WINNING STROKES: THINK DIFFERENT:

The following message (excerpts) is sent to the Paid Group yesterday morning.......The market traded with a negative bias yesterday.......It was a volatile session as Nifty traded both sides. However.........Market is expected to trade with a negative bias today and any rally may be an exit opportunity. Area of 6000-6025-6050 continues to act as major resistance. Long positions should be avoided.......In ability to cross ........in trend. Rally of more then 300 points from the low of 5690 shows nothing but 50% upward correction of the major fall from 6350 level. So I am pretty right since the last few months. 

Kohinoor Broadcasting Corporation Ltd is giving opportunity to accumulate. Those who have purchased the share at high price should average the scrip at the CMP of Rs.2.13, so that their average price comes down to as low as possible. I can guarantee return in the scrip, like I guaranteed return in Sanguine Media Services, Avon Corporation Ltd, Ennore Coke Ltd, Sarda Energy Ltd, Atlanta Ltd, BGR Energy Ltd, Yes Bank Ltd, DCB Ltd, Hanung Toys Ltd, Reliance Industrial Infra, Reliance Media Services Ltd, and a host of them. I will soon present a list in the blog which will be kept permanently so that SOME CHEATS WHO ARE NOT ABLE TO COMPETE WITH ME, as I have more than 90% accuracy, are taught lesson. If anyone has any confusion regarding my recommendations, they can visit SumanSpeaksPlus, who URL: www.sumanspeaksplus.blogspot.com. Also, no need to reply to what is being written in MMB--just ignore. I am happy to note that a group of thugs are indirectly promoting me and my blog to such an extent that the hits have become more than double in the last few months. All these poor fellows are not able to compete with me, regarding Paid Service and are now  bent on writing false data against me to get clients--what an irony. Someone wrote on MMB, "Suman Mukherjee is useless now", but only some weeks back people got huge returns from Avon Corporation Ltd and XL Energy Ltd. Last month they  got good returns from Sanguine Media. In earlier months they got returns from so many scrips. But these people will write false data, because they are not able to generate clients. I have never ever in my life run after getting Paid Clients but these people always say, "Join Paid Service" in every mail they send. Now you can  understand the logic. Also, if my contents are useless, why do I get so many appreciation mails every week or why does people visit my blog?? Those fools must answer these questions!! Someone said, "SumanSpeaks" is not a source--as if his father/father-in-law, did research on Kohinoor Broadcasting Corporaiton Ltd. Another joker wrote, "Oh Kohinoor Broadcasting now has a CA"--as if he heard this for the first time....Don't know how this "breast feeding baby" came crawling down straight to MMB...Another IDIOT had some "FUCKING PROBLEM" when I wrote about "Cheating through Maid Services (or by Maid Service providers) in Mumbai (Bombay)" for the common good. And that was the first time I wrote such extensively--but that "rabid dog" has problems when I write for common good--what an irony. Someone should take this fellow to mental asylum immediately or give him anti-rabies injection....lol.....This fellow has such a junk brain that he thought that I was cheated Rs.7000, through maid service---but in that essay I was referring to incidents how people are cheated through such services--I think this fellow should put some manure over  his head and water regularly......It seems some fellows have irritation in whatever I write-be it good or bad....reasons--I told you earlier. Also it seems, from the writings of an mentally retarded person, that I should not fall ill, nor should I travel or my broad band should be always in perfect shape or my parents should not fall ill--I should be a machine and work for their "fucking problems", 24x7......Also, thse morons do not understand that after the company announced launching of channel, a massive ECONOMIC CRISIS rocked the world economy. So many scrips fell from grace: Reliance Power, RNRL, Rolta Ltd, Bartronics Ltd, etc...Those who understood the market should have by now averaged the price of the scrip to some abnormally low price......Jealousy is a disease which kills one, and soon these will get killed when Kohinoor Broadcasting will sign a Power deal with a German Company!! Moreover, these junks are so timid, that do not have the guts to come out in the open and say, who they are....always coming as guests or with some names in MMB....Of course if you want to get free entertainment, please visit, MMB and enjoy non-stop extravaganza, free of charge....Ha ha ha ha....!!!!! Anyway, let these bullshits write whatever they like--who cares...But, but, but...hold for a moment, I am happy that these jokers have started reading my blog and my posts in various forums (Hmm good sign)--I sincerely hope that some day, these monkeys will become man...Well-wishers: what do you say??!! "Thik bola na....."..Cheers!!

Those who have shorted my F & O call SBI at Rs.3020, must have benefited by huge amounts in this week. The following calls were given to the Paid Groups on 7th December, 2010. 

