UPDATE AT 1 1AM ON OCTOBER 1, 2008

Key benchmark indices slipped in the red after firm start

as indexheavyweight Reliance Industries and banking pivotals

dropped. TheBSE 30-share Sensex was down 36.12 points. IT

pivotals gained asthe rupee dropped to a fresh five-year low

against the dollar.Larsen & Toubro turned 1:1 ex-bonus from

today. The market breadthwas positive on BSE. Asian markets

were trading mixed today, 1 October 2008. Japan'sNikkei and

Taiwan's Taiwan Weighted Average rose between 0.82% to1.07%.

However, South Korea's Seoul Composite was down 0.35%.Stocks

markets in China, Hong Kong and Singapore were closed today,1

October 2008 for various holidays. At 10:21 IST, the BSE 30-share

Sensex was down 36.12 points or0.23% to 12,831.31. The index shed

70.58 points at the day's low of12,789.85, hit in early trade.

Renewed hopes of the US Senateapproving a $700 billion bank bailout

package to rescue the economytriggered a firm start. The Sensex rose

148.04 points at day's highof 13,008.47, in early trade. The S&P CNX

Nifty was down 30.45 points or 0.78% to 3,890.75. The BSE Mid-Cap

index was up 0.02% at 4,799.20 and the BSESmall-Cap index was up

0.43% at 5,601.55.

TRADING CALLS FOR OCTOBER 1, 2008

Nifty (3921) Sup 3830 Res 4010

Buy ABB (789) SL 781 Target 805, 808

Buy Reliance Infra (790) SL 782 Target 806, 810

Buy NTPC (172) SL 169 Target 178, 179

Sell Fed Bank (206) SL 210 Target 198, 196

Sell CESC (275) SL 279 Target 267, 265

UPDATE FOR OCTOBER 1, 2008

Key benchmark indices are likely to extend gains for the second

straight day today, 1 October 2008 after a stupendous pullback o

n previous day on speculation the Senate will approve a $700

billion bank bailout package to unlock the credit markets and

bolster the global economy. The Singapore Nifty futures (SGX)

trading at over 50 points premium. Meanwhile, India's current

account deficit jumped to $10.72 billion in Q1 June 2008 as compared

to a deficit of $6.3 billion Q1 June 2007, as oil import bill has grown

faster than income from software services exports and remittances

from the Indian diaspora. The current account in the balance of payments

measures the net position of a country's exports and imports of goods

and services. The Indian rupee dropped to a fresh five-year low in early

trade today, 1 October 2008 on worries foreign investors would continue

to sell their local investments amid a spreading global financial crisis. The

partially convertible rupee was at 47.22/23 per dollar, its weakest

since 2 June 2003 and 0.55% lower from yesterday's close of 46.95/96.

Meanwhile, the Bombay Stock Exchange (BSE) will launch exchange-traded

rupee futures today, 1 October 2008. In August 2008, the National

Stock Exchange of India (NSE) kicked off exchange-traded currency

futures trading.

Trading calls on Oct 1 wednesday

1 Buy ITC at CMP Rs 188 ,

for short term delivery ,

Target Rs 205.

MARKET UPDATE FOR 30 SEPTEMBER

The key benchmark indices snapped last three days losses

to postdecent gains today, 30 September 2008. Sensex rose

264.58 points.The barometer index had lost 1,096.77 points or

8% in the pastthree trading sessions to 13,102.18 on Monday,

29 September 2008,from a recent high of 13,692.52 hit on 24

September 2008 Expectations that a revised rescue package for

the US financialsector would be put forward quickly by the US

administration,triggered a recovery on the domestic bourses today

, 30 September2008, after an initial sharp fall that pushed Sensex

to 2-year low.The US House of Representatives on Monday, 29

September 2008,unexpectedly rejected a plan to buy toxic assets

from strugglingbanks that had been designed to revitalise strained

lendingmarkets. US stock futures were trading higher. Nasdaq futures

wereup 32.25 points while Dow Jones futures gained 211 points.

Banking stocks climbed. Index pivotal ICICI Bank rose more than

8%,Tata Consultancy Services rose close to 7%. Bharat HeavyElectricals

and Bharti Airtel rose more than 5% each. Finance minister P Chidambaram

today said Indian banks are wellcapitalised and regulated. He further

added that foreigninstitutional investors are not selling all the time.

