MARKET UPDATE FOR 1 SEPT, 2008

The market may edge lower on weak cues from global equities.

US stocks tumbled on Friday, 29 August 2008, led lower by tech

shares after computer maker Dell warned that companies worldwide

are cutting back on technology spending. The Dow Jones industrial

average lost 171.47 points, or 1.46%, at 11,543.71. The Standard &

Poor's 500 Index was down 17.93 points, or 1.38%, at 1,282.75. The

Nasdaq Composite Index shed 44.12 points, or 1.83%, at 2,367.52.

Economic data added to the market's jitters ahead of the long

Labor Day weekend. US market remains closed on Monday,

1 September 2008, for Labor Day holiday. The Indian stock market

surged on Friday, 29 August 2008, as data showing a slower-than-expected

GDP growth in Q1 June 2008 and softening of inflation raised

hopes for a pause in monetary tightening by the central bank.

The BSE Sensex jumped 516.19 points. India's gross domestic

product (GDP) grew 7.9% in the June 2008 quarter from a year earlier,

easing from the previous quarter's 8.8% rise as industrial activity

slowed due to monetary tightening. The GDP growth in the first quarter

of the current fiscal year was lower than market expectations of a rise

of a little above 8% According to a recent report by Goldman Sachs,

the outcome of the southwest monsoon is key as 60% of India's labour

force is engaged in the agricultural sector and it has big knock-on effect

on industry and services. The monsoon rains between 1 June 2008 to

24 August 2008 were near normal at 1% below the long-term average.

STOCK UPDATE FOR 1 SEPT, 2008

AFTER A SMART PULLBACK ON FRIDAY LAST WEEK,

INDIAN EQUITIES COULD WITNESS A WEK SESSION

TODAY.

BUY BANK OF INDIA FOR SHORT TERM DELIVERY

TARGET OF RS.300.

AUG 30 SATURDAY

BANK STOCKS GAIN ON EASING INFLATION

Buying in banking shares and blue chips on a

surprise drop in inflation and gains in Asian peers

helped Indian shares to end higher on Friday.

The economy grew at 7.9 % in April versus 8.8 %

in the previous quarter.

Participants expect the market to track global

exuities and crude oil price movement in the

near term.

They forecast the sensex to trade in a range of

13900 to 15000 next week.

GAINERS OF THE DAY

ICICI Bank rose to 5.8 % to Rs 671.50.

State Bank Of India rose 7.2 % to Rs 1403.6.

HDFC Bank was up 5.1 % to Rs 1277.25.

Reliance Industries rose 3 % to Rs 2136.75.

Bharati Airtel rose 4.2 % to Rs 837.20.

Larsen And Toubro was 3.5 % higher at Rs 2589.85.

Tata Steel rose 5 % to Rs 600.35.

TRADING CALLS FOR AUG 29 FRIDAY

But Rel Infra For delivery of 2 months ,

For target of Rs 1120.

Markets at 3.22 PM

Sensex up 536 points at 14586.

Nifty up 153 points at 4367.

TRADING CALL UPDATE AT 3 PM ON 28, AUGUST

SELL TATASTEEL SEPTEMBER FUTURES

CMP RS.572 FOR SHORT TERM DELIVERY

TARGET RS.550, STOPLOSS RS.590.

LEVELS AS PER CASH AT 3.08 PM

SENSEX DOWN 279 PTS AT 14017

NIFTY DOWN 85 PTS AT 4207.

AUG 28 THURSDAY

1. Buy Educomp Solutions , Cmp Rs 3273,

For short term delivery Target of Rs 3390


Market outlook :

Expect another cautious opening and a choppy

day due to F&O Expiry and inflation weekly

data expected to be released at 5 Pm today.

AUG 28 THURSDAY

EQUITIES TUMBLE AS OIL MOVES UP.

Shares fell 1.3 % on Wednesday to lowest close

in almost a week , as investor confidence was

rattled after oil rose for a third day.

Financial stocks fell as oil climbed above $ 117

a barrel , triggering worries , the Central Bank

may again tighten monetary policy to douse inflation

expectations.