F & O Calls:

(i) Sell SBI at Rs.3020, T--Rs.2800, SL--Rs.3100 (strict)

(ii) Sell Sesa Goa at Rs.307, T---Rs.270, SL--Rs.320

I have already written earlier that fundamentals of Jupiter Bio Science Ltd is terrific, it is only that the market condition is not conducive for the small cap counters, that many of the small caps are not performing as expected. If you want to make basket full of money,  you need to  have time and patience. Also you need to be aways from the vested interest groups, who will be writing nonsense about such things. I have already mentioned that Jupiter Bio Science Ltd has opened a subsidiary in Hong Kong in the name of Jupiter Bio Science Hk.There are persons who think share market is a casino or lottery--you put money and get returns immediately, which is not true, in many cases. You should have patience to make money from the share market, because it is a business not a Roulette Wheel. 

WINNING STROKES: THINK DIFFERENT:

So how would the markets behave from here.....This portion is only for the Paid Groups....

Energy Development Ltd hits the buyer freeze in the opening trade before cooling down a bit. The company is doing a number of hydro-electric projects and is also generating hydro-electricity. Due to good monsoon, the projects are expected to yield good results.

My recommended ITL Ltd at Rs.29.25 touched Rs.90.50 today. One can find a research report on the company at www.sumanspeaksplus.blogspot.com.

Today the annoucement in Sanguine Media Services Ltd re-confirmed that Paid up equity capital of the company has increased from Rs.15 Cr to massive Rs.120 Cr, by creation of 11.5 Cr (eleven crore and fifty lakh) additional equity shares of Rs.10 each. This is great confirmation from the company and is superb news for the shareholders. It seems the new management are bent on producing wonders for the company. Jai Ho!! 

Today I saw someone recommending Atlanta Ltd for a target of Rs.440. I think you remember that the stock was recommended at Rs.94.70 first to the Paid Groups and then to the free groups. There is also a report on it  at: http://sumanspeakscurrentaffairs.blogspot.com/search?q=atlanta

Kohinoor Broadcasting Corporation Ltd recommended first to the Paid Groups and then to the free groups at Rs.3.3-3.4 closed flat today, at Rs.3.57. The company came out with good set of numbers on consolidated basis for the June, 2010 quarter. Please do not get baffled looking at the standalone numbers--the company does not have any revenues from the Indian operations. Hence we should now consider the consolidated balance sheet and not the standalone balance sheet, which is there in the link below: http://www.bseindia.com/qresann/detailedresult_cons.asp?scrip_cd=531366&qtr=66&compname=KOHINOOR%20BROADCASTING%20CORPORATION%20LTD.&quarter=JQ2010-2011&checkcons=55c

 On a consolidated basis, the total sales of Kohinoor Broadcasting Corporation Ltd for Q1FY11 came out to be Rs.43.65 Cr, Net Profit of Rs.3.68 Cr and EPS of Rs.1.34 (Rs.5.36 on annualised basis), but the irony is that the stock is trading at Rs.3.57.  The company which earlier launched its earth station deferred the launch of TV channel due to the economic crisis. The Company has a wholly owned subsidiary viz M/s Kohinoor Broadcasting Corporation FZE whose registered office is situated at Office No. E-57G-14, PO BOX 41712, Hamriyah Free Zone, Sharjah - UAE with effect from 7 August 2007. The Main object of the Subsidiary company has been set out as general trading. The company proposes to use the subsidiary company as its distribution arm in Middle East.During the fiancial year, 2008-09 the Company has invested a sum of Rs.18.34 Cr (US$ 4.51 Million) in Kohinoor Broadcasting Corporation FZE, a wholly owned subsidiary-company, registered at Hamriyah Free Trade Zone, Sharjah - UAE. The total value of the Investment translated in to INR in the wholly owned subsidiary amounted to Rs.106.152 Cr {US$ 20.84 Million) till the close of the financial year. Hai re stock market, what have you done to the share price of Kohinoor Broadcasting Corporation Ltd--why is this trading at such an abnormal price of Rs.3.57.....Is this analysis paralysis or something other or bad publicity by vested groups. For more on Analysis Paralysis please visit the link: http://c2.com/cgi/wiki?AnalysisParalysis

Oil India Ltd recommended around Rs.1400 to the Paid Groups, reached its target of Rs.1550 yesterday. Today it touched Rs.1623 making  new 52-week high.