MARKET CLOSING UPDATE FOR 29 SEPTEMBER

Stocks fell across the globe on persistent questions on the

effectiveness of the US bailout package and on continued

instability in the global banking sector. The domestic market fell

for the third consecutive trading session with Sensex declining

1,096.77 points in last three sessions. The barometer index today

ended 506.43 points down. The market recovered after witnessing

a sharp intra-day fall. TheBSE Sensex recovered close to 200

points from the day's low. Thebarometer index hit 1-½ year low

and the S&P CNX Nifty hit itslowest level in 17 months in

mid-afternoon trade. The marketbreadth was extremely weak

as selling was witnessed across theboard. ICICI Bank fell more

than 12%. The US lawmakers agreeing on a $700 billion bank-rescue

package andthe House of Representatives approving the nuclear

deal with Indiaover the weekend failed to boost the investor sentiments.

MARKET UPDATE AT 1 PM ON SEPTEMBER 29

Key benchmark indices slumped further in red in afternoon trade.Sensex

lost more than 500 points. Asian and European stocks droppedon

persistent questions on the effectiveness of the US bailoutpackage

and on continued instability in the global banking sector.The barometer

index BSE Sensex today fell below the 13,000 mark. Capital goods and

power stocks declined . ICICI Bank fell more than11% while Jaiprakash

Associates fell more than 12%. RelianceIndustries dropped. The market

breadth extremely weak as sellingwas witnessed across the board. The

US lawmakers agreeing on a $700 billion bank-rescue package andthe

House of Representatives approving the nuclear deal with Indiaover the

weekend failed to boost the investor sentiments. European markets which

opened after Indian markets were down inopening trade. France's CAC 40,

Germany's DAX and UK's FTSE 100were down between 2.53% to 2.88%.

European markets fell as theBelgian, Dutch and Luxembourg governments

were forced to rescuefinancial firm Fortis over the weekend. In addition,

reportssuggest the British government will take over mortgage lender

Bradford & Bingley. Most Asian markets were trading lower today, 29

September 2008.Hong Kong's Hang Seng, Japan's Nikkei, Singapore's Straits

Times,South Korea's Seoul Composite fell between 1.26% 4.07%.

Trading calls Sept 29 monday

1.Buy Dabur India CMP Rs 89 ,

for short term delivery target Rs 98.

INVESTMENT CALL FOR 29 SEPTEMBER

BUY Dabur India CMP RS.89 for short term

delivery target Rs. 98.

WEEKLY UIPDATE ON 29 SEPTEMBER


The upheavels in the global market had the bullsrunning

for cover in the Indian market.Uncertainity over the Bush

government's major rescueplans for the troubled financial

sector kept key indicesunder pressure.Absense of leadership

from index heavyweights , dissapointing rollover of derivative

contract ,and persistent selling by FIIs contributed to the weakness.

BSE closed at 13102 down 6.7 % from last week while theNSE Nifty

lost 6.1 % to close at 3985.Realty stocks were the worst hit with

concerns over slowingdemand and liquidity crunch weighed on

investorsentiment.Banking , Capital goods and Metal stockswere

among the other major losers.Equity markets across the globe

had another dissapointingweek amid worries about the US

Governments $ 700 billion bail out plan for the crumbling financial

system may ger delayed.US authorities sold Washington Mutual

and sold its assets.Drop in the Dollar against the yen and Euro and

volatile crude prices also had a bearing on the sentiment.Technical

Ideas1.Sell HDFC at CMP Rs 2091 and on rallies to Resistence o

f Rs 2100 to 2130 levels for the following targets .a) Rs 2000b)

Rs 1900c) Rs 1800A stop loss below Rs 2190 is recommended for

all short positions.2.Sell Power Finance Corporation at CMP Rs 122and

on rallies to resistence of Rs 125 to 127 levelsfor the following targets

.a) Rs 110b) Rs 100A stop loss above Rs 130.50 is recommended

for shortpositions.Technically strong scrips1. Indus Ind Bank CMP

Rs 572.HUL253 CMP Rs 2533.EID Parry CMP Rs 2124. Cadila CMP

Rs 3295.Colgate CMP Rs 406Technically weak1. Divis lab CMP Rs 13552.

J&K Bank CMP Rs 4493. IOC Rs CMP 3894.Dr Reddy CMP Rs 5165.

Tata Steel CMP Rs 462Buzz on the StreetVideocon starts major restructuring

by cutting down manufacturing locations , trimming work force and pruning

brands.

