The market declined in what was a choppy trading session today. It showed an alternate bouts of ups and downs throughout the day. European markets which opens after Indian market were strong. Asian markets which opened before Indian market edged lower. However there was plenty of action outside the index stocks, visible from the strong market breadth on BSE. BSE Mid-Cap and BSE Small-Cap indices struck fresh lifetime highs in afternoon trade.

Shares from FMCG, consumer durables, and Healthcare stocks rose while those of capital goods, IT, power and banking stocks declined.

Annual inflation, based on the wholesale price index (WPI), climbed up 3.75% in the week ended 1 December 2007 from 3.01% in the week ended 24 November 2007. The market estimate stood at 3.46%.

The 30-share BSE Sensex declined 75.02 points or 0.37% to 20,029.37 as per provisional data. It hit a high of 20,171.57 and a low of 19,936.49 so far during the day.

Market breadth was strong on BSE. On BSE, 2,031 stocks advanced, 844 stocks declined and 27 stocks remained unchanged. 15 out of 30 stocks from the Sensex pack advanced.

BSE Mid Cap index rose 0.98% to 9,467.45. It hit a fresh all time high of 9,518.86. BSE Small Cap index rose 1.52% to 12,190.22. It hit a fresh all time high of 12,262.12. Both these indices outperformed Sensex.

Banking stocks declined. ICICI Bank (down 2.62% to Rs 1,209.90), HDFC Bank (down 1.8% to Rs 1,726). However State Bank of India rose 0.95% to Rs 2,417.

Power stocks declined. NTPC (down 0.02% to Rs 246), Reliance Energy (down 0.34% to Rs 1,905), Power Grid Corporation (down 1.12% to Rs 145.60), Neyveli Lignite (down 1.84% to Rs 248) and Tata Power Company (down 0.49% to Rs 1,301) edged lower.

IT stocks declined. Infosys (down 1.13% to Rs 1,640), Satyam Computer Services (down 2.54% to Rs 410.35) and Wipro (down 1.29% to Rs 493.75) edged lower.However Tata Consultancy Services rose 1% to Rs 1,040.

Capital goods stocks declined. Bharat Heavy Electricals (down 1.17% to Rs 2,561.10), Larsen & Toubro (down 1.54% to Rs 4,169.70) and Bharat Earth Movers (down 1.71% to Rs 1,689.90) edged higher.

Indias largest private sector firm by market capitalization & oil refiner Reliance Industries rose 2.2% to Rs 2,895.10. Oil refining major is reportedly exploring ways to sell its petroleum products directly in the US and Europe. At present, the company sells its petroleum products through traders. Mulls setting up retail outlets in US.

Healthcare stocks rose. Fortis Healthcare (up 20% to Rs 104.30), Wockhardt (up 5.37% to Rs 429.65), Cadila Healthcare (up 5.01% to Rs 335.10), Cipla (up 2.65% to Rs 209.15), Dr. Reddys Laboratories (up 1.03% to Rs 717.90), Ranbaxy Laboratories (up 2.69% to Rs 422.20) edged higher.

FMCG majors rose. Marico Industries (up 2.68% to Rs 71.40),ITC (up 1.88% to Rs 200.60) and Hindustan Unilever (up 2.22% to 216.70) edged lower.

Consumer durable stocks rose. Videocon industries (up 6.75% to Rs 648.85), Blue Star (up 0.66% to Rs 488.25) and Gitanjali Gems (up 4.59% to Rs 416.75) edged higher.

Hindalco Industries rose 2.35% to Rs 213.80.

Tata Motors (down 2.03% to Rs 744.45),HDFC (down 2.51% to Rs 3,058.80) and Bharti Airtel (down 3.57% to Rs 952.55) edged lower.

European markets opened strong.Frances CAC 40 (up 0.34% to 5,609.92), Germanys DAX (up 0.56% to 7,973.74) and UKs FTSE 100 (up 0.59% to 6,401.90) edged higher.

Asian markets were trading lower today, 14 December 2007. Hong Kong's Hang Seng (down 0.65% at 27,563.64), Taiwan's Taiwan Weighted (down 0.85% at 8,118.82), Singapore's Straits Times (down 0.37% at 3,466.38), South Korea's Seoul Composite (down 1.09% at 1,895.05), Japans Nikkei (down 0.14% to 15,514.51) edged lower. Shanghai Composite rose 1.01% to 5,007.91.

US markets finished on a mixed note yesterday, 14 December 2007 as worries about a weakening economy and credit crunch continued. The Dow Jones Industrial Average gained 44.06 points, or 0.33%, to 13,517.96. The Standard & Poor's 500 index rose marginally by 1.82 points, or 0.12%, to 1,488.41, while the Nasdaq Composite index slipped 2.65 points, or 0.10%, to 2,668.49.

Meanwhile, the Government of India has reportedly allowed the Postal Life Insurance Fund (POLIF) and Rural Postal Life Insurance Fund (RPOLIF) to enter the stock markets through investments in public sector mutual funds. The Union Cabinet on Thursday, 13 December 2007 appointed UTI MF and SBI MF as managers for the over Rs 10,000-crore corpus of these two funds.

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