Today I saw someone recommending my Pick of the Week on (21st December, 2010), Sarda Energy & Minerals (SEML) Ltd. If you remember I recommended  the scrip at Rs.74.95. You can reach the research report at http://sumanspeaksplus.blogspot.com/search?q=sarda
My recommended Reliance Industries Ltd touched Rs.1016. I am looking for a target of Rs.1160, which needs to be broken on the  upside......

WINNING STROKES: THINK DIFFERENT:

Gulf Oil Corporation Ltd hit the buyer freeze after an SMS was sent during the market hours to both the free and Paid Groups.

Bartronics Ltd recommended in the last Sunday Report at around Rs.72--Rs.73, touched Rs.94, before falling a bit.

XL Telecom and Energy Ltd hit the 2nd consecutive buyer freeze on the news that the company would now get majority portion of its revenues from the energy sector. One of the solar farms of the company in Europe has started working which is going to bring good revenues for the company.

Kernex Micro System Ltd hit the 3rd consecutive buyer freeze with good volume. Moreover CSEC Ltd recommended at around Rs.196 a couple of weeks back touched Rs.239 today.

BSEL Infrastrucutre Realty Ltd recommended to the Paid and Free groups in this blog hit the 2nd consecutive buyer freeze with good volume.

People have started to accumulte Phoenix International Ltd considering the bright prospects of the company.

Kamanwala Housing and Construction Ltd touched Rs.24.85 before cooling down a bit. The stock was recommended to the Paid Groups at around Rs.22.

Nu Tek India Ltd hit the buyer freeze in the initial trade before cooling a bit. The stock was recommended to the Paid Groups last month.

Thermax Ltd recommended around Rs.170, crossed Rs.200 today with good volume. There is a report on the company at SumanSpeaksPlus.

English Indian Clays Ltd recommended around Rs.267-269, touched Rs.306.95 before cooling down a bit. The stock has a mining story as well as rights issue story. The company is coming up with rights issue at Rs.1000 per share.

Pyramid Saimira Theatres Ltd hit the buyer freeze, before coming out of it. What is the latest on the fake letter story?? When is SEBI coming out with its report on it and what is expected of that report??!!

Areva T & D Ltd moved to Rs.220 in the opening. The stock was recommended last month around Rs.172--Rs.181 range.

Lok Housing and Construction Ltd hit the 2nd consecutive buyer freeze. The company has one of the highest land holdings among the real estate giants.

Kohinoor Broadcasting Corporation Ltd hit the buyer freeze with thin volume. In the same way my recommended Sical Logistics Ltd hit the buyer freeze. The latter was recommended a couple of weeks back.

KEC International Ltd hit the buyer freeze. The company gets around 70% of its order from overseas and it has huge order book. The stock could be heading towards Rs.250 mark.

The Quickie Call Sandur Manganese Ltd recommended a couple of weeks back at Rs.200 hit the 2nd consecutive buyer freeze.

Bata India Ltd recommended to the Paid Groups reached it target of Rs.119 today.

Vikash Metal and Power Ltd hit another buyer freeze on the positive effect created by the news that the Commercial production of Ferro Silico Managenese & Ferro Managanese has started from October 18, 2008 and the Captive Power Plant of 10MW capacity has started commercial production from June 25, 2008. Market have started to factor in these two good news about the company. Besides steel sector has again started to look good with my recommended counters like Tata Steel, JSW Steel , Sunflag Iron and Steels Ltd, and SAIL giving good return to the investors.

My Recommended Vijay Shanti Builders Ltd hit the buyer freeze. The company also has good land holding and is currently trading at an absurd price.

My recommended Sarda Energy and Mineral Ltd (Report on www.sumanspeaks.blogspot.com) hit the buyer freeze. The stock was also recommended by my friend Ashish Chugh.

Key benchmark indices extended gains for the third day in a row after a near 5% fall on Monday 30 March 2009, led by gains in banking, capital goods, realty and metal stocks. Firm global equities and data showing resumption of buying by foreign funds triggered a solid rally on the domestic bourses today. Inflation hovered at near zero level reinforcing expectations of a further easing of the monetary policy by the central bank and boosting stocks.

The barometer index BSE Sensex settled at its highest level in nearly five months. The Sensex jumped 446.84 points, or 4.51%. The barometer index today also crossed the psychological 10,000 mark. The Sensex had hit 10,000 mark late last week. However, a near 5% slide on Monday, 30 March 2009, had pulled it below that level.

Expectations of a further easing of the monetary policy by the Reserve Bank of India (RBI) aided the rally. Inflation as measured by the wholesale price index rose 0.31% in the 12 months to 21 March 2009, marginally above the previous week's annual rise of 0.27%, government data showed today, 2 April 2009. The annual inflation rate was 7.85% during the corresponding week of the previous year.

