Sensex gains 137 points on global support: Ansal Buildwell Ltd and Vamshi Rubber Ltd came up with wonderful results for the June, 2007 quarter: Rolta Ltd recommended at Rs.139, is nearing Rs.500: Cummins India Ltd will also gain momentum in the days ahead: Dow and Nasdaq butchered; Wall Street plunged anew Friday, hurtling the Dow Jones industrial average down more than 280 points after comments from a Bear Stearns executive reinvigorated the market's fears of a widening credit crunch, confirming my view of not to venture into the markets, this week:I might recommend a scrip to the Premium Members first and then to the free group, if the market looks conducive for investment in the next week:

The market extended its gains for second consecutive day, after Wednesday’s bloodbath that was triggered by setback in global markets. The market saw steady buying interest throughout the day, on sustained buying demand for index pivotals. Positive cues from US and Asian markets boosted the sentiment. All the sectoral indices on BSE posted gains. Shares from real estate, banking and cement were in demand. Pharma shares were subdued. The BSE 30-share Sensex rose 136.94 points or 0.91% to 15,122.65, as per provisonal closing. It opened with an upward gap of 75.43 points at 15,061.13 and surged to a hit an intra-day high of 15,235.51 The market breadth was strong with small-cap and mid-cap stocks seeing buying interest. On BSE, there were close to 1.5 gainers for every loser: 1,581 shares advanced as compared to 1,081 that declined, while 73 remained unchanged. The total turnover on BSE amounted to Rs 3981 crore as compared to Rs 2878 crore by 14:30 IST. The turnover was lower today. Among the 30-member Sensex pack, 23 advanced while 7 slipped. India’s largest commercial bank State Bank of India (SBI) rose 2.53% to Rs 1633, on 7.05 lakh shares, after gaining 2.95% on Thursday, 2 August 2007. It was the top gainer from the Sensex pack SBI is holding talks with potential partners for its non-life insurance venture. It is keeping options open for going alone in the general insurance business. The bank plans to set up a holding company to transfer its share holding in its insurance and asset management subsidiaries. The new holding company, valued between $5 billion to $7 billion, would eventually be listed. Other banking scrips also posted gains after the release of inflation data in afternoon today, 3 August 2007. The wholesale price index was 4.36% in the week to 21 July 2007, compared with 4.41% the previous week The government also revised the inflation rate for the week ended 26 May 2007 to 5.15% from 4.85%. Dena Bank (up 1.16% to Rs 52.40), Oriental Bank of Commerce (up 1.67% to Rs 231.50), Punjab National Bank (up 0.40% to Rs 498), Bank of India (up 0.52% to Rs 243.90), Bank of Baroda (up 1.53% to Rs 296), Axis Bank (up 0.25% to Rs 622) and ICICI Bank (up 1.73% to Rs 915.95) gained. India’s largest power generation firm NTPC soared 2.50% to Rs 166.35. Chhattisgarh State Electricity Board (CSEB) has made a written offer to NTPC to set up three mega power projects in the state in a joint venture. The plants will come up at Aklatra, Lara and Godna hamlets in Raigarh district. NTPC and the CSEB will have equity ratio of 74-26% ,while the production share will be in ratio of 51-49%. Cement stocks gained for the second consecutive day as buying continued in anticipation of firm cement prices. India’s second largest cement producer ACC surged 1.72% to Rs 1000. It gained 2% yesterday, 2 August 2007 after its cement dispatches jumped 14.68% to 16.4 lakh tonnes in July 2007 over July 2006. Grasim gained 2.07% to Rs 2968.95 while UltraTech Cement rose 0.67% to Rs 905.10. The Aditya Birla Group said on Wednesday its cement shipments rose 13.1% to 24 lakh tonnes in July 2007 over July 2006. Grasim and UltraTech Cement belong to the Aditya Birla Group However, Ambuja Cements lost 1% to Rs 129 on profit booking. Its cement dispatches rose 20% to 13.9 lakh tonnes in July 2007 over July 2006. Interest-rate sensitive auto shares hardened on a view that interest rates will remain steady with inflation under control. Mahindra & Mahindra (up 0.44% to Rs 678.80), Maruti Udyog (up 1.40% to Rs 848), Bajaj Auto (up 1.63% to Rs 2330) and Tata Motors (up 0.69% to Rs 656.70) logged gains. Reliance Industries (RIL), the country’s largest private sector company, slipped from day’s high of Rs 1838.90, and settled unchanged at Rs 1801.30, on 10.63 lakh shares. As per reports, the government is likely to clear the price quoted by RIL for its gas from the Krishna-Godavari basin without seeking to control the price. IT pivotals posted modest gains. Second biggest software services exporter Infosys rose 0.97% to Rs 1918 on reports that it has signed a multi-year agreement with Canadian Pacific (CP) to provide modular global sourcing services. Satyam Computers (up 1.20% to Rs 471.80) and Wipro (up 1.48% to Rs 469.10) gained. However, India's largest software services provider TCS lost 0.12% to Rs 1094. India’s biggest housing finance company HDFC rose 1.69% to Rs 1978 on reports that it has shortlisted three foreign firms for a stake in its insurance venture and will select one of them within 15 days. HDFC Chairman Deepak Parekh told shareholders last month that foreign firms were willing to pay a premium for the stake in the insurance company. Pharma shares dipped on selling pressure. Dr Reddy’s was the top loser from the Sensex pack. It slipped 1.10% to Rs 624 on 89,870 shares. Ranbaxy Laboratories lost 0.93% to Rs 368. However Cipla gained in fag end of the and was up 0.70% to Rs 187.15, from its low of Rs 184. Simplex Projects settled at Rs 272.05 on BSE, a premium of 47% over IPO price of Rs 185. The stock had hit a low of Rs 266.70 and a high of Rs 323.75. On BSE, 67.19 lakh shares had changed hands in the counter on BSE. Simplex Projects IPO had received overwhelming investor response. The IPO was subscribed 85.53 times Battered real-estate stocks, the worst hit in Wednesday, 1 August 2007's market meltdown, gained for the second straight day today on bargain hunting. Unitech (up 0.84% to Rs 536.10), DLF (up 2.22% to Rs 599.70), Orbit Corporation (up 10.20% to Rs 369.50) and Indiabulls Real Estate (up 4.59% to Rs 536) edged higher. Most of the Asian indices advanced, 3 August, reacting to a US rally. Taiwan's Taiwan Weighted (up 1.20% at 9,058.23), Hong Kong's Hang Seng (up 0.42% at 22,538.44), Shanghai Composite (up 3.47% to 4,560.74) and South Korea's Seoul Composite (up 1.28% at 1,876.80) advanced. However, and Japan's Nikkei slipped marginally by 0.03% at 16,979.86 European shares slipped after firm opening today, 3 August 2007. Wall Street shares advanced after solid readings on corporate earnings and the job market calmed some of investors' anxiety about a tight credit market. The Dow rose 100.96 points, or 0.76, to 13,463.33. The Standard & Poor's 500 index picked up 6.39 points, or 0.44%, closing at 1,472.20, while the Nasdaq Composite index rose 22.11 points, or 0.87%, to 2,575.98. As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 537.37 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 282.57 crore on Thursday, 2 August 2007. Oil hovered near $77 a barrel on Friday, 3 August 2007 keeping in sight of this week's fresh record high after OPEC officials poured cold water on US hopes for an output rise, reiterating that the world was not short of crude supplies. US oil was unchanged at $76.86 a barrel. Prices touched an all-time high of $78.77 on Wednesday, but sharply retreated on signs of improved US refinery operations.