Buzz on the street.

Videocon starts major restructuring by cutting downmanufacturing

locations , trimming work force andpruning brands.

Tech Mahindra and Tcs eye Flextronics units.RIL may acquire

discovered oil and gas assetsabroad.Valechha E ngineering has emerged

as the lowestbidder for 2 projects worth Rs. 3.5 billion.Balaji Telefilms

may acquire some stake in INX Media's9X Hindi general entertainment channel.

MARKET UPDATE FOR 26 SEPTEMBER

The key benchmark indices ended sharply lower as uncertainty

overthe fate of the US government's $700 billion rescue plan for

thefinancial sector hurt investor sentiment. As per provisionalclosing,

the BSE 30-share Sensex was down 485.64. News of thebiggest ever

US bank failure compounded the bearish sentiments,with the

US government brokering a last-ditch purchase of thriftWashington

Mutual by JPMorgan. All the sectoral indices on BSE, barring the

FMCG index, ended inred. Mid-cap and small-cap stocks, too, witnessed

major sellingpressure. India's largest drug maker by sales Ranbaxy

Laboratoriesslumped. Weak US economic data also weighed on

market sentiments. Datareleased overnight showed US-made durable

goods fell 4.5% in August2008, while sales of new homes in the US

dropped 11.5% during themonth. First-time jobless claims in the US

rose to their highestcount in seven years pointing to a slow down.

Trading calls on Sept 26 Friday

Buy Aban Offshore CMP 2323 for short term delivery

Target Rs 2425.

We expect Indian markets to remain choppy.

DELIVERY CALL FOR SEPTEMBER 25

BUY Jindal Saw CMP Rs.615 for short term

delivery target of Rs.650.

Today we expect the market to have a subdued opening.

MARKET UPDATE FOR 25 SEPTEMBER

Volatility may grip the bourses ahead of expiry of September

2008 derivatives contracts. By Wednesday, 24 September 2008,

roll over in Nifty stood at about 44% from September 2008 contracts

to October 2008 contracts. The government will today, 25 September

2008, release inflation data for 12 months to 13 September 2008, after

market hours. Inflation based on the whole price index rose 12.14% in

12 months to 6 September 2008, marginally above previous week's

12.10% rise. The Dow and the S&P 500 edged lower on Wednesday,

24 September 2008, as uncertainty about when the US Congress might

approve a proposed $700 billion financial sector bailout plan offset

Warren Buffett's $5 billion bet on Goldman Sachs. The Nasdaq edged up,

boosted by tech shares that rose on hopes an eventual bailout would

increase tech spending. Dow shed 29 points or 0.27% to 10,825.17. The

Nasdaq Composite index edged up 2.35 points or 0.11% at 2,155.68. Asian

stocks were mixed today, 25 September 2008. Key benchmark indices in

Japan, South Korea, Singapore and Taiwan were down by between 0.4%

to 1.07%. Key benchmark indices in Hong Kong and China were up by

between 0.4% to 4.2%.

MARKET SUMMARY FOR SEPTEMBER 22

Profit selling coupled with concerns arising from higher crude oilprices

dragged the market lower today, 22 September 2008. The30-share

BSE Sensex provisionally ended 89.55 points lower. All thesectoral

indices on BSE, barring FMCG and metal indices, werenegative.

At 15:30 IST, the crude oil was trading at $106.04 on the New

YorkMercantile Exchange (NYMEX). Asian stocks rose after the

US government proposed a $700 billionplan to solve the world financial

crisis by rescuing banks frombillions of dollars in risky mortgage debt.

Key benchmark indicesin Hong Kong, Japan, China, South Korea, and

Taiwan were up bybetween 0.31% to 7.77%. However, Singapore's

Straits Times was down0.58%.

TRADING CALL AT 3 PM ON 22 SEPTEMBER

SHORT WIPRO OCT FUT CMP RS.416 FOR SHORT

TERM DELIVERY TARGET OF RS.400.

TRADING CALL

1.Buy M&M Cmp Rs 550 , For short term

delivery target Rs 587 .

MARKET UPDATE FOR CLOSING ON SEPTEMBER 17

Intense selling pressure in key index pivotals dragged the keybenchmark

indices lower in volatile trade. The BSE 30-share Sensex,extended losses

for the seventh straight day today, 17 September2008, declining 255.90 points.

