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.