All but 5 components in the Sensex fell. The bench

mark is down almost 30 % this year.

LOSERS OF THE DAY

ICICI Bank fell 2.7 % to Rs 648.85

State Bank Of India fell 3 % to Rs 1330.90.

Reliance Industries fell 1.5 % to Rs 2147.85.

GAINERS OF THE DAY

Jindal Photo Ltd rose 8.7 % to Rs 146.

Kilburn Engineering rose 6.5 % to Rs 37.10.

Thomas Cook rose 15.2 % to Rs 98.85.

Nu Tek Ltd was up 3.8 % to Rs 199.30

SHORT TERMINVESTMENT CALL

BUY MCDOWELL SMALL QUANTITY AT RS.1330

SL RS.1314 TARGET RS.1380. TRADING PERIOD

2 DAYS.

INVESTMENTCALLFOR 27 AUGUST

BUY SUNPHARMA CMP RS.1508, FOR A

DELIVERY TARGET OF RS.1600.

MARKETS AT 10.10 AM

SENSEX DOWN 5 POINTS AT 14476

NIFTY DOWN 1 POINT AT 4336.

AUG 27 WEDNESDAY

BANKS, TECH STOCKS LEAD SENSEX HIGHER

Gains in banks and most technology counters helped

shares offset losses in index heavyweight ,Reliance

Industries, helping them end slightly higher on Tuesday.

The Bombay Stock Exchange's 30 stock sensitive

index or sensex rose 31.87 points or 0.2 % to end

at 14482.22.

Participants expect the market to continue tracking

global markets on Wednesday , even though some

volatility is expected ahead of the expiry of the August

derivatives contract on Thursday.

Banks rose for the third consecutive session on

hopes that falling crude oil prices would help bring

down inflation in the country thereby allowing

the Central ank to resist from further intrest

rate hikes.

Sweet light Crude for Octoberdelivery was trading

at $ 113.70 a barrel on the New York Mercantile Exchange.

GAINERS OF THE DAY

ICICI Bank rose 1.7 % to Rs 666.90

HDFC Bank gained 3.9 % to Rs 1255.45

State Bank Of India was up 1 % to Rs 1371.45.

Satyam rose 3.3 % to Rs 406.10.

Wipro gained 2.1 % to Rs 428.65.

LOSER OF THE DAY

Reliance Industries closed down 2.2 % to Rs 2179.65.

INVESTMENT CALL ON 26, AUGUST,2008

BUY CROMPTON GREAVES CMP 264 RS., FOR

DELIVERY TARGET RS.290 FOR 3 WEEKS.

MARKETS AT 2.10 PM : SENSEX DOWN 60 PTS

AT 14390. NIFTY DOWN 21 PTS AT 4313.

AUG 23 SATURDAY

BARGAIN HUNTING LIFTS EQUITY MARKET

Bargain hunting helped shares end higher on Friday ,

ignoring a rise in the country's inflation rate to its

highest level in over 13 years.

The Bombay Stock Ecshange's 30 stock sensitive index

or sensex rose 157.76 points or 1.1 % to end at 14401.49.

The whole sale price index bsed inflation rate surged

by 12.63 %.

Light sweet crude for October delivery was trading at

$ 120.54 a barrel on the New york Mercantile Exchange

after having jumped $ 5.62 to settle at $ 121,18 a barrel

on Thursday.

On the National Stock Exchange the 50 stock S&P CNX

Nifty rose 43.60 points to close at 4327.45.

GAINERS OF THE DAY

Sterlite rose 4.3 % to Rs 626.75.

Hindalco rose 4.3 % to close at Rs 134.55.

Hindustan Unilever rose 3.7 % Rs 244.85.

Housing Development Finance Corp rose 3.2 % to Rs 2280.

Infosys rose 1.8 % to Rs 1695.05.

Reliance industries gained 1.5 % to Rs 2245.65.

AUG 22 FRIDAY

1. Sell ICICI Bank at Rs 644, Stop loss Rs 651

Target Rs 634.

AUG 22 FRIDAY

SENSEX ENDS DOWN ON INFLATION WOES.

