Sensex, Nifty strike all time highs: My morning call on Shree Ganesh Forging Ltd sees it hit the buyer freeze: Premier Explosives Ltd comes out with not so impressive results for the March, 2007 quarter, though the dividend part is quite attractive. The management did not inform either the BSE or the Media, that one of its plants was not working during the preriod concerned. This obviously raises question about the quality of management it has and is comparable to G M Breweries Ltd, in this regard: There is no stopping of Tilaknagar Industries Ltd(recommended at Rs.42-Rs.45 range) and Pioneer Distillaries Ltd(recommended at Rs.17): Paramount Communications Ltd (Recommended at Rs.28--Rs.29 range) after a long time crosses Rs.37: Jai Parabolic Springs Ltd is all set to move up, as Jamna Auto Ltd is all set to cross Rs.70, soon. It is one of the largest Auto Companies in Asia, and have huge hidden value: I might recommend a scrip tomorrow or on Thursday at around 10.30 a.m. for the short term, keep the cash ready:

The market stayed firm throughout the day as buying continued for the fourth straight session. It had opened strong, tracking firm global equities. The sentiment has been lifted by data on 29 June 2007 showing fall in inflation to a 14-month low. Banking, telecom, FMCG, and construction stocks led today's surge. All the sectoral indices on BSE settled with gains, except BSE Consumer Durables index. The BSE 30-share Sensex gained 141.34 points to 14,805.60, as per provisional close. The barometer index opened higher at 14,720 (also its low for the day) and surged to strike a record high of 14,828.39 at 15:06 IST as buying momentum intensified. It oscillated in a range of 108.39 points in the day. The S&P CNX Nifty rose 43.20 points to 4,356.95.30, as per provisional close. It opened higher at 4,315.05 and surged to an all time high of 4,363.35, in late-afternoon trade, surpassing its previous all time high of 4,362.95, struck on 4 June 2007. The market breadth was positive on BSE with 1,444 shares advancing as compared to 1,223 shares that declined, while 64 remained unchanged. Among the Sensex pack, 20 advanced while the rest declined. Telecom pivotals advanced on fresh buying, in anticipation that these companies would announce robust subscriber additions for the month of June 2007. Bharti Airtel surged 3.31% to Rs 865.05, on 3.77 lakh shares. It was the top gainer from the Sensex pack. Reliance Communications gained 1.30% to Rs 537.10 FMCG major Hindustan Unilever surged 3.04% to Rs 194.80, while diversified major Grasim surged 3.30% to Rs 2704.50 State Bank of India (SBI), the country's largest commercial bank, advanced 3.03% to Rs 1,577.25. The scrip hit a high of Rs 1,590.95, which is a lifetime high for the counter. Nearly 10.01 lakh shares changed hands on the counter on BSE. As per reports, SBI would soon enter seven new business streams including pension funds to tap emerging opportunities. The bank will float a subsidiary to manage pension funds under the New Pension Scheme (NPS) for government employees. The bank also proposes to launch financial planning and advisory services given the growing affluent class. This would be upgraded to wealth management at a later stage. In addition to the life insurance business, the bank, with its large branch network, is looking into the general insurance business. Index heavyweight Reliance Industries (RIL) was up 1.26% to Rs 1,705.80, on 6.69 lakh shares. The Committee of Secretaries (CoS), which met on Monday 2 July 2007 to decide on the issue of gas pricing from RIL’s D6 fields in the Krishna-Godavari (K-G) basin, has asked the power and fertiliser ministries to present their views before the committee on 5 July 2007. No decision was taken in the meeting even as the petroleum ministry pitched for a market-determined price of gas produced from NELP blocks. Reliance Energy (REL) slipped 2.04% to Rs 611.55, on 2.05 lakh shares, and it was the top loser from the Sensex pack. REL’s wholly owned subsidiary Rosa Power Supply, on 26 June 2007, tied up long-term loans of around Rs 2,000 crore for the first stage of its 600 meg watt (MW) power project. Bajaj Auto declined 1.89% to Rs 2,089. Bajaj Auto's sales dipped 12% in June 2007 over June 2006. The announcement was made by the company on Sunday, 1 July 2007. Hero Honda Motors declined 0.98% to Rs 684 after it reported 8.4% decline in sales to 2.55 lakh units in June 2007. The announcement was made by the company after trading hours on Monday, 2 July 2007 Housing finance major HDFC recovered sharply from its low of Rs 1968, but it still ended 0.53% lower at Rs 2,020. ONGC slipped 1.11% to Rs 886.15, as it sharply cut gas reserve estimates at one of its blocks in the Krishna Godavari Basin. Reportedly, ONGC has sharply cut gas reserve estimates at one of its blocks in the Krishna Godavari Basin. The block is estimated to have 2.38 trillion cubic feet (TCF) of in-place gas reserves, much lower than its earlier estimate of 21 TCF. Akruti Nirman (up 20% to Rs 402.20), Berger Paints (up 15.85% to Rs 55.55), Nicco Corporation (up 9.90% to Rs 31.10), Indus Fila (up 13.65% to Rs 191.60), Paramount Communications (up 14.25% to Rs 38.45), and Swaraj Engines (up 11.47% to Rs 205.05) surged from the small-cap and mid-cap segments. As per provisional data, FIIs were net buyers of Rs 95-crore equities on Monday, 2 July 2007. Domestic institutions were net sellers of Rs 87-crore equities on that day. The next major trigger for the market is Q1 June 2007 result of IT bellwether Infosys on Wednesday, 11 July 2007. A Q1 results preview by Citigroup states that downward revision in EPS guidance for FY 2008 (year ending 31 March 2008) by Infosys cannot be ruled out given a surge in the rupee against the dollar in Q1 June 2007. Citigroup, however, expects an upward revision in revenue guidance in dollar terms from the IT bellwether. All the Asian indices were trading higher today, Tuesday, 3 July 2007, led higher by energy companies as oil and base metals rose. But the dollar sagged on expectation that US rates will remain steady while borrowing costs rise elsewhere. Nikkei 225 (up 0.02% to 18,149.90), Hang Seng (up 1.74% to 22,151.14), Seoul Composite (up 1.93% to 1,805.5), Taiwan Weighted (up 0.63% to 8,996.20) and Straits Times (up 0.54% to 3,569.34) edged higher. China's Shanghai Composite was up 1.65% to 3,899.74 A majority of European indices were trading higher US stocks rallied on Monday, 2 July 2007, on a fresh bout of takeover activity as Canada's largest telephone company BCE Inc. agreed to a US$32.6 billion buyout. On Wall Street, blue-chip stocks and the Nasdaq Composite Index both rose about 1%. Crude oil was little changed on Tuesday, 3 July 2007, in New York after rising to a 10-month high yesterday on speculation U.S. refiners may boost processing to restore gasoline supplies. Crude oil for August delivery was at $70.86 a barrel, down 23 cents, in after-hours electronic trading on the New York Mercantile Exchange in Singapore