Trading for the New Year Samvat year 2064 began on a cheerful note. However, the market later slipped into the red due to weakness in global equities. Market breadth was strong. Reliance Industries gained. Realty, capital goods and banking stocks advanced. IT stocks fell further. Most of the European markets were trading weak.

US stock index futures slid on Friday, 9 November 2007, as Wachovia Corp, the fourth-largest US bank, disclosed exposure to securities linked to subprime mortgages, heightening investor concern about the impact of the credit crisis. Asian markets ended mixed.

At 18:24 IST, the Sensex was down 14.51 points or 0.07% to 19,045.71. It opened on a positive note and hit a high of 19,329.57 at the onset of the trading session. At days high of 19,329.57, Sensex had risen 270.64 points.

The broader based S&P; CNX Nifty was up 6.1 points or 0.11% to 5,704.85.

BSE clocked a turnover of Rs 1138 crore.

A special one-hour trading session to mark the beginning of the New Year Samvat year 2064 is being held today on the bourses. Trading began at 18:00 IST and will end at 19:00 IST.

The market breadth was strong on BSE: 1,508 scrips advanced as compared to 405 that declined while 35 remained unchanged. 14 of the 30 Sensex stocks were trading with gains.

The BSE Mid Cap index rose 1.27% to 8,046.72 and BSE Small Cap index rose 1.53% to 9,758.27. Both these indices outperformed Sensex.

India's largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 0.7% to Rs 2,761.90.

Capital goods stocks rose. Bharat Heavy Electricals (up 0.52% to Rs 2,808), Larsen & toubro (up 0.83% to Rs 4,165) and Suzlon Energy (up 1.15% to Rs 1,909.90) edged higher.

Realty stocks also rose. DLF (up 0.98% to Rs 920.90),Indiabulls Real Estate (up 1.7% to Rs 642.10) and Unitech (up 1.11% to Rs 365.30) edged higher.

Banking stocks gained. State Bank of India (up 1.11% to Rs 2,209), HDFC Bank (up 1.06% to Rs 1,576) and ICICI Bank (up 0.09% to Rs 1,169.70) edged higher.

Export-driven software services companies, which are already under pressure because of a firmer rupee extended losses on concerns over a possible downturn in the United States, which accounts for more than half their revenue. Infosys Technologies (down 0.63% to Rs 1,705), Satyam computer Services (down 1.39% to Rs 428.50), Tata Consultancy Services (down 0.39% to Rs 988.50) and Wipro (down 1.43% to Rs 463) edged lower.

Reliance Communications (up 0.94% to Rs 711.50), Hindalco Industries (up0.74% to Rs 205.15) and National Thermal Power Corporation (up 0.64% to Rs 242) edged higher.

Bajaj Auto (down 1.29% to Rs 2,399), ACC (down 1.12% to Rs 1,045) and Bharti Airtel (down 1.08% to Rs 874.80) edged lower.

The wholesale price index rose 2.97% in the 12 months 27 October 2007, below the previous week's rise of 3.02% and its lowest in more than five years, government data released on Thursday, 8 November 2007 showed.

Most of the European markets were trading in red today. Frances CAC 40 (down 1.2% to 5,563.86) and UKs FTSE 100 (down 0.86% to 6,326.80) edged lower. Germanys DAX (up 0.4% to 7,851) edged higher.

US markets ended weak on Thursday, 8 November 2007 after Federal Reserve Chairman Ben Bernanke said a weak housing market and high oil prices would slow US growth in the fourth quarter and keep it sluggish in early 2008. Dow Jones Industrial Average (DJIA) lost 33.73 points to 13,266.29. Nasdaq Composite shed 52.76 points to 2,696.

National Stock exchanges (NSE) provisional data shows that foreign institutional investors (FII) were net sellers of shares worth Rs 1,356.53 crore and domestic institutional investors (DII) were net buyers of shares worth Rs 283.32 crore on Thursday, 8 November 2007.

Samvat 2,063 had been an eventful year. Sensex galloped by a whopping 6,322 points. Though this is the biggest point move in a single year, it's not the highest in terms of percentage gains. The highest percentage gains record belongs to Samvat 2055 (1998-99), when the Sensex rallied 61% from 2,853 to 4,598. In Samvat 2,063 , the index appreciated 49.6% from the 12,736 points it had closed last Diwali. The markets though ended the year on a negative note as the 30-share BSE Sensex ended 230.90 points or 1.20% lower at 19058.93 and the broader S&P; CNX Nifty was down 83.6 points or 1.45% at 5698.75 on Thursday, 8 November 2007.

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