A sharp fall in banks on fears inflation wil be higher

than expected dragged shares lower on Thursday

but participants expect the market to recover its

losses next week as investors will likely to hunt

for bargains in blue chips.

The Bombay Stock Exchange's 30 Stock

sensitive index or sensex fell 434.50 points or

3 % to end at 14243.73, its lowest close since

July 29.

The wholesale price index based inflation rate is

likely to increase to 12.63 % .

On the National Stock Exchange the 50 stock S&P

CNX Nifty declined 131.90 or 3 % to close at 4283.85.

LOSERS OF THE DAY

State Bank Of India plunged 7.1 % to Rs 1342.25.

ICICI Bank last 5.2 % to Rs 643.10.

HDFC Bank closed 5.8 % lower at 1165.80.

DLF fell 5.6 % to Rs 481.60.

Unitech was down 5.4 % to Rs 160.10.

Larsen and Toubro fell 3.2 % to Rs 2628.15.

Reliance Infrastructure fell 1.4 % to Rs 2212.35.

AUG 22 FRIDAY

1. Sell Renuka Sugars Cmp Rs 125 , Stop loss Rs 128

Intraday target Rs 118, 116.

2.Buy Ranbaxy Cmp Rs 514 , Stop loss RS 509,

Target Rs 525.

3.Sell HPCL at RS 204, Stop loss Rs 208,

Target Rs 195.

MARKET UPDATE AT 2 PM, AUGUST 21, 2008

Key benchmark indices continued downward jouney in afternoon tradewith Sensex falling close to 350 points at the day's low. Ratesensitive banking stocks fell ahead of the weekly inflation data tobe released by the government after the trading hours today, 21August 2008. European markets, which opened after Indian markets,slipped in early trade. FMCG, healthcare, auto and metal stocks were down. State Bank ofIndia fell more than 5%. NTPC was down close to 5% and HDFC Bankfell more than 4%. Weak Asian markets also weighed on thesentiment. Chinese market declined after yesterday's steep rise. European markets which opened after Indian market were red.France's CAC 40, Germany's DAX and UK's FTSE 100 were down between1% to 1.36%. At 13:21 IST, the BSE 30-share Sensex was down 340.48 points or2.31% to 14,339.41. At the day's low of 14,336.76, the Sensex lost341.47 in afternoon trade. At day's high of 14,646.98, the indexlost 31.25 points in early trade. The S&P CNX Nifty was down 107.1 points or 2.43% to 4,308.65. The BSE Mid-Cap index was down 1.35% to 5,747.49 and the BSESmall-Cap index was down 1.17% at 6,983.67.

AUG 21 THURSDAY

TRADING CALLS FOR THE DAY

1.Buy Relcapital for short term delivery , Target Rs 1400,

Stop loss Rs 1270.

MARKET SUMMARY UPDATE FOR 20 AUGUST 2008

The market ended with decent gains after it had posted losses forthe last five successive trading sessions. However, it came offfrom a intra-day high hit in late trade. Asian stocks rebounded from a two-year low as Chinese shares surgedon hopes the government will introduce a stimulus package to boostthe slowing economy and aid the stock and property markets.European markets which opened after Indian market were in green. The BSE 30-share Sensex rose 134.50 points or 0.92% to 14,678.23.At day's high of 14,746.20, the index gained 202.47 points in latetrade. At the day's low of 14,584.03, the Sensex was up 40.30points in mid-morning trade. The S&P CNX Nifty rose 47.50 points or 1.09% to 4,415.75.

TRADING CALLS ON AUG 20

1.Buy Rolta at Rs 337 , with stop loss Rs 320,

For delivery target of Rs 380 in 2 to 3 Weeks time.

Markets at 1.28 PM

Sensex up 97 points at 14641

Nifty up 36 points at 4404.

MARKET SUMMARY UPDATE FOR 19 AUGUST 2008

Fears of more losses from the US mortgage crisis globally hitdomestic bourses today. The market, however, recovered in latetrade to end marginally lower. From a recent high, Sensex has lost960 points, falling for fifth trading session in a row today.

