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.