Meanwhile, as per reports the Ministry of Corporate Affairs (MCA) has accepted the recommendation of the National Advisory Committee of Accounting Standards (Nacas) to defer implementation of Accounting Standard 11 (AS-11) which deals with accounting treatment of foreign currency transactions. According to AS-11, companies need to report a gain or loss every quarter after taking into account the value of their foreign exchange (forex) dent at the quarter-end currency rates. With MCA nod for the Nacas's decision, the companies need not report mark-to-market losses or gains in this regard.

Some of the companies which would benefit significantly from this step are Tata Steel, Tata Motors, JSW Steel, Mahindra & Mahindra (M&M) and Ranbaxy among others. The deferment could also include companies that import key raw materials and firms that pay royalty.

European shares rose on Thursday on hopes that an economic downturn is moderating, with investors training their sights on a G20 leaders' meeting in London. Key benchmark indices in France, Germany and UK were up by between 2.66% to 3.94%.

The European Central Bank (ECB) today cut its key interest rate to 1.25%, a fresh record low. Yet, it was a smaller-than-expected cut. Most economists had expected a half-point cut to 1%.

Meanwhile, the latest data in UK was positive. The Nationwide Building Society said UK house prices unexpectedly rose 0.9% in March 2009. The average house price rose for the first time since October 2007, Nationwide noted. The rise followed a 1.9% drop in prices in February 2009.

Asian stocks shot to a three-month high on Thursday, building a three-day rally on hopes the U.S. economy has bottomed. The key benchmark indices in China, Hong Kong, Singapore, Japan, South Korea, Singapore and Taiwan rose by between 0.72% to 7.41%.

US stocks surged on Wednesday, 1 April 2009, after the Institute for Supply Management said its factory index increased to 36.3 last month, a third consecutive advance. Another data showed US pending home resales rose 2.1% in February 2009, exceeding economists' forecasts.

The latest US data came after some other reports had recently suggested that the worst of the global economic recession may be over. US durable-goods orders rose in February 2009, Chinese urban investment surged 26.5% in the first two months of the year, and German investor confidence reached its highest level since July 2007 in March 2009. The latest data had also showed that the rate of contraction in European manufacturing and services industries is slowing. Japanese companies including automaker Nissan Motor Co. have said that they will increase production in coming months.

Even so, bad news still pervades. Data released yesterday showed that Japanese business confidence plunged to a record low, Chinese manufacturing is shrinking and German retail sales unexpectedly fell. Companies in the US cut an estimated 742,000 workers in March 2009, the most since records began in 2001, according to ADP Employer Services.

US auto sales continued sliding in March 2009 but the auto makers pointed to a sales rebound in the last week of the month.

Trading in US futures showed the Dow could rise 132 points at the opening bell on Thursday, 2 April 2009.

Closer home, Indian manufacturing activity contracted for a fifth straight month in March 2009 as demand remained depressed by the global economic downturn, although there were some signs of improvement, a survey showed on Wednesday, 1 April 2009. The new orders index rose to 49.5 in March 2009 from 45.9 in February 2009.

Signs of improvement in the manufacturing sector has helped offset dismal exports data. India's exports fell an annual 21.7% in February 2009 to $11.91 billion, data released by the government duding trading hours on Wednesday, 1 April 2009, showed. It was a fifth straight monthly fall in exports as the global slowdown slashed demand for Indian goods. The trade deficit narrowed to $4.9 billion in February 2009 from $6.1 billion in January 2009 due to a sharp fall in imports. Imports fell an annual 23.3% to $16.82 billion in February 2009. Oil imports fell 47.5% during the month from a year earlier to $4.05 billion.

Prime Minister Manmohan Singh on 24 March 2009 said India's economy will revive in a big way in six to seven months as stimulus packages start to take effect. On the same day, Planning Commission Deputy Chairman Montek Singh Ahluwalia scaled down the GDP (gross domestic product) growth projection for the current fiscal to 6.5% from the 7.1% increase estimated by the government earlier during the year, owing to the ongoing global crisis.

Meanwhile, there are signs that the credit flow to businesses is improving. During the fortnight ended 13 March 2009, loans sanctioned by scheduled commercial banks (SCBs), including regional rural banks, went up by Rs 22,423 crore. This was the third fortnight in a row when credit flow went up. Earlier, an extreme risk aversion by banks had chocked credit flow to the industry - the lifeline of business.