Consumer durable, IT, Auto stocks fell. ACC fell more than 5%.Maruti Suzuki India fell close to 4%. Reliance Industries rose.Reliance Infrastructure spurted.
The BSE 30-share Sensex lost 101.93 points or 0.7% to 14,543.73. Atday's high of 14,604.11, the index lost 41.55 points in late trade.At the day's low of 14,368.72, the Sensex lost 276.94 inmid-afternoon trade. The S&P CNX Nifty was down 24.8 points or 0.56% to 4,368.25. Sensex has lost 960.19 points or 6.6% from a recent high of15503.92 hit on 11 August 2008. The barometer index is down5,743.26 points or 28.31% in the calendar year 2008 so far from itsclose of 20,286.99 on 31 December 2007. It is 6,663.04 points or31.41% away from its all-time high of 21,206.77 struck on 10January 2008. The BSE clocked a turnover of Rs 3955 crore today as compared to aturnover of Rs 3,847.50 on Monday, 18 August 2008.

AUG 19 TUESDAY

Blue chips fall on rising inflation.

Investors sold heavyweight Reliance Industries,

and other blue chips on concern that rising inflation

could raise company's borrowing costs, leading

Indian shares to its fourth consecutive session

of losses on Monday.

The Bombay Stock Exchanges's 30 Stock Sensitive

index , or sensex fell 78.52 points or 0.5 % to end at

14645.66.

Participants exprct the sensex to track overnight

Wall Street cues and crude prices for direction on Tuesday.

Some expect the sensex to trade between 14000

and 15100 this week.

On the National Stock Exchange the 50 stock S&P Nifty

lost 37.65 points or 0.9 % to close at 4393.05.

LOSERS OF THE DAY

Reliance Industries fell 2.2 % to Rs 2224.95.

Bhatrati Airtel was down 1.4 % to end at Rs 808.20.

Grasim Industries fell 4.5 % to Rs 1963.50.

Mahindra and Mahindra fell 2.6 % to Rs 568.10.

Hindalco Industries fell 4.5 % to Rs 129.65.

GAINERS OF THE DAY

Technology shares bucked the trend to close

higher for the second consecutive session on hopes

that dollar strength against the Rupee could lift its

revenue from the US,its main market.

Infosys gained 0.8 % to Rs 1702.40.

Satyam Computers rose 1.7 % to Rs 419.10.

AUG 19 TUESDAY

TRADING CALL

Sell RIL Futures for short term delivery , Target Rs 2105 , Stop loss Rs 2275.

TRADING CALL ON 18 AUGUST AT 3 PM

BUY ADSL CMP RS.758 FOR DELIVERY TARGET OF RS.900

IN 6 MONTHS. MARKETS AT 3 PM SENSEX DOWN 93 POINTS

AT 14630, NIFTY DOWN 42 POINTS AT 4388.

AUG 18 MONDAY

PREMARKET CALLS

1.Short Punj Lyod Aug Future @ Rs 276, for a target price of Rs 260

Stop loss Rs 282.

AUG 15 FRIDAY

SENSEX ENDS DOWN ON INFLATION WOES.

Profit booking in Reliance Industries and selling in intrest

rate sensitive sectoes such as banks and real estate on

concerns that inflation may hit a fresh 13 year high.

led shares lower for the thirs consecutive seesion

on Thursday.

The Bombay Stock Exchange 30 stock sensitive index

or sensex fell 368.94 points or 2,4 % lower to end at 14724.18.

Participants expect the sensex to fall more on Monday if Crude

prices continue to rise .

Stock markets will be closed on Friday due to National

Holiday.

On the National Stock Exchange , the 50 stock S&P

CNX Nifty declined 98.35 points or 2.2 % lower to

close at 4430.70.

LOSERS OF THE DAY

ICICI Bank fell 5.2 % to Rs 673.25.

State Bank of India declined 6.2 % to Rs 1458.20

DLF closed 8.7 % lower at Rs 501.10

Reliance Infrastructure fell 7.7 % to Rs 985.45

Larsen declined 4.8 % TO rS 2660.55

Reliance Industries fell 2.8 % to Rs 2275.30

However select Technology firms gained on expectation

that they wont be affected by rising crude oil prices or

inflation.

