The market staged a sharp recovery in late trade led by buying demand for index pivotals, especially from banking and auto pack. Earlier today, it opened lower tracking weak global markets and declined further in mid-morning trade. Turnover was low.

European markets, which opened after Indian market were trading lower today. Asian markets, which opened before Indian market, settled lower today, 28 January 2008. US markets settled weak on Friday, 25 January 2008.

The BSE Sensex declined 230.99 points or 1.26% to 18,130.67, as per provisional closing. It opened with downward gap of 349.77 points at 18,011.89 and dipped further to touch a low of 17,443.29 in afternoon trade. At the day's low, the Sensex lost 918.37 points. Sensex hit a high of 18,213.21 in late trade. At the day's high, Sensex was down 148.45 points for the day.

The broader CNX S&P; Nifty was down 116.55 points or 2.17% to 5,266.80 as per provisional closing

Turnover was low. BSE clocked a turnover of Rs 3901 crore as compared to Rs 2652 crore by 14:30 IST.

Though the market breadth was negative, it improved from earlier in the day. On BSE 1844 shares declined as compared to 881 that advanced. 34 shares remained unchanged. In opening trade 1553 shares had declined as compared to 251 that advanced.

The BSE Mid-Cap index was down 0.26% to 8,000.10 while the BSE Small-Cap index was down 0.93% to 10,323.56 as per provisional closing

Among the BSE 30-share Sensex pack, 21 declined. In morning trade, all the 30-members of Sensex pack were down.

Auto stocks staged a sharp comeback from early losses on value buying. Indias second largest bike manufacturer in terms of sales Bajaj Auto advanced 6.22% to Rs 2405. It was the top gainer from Sensex pack. It swung in a wide range of Rs 2101 and Rs 2490 in the day.

Maruti Udyog (up 4.38% to Rs 866), Mahindra & Mahindra (up 2.79% to Rs 693), also posted gains.

Housing Development Finance Corporation (up 3.30% to Rs 2803), Reliance Energy (up 2.11% to Rs 2073), and ACC (up 2.55% to Rs 807.80), were the other gainers from Sensex pack

Indias largest real estate developer DLF slipped 5.20% to Rs 896 on 2.78 lakh shares. It was the top loser from Sensex pack.

Ranbaxy Laboratories (down 5.10% to Rs 349.20), Bharti Airtel (down 4.87% to Rs 870.05), and Infosys Technologies (down 4.60% to Rs 1451), were the other losers from Sensex pack

Banking shares though trading with losses, recovered from early lows, ahead of Reserve Bank of India (RBI)s quarterly monetary policy review scheduled on Tuesday, 29 January 2008. Indias largest commercial bank in terms of net profit State Bank of India slumped 4.25% to Rs 2302.90. The stock hit a low of Rs 2200 in early trade.

HDFC Bank was down 1.96% to Rs 1570, off days low of Rs 1440) while ICICI Bank gained 1.17% to Rs 1274, off days low of Rs 1201. As per media reports, a sharp cut in US interest rates last week has increased the possibility of a 25 basis points repo rate cut by Reserve Bank of India.

Indias largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was down 2.07% to Rs 2555.50. It moved in a range of Rs 2440 and Rs 2591. 4.91 lakh shares were traded on the counter on BSE. As per reports RIL plans to foray in engineering, procurement and construction business to clock a turnover of Rs 5,000 crore in first year itself and double it in second year.

European markets opened lower. Key benchmark indices in United Kingdom (down 1.19% to 5799), Germany (down 1.47% to 6,716.85) and France (down 1.73% to 4,793.33) slipped

Asian markets extended early losses today, 28 January 2008. Hong Kong's Hang Seng (down 5.06% at 23,852.15), Japan's Nikkei (down 3.97% at 13,087.91), Taiwan's Taiwan Weighted (down 3.28% at 7,485.79), Singapore's Straits Times (down 4.81% at 3,007.54), Chinas Shanghai Composite (down 7.19% to 4,419.29) and South Koreas Seoul Composite (down 3.85% at 1,627.19), edged lower.

US markets declined on Friday, 25 January 2008 led by financial companies, on concern that banks will be saddled with more credit market losses and the Federal Reserve won't cut interest rates enough to stimulate growth. Dow Jones industrial average slipped 171.44 points or 1.38% to 12,207.17. The Nasdaq Composite lost 34.72 points or 1.47% to 2,326.20.

Asian stocks had surged on Friday, 25 January 2008 led by several factors including strong corporate sentiment in Germany and a return of some confidence in the US economy after solid employment data and a congressional fiscal package. The Bush administration's fiscal package includes $150 billion of tax rebates and business incentives meant to prevent a slowdown in the country's economy.

The 30-share BSE Sensex soared 1,139.92 points or 6.62% to 18,361.66, its biggest ever singe day rise in absolute terms on a closing basis on Friday, 25 January 2008. The broader CNX S&P; Nifty jumped 349.90 points or 6.95% to 5383.35 on Friday, 25 January 2008

The BSE Sensex lost 652.04 points or 3.42% to 18,361.66 in the week ended Friday, 25 January 2008. The S&P; CNX Nifty fell 321.95 points or 5.64% to 5,383.35 in the week.

India's wholesale price index rose 3.83% in the 12 months to 12 January 2008 marginally higher than the previous week's rise of 3.79%, government data showed on Friday, 25 January 2008. The annual inflation rate was 6.15% during the corresponding week of the previous year.

As per provisional data, foreign institutional investors (FIIs) bought shares worth Rs 208.48 crore on Friday, 25 January 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 248.35 crore

FIIs were net buyers to the tune of Rs 2,878.77 crore in the futures & options segment on Friday, 25 January 2008. They were net buyers of index futures to the tune of Rs 2,045.63 crore and bought index options worth Rs 170.68 crore. They were net buyers of stock futures to the tune of Rs 673.34 crore and sold stock options worth Rs 10.87 crore.

Crude oil prices dropped on Monday, 28 January 2008 with the light, sweet crude for March delivery sliding 63 cents to $90.08 a barrel in electronic trading on the New York Mercantile Exchange in Singapore. Brent crude fell 50 cents to $90.40 a barrel on the ICE Futures exchange in London.

Powered byCapital Market - Live News