The S&P CNX Nifty settled just abovethe psychological 4,000 level. ICICI

Bank shed over 4.5% and Reliance Industries shed over 3%.Sterlite

Industries tumbled a little under 9% and ITC lost over 5%.The market

breadth was weak. All BSE sectoral indices ended in red.

The BSE 30-share Sensex lost 255.90 points or 1.89% at 13,262.90.

The Sensex opened with a upward gap of 101.94 points at 13,620.74,which

is also its day's high so far, boosted by Fed's rescue planfor AIG. At the

day's low of 13,127.96 hit mid-afternoon trade, theSensex lost 390.84

points. The S&P CNX Nifty lost 66.65 points or 1.64%, to settle at

4008.25.At the day's low of 3,974.60, the Nifty lost 100.30 points

inafternoon trade. Nifty September 2008 futures were at a

marginal0.75 premium as compared to spot closing. NSE's futures

& options(F&O) segment turnover was Rs 58,546.48 crore, which

was higherthan Rs 56,509.60 crore on Tuesday, 16 September 2008.

The BSE Sensex has lost 1682.07 points or 11.25% in sevenconsecutive

trading sessions from a recent high of 14,944.97 on 8September 2008.

The barometer index is down 7024.09 points or34.63% in the calendar

year 2008 so far from its close of 20,286.99on 31 December 2007. It

is 7943.87 points or 37.45% below itsall-time high of 21,206.77 struck

on 10 January .

MARKET UPDATE AT 11AM ON SEPTEMBER 17

Key benchmark indices opened higher today, 17 September

2008boosted by the US Federal Reserve's bailout package for

thebeleaguered American International Group (AIG). The Federal

OpenMarket Committee decided to keep its target for the federal

fundsrate at 2%. However fresh selling pulled the bourses in red.

The US Federal Reserve in a meeting on Tuesday, 16 September

2008announced an $85 billion rescue plan to help American International

Group in exchange for a 79.9% stake. The deal would avoid thebiggest

corporate bankruptcy ever and follows a government bailoutof

mortgage lenders Freddie Mac and Fannie Mae earlier this

month IT pivotals were in demand. However Ranbaxy Laboratories


slumpedover 8% and ICICI Bank shed over 4%. The market breadth

waspositive. At 10:21 IST, the BSE 30-share Sensex was down 147.94

points or1.11% to 13,369.06. The Sensex opened with a upward gap

of 101.94points at 13,620.74, which is also its day's high so far. At

theday's low of 13,357.60 hit in early trade, the Sensex lost 161.20points.

The S&P CNX Nifty lost 38.90 points or 0.95% to 4,036.

INVESTMENT CALL FOR 17, SEPTEMBER.

BUY BANK OF BARODA CMP RS.316

FOR SHORT TERM DELIVERY TARGET RS.345 TO

RS.355.

MARKET CLOSING ON SEPTEMBER 16

Frenzied buying in index pivotals coupled with short covering

afterfive straight days of fall helped key benchmark indices erase

sharpearly losses and post marginal gains in highly choppy session.

Higher Dow & Nasdaq futures and crude oil at 7-month low boosted

the sentiment. Index heavyweight Reliance Industries rebounded

sharply from52-week low. State Bank of India (SBI) advanced over

7%. HoweverICICI bank cracked over 5% on high volumes. Crude oil

prices plunged to a seven-month low as turmoil in the USfinancial

system heightened concerns energy demand may slow. USlight crude

for October 2008 delivery fell $3.02 to $92.69 a barrelyesterday,

15 September 2008. Financial turmoil in global markets triggered by

fears of the stateof the US financial system kept Indian bourses depressed

for priorfive straight trading sessions. US investment bank Lehman

Brothersfiled for bankruptcy, American insurer AIG struggled for

survivaland Merrill Lynch was sold to Bank of America. US markets

collapsed on Monday, 15 September 2008 falling the mostsince 11 September

2001 as investors worried about the impact ofthe latest twists in the credit

crisis on the economy and theoutlook for profits. The Dow Jones Industrial

Average plunged504.48 points, or 4.42%, to 10,917.51, the Nasdaq

Composite indexdropped 81.36 points, or 3.60%, to 2,179.91 and the

Standard &Poor's 500 index fell 59 points, or 4.71% to 1,192.70.

European markets which opened after Indian markets were subdued.