AUG 14 THURSDAY

INVESTMENT CALL

1.Buy TECH MAHINDRA @ Rs 784 , for 6 months delivery,

Target of Rs 900.

Markets at 2.39 PM

Sensex down 262 points at Rs 14829.

Nifty down 67 points at 4461.

AUG 15 THURSDAY

TRADING CALLS

1. Buy Satyam Computers Cmp Rs 406, for short

term delivery , Target Rs 430.

AUG 14 THURSDAY

MARKETS END WEAK FOR SECOND DAY IN A ROW.

Losses in banks and select blue chips triggered by weak

global markets , led Indian shares lower for the second

consecutive session on Wednesday.

Sentiment was also weakened by a Federal Government panel

saying it expects economic growth to slow down to

7.7 % in the current financial year that began April 1

due to a global slowdown and a sharp rise in

inflation.

The Bombay Stock Exchange's 30 stock sensitive index ,

or sensex fell 119.01 points or 0.8 % to end at 15093.12.

Stock markets will closed on Friday due to a national

holiday.

On the National Stock Exchange , the 50 stock S&P CNX

Nifty declined 23.20 points or 0.5 % to close at 4529.05.

Losers beat gainers 1420 to 1238 while 90 stocks were unchanged.

The BSE'S 18 Stock Bankex declined 2.2 % to close at 7271.40

after closing 4.2 % lower on Tuesday as traders continued to

book profits.

GAINER OF THE DAY

Sterlite was the biggest gainer rising 2.7 % to Rs 613 on

bargain hunting,

Infosys ended 1.3 % higher at Rs 1625.20

LOSERS OF THE DAY

ICICI Bank fell 3.8 % to Rs 710.55.

HDFC Bank lost 3.7 % to Rs 1217.20.

Larsen And Toubro fell 1.9 % to Rs 2795.85

ONGC declined 0.3 % to RS 1084.85

Bharti Airtel closed 0.2 % lower at Rs 821.60.

AUG 13 WEDNESDAY

INVESTMENT CALL


1.Buy Gamon India Cmp Rs 243.10 , for short term delivery target rS 280.

Markets at 3.05 pm Sensex down 139 points , at 15071.

Nifty down 32 points at 4519.

AUG 13 WEDNESDAY

TRADING CALLS FOR THE DAY

1.Sell Tata Power Futures ,for short term delivery,Target Rs 990.

AUG 13 WEDNESDAY

BANKS , BLUE CHIPS LEAD MARKET FALL.

Shares broke a 5 day winning streak to close lower

on Tuesday due to selling in banking shares and

blue chips.A muted rise in June industrial output

also weighed on sentiment.

The Bombay Stock Exchange's 30 stock Sensitive Index

or sensex fell 291.79 points or 1.9 % to end at 15212.13.

Participants expect the market to track global equities and

crude oil price movement for the rest of the week.

Stock market will be closed on Friday for Independence

Day.

Onthe National Stock Exchange the 50 S&P CNX Nifty

declined 68.15 points or 1.5 % to close at 4552.25.

Bank shares led the fall as investors took profit

after a recent rally.Investors also sold on fears that

a continued rise in inflation could prompt the

Reserve Bank of India to further tighten its monetary

policy in coming months.

LOSERS OF THE DAY

ICICI Bank declined 4.2 % to Rs 738.40.

State Bank Of India fell 2.2 % to Rs 1557.55.

Tata Steel fell 5.7 % to Rs 607.95.

Infosys Technologies fell 4 % to Rs 1603.70.

Maruti Suzuki India fell 5.2 % to Rs 678.05.

AUG 12 TUESDAY

Buy Lupin for short term delivery , target Rs 780.

Markets at 3.02 PM

Sensex down 236 points at 15267.

Nifty down 56 points at 4563.

AUG 12 TUESDAY

With IPP number down YOY, Brazil and Chinese markets

continue it underperform and review of FII norms by SEBI

tommorow, we advise traders to stay light.

AUG 12 TUESDAY

Today we expect the market to open on a positive

note.

TRADING CALLS

1.Buy Reliance Capital at Cmp Rs 1442, for short term

delivery target of Rs 1575.

