Indian Market today

The 30-share BSE Sensex gained 199.43 points or 1.25% at 16,123.15.
It opened slightly lower at 15,778.27 and slipped further to touch
a low of 15,739.05 in early trade. At the day's low, the Sensex
lost 184.67 points. It gained 244.41 points at day's high of
16,168.13 hit in early afternoon trade.

The broader based S&P CNX Nifty advanced 65.50 points or 1.36% at
4,865.90. Nifty March 2008 futures were at 4846.30, a discount of
19.60 points as compared to spot closing

The market breadth was strong: On BSE 2,070 shares advanced as
compared to 634 that declined. 37 shares remained unchanged.

The BSE Mid-Cap index rose 3.32% to 6,992.84 and the BSE Small-Cap
index gained 3.75% to 8,557.72. Both these indices outperformed the
Sensex.

The total turnover amounted to Rs 7253 crore as compared to Rs 6896
crore yesterday, 10 March 2008.

Turnover in NSE's futures & options segment declined to Rs 38176.25
crore as compared to Rs 42402.30 crore yesterday, 10 March 2008.

Most sectoral indices on BSE posted gains. The BSE Consumer
Durables index (up 2.75% to 4,259.52), the BSE Power (up 5.11% to
3,271.52), the BSE Capital Goods index (up 5.39% at 14,060.65), the
BSE Realty index (up 6.76% at 8,226.89), the BSE Metal index (up
1.73% to 16,072.74), the BSE Oil & Gas index (up 3.28% to
10,560.64), and the BSE PSU index (up 3.35% to 7,867.91),
outperformed the Sensex.

The BSE IT index (down 0.62% to 3,548.78), the BSE FMCG index (up
0.65% at 2,204.41), the BSE Health Care index (up 0.95% at
3,833.51), the BSE TecK index (down 0.47% to 3,055.70), the BSE
Bankex (up 0.58% at 8,487.24), the BSE Auto (up 0.33% at 4,669.34),
underperformed the Sensex

Shares from real estate sector surged on fresh buying. India's
largest real estate developer DLF surged 10.53% to Rs 752 on 10.58
lakh shares. It was the top gainer from Sensex pack.

Other gainers from real estate sector were HDIL (up 6.70% to Rs
681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech
(up 3.81% to Rs 283.30), edged higher.

Heavyweights from capital goods sector staged a smart comeback
after sell-off on previous day. India's largest private sector
engineering & construction company in terms of order book galloped
6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on
concerns of losses from commodity hedging for the fiscal year
ending March 2008.

India's largest engineering & construction company in terms of
order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after
hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.

India's second largest two wheeler maker by sales Bajaj Auto eased
from day's high of Rs 2140. It settled 4.80% higher at Rs 2078. The
stock surged ahead of record date of 25 March 2008 for effecting
the scheme of arrangement.

India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries advanced 3.16%
to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply
after hitting low of Rs 2215.15 in early trade

ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy
Laboratories (up 4.73% to Rs 453.90), were the other gainers from
Sensex pack.

India's top small car maker in terms of sales, Maruti Suzuki India
lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser
from the Sensex pack

IT pivotals were subdued. Satyam Computer Services (down 2.94% to
Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs
390.10), also declined

HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05),
were the other losers from Sensex pack.

Tata Motors dropped 2.36% to Rs 658. The company's board approved
raising additional long-term funds of up to Rs 4000 crore.

Shares from sugar sector surged on momentum buying. Shree Renuka
Sugars (up 31.36% to Rs 1160), Bajaj Hindustan (up 12.73% to Rs
236), Balrampur Chini Mills (up 10.51% to Rs 95.65), and Sakthi
Sugars (up 13.60% to Rs 74.35), surged on high volumes.

Reliance Energy was the top traded counter on BSE with turnover of
Rs 596.69 crore followed by RNRL (Rs 319.06 crore), GSS America
Infotech (Rs 311.81 crore), Reliance Petroleum (Rs 280.18 crore)
and Reliance Industries (Rs 208.20 crore) in that order.

Among the side counters, English Indian Clays (up 20% to Rs
1006.55), Shakti Pumps (up 20% to Rs 134.20), Deepak Fertilisers
(up 20% to Rs 105.75), SKY Industries (up 20% to Rs 59.20), and
Noida Toll Bridge (up 20% to Rs 43.55), surged.

However Network 18 Fincap (down 13.20% to Rs 310), Poddar Pigments
(down 10% to Rs 36.50), and Midas Pharma (down 10% to Rs 12.65),
slipped

Kotak Mahindra Bank vaulted 10.68% to Rs 679 after the private
sector bank denied reports of its books in a special audit by
Reserve Bank of India.

Orbit Corporation jumped 11.05% to Rs 534 after the firm sold a
stake in a unit, Orbit Highcity, to Cyprus-based Rodere Holdings
for Rs 200 crore. The investment would be used to develop township
projects in metropolitan region.

GAIL (India) rose 6.25% to Rs 418.50 on reports the company will
consider issuing bonus shares in two to three months. According to
reports, the company has planned a capital expenditure of Rs 4,200
crore for the full year ending March 2009, up from Rs 2,300 crore
this year.