Key benchmark indices in UK, Germany and France were down bybetween

0.37% and 1.54%. Asian markets were trading weak today, 16September

2008 as fears of a global financial crisis grippedinvestors across Asia. Key

benchmark indices in China, Japan, HongKong, Taiwan, Singapore, and

South Korea were down by between 1.01%and 6.10%. The BSE 30-share

Sensex rose 19.40 points or 0.14% to 13,550.67 asper provisional closing.

The Sensex opened with a downward gap of479.54 at 13,051.73, also its

day's low. At the day's high of13,556.03 hit in late trade, the Sensex rose

24.31 points. The S&P CNX Nifty rose 11.60 points or 0.28% to 4,084.50

as perprovisional closing. Nifty recovered from a low of 3919.35. At theday's

low, Nifty had lost 153.55. The market breadth was weak on BSE with 1725

shares declining ascompared to 928 that rose. 71 remained unchanged.

MARKET UPDATE AT 11.30 AM SEPTEMBER 16

Key benchmark indices slumped for the sixth day in a row today,

16September 2008, mirroring mayhem in global markets triggered

byfears of the state of the US financial system after Lehman Brothers

filed for bankruptcy, insurer AIG struggled for survival andMerrill Lynch

was sold to Bank of America. Nifty cracked below4,000 in opening trade.

Ranbaxy Laboratories slumped over 5%. Index heavyweight Reliance

Industries hit a 52-week low of Rs 1800 in early trade. Bankingpivotals

saw divergent trend. US markets collapsed on Monday, 15 September

2008 falling the mostsince 11 September 2001 as investors worried

about the impact ofthe latest twists in the credit crisis on the economy

and theoutlook for profits. The Dow Jones Industrial Average plunged

504.48 points, or 4.42%, to 10,917.51, the Nasdaq Composite indexdropped

81.36 points, or 3.60%, to 2,179.91 and the Standard &Poor's 500 index

fell 59 points, or 4.71% to 1,192.70. Asian markets were trading weak

today, 16 September 2008 as fearsof a global financial crisis gripped

investors across Asia. Keybenchmark indices in China, Japan, Hong Kong,

Taiwan, Singapore,and South Korea were down by between 2.07% and

5.95%.

SEPT 16 TUESDAY

Looks like we are set for another bad day, given

the excess of negative factors from the US Financial

system.

TRADING CALL

1.Sell Unitech Fut CMP Rs 144

For short term delivery target Rs 135.

MARKET UPDATE FOR 15 SEPTEMBER

Bears emerged victorious for the fifth consecutive day as

keybenchmark indices posted losses led by weak global cues.

Crude oilat 6-month low below $100 a barrel also failed to

boost sentiment.News that China's central bank has cut interest

rates helped thedomestic bourses cut steep intra-day losses.

Despite the recovery,the market ended the day with heavy losses.

Fears of more foreignfund withdrawals weighed heavily on the

Indian bourses today, 15September 2008, after US investment

bank Lehman Brothers filed forbankruptcy protection, making it

the largest and highest-profilecasualty of the global credit crisis.

The financial upheaval also involved other US institutions. Bank

ofAmerica has agreed to acquire Merrill Lynch & Co for $50 billion

inan all-stock deal that will give the US bank the world's largest

brokerage. Index heavyweight Reliance Industries (RIL) rebounded

aftertouching 52-week low. Maruti Suzuki India staged a sharp

recoveryfrom day's low. Banking pivotals also rebounded from

early lowsafter China's central bank today, 15 September 2008,

cut benchmarklending rates by 0.27%. All the BSE sectoral indices

declined withstocks from IT and real estate worst hit. Shares of

some of theholdings of Lehman Brothers in India as a foreign

institutionalinvestor including its holdings in sub-accounts tumbled.

UPDATE AT 11.30 AM ON 15 SEPTEMBER

Key benchmark indices witnessed a disastrous opening spooked

byreports that the Bank of America struck a $50 billion deal to

buyUS's investment banking major Merrill Lynch. The BSE

30-shareSensex was down 643.32 points. Meanwhile, reports just

filtered inthat US investment bank Lehman Brothers is filing for Chapter

11bankruptcy. Index heavyweight Reliance Industries (RIL) plunged to

52-week lowbelow Rs 1900. IT pivotals were the worst hit in the early

slide,with Satyam Computer Services plunging over 10%. All the

30-membersfrom the Sensex pack suffered losses. Asian markets

were trading lower today, 15 September 2008. Keybenchmark indices

in Taiwan and Singapore fell 4.32% and 3.18%.Most major Asian equity

markets were closed for public holidays.