AUG 12 TUESDAY

SHARES END HIGHER ON FALLING CRUDE PRICES.

Blue chips such as Reliance Industries , Oil and Natural

Gas and ICICI Bank helped Indian shares end higher

for the fifth consecutive session in Monday , with

sentiment boosted by Wall Street's strong close

on Friday due to a slide in crude prices.

The Bombay Stock Exchange's 30 stock sensitive

index , or sensex , rose 336.10 points or 2.2 % to end at

Rs 15503.92. It traded between 15367.97 and 15520.71

during the session.

Participants expect the markets to closely follow

global markets with some profit taking at every

rise .

The stock markets will be closed on Friday on

account of national holiday.

On Monday sweet light crude for September

delivery was trading at $ 116.32 a Barrel on the

Ner York Mercantile Exchange.

Despite Mondays rise Nymex crude is still under

some downward pressure following last week's

steep 7.9 % drop.

On the National Stock Exchange the 50 stock

S&P CNX Nifty rose 90.90 points to close at Rs 4620.40.

GAINERS OF THE DAY

Reliance Industries gained 3.4 % to Rs 2326.

ICICI Bank rose 5.7 % to Rs 770.75.

State Bank of India gained 4.6 % to Rs 1592.60.

HDFC Bank closed 2.2 % higher at Rs 1308.70

AUG 11 MONDAY

TRADING CALLS

1. Buy L&T for short term delivery Target Rs 2980.

L&T proposes to raise Rs 2400 Crores through securities.

2.Buy SCI for short term delivery , Target Rs 270.

AUG 11 MONDAY

DALAL STREET LIKELY TO SUSTAIN CURRENT

BULL MOMENTUM.

CRUDE PRICES WATCHED CLOSELY.

The crude oil price fall since July 11, from

the all time high of $ 147 a Barrel has been

significant.The early impact of the fall

has been showing on the Indian Equity Market.

particularly in the last couple of weeks.

As the sentiment improved ,the short covering

boosted the valuation.This week , the trend is

likely to continue. Dalal street may draw support

from weakening crude oil prices and is likely to bet

on further decline in the prime commodity.

Last week the , the global markets , saw a major

sell off in resource stocks and commodities -

from crude oil to cocoa and copper - prompting some

analyst to officially declare the end hot commodity

rally and green back strengthened after the US Federal

Reserve Bank left intrest rates unchanged as widely

expected.

In the short term Dalal Street will attempt to factor in

the correction in the global commodities.However

a time lag in realising the impact on indian prices and

inflation will lead an element of volatility to the

equity market.

The liquidity flow to the indian market which has

dwindled can be expected to improve if a clear

direction in global financial and commodities

market emerges.

AUG 9 SATURDAY

VALUE BUYING PUSHES UP SHARE PRICES

Bargain hunting in some blue chips in the last hour of

the session helped shares to end slightly higher on Friday

after having been in negative territory for most of the session

on profit taking ab=nd worries about inflation,

The Bombay Stock Exchange's 30 stock Sensitive index ,

or sensex , rose 50.57 points or 0.3 % , to end at 15167.82 in

a volatile session marked by buying at low valuations and

quick profit taking.

The index has gained nearly 4 % in the last 3 sessions.

It opened lower in line with Wall Street's overnight fall

taking the markets down to 14888.12 before value buying

took it an intra day high of 15228.82.

GAINERS OF THE DAY

ICICI Bank rose 2.9 % to Rs 728.90 after falling

to an intraday low of 683.10.

Larsen and Toubro was up 2.8 % at Rs 2834.05.

LOSERS OF THE DAY

Reliance Industries and Bharati Airtel were

among the shares dragging the markets down.

Infosys fell 2.4 % to Rs 1679.85.

Satyam declined 1.8 % to Rs 409.

Reliance dipped 0.9 % to Rs 2250.45

Bharati Airtel closed 1 % to Rs 841.70.

TRADING UPDATE

BUY ADLABS CMP 561 DELIVERY TARGET 630 IN 3-4 WEEKS.SENSEX UP 108 POINTS AT15225. NIFTY UP 16 POINTS AT 4539.

