AUG 21 FRIDAY

INVESTMENT CALL

Buy KS Oil Cmp Rs 68.25 , For a target of Rs 90

In 3 weeks time.

Markets at 3.05 Pm

Sensex up 178 Points at 14420.

Nifty up 50 Points at 4333.

MARKET UPDATE

MARKET UPDATE AT 11.30 AMON 22AUGUST

Key benchmark indices staged a comeback from early lows

asheavyweights rebounded. A rally in crude oil prices weighed

on thesentiment in opening trade. Global cues were mixed.

Banking sharesgained as the weekly inflation figure was in line

with marketexpectation. The wholesale prices index rose 12.63%

in the year through 9 August2008, up from the previous week's 12.44%

rise, data released by thegovernment after trading hours on

Thursday, 21 August 2008, showed. As per reports, nuclear supplier

nations at a meeting in Vienna onThursday, 21 August 2008, proposed

conditions for lifting a globalban on fuel and technology exports to India,

a step required toimplement a US-India nuclear cooperation deal. A green

light fromthe 45-nation Nuclear Suppliers Group is needed for the deal

toproceed to the US Congress for final ratification. At 10:25 IST, the BSE 30-share

Sensex was up 5.56 points or 0.04%to 14,247.89. It had opened 90.34 points lower

at 14,153.39 andslipped further to a low of 14,136.86 in early trade. At the day'slow

hit in early trade, the Sensex lost 106.87 points. At the day'shigh of

14,298.16 points hit in early trade, the Sensex gained54.43 points. The S&P

CNX Nifty was up 1.15 points or 0.03% to 4,285.10 The market

breadth was weak on BSE with 754 shares declining ascompared to 602

that advanced. 36 remained unchanged. The total turnover on BSE

amounted to Rs 405 crore Among the 30-member Sensex pack,

21 slipped while the rest themgained. India's largest aluminium and

copper producer Hindalco Industriessurged 3.41% to Rs 133.45 on

1.46 lakh shares. It was the topgainer from Sensex pack.

MARKET SUMMARY

MARKET SUMMARY FOR 21 AUGUST

Bears were in command on the bourses as caution

prevailed ahead ofthe weekly inflation data to be

released by the government afterthe trading hours today,

21 August 2008. Rate sensitive realty andbanking stocks

were clobbered. Weak Asian markets also weighed on the

sentiment. Chinese market declined after yesterday's

steeprise. State Bank of India fell more than 7%. HDFC

Bank, NTPC and DLF fellmore than 5.5% each. Reliance

Infrastructure and ICICI Bank fellmore than 5% each.

A key event today is the Nuclear Suppliers Group (NSG)

meet inVienna. The United States is set to push the

45-nation NuclearSuppliers Group (NSG) to agree on a

landmark nuclear deal withIndia despite objections at

home and reservations abroad. The BSE 30-share

Sensex lost 434.50 points or 2.96% to 14,243.73.At

the day's low of 14,201.18, the Sensex lost 477.05 points

inlate trade. At day's high of 14,646.98, the index lost

31.25 pointsin early trade. The S&P CNX Nifty was

down 131.90 points or 2.99% to 4,283.85.

market update

MARKET UPDATE AT 2PM, AUGUST 21,2008.

Key benchmark indices continued downward jouney

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 Bank fell more

than 4%. Weak Asian markets also weighed on the

sentiment. 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 or

2.31% 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.

market update

MARKET UPDATE

MARKET UPDATE AT 11AM 0N 21AUGUST

Local benchmark indices are headed for a volatile trading

session today, 21 August 2008 ahead of the release of

inflation data for the year through 9 August 2008. The

data will be released after trading hours today, 21 August

2008. Global cures were mixed. Inflation as measured by

wholesale price index rose 12.44% in the week to 2 August

2008, a 16-year high propelled by rise in the cost of pulses,

fruits, spices and aviation turbine fuel. Inflation is expected

to accelerate further after the Prime Minister Manmohan

Singh's cabinet on 14 August 2008 approved an average

21% salary increase for about 50 lakh government

employees. The higher wages will cost the government

Rs 3.38 lakh crore this year. Another key event is the

Nuclear Suppliers Group (NSG) meet scheduled today,

21 August 2008. The United States is set to push the

45-nation Nuclear Suppliers Group (NSG) to agree on

a landmark nuclear deal with India despite objections

at home and reservations abroad. Light, sweet crude

for September delivery rose 45 cents to $114.98 a

barrel yesterday, 20 August 2008, on the New York

Mercantile Exchange (NYMEX), on fresh supply

concerns after key producer Venezuela indicated

it could ask organisation of petroleum exporting

countries (OPEC) to cut output. Asian markets

were trading lower today, 21 August 2008.

China's Shanghai Composite fell 1.44% or 36.36

points at 2,486.91, Japan's Nikkei slipped 0.35% or

44.56 points at 12,807.13, Hong Kong's Hang Seng

plunged 1.48% or 309.44 points at 20,621.82, Taiwan's

Taiwan Weighted tumbled 1.12% or 78.95 points at

6,961.95, Singapore's Straits Times was down 0.70%

or 19.31 points at 2,732.44, and South Korea's Seoul

Composite lost 1.21% or 18.65 points at 1,522.06.

MARKET SUMMARY UPDATE

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

off from a intra-day high hit in late trade. Asian stocks

rebounded from a two-year low as Chinese shares surged

on 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 late trade.

At the day's low of 14,584.03, the Sensex was up 40.30

points in mid-morning trade. The S&P CNX Nifty rose

47.50 points or 1.09% to 4,415.75.

MARKET SUMMARY UPDATE