The market firmed up in mid-afternoon trade as European markets, which opened after Indian market, started on an upbeat note. Reliance Industries firmed up further. Auto, oil & gas and healthcare stocks were in demand. IT stocks edged lower. Buying continued in small-cap and mid-cap shares which have been rising since the past few days. Market breadth was strong. 21 out of 30 stocks from the Sensex pack were in green. Asian markets, which opened before Indian markets, were in green.

At 14:20 IST, the 30-share BSE Sensex was up 165.52 points or 0.85% to 19,695.02. Sensex hit a high of 19,719.76 in early trade. At day's high, Sensex had gained 190.26 points. Sensex hit a low of 19,560.68 in mid-morning trade. At day's low, Sensex had gained 31.18 points for the day.

The broader based S&P; CNX Nifty was up 67.55 points or 1.15% to 5925.90.

The BSE Mid-Cap index was up 1.70% to 9,055.67. The BSE Small-Cap index was up 2.96% to 11,280.76.

Market breadth was strong. On BSE, 2153 stocks advanced, 652 stocks declined and 58 stocks remained unchanged.

Indias largest private sector firm and oil refiner Reliance Industries rose 1.26% to Rs 2899.95, off days low of Rs 2863.

Indias largest private sector bank by assets ICICI Bank fell 0.39% to Rs 1136, off days high of Rs 1156.80.

Indias top state run oil explorer ONGC rose 3.38% to Rs 1195 on reports that the overseas arm of the company and the Hinduja group were in talks to form a partnership with Switzerland-registered NICO, a unit of National Iranian Oil Company.

The state-run gas transmission and distribution firm GAIL (India) surged 7.21% to Rs 471.50. The company and Reliance Industries on Tuesday (4 December 2007) signed a memorandum of understanding (MoU) for joint co-operation in petrochemicals. As per the MoU, both companies will explore opportunities for setting up petrochemical complexes outside of India in feedstock rich countries.

NTPC jumped 2.24% to Rs 244.35, Hindalco Industries gained 2.30% to Rs 198.20, Larsen & Toubro rose 1.95% to Rs 4312, HDFC Bank rose 1.21% to Rs 1723.10 and Reliance Communication gained 1.27% to Rs 720.85.

The BSE Auto index gained 1.33% to 5,713.94. Hindustan Motors surged 12.25% to Rs 48.10, Apollo Tyres soared 8.02% to Rs 45.10, Escorts jumped 7.70% to Rs 168, Punjab Tractors gained 5.21% to Rs 221.80, Tata Motors rose 4.54% to Rs 776.15 and Bajaj Auto gained 1.31% to Rs 2805.

The BSE Healthcare index was up 1.78% to 3,926.74. Ranbaxy Laboratories gained 1.08% to Rs 392, Pfizer soared 4.62% to Rs 708.25, Glenmark Pharmaceuticals jumped 4.57% to Rs 493.95, Divis Lab gained 3.85% to Rs 1709.70 and Cipla rose 2.30% to Rs 189.05.

The BSE Realty index was up 1.46% to 10,902.31. DLF rose 0.51% to Rs 952, Indiabulls Real Estate jumped 6.88% to Rs 641.05, Ansal Properties & Infrastructure gained 3% to Rs 280, and Parsvnath Developers rose 2.67% to Rs 378.25.

The BSE IT index fell 0.40% to 4,230.56. India's second largest software exporter by sales Infosys Technologies fell 0.91% to Rs 1599.80.

HCL Technologies declined 0.19% to Rs 310, Satyam Computers gave away 0.43% to Rs 439, TCS was steady at Rs 1029. Wipro gained 0.44% to Rs 498.95.

In Europe, key indices in UK, France and Germany were up by between 0.64% to 1.30%.

Asian markets were in positive zone today, 5 December 2007. Key indices in China, Japan, South Korea, Hong Kong, Singapore and Taiwan were up by between 0.30% to 2.58%.

US markets ended lower for second straight day yesterday, 4 December 2007. The Dow Jones industrial average slipped 65.8 points to 13248.73 and Nasdaq Composite index slipped 17.3 points at 2619.83.

Oil was steady on Wednesday, 5 December 2007, as the market kept its eyes on Organization of the Petroleum Exporting Countries (OPEC's) meeting in Abu Dhabi later in the day and the organisation's big Gulf producers left the door open for a possible output increase. US crude inched up 8 cents to $88.40 a barrel. London Brent crude rose 17 cents to $89.70 a barrel

As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 332.86 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 116.31 crore on Tuesday, 4 December 2007, in cash market.

FIIs were net buyers to the tune of Rs 617.57 crore in the futures & options segment on Tuesday, 4 December 2007. They were net buyers of index futures to the tune of Rs 280.09 crore and index options worth Rs 558.10 crore. They were sellers of stock futures to the tune of Rs 214.48 crore and sold stock options worth Rs 6.15 crore.

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