AUG 8 FRIDAY

We expect the market to be cautious at open as most Globalmarkets are down.

TRADING CALLS

1.Sell Nalco Futures ar Cmp Rs 401, for short term delivery.Target Rs 378.2.

Nifty support 4450 and resistence 4600.

3.Buy Gail CMP Rs 430, Stop loss Rs 425, Target Rs 442/445.

3.Buy Adlab CMP rS 550, Stop loss Rs 545, Target Rs 560/563

4.Buy Neyveli Lignite CMP Rs 122, Stop loss Rs 117, Target Rs 128

5.Sell Rolta CMP Rs 302, Stop loss Rs 307, Target Rs 292.

6.Buy GIPCL Stop lossRs 79, Target Rs 86/88.

AUG 8 FRIDAY

STOCKS END HIGHER AMID VOLATILITY

Shares closed higher on Thursday after a volatile sessionwith

traders taking profits at highs and investors lookingfor bargains

at lows.The Bombay Stock Exchange's 30 stock sensitive index ,or

sensex rose by 0.3 % to end at 15117.25.It opened weak as profit

taking continued from the closing hour of trade on Wednesday ,

taking the markets down to 14,992.97 before bargain hunters

took it to an intra day high of 15280.06.On the National Stock

Exchange the 50 stock S&P CNX Nifty closed flat at Rs 4523.85

.Automobile makers gained as traders bought on expectations that

vehicle sales are likely to receivea much needed boost with the

Indian festival seasonkicking off from September , typically the

time whensales are high.

Shares were also helped by hopes that falling crude prices may help

stall inflation , which may prompt the Central Bank to keep intrest

rates steady.

GAINERS OF THE DAY

Tata Motors rose 4. 1 % TO Rs 444.20

Mahindra rose 2.5 % to Rs 575.95

Maruti Suzuki closed 2.4 % higher to close at Rs 668.55

LOSERS OF THE DAY

Bharati Airtel fell 2.5 % to Rs 850.15

Reliance Communication declined 1.8 % to Rs 438.55

Idea Cellular closed 0.4 % lower at Rs 89.15

TRADING CALL AT 11.45 AM ON AUGUST 7, 2008

BUY ASHAPURA MINECHEM AT 125.5, SL 115, TARGET 150, 165 IN 2 WEEKS.

MARKETS AT 11.43 AM SENSEX 15175 UP 102 POINTS, NIFTY UP 26 POINTS AT 4543.

MARKET UPDATES 11.30 AM 0N 7 AUGUST

HINDUSTAN ZINC CUTS ZINC PRICES BY RS.3500 PER TON.

ITC HIKES CIGARETTE PRICES AS PER PTI REPORTS

TRADING CALL ON 7 AUGUST, AT 10.45 AM

BUY AND HOLD M AND M AT 575 SL 568 TARGET 597, 602

TRADING CALL AT 10.45 AM ON AUGUST 7, 2008

SHORT RELIANCE INFRA AUGUST FUTURES AT 1017 - 1030, SL 1065, TARGET 965/ 955IN 2TO 3 DAYS( LEVELS AS PER CASH)

GRAPEVINE INVESTMENT CALLON 7 AUGUST 2008

BUY HARRISSON MALAYALAM AT CMP 102, FOR TARGET 150

TRADING CALL AT 10.15 AM ON 7 AUGUST

SHORT IDEA FUTURES AT 89.7 , WITH SL 92, TARGET 82

UPDATE ON THURSDAY 7 AUGUST, 2008 AT9.30 AM IST

THE STOCK MARKET ON WEDNESDAY 6 AUGUST WITNESSED SHARP PROFITBOOKING IN THE LAST HOUR OF TRADE, AND GAVE UP NEARLY 300 POINTS ON THE SENSEX. THE STARS OF THE DAY WERE THE SUGAR STOCKSALL OF WHICH POSTED HANDSOME GAINS. THE MARKET IS BULLISH ON BAJAJ HINDUSTAN AND SREE RENUKA SUGARSAT CURRENT LEVELS. BANK STOCKS PERFORMED WELL TOO , AND THE PSU BANKS LOOK ATTRACTIVE AT CURRENT VALUATIONS.