Indian corporate bonds sales posted their best quarter on record as government-backed infrastructure and finance companies raised funds to bolster their capital. Indian companies raised Rs 37800 crore from bonds in Q1 March 2009, 44% more than in the same period a year earlier. State-owned lender India Infrastructure Finance Co. raised Rs 7370 crore in the biggest bond sale of the quarter, followed by a Rs 3950-crore issue by the National Bank for Agriculture & Rural Development, known as Nabard.

Earlier the global financial crisis ends and sooner the risk appetite of global investors and global companies improves, better it will be for India Inc. An increase in risk appetite of global investors/global companies will help Indian firms raise overseas funds required for business expansion. The global financial crisis has chocked the overseas funding route for Indian firms.

Raising funds could become difficult for small and medium enterprises (SMEs) with new lending regulations for banks, popularly known as Basel II norms coming into practice from 1 April 2009. All business units, irrespective of their size, will need to take ratings for their enterprises to secure working capital, loans, and other funds from banks.

Lack of funding has hit a slew of long-gestation infrastructure projects in India. World Bank Chief Economist & Senior Vice-President, Dr Justin Yifu Lin, on 13 March 2009, said if India can improve its infrastructure such as electricity, power, transportation and port facilities, it will be well on its path to achieve a 9-10% growth.

India's fiscal deficit for the April-February 2009 period was Rs 3,07,000 crore ($61 billion), or 94.1% of an upwardly revised budget target, a government statement said on Tuesday, 31 March 2009. In February 2009, the government revised upwards its fiscal deficit estimate for the year ending 31 March 2009 to Rs 3, 27, 000 crore, equivalent to 6% of gross domestic product from 2.5% estimated earlier. The deficit has widened after the government announced extra spending of close to Rs 1,50,000 to cover a farm debt scheme, subsidies and steps to stimulate a slowing economy.

Foreign funds have resumed buying of Indian stocks. As per the provisional data foreign funds bought shares worth a net Rs 173.75 crore on Wednesday, 1 April 2009. The inflow followed heavy sales in the preceding three trading sessions. Foreign funds dumped stocks worth a net Rs 1266.70 crore in three trading sessions from 27 March 2009 to 31 March 2009. Before the selling, foreign institutional investors had mopped up stocks worth Rs 3635 crore in a short span from 17 March 2009 to 26 March 2009.

However, a recent sharp volatility in the rupee may dissuade fresh buying by foreign funds. The rupee has bounced back after hit a record low beyond 52 per dollar early last month.

The Indian rupee rose for a second straight session on Thursday 2 April 2009 boosted by expectations of gains in domestic stocks which could bring in foreign fund flows while a weaker dollar overseas also helped. The partially convertible rupee was at 50.34 per dollar, stronger than Tuesday's close of 50.71/72. The currency market was closed on Wednesday for annual book closing of banks Domestic institutional investors have been absorbing heavy selling by foreign funds witnessed in first two months of calendar year 2009.

The upside on the domestic bourses will be capped in the next two months due to political uncertainty ahead of parliamentary election to be held between mid-April 2009 to mid-May 2009. More so at a time when it is highly unlikely that either Congress or BJP will come to power on its own, i.e., without the support of other small/regional parties. Early estimates point a fractured mandate. An alliance led by the Congress party is ahead in pre-poll surveys carried out by several polls.

But in a move which could undermine the chances of a Congress-led alliance getting more seats in the election, RJD supremo Lalu Prasad has announced candidates for 28 of the 40 constituencies in Bihar including from the three seats where Congress has sitting MPs. RJD is one of the key constituents of the current Congress-led UPA government at the Centre.

The Congress, meanwhile, has reportedly sealed a seat-sharing pact with the Nationalist Congress Party (NCP) in the populous Maharashtra state. Relations between the two parties have been prickly as the NCP negotiated with opposition parties to undercut Congress and boost its leader's prime ministerial ambitions. Congress will stand for 26 seats in the state and the NCP for 22. The allies are weighing up their options for a similar deal outside the state.

A latest jolt to the Congress party came from a decision of the regional party in Tamil Nadu viz. the PMK on Thursday, 26 March 2009, to join hands with the All India Anna Dravida Munnetra Kazhagam (AIADMK). PMK is a part of the ruling Congress-led United Progressive Alliance at the centre. The PMK's decision to join AIADMK could give impetus to the Third Front if the PMK and AIADMK join it.

