The market recovered from its lows in early afternoon trade. The market had earlier surged in opening trade but pared gains in mid-morning trade. All the sectoral indices on BSE were in the green. Reliance Industries edged higher. Consumer durable, auto, realty and metal stocks moved higher. Shares of top private sector baking stocks slipped even as a host of PSU bank stocks rallies. BSE Mid-Cap and Small-Cap indices outperformed Sensex. The market breadth was strong. Key Asian markets were in the red.

At 12:19 IST, the 30-share BSE Sensex was up 102.60 points or 0.52% at 19,802.82. At days high of 19,971.44, the Sensex had gained 273.08 points.

The broader CNX S&P; Nifty was up 54.85 points or 0.93% at 5,961.70.

The market breadth was strong. On BSE, 2,172 stocks advanced, 508 stocks declined and 34 stocks were unchanged. 26 out of 30 stocks from the Sensex pack were in green.

The BSE Mid-Cap index rose 2.32% to 8,709.84 and the BSE Small-Cap index rose 2.72% to 10,663.02. Both these indices outperformed Sensex.

Auto stocks were in demand. Tata Motors (up 2.06% to Rs 712.50), Mahindra & Mahindra (up 2.22% to Rs 749.25), Hero Honda Motors (up 0.59% to Rs 698.50), Bajaj Auto (up 4.42% to Rs 2,452) and Maruti Suzuki India (up 0.53% to Rs 1,055) edged higher.

Metal stocks were in demand. Tata Steel (up 1.42% to Rs 856),Sterlite Industries (up 0.58% to Rs 1,025.55) , Steel Authority of India (up1.03% to Rs 265) and Hindalco Industries (up 1.96% to Rs 208.05) edged higher.

Index heavyweight and Indias largest private sector firm by market capitalisation Reliance Industries rose 0.17% to Rs 2,882.

ONGC (up 4.02% to Rs 1,295.70), Cipla (up 3.24% to Rs 186.50) and ACC (up 3.47% to Rs 1,075.75) edged higher.

Satyam Computer services (down 0.62% to Rs 425.90) and ITC (down 1.1% to Rs 202.90) edged lower.

Consumer durables stocks surged. Videocon Industries (up 5.06% to Rs 422.45), Titan Industries (up 1.46% to Rs 1,539.40), Rajesh Exports (up 1.26% to Rs 865.80) and Gitanjali Gems (up 2.72% to Rs 385.50) edged higher.

Realty stocks gained. India's largest real estate firm by market capitalisation DLF rose 2.35% to Rs 958.60. It replaced Dr. Reddys Laboratories in Sensex today. Indiabulls Real Estate rose 5.52% to Rs 673.

Unitech rose 2.91% to Rs 401.10. As per reports Unitech plans a non-banking financial corporation (NBFC) to sell home loans.

Banking majors declined. HDFC Bank (down 1.43% to Rs 1,663) and ICICI Bank (down 1.59% to Rs 1,200) edged lower. However Indias largest public sector bank in terms of operating income State Bank of India rose 0.45% to Rs 0.45% to Rs 2,336.

Side counters, Maestros Mediline Systems (up 20% to Rs 42.30), Twilight Li-Taka Pharma (up 20% to Rs 86.75), Borax Morarji (up 20% to Rs 80.40), Maytas Infrastructure (up 20% to Rs 1,144.25) and Bihar tubes (up 20% to Rs 182.10) edged higher.

Federal Bank (down 22.5% to Rs 367.75) and VTM (down 10.95% to Rs 132.50) edged lower.

Key Asian markets were trading in red. Hong Kong's Hang Seng (down 0.87% at 27,373), Japan's Nikkei (down 0.67% at 15,053.40), Singapore's Straits Times (down 0.85% at 3,413.98), South Korea's Seoul Composite (down 1.7% to 1,893.47) and Taiwan Weighted (down 0.1% at 8,773.88) 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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