MARKET OPENING FOR 15 SEPTEMBER

Negative opening likely today.After a lower opening

, the usual short term pullback may be see.

SELL SIEMENS FUT CMP RS.520 , FOR SHORT TERM

DELIVERY TARGET RS.475.

MARKET UPDATE AT 11AM

Key benchmark indices opened on a positive note on fall ininflation

for a third week in a row. But the market soon dippedinto red due

to heavy selling in IT stocks. The BSE 30-share Sensexwas down

133.95 points. Infosys fell more than 5%. The marketbreadth was

positive. Asian markets which opened before Indianmarkets were


in green. The wholesale price index-based inflation rose 12.10% in

the weekended 30 August 2008, below the previous week's annual rise

of12.34%, government data released after market hours on Thursday,

11September 2008 showed. The annual inflation rate was 3.72% during

the corresponding week of the previous year. The government will

today, 12 September 2008, release theindustrial production data for

July 2008. The data is expected atabout 12:00 IST. At 10:23 IST, the

BSE 30-share Sensex was down 133.95 points or0.94% to 14,190.34. At

the day's low of 14,178.22 hit in earlytrade Sensex fell 146.07 points. At

the day's high of 14,433.20 hitin early trade, the Sensex rose 108.91 points.

The S&P CNX Nifty slipped 14.80 points or 0.34% to 4,275.50. The

market breadth was positive on BSE with 921 shares advancing

ascompared to 547 that declined. 62 remained unchanged.

INVESTMENT CALL FOR SEPT 12

BUY IDFC CMP RS.92FOR SHORTTERM DELIVERY TGT

RS.105. WELL WE HAVE ENOUGH OF WEAKNESSFOR

SOME TIME AND BULLS ARE WAITINGFOR SOMEEXCUSE

TO LIFT THEMSELVES.

INVESTMENT CALL AT 3 PM ON 11 SEPTEMBER

BUY HINDUSTAN UNILEVER CMP 246 FOR SHORT TERM

TARGET RS.265.

MARKETS AT 3.15 PM SENSEX DN 330 PTS

AT 14332 , NIFTY DN 108 PTS AT 4292.

SEPT 10 WEDNESDAY

Trading calls for the day

1.Buy Jindal Saw Cmp Rs 603 ,

For short term delivery ,

Target Rs 640.

SEPT 10 WEDNESDAY

PROFIT BOOKING IN BANK STOCKS

A fall in crude oil prices and positive European markets

helped pare some losses in shares , which ended lower

on Tuesday in line with its Asian peers and dragged by

profit booking in banks.

The Bombay Stock Exchange's sensex lost 44.21 points

or 0.3 % to 14900.76 .

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

Nifty declined 13.60 points or 0.3 % to 4468.70.

Banks ended lower as funds cashed out after a steep

recent rally .

The BSE 18 stock Bankex index fell 1.3 % to 7368.33.

LOSERS OF THE DAY

ICICI Bank declined 1.1 % to Rs 712.85.

State Bank Of India lost 2 % to Rs 1560.55.

Punjab National Bank ended 3.6 % lower at 498.85.

Bharat Heavy Electricals lost 2.4 % to Rs 1746.95.

Tata Power fell 1.3 % to Rs 1086.50.

Sterlite slumped 7.5 % to Rs 575.70

GAINERS OF THE DAY

Bharati Airtel gained 2.1 % to Rs 836.45

Reliance communication rose 1.7 % to Rs 2142.85

Maruti Suzuki rose 2.1 % to Rs 708.20.

SEPT 9 TUESDAY

INVESTORS RUSH FOR POWER STOCKS.

NSG clearence to India to pursue nuclear commerce with

nuclear fuel and technology rich nations led investors to

rush for power company stocks on Monday.

Acoording to a report brought out by Assocham

india's nuclear power has the potential of attracting

investments worth 2 lakh crore in 15 years.

Power producig and equipment manufacturing

companie's stocks moved up soon after the market

opened up in the morning.

BSE Power index closed 3.36 % up.

Public sector company Power Grid gained 5.11 %.

The largest PSU power producing company NTPC

gained 4.58 %.

Reliance infrastructures gained 4.19 % .

Reliance Power gained 3.71%

GVK Power gained 3.06 %.

Tata Power gained 1.90 %.

GMR Infrastructure was up 1.80 5.