The Congress party on Tuesday 24 March 2009 said it would extend interest relief to farmers and build on the national job guarantee scheme. The focus on populist measures by Congress may weigh on the stock market sentiment especially at a time when the fiscal deficit has risen sharply. Releasing the party manifesto for the election, the Congress party on Tuesday said it would maintain government control over state-run firms in the manufacturing and finance sectors.

Meanwhile, BJP president Rajnath Singh said in a recent interview to a news agency that the party will speed up foreign investment projects in the country if it wins the parliamentary elections in May 2009. The measure is part of the BJP's election manifesto to be unveiled this week.

Singh said the BJP would be more open to foreign investment than Congress, which was unable to pass major economic reforms and open the economy further up globally due to opposition from leftist allies. Singh said his party would also focus on agriculture, putting more money in the pockets of farmers. More than half of India's 1.1 billion population live in villages.

A group of smaller political parties, including the communists, have formally launched a Third Front in a bid to provide an alternative to the two main parties viz. the Congress and the BJP.

The BSE 30-share Sensex was up 446.84 points, or 4.51%, to 10,348.83, its highest closing since 10 November 2008. At the day's high of 10,432.31, the Sensex rose 530.32 points in mid-afternoon trade. At the day's low of 10,107.25, the Sensex rose 205.26 points in early trade.

The S&P CNX Nifty was up 150.70 points or 4.92% to 3,211.05, its highest closing since 21 October 2008.

The BSE clocked a turnover of Rs 4,900 crore, higher than Rs 3,887.60 crore on Wednesday 1 April 2009.

Nifty April 2009 futures were at 3227.15, at a premium of 16.10 points as compared to the spot closing of 3211.05. Turnover in NSE's futures & options (F&O) segment increased to Rs 56,491.50 crore from Rs 52,145.14 crore on Wednesday, 1 April 2009.

From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex has risen 2,188.43 points or 26.81%.

Coming back to today's trade, the BSE Mid-Cap index rose 3.77% and the BSE Small-Cap index rose 2.91%. Both the indices underperformed the Sensex.

The BSE Realty index (up 9.13%), the BSE Metal index (up 6.85%), the BSE Oil & Gas index (up 5.73%), the BSE Capital Goods index (up 5.32%), the BSE Bankex (up 4.79%) outperformed the Sensex.

The BSE FMCG index (down 0.31%), the BSE Healthcare index (up 1.75%), the BSE Auto index (up 2.76%), the BSE Consumer Durables index (up 3.21%), the BSE IT index (up 4.1%), the BSE Power index (up 4.1%), the BSE TECk index (up 4.23%), the BSE PSU index (up 4.45%) underperfomed the Sensex.

The market breadth, indicating the overall health of the market, was strong on BSE with 2,014 stocks advancing as compared with 556 that declined. A total of 55 shares remained unchanged.

From the 30 share Sensex pack 29 stocks rose while 1 fell.

India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) rose 5.26% to Rs 1,662.50 on reports the company has started pumping gas from the Krishna Godavari (KG) which is estimated to add close to $2 billion to the company's profit at peak production levels. However, the stock came off the day's high of Rs 1,678.80.

RIL's advance tax payment fell 16.47% to Rs 370 crore in Q4 March 2009 over Q4 March 2008.

India's largest oil exploration firm by sales ONGC rose 8.28% while Cairn India jumped 9.96% on rise in crude oil prices. Rise in crude oil prices would result in higher realizations from crude sales for the oil exploration firm. Crude oil for May 2009 delivery surged $2.51 a barrel or 5.19% to $50.90 a barrel in Asian Electronic Trading on Thursday, 2 April 2009 on signs the world economy is stabilizing as leaders of the most powerful nations meet in London to address the financial crisis.

Shares of oil marketing companies extended recent gains after the government issued oil bonds worth Rs 10,000 crore recently to compensate them for under-recoveries on sale of petroleum products at a controlled price during the current financial year. BPCL and HPCL rose by between 2.15% and 2.64% respectively.

Indian Oil Corporation rose 3.17% after company said on 25 March 2009 the government has approved a proposal to absorb its subsidiary Bongaigaon Refinery & Petrochemicals (BRPL). Indian Oil will issue four shares for every 37 shares in BRPL.

Indian Oil Corporation has been issued oil bonds worth Rs 5,817.27 crore, while Bharat Petroleum Corporation has been issued bonds worth Rs 2,144.32 crore. Hindustan Petroleum Corporation has got bonds worth Rs 2,038.41 crore.

Rate sensitive real estate shares extended gains on hopes lower rates will spur housing demand. DLF, Indiabulls Real Estate and Unitech rose by between 0.01% to 15.08%. Most of the realty deals including sale of commercial property and housing sales is driven by finance.

