0.96% at 8,680.71) edged lower.

US markets closed higher on Friday, 16 November 2007 as investors ignored some credit concerns and the health of the overall economy. The Dow Jones industrial average rose 66.74, or 0.51%, to 13,176.79. Broader stock indicators also posted gains. The S&P; 500 index rose 7.59, or 0.52%, to 1,458.74. The Nasdaq Composite index gained 18.73, or 0.72%, to 2,637.24.

Crude oil prices advanced on Monday, 19 November 2007 as the dollar fell and some Organization of the Petroleum Exporting Countries (OPEC) members pushed for action to stem their declining purchasing power. US light crude for January delivery rose 71 cents to $94.55 a barrel. London Brent crude rose 67 cents to $92.29 a barrel.

Volatility forced investors across the world to pull out five billion dollars from emerging market equity funds in the second week of November 2007, including over two billion dollars from funds focused on four BRIC markets viz. Brazil, Russia, India and China.

China accounted for more than half of the total outflow from BRIC funds, while India, Russia and Brazil together shared the remainder, according to international fund tracking firm EPFR Global.

During the second week of November this year, emerging market equity funds reported a net outflow of $5.58 billion, while those focused on developed markets saw an outflow of $5.07 billion. According to EPFR, the money market funds recorded a net inflow of $10.1 billion in the week, taking their total inflow since the beginning of August 2007 to $100 billion.

As per provisional data, FIIs sold shares worth a net Rs 363.14 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 239.72 crore on Friday, 16 November 2007.

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