The market extended gains further to touch fresh all-time high towards the latter part of the trading session. Market had made smart recovery in mid-afternoon trade from lower levels touched in afternoon trade. It was trading between positive and negative zone in mid-morning trade. The market had witnessed a bout of volatility in early trade. Capital goods, metal, auto and realty stocks extended gains. Mid-cap and small-cap indices outperformed market. Asian markets held firm. European markets were positive. The market breadth was marginally weak.

IT majors declined further in late trade. Infosys announced Q2 September 2007 results just before trading hours today, 11 October 2007. Reliance Industries edged higher in volatile trade.

The market had hit record high in early trade. It later slipped into the red shortly.

The BSE 30-share Sensex was provisionally ended up 141.45 points, or 0.76%, to 18,799.70 points. It opened on a positive note. It hit fresh all-time high of 18,832.65 in late trade. It hit intra-day low of 18,536.97 in afternoon trade. At day's low of 18,536.97, Sensex had lost 121.28 points for the day.

The broader based S&P; CNX Nifty provisionally ended up 89.9 points, or 1.65%, to 5,531.50. Nifty hit a fresh all-time high of 5,532.75 in late trade.

Of the 30 shares of the Sensex, 24 had moved up, while the remaining were trading down. The market breadth was almost even on BSE: 1,343 scrips advanced, 1,367 declined, while 381 remained unchanged.

The BSE Mid Cap index rose 1.52% to 7,598.30 and BSE Small Cap index rose 1.08% to 9,120.61. Both these indices outperformed Sensex.

The Bank of Japan (BoJ) today, 11 October 2007, kept interest rates unchanged at 0.5% as widely expected. Bank of Japan Governor Toshihiko Fukui said in a news conference that price pressures are growing and that there is no change in the central bank's stance on gradually adjusting interest rates in line with economic conditions.

Indias largest private company in terms of market capitalization and oil refiner Reliance Industries (RIL) rose 0.83% at Rs 2,639. The stock came off session's low of Rs 2,585.25. Earlier, the stock had pared gains from session's high of Rs 2,656. Reliance Industries and Indian Oil Corporation may jointly explore an oil area in East Timor, reports suggest. RIL said after trading hours yesterday, 10 October 2007, it will unveil Q2 September 2007 results on 18 October 2007.

Auto stocks rose in late trade. Tata Motors rose 3.62% to Rs 835.

Maruti Suzuki India rose 1.4% to Rs 1,116.50 on signing an agreement with Magneti Marelli and Suzuki Motor Corporation for starting a joint venture in India for manufacturing electronic control units for diesel engines.

Bajaj Auto (down 0.03% to Rs 2,620.20) and Hero Honda Motors (down 0.09% to Rs 754.90) edged lower.

Mahindra & Mahindra rose 8.32% to Rs 819.10. Mahindra & Mahindra's wholly owned subsidiary Mahindra Intertrade is all set to step into front end retail, reports suggest.

IT pivotals were major losers from Sensex pack after Infosys announced its results just before trading hours today, 11 October 2007. India's No. 2 software services exporter Infosys Technologies declined 7.46% to Rs 1,966. It clocked high volume of 24.23 lakh shares on BSE.

Satyam Computer Services (down 7.8% to Rs 446.50), Tata Consultancy Services (down 4.76% to Rs 1,071.40), Wipro (down 2.61% to Rs 490) edged lower.

Infosys has revised upwards earnings and revenue guidance for FY 2008 (year ending 31 March 2008).

The company has forecast a between 17.5% to 18.1% growth in EPS in FY 2008 as per Indian GAAP to between Rs 78.60 to Rs 78.99. It has forecast a between 19.4% to 19.8% growth in revenue as per Indian GAAP to between Rs 16588 crore to Rs 16648 crore.

As per US GAAP, the company has forecast a between 32.4% to 33.1% growth in consolidated earning per American depository share to between $1.96 to $1.97. The company has forecast a between 34.5% to 35% growth in revenue as per US GAAP to between $4.16 billion to $4.17 billion.

Infosys consolidated net profit as per Indian GAAP rose 1.94% to Rs 1100 crore in Q2 September 2007 over Q1 June 2007. Consolidated revenue rose 8.8% to Rs 4106 crore from Rs 3773 crore in Q1 June 2007.

Capital goods stocks extended gains. Larsen & Toubro rose 3.26% to Rs 3,482. It hit an all-time high of Rs 3,501 today after it acquired switchgear company in Malaysia. Bharat Heavy Electricals (up 3.2% to 2,405.25) and Suzlon Energy (up 0.26% to Rs 1,774.05) edged higher.

Metal stocks extended gains. Tata Steel (up 0.88% to Rs 853), Hindalco Industries (up 3.93% to Rs 177) edged higher.

DLF rose 2.91% to Rs 918.45. It touched a new high of Rs 926.95 ahead of its board meeting later today to consider overseas acquisitions and fund raising offshore.

ONGC (up 2.24% to Rs 1,031.95), Grasim Industries (up 5.63% to Rs 3,855), ACC(up 5.16% to Rs 1,281) edged higher.

Cipla declined 1.55% to Rs 190.25.

Side counters, Triton Valves (up 20% to Rs 2,137.30), Ennore Coke (up 20% to Rs 31.80), Ashiana Housing (up 20% to Rs 357.40), Nagreeka Capital (up 19.96% to Rs 102.15) and Jindal Drilling (up 20% to Rs 1,106.60) edged higher.

G L Hotels (down 9.08% to Rs 330), Sandesh (down 10.72% to Rs 182.80) and Hasti Finance (down 12.19% to Rs 14.05) edged lower.

European markets were firm. Frances CAC 40 (up 0.56% to 5,870.93), UKs FTSE 100 (up 0.69% to 6,679.20), Germanys DAX (up 0.64% to 8,038.16) edged higher.

Asian markets, which opened before the Indian markets, were trading higher today. Hong Kongs Hang Seng (up 1.97% to 29,133.02) Singapores Straits Times (up 1.61% to 3,875.77), Japan's Nikkei (up 1.64% at 17,458.98), South Koreas Seoul Composite (up 0.87% to 2,058.85), Taiwan's Taiwan Weighted (up 0.6% to 9,697.67) edged higher.

US stocks ended mixed on Wednesday, 10 October 2007. The Dow Jones lost 85.84 points, closing at 14,078.65. Nasdaq Composite rose 7.7 points, to close at 2,811.61.

US markets had surged earlier as non-farm payrolls report released on Friday 5, October 2007 showed US employers added 1,10,000 jobs in September 2007 and August 2007 job losses were revised to a gain, helping lift worries about a US recession in the near term.

As per provisional NSE data, foreign institutional investors (FIIs) were net buyers of Rs 1,462.29 crore of equities, while domestic institutional investors (DII) were net sellers of Rs 696.80 crore of equities on Wednesday, 10 October 2007.

The BSE 30-share Sensex rose 378.01 points, or 2.07%, to 18,658.25, a record closing high on Wednesday, 10 October 2007. Sensex had earlier completed its 17,000 to 18,000 journey in just 8 trading sessions, the second fastest 1,000-point rally ever. The market had hit 17,000 mark on 26 September 2007. The broader based S&P; CNX Nifty was up 114.2 points, or 2.14%, to 5,441.45, a record closing high on 10 October 2007.

Heavy FII buying and hopes of a further cut in interest rates by the US Federal Reserve at its next policy meeting on 30-31 October 2007 have boosted the bourses in the past few days.

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