Shares of power equipment manufacturers also

gained.

BHEL was up 3.40 %.

ABB was up 2.40 %.

Crompton was up 3.38 %.

TRADING CALL ON SEPT 5 FRIDAY

1.Buy RPL @ Rs 154

Stop loss Rs 154

for a target of Rs 180 in 2 to 3 days

Markets at 226 PM

Sensex down 437 points at 14461

Nifty down 103 points at 4345.

TRADING CALLS ON SEPT 5 FRIDAY

1.Sell Unitech Future CMP Rs 165

For short term delivery

Target Rs 155.

Gap down opening likely.

SEPT 5 2008

SENSEX FALLS ON CRUDE AND INFLATION CONCERN

Shares ended lower on Thursday on profit

taking amid today's rise in crude oil prices and

expectation of a higher inflation rates

The Bombay Stock Exchange's 30 stock

sensitive index fell 150.76 points or 1 % to

14899.10.

On the National Stock Exchange the 50 stock

S&P Nifty lost 56.25 points or 1.3 % to

4447.75.

LOSERS OF THE DAY

Reliance Industries and ONGC led the fall.

Reliance industries declined by 2.8 %to Rs 2152.65.

ONGC fell 3 % to Rs 1068.85.

Larsen and Toubro fell 0.3 % to Rs 2671.75.

Bharati Airtel fell 1 % to Rs 826.65.

MARKET UPDATE

BUY ASHOK LEYLAND CMP RS.32 FOR SHORT TERM

DELIVERY TARGET RS.38.

MARKETS AT 3 PM

SENSEX DN 135 PTS AT 14913

NIFTY DN 53 PTS AT 4451

SEPT 4 THURSDAY

1.Buy Bharati Airtel CMP Rs 835

For short term delivery

Target Rs 875.

TRADING CALLS ON SEPT 2 2008.

Buy Mindtree at Rs 353,

Short term delivery

Target of Rs 400.

Markets at 12.45 Pm

Sensex up 203 points at 14700.

Nifty up 61 points at 4409.

MARKET UPDATE AT OPENING ON SEPT 2, 2008

The market may edge higher following a sharp fall in oil prices.

However, subdued trend in Asian stocks may cap gains. Traders may

refrain from building large positions ahead of a market holiday tomorrow

, 3 September 2008. The market remains closed tomorrow on account

of Ganesh Chaturthi. Oil extended losses toward $111 a barrel on Tuesday,

2 September 2008, after Hurricane Gustav eased before slamming into

the US Gulf Coast, pushing up the US dollar to a 7-month high against

the euro and causing a broad sell-off of commodities. Asian stocks were

mostly in the red today, 2 September 2008. Key benchmark indices in

Hong Kong, China, South Korea, Singapore and Taiwan were down by

between 0.04% to 1.62%. Japan's Nikkei was up 0.5%. US markets

were closed on Monday, 1 September 2008, for Labour Day holiday.

SEPT 2 TUESDAY

Today we expect Mondays late recovery to continue

in opening trades and then choppy .

Buy Punj Lloyd Cmp Rs 310

For short term delivery

Target Rs 335.

MARKET CLOSING ON 1 SEPT, 2008

The key benchmark indices staged a sharp recovery from

lower levelin the fag end of the trading session led by rebound

in bank sharesand select pivotals. The 30-share BSE sensex

recoupled 253 pointsfrom the day's low it had hit in afternoon trade.

As per provisional closing, the BSE 30-share Sensex was down

29.63points or 0.20% to 14,534.90. At day's low of 14,281.10, the

indexfell 283.43 in early afternoon trade. At day's high of 14,547.41,the

Sensex shed 17.12 points at the fag end of the trading session. The S&P

CNX Nifty was up 0.55 points or 0.01% to 4360.55. It cameoff

session's low of 4281.35 The BSE Mid-Cap index was up 0.05% at

5,745.27 and the BSESmall-Cap index was up 0.01% at 6,892.60. The

market breadth was weak on BSE with 1338 shares advancing ascompared

to 1245 that declined. 93 shares remained unchanged.

UPDATE AT 2 PM ON SEPT 1, 2008

BUY UTV SOFTWARE AT RS. 798 FOR A SHORT TERM

DELIVERY TARGET RS.860.

MARKETS AT 2.20 PM;

SENSEX DOWN 172 PTS AT 14392

NIFTY DOWN 44 PTS AT 4315.