THE INFLATION FIGURES ARE EXPECTED TODAY AT 5 PM, AND ISEXPECTED AT AROUND 12.04%.

PRE OPENING CALL: SELL TATA POWER FUTURES CMP 1064, FOR SHORT TERM DELIVERY TARGET RS.1000.
THE OUTLOOK FOR TODAY IS A FLAT OPENING WITH A QUIET FIRST HALF.

AUG 6 WEDNESDAY

SENSEX RISES 383 IN LATE SURGE.

The fall in crude to below $ 120 a barrell and the positive

opening of the European markets pushed

Indian equities to a gain of 2.5 % on Tuesday.

The Indian market opened flat because of the weakness in

the Asian markets which closed in the red on Tuesday

as well as on cues from the weak overnight U.S markets.

However as the European markets opened the sensex

gained 383 points in a late surge , closing very near to

the 15000 mark at 14961.

The Nifty closed above the 4500 mark at Rs 4502.85, up

107 points.

Banking and realty stocks gained more than 6.5 % while

the automobile sector moved up by more than 4 per cent.

The BSE Midcap and Small cap indices gained 1.7 % and

1.26 % respectively.

There was mixed response from the institutional investors;

FIIs were net sellers of equities worth Rs 397 crore, while

domestic institutional investors were net buyers of equities

worth Rs 287 crores , according to the provisional data

released by BSE and NSE.

STOCK SPECIFIC ACTION

ICICI Bank rose 8.2 % to Rs 693.30.

HDFC Bank rose by 6.8 % to RS 1184.35.

State Bank Of India rose 4.6 % to Rs 1578.80.

DLF rose 7.7 % to Rs 553.15.

Unitech rose 7.7 % to Rs 181.80

Maruti gained 7.4 % to Rs 614.40

Mahindra rose 5.5 % to Rs 548.

Tata Motors rose 3.4 % to Rs 409.05.

Tata Steel fell 2.3 % to Rs 675.95.

Sterlite fell 6.8 % to Rs 581.75.

JSW Steel fell 3.9 % to Rs 836.75.

AUG 5 TUESDAY

SENSEX ENDS LOWER ON PROFIT TAKING.

Weak global markets spurred traders to take profit in blue chips

after 3 consecutive sessions of gains , pushing shares to finish lower

on Monday.The Bombay Stock Exchange's 30 stock sensitive index

or sensex fell 78.82 points or 0.5 % to end at 14577.87 after a

volatile session.The sensex traded between 14503.51and

14725.94.

The index has risen over 6 percent in the last 3 sessions since

July 29.

Participants expect a weak close in the U.S markets overnight

might prompt further profit taking on Tuesday,even though

a sharp fall may be limited as long term investors are

expected to hunt for bargains at every fall

.On the National Stock Exchange , the 50 stock S&P CNX

Niftyfell 18.20 points or 0.4 % to end at 4395.35.

Index heavyweights which have been outperforming

the broader market in their gains during the last

3 sessions, saw maximum profit taking as traders

sold these on hopes ofpicking them back at a lower

price if the markets fall more.

STOCK SPECIFIC ACTION

Reliance industries fell 2.5 % to Rs 2242.50.

Oil and Natural Gas fell 1.5 % to Rs 981.55.

Larsen and Toubro fell 1.3 % lower at Rs 2656.55.

Power utilities which rose on Friday on bargain hunting

after earlier falls, resumed their decline with m0st traders

expecting a slow down in order inflow.

Bharat Heavy Electricals fell 2.4 % to Rs 1714.15.

Reliance Infra structure fell 0.9 % to Rs 1001.60.

NTPC fell 0.9 % to Rs 175.15.

Metal shares gained on extended buying in the sector

on the back of strong first quarter profit growth by

most companies and expectation of price rise due to

firming up of global commodity prices.

Tata Steel rose 1.6% to Rs 691.75.

Hindalco gained 1 % to Rs 142.10

Steel Authority Of India gained 5 % to close at Rs 151.20.