Housing Development & Infrastructure spurted 13.01% on reports the company is selling 4 lakh square feet of transferable development rights worth Rs 42 crore.

Metals stocks rose on firm metal prices on the London Metal Exchange. Tata Steel, Hindustan Zinc, Sterlite Industries, National Aluminum Company and Hindalco Industries, rose by between 2.22% to 9.96%.

Indian largest engineering and construction firm by sales Larsen & Toubro rose 6.65% to Rs 717.25 after it won two orders worth a total of Rs 1,344 crore ($265 million) from refiner Mangalore Refinery and Petrochemicals. It had earlier announced bagging two orders aggregating Rs 1,143 crore ($227 million) from Tata Steel. However the stock came off the day's high of Rs 735. Other capital goods stocks, Crompton Greaves, Punj Lloyd, Praj Industries, Thermax, ABB, rose by between 0.89% to 16.36%.

India's largest equipment maker by sales Bharat Heavy Electricals rose 4.06% to Rs 1,531.85 after it reported a 6.06% rise in net profit to Rs 3,039 crore on 28.52% rise in turnover to Rs 27,505 crore for the financial year ended March 2009 over financial year ended March 2008, as per tentative figures. The stock came off the day's high of Rs 1,564.

Banking stocks rose on hopes a further fall in interest rates may boost lending growth. India's largest private sector bank by net profit ICICI Bank rose 3,09% to Rs 360.25 off the day's high of Rs 379. Its American depository receipts (ADR) rose 8.05% on Wednesday, 1 April 2009. ICICI Bank's advance tax payment remained unchanged at Rs 250 crore in Q4 March 2009 when compared to Q4 March 2008.

India's second largest private sector bank by operating income HDFC Bank rose 3.77% to Rs 1,034.75 off the day's high of Rs 379. Its ADR rose 2.38% on Wednesday. Its advance tax payment rose 10% to Rs 275 crore in Q4 March 2009 over Q4 March 2008.

India's largest bank in terms of assets and branch network State Bank of India rose 6.65% to Rs 1,145.35 off the day's high of Rs 1,172. Its advance tax payment jumped 27.64% to Rs 1810 crore in Q4 March 2009 over Q4 March 2008.

India's biggest dedicated housing finance firm by operating income HDFC rose 5.09% to Rs 1,562.50 off the day's high of Rs 1,619. It announced a 50 basis points reduction in its retail prime lending rate (RPLR) to 14% effective 25 March 2009.

Outsourcing focussed IT stocks rose on hopes aggressive measures by the United States to revive the economy may bear fruit. US is the biggest market for Indian IT firms. India's second largest software services exporter Infosys Technologies rose 3.26% as its ADR rose 1.35% overnight. Recent reports said it may win a large IT project from the government, which will run on a transaction-based pricing model, similar to the passport processing contract its larger rival Tata Consultancy Services (TCS) won last year. The contract is among the many large IT contracts that are up for bidding from government departments or public sector undertakings, reports suggest.

India's third largest software services exporter, Wipro rose 7.41% .Its ADR rose 2.53% on Wednesday. Recently its unit Wipro Infotech won an outsourcing contract worth Rs 1,182 crore from the Employees State Insurance Corporation (ESIC).

India's largest software services exporter by sales TCS rose 6.29% The company's advance tax payment fell 54.3% to Rs 53 crore in Q4 March 2009 over Q4 March 2008.

Cement stocks rose on reports cement firms have raised prices by Rs 3-7 per 50 kg bag in anticipation of higher demand. ACC, Birla Corporation India and India Cements 2.12% to 3.8%.

Ambuja Cements rose 3.28% after its shipments rose an annual 0.5% to 1.72 million tonnes in March 2009 over March 2008.

Grasim Industries rose 3.47% while UltraTech Cement gained 2.66%. Aditya Birla Group's cement shipments rose 11.2% to 3.37 million tonnes in March 2009 over March 2009. Production for the month rose 12.4% to 3.40 million tonnes. The group's cement business includes flagship Grasim Industries and unit UltraTech Cement, with combined production capacity of 35 million tonnes a year.

Commercial vehicle maker rose on recent reports the government plans to extend higher depreciation benefit of 50% on commercial vehicles by three months till June 2009. India's largest commercial vehicle maker by sales Ashok Leyland rose 2.17%.

India's largest commercial vehicle maker by sales Tata Motors rose 12.84%. Its domestic sales however fell 13% to 52,686 units in March 2009 over March 2008. Nevertheless, the domestic sales rose 24% in March 2009 over February 2009. The higher depreciation rate translates into lower tax liabilities and lower insurance premiums for buyers of commercial vehicles.