Stocks Fall Sharply Amid Credit Fears:Stocks Fall Following Concerns About Credit, Weaker-Than-Expected Economic Readings:

Friday August 3,

NEW YORK -- Wall Street plunged anew Friday, hurtling the Dow Jones industrial average down more than 280 points after comments from a Bear Stearns executive reinvigorated the market's fears of a widening credit crunch. The drop of more than 2 percent in major stock market indexes was a fitting end to two volatile weeks on Wall Street and followed back-to-back late-day triple digit gains in the Dow. This time, the catalyst for a sharp skid was Bear Stearns Cos. Chief Financial Officer Sam Molinaro, who described turmoil in the credit market as the worst he'd seen in 22 years. According to preliminary calculations, the Dow fell 284.84, or 2.12 percent, to 13,178.49. Broader stock indicators also fell. The Standard & Poor's 500 index dropped 39.39, or 2.68 percent, to 1,432.81, and the Nasdaq composite index fell 64.73, or 2.51 percent, to 2,511.25. The session also saw a notable rise in the bond market, as investors fled to the relative safety of fixed-income investments. The yield on benchmark 10-year Treasury note fell to 4.70 percent from 4.77 percent late Thursday. Bond prices move opposite yields. Stocks started the day with a decline after the government said jobs growth was not as strong as expected last month and a trade group reported that the nation's service sector grew at a slower pace than expected in July. Then, credit concerns, which have dogged investors for months and have roiled markets since last week, weighed on investor sentiment again; Standard & Poor's Ratings Services lowered its credit outlook on Bear Stearns Cos. to negative from stable because of the investment bank's exposure to the distressed mortgage and corporate buyout markets. The stock fell $6.84, or 5.9 percent, at $108.79. "I think there is a tremendous amount of uncertainty with regard to the credit markets and how the situation will ultimately settle," said Mike Malone, trading analyst at Cowen & Co. Investors remain worried that problems in subprime mortgages -- those made to borrowers with poor credit histories -- will force lenders to make credit less available. When people and companies can't borrow money as easily, the economy tends to slow down. "There is not going to be one sort of clear signal that suggests everything is OK," Malone said, referring to the subprime worries. "I think it's going to take time and the equity markets are going to experience heightened volatility." Investors could be in for more volatility in the coming week, which not only includes economic figures on productivity and consumer credit, but also brings a meeting of the Federal Reserve's Open Market Committee, which has left short-term interest rates unchanged for the past year. Investors will likely be looking to its statement following its meeting for any word on the mortgage and credit markets. The unease over the mortgage market and tightening credit Friday again dragged down financial stocks, which have been hard hit in recent weeks. Lehman Brothers Holdings Inc. fell $4.67, or 7.7 percent, to $55.78; its previous 52-week low was $58.85. Merrill Lynch & Co. fell $2.52, or 3.5 percent, to $70.03. During the session the stock fell below its previous 52-week low of $69.14.

Note: The "Introductory Offer" for the Premium (Paid) membership Closes, on or before 15th August, 2007 [15-08-07]. So, interested persons should rush me an e-mail for the details at: suman2005s@rediffmail.com