Indian Market Update 4/3/2007

Sensex and Nifty advanced higher after yesterday's carnage, making modest recovery. Today's start was a little tentative but picked up later. However midcap and smallcaps underperformed the broader markets and the overall volumes were low. The Asian markets ended positive. Technology is leading the uptrend followed by power, capital goods and FMCG. BHEL came out with results which were inline with expectations on the bottomlie and topline numbers were above expectations.

Sensex closed up 169.21 points or 1.36% at 12624.58, and the Nifty up 57.05 points or 1.57% at 3690.65.

About 1356 shares have advanced, 1028 shares declined, and 88 shares are unchanged.

BHEL, NTPC and Hero Honda were the top gainers on the Sensex

The BSE Midcap Index ended at 5,236.36 up 27 points or 0.52%.

The BSE Smallcap Index ended at 6,313.64 up 20 points or 0.3%.

The BSE Bankex was up 0.5% at 6,182.44. Bank of India, Oriental Bank, IOB, Federal Bank, Bank of Baroda
moved upwards.

The BSE Capital Goods Index was up 1.1% at 8,718.07. Aban Offshore, BHEL, Bharat Elec, Praj Industries, Alstom Projects closed higher.

The BSE Health Care Index was up 0.6% at 3,574.65. Sterling Bio, Glenmark, FDC, Pfizer closed higher.

The BSE Auto Index closed at 4,612.32 up 0.9%. Exide Industrie, Hero Honda, Sundaram-Clayto, Sundram, Tata Motors surged.

The BSE Metal Index closed at 8,219.63 up 1%. SAIL, Guj NRE Coke, Sesa Goa, Sterlite Ind, Tata Steel advanced higher.

The BSE FMCG Index gained 1.3% at 1,713.62. Nestle, HLL, ITC, Shaw Wallace closed higher.

BSE Oil and Gas Index closed higher at 6,287.21 up 1.9%. GAIL, Reliance, ONGC, Chennai Petro ended in green.

The BSE IT Index gained 2% at 4,766.97. Wipro, Satyam, HCL Tech, Infosys, TCS closed higher.

The NSE cash turnover was at Rs 6729.28 crore and the NSE F&O turnover was at Rs 23350.93 crore. The BSE cash turnover was Rs 2881 crore.

Total market wide turnover was at Rs 32961.21 crore.