India's largest car maker by sales Maruti Suzuki India rose 0.14% as its total vehicle sales rose 21.9% to 85,669 units in March 2009 over March 2008.

India's largest tractor maker by sales Mahindra & Mahindra rose 6.46% after the company posted a 6% rise in total vehicles sales to 26,209 in March 2009 over March 2008.

India's largest motorbike maker by sales Hero Honda Motors fell 1.18% even as it reported 10.2% rise sales to 3.53 lakh unit in March 2009 over March 2008. TVS Motor Company rose 0.22% after the company posted a 4.22% rise in its two-wheeler sales to 1,21,988 units in March 2009 over March 2008.

India's largest power generation firm by sales NTPC galloped 3% after the company said it will generate 217 billion units of electricity in the financial year 2009/10 that began on 1 April 2009.

Bharat Electronics rose 2.04% after the company said its turnover per employee and value added per employee rose in the year ended March 2009 over the year ended March 2008.

Reliance Natural Resources clocked the highest volume of 2 crore shares on BSE. Suzlon Energy (1.94 crore shares), Unitech (1.44 crore shares), Housing Development & Infrastructure (1.14 crore shares) and Ispat Industries (1.1 crore shares) were the other volume toppers in that order.

ICICI Bank clocked the highest turnover of Rs 329.44 crore on BSE. Reliance Industries (Rs 284.23 crore), Reliance Infrastructure (Rs 181.99 crore), Reliance Capital (Rs 176.41 crore) and State Bank of India (Rs 160.64 crore) were the other turnover toppers in that order.

WINNING STROKES: THINK DIFFERENT:

[....look for discounts in the Paid Packages]

It is good to note that Mr.Arun Jaitley has decided to patch up with Mr.Rajnath Singh. I appreciate the efforts of these two respected gentlemen, in diffusing the tension, created over a very small matter. If you remember I had mentioned yesterday, that my sources in BJP in the North East, are upbeat after finding Mr.Sudhanshu Mittal (Many call him king-maker as due to his efforts only, the difficult AGP--BJP alliance was possible; according to a number of my sources in North East), at the helm of affairs.

The BJP apart from doing well in Assam (could sweep,unless the congress ties up with the Muslim League in Assam--the UDF, as it did in Kerala) and in Manipur, it would also do well in West Bengal, according to my analysis, as compared to last time; mainly on the back of the non-fragmentation of the core BJP voters in all these states. Remember in Assam, the situation is a litttle different, than rest of India, as it has been found that a good section of Muslims (who are basically Sufis) have always voted for the BJP. This time also a sizable section of the Assamese Muslims are going to vote for the BJP-AGP, combine due to this historic alliance---hence my analysis that AGP--BJP combine could sweep in Assam, in these elctions.

Moreover, the people at West Bengal are now a little confused, as whom to vote after an alliance was struck by the opportunists Congress and Ms. Mamata Banerjee. It is to be understood that though Ms.Banerjee, got the applaud from the poorer sections of the society as regards to Nandigram issue, but she basically infuriated the elite/upper middle class of West Bengal on this matter. Many think that Nandigram issue which led to the exodus of Tatas (or Tata Nano project), could dent the urban vote bank of both the Congress (a silent supporter) and Trinomool Congress (Ms.Mamata Banerjee's party).

In Bihar the Congress would find one of the greatest challenges, as it did away with alliance with RJD, in view of Laloo Prasad Yadav, saying SIMI (Student Islamic Movement of India) should not be banned. Mr.Laloo Yadav's, RJD is heading for one of the worst performances in recent times, as his M-Y (Muslim-Yadav) combine might not work this time, due to the fragmentation of the vote bank.

The same fate lurks ahead for Mulayam Singh Yadav, in Uttar Pradesh, as BSP would get majority of the Muslim/Lower Caste votes, inspite of the entry of Mr. Kalyan Singh into Samajbadi Party (SP). On the other hand, BJP is expected to improve its performance in Uttar Pradesh and Bihar, due to non-fragmentation of the upper caste votes and core lower caste votes (mainly OBC/Kurmi Voters in Bihar) in both the states. However, the main gainer of all these exercise would be BSP, led by Mayawati, in Uttar Pradesh.

The Left Parties are heading for one of their worst performances in recent times. In Kerala, also the Congress is expected to do well. In West Bengal, its seat could become half than what it got last time, due to the consolidation of the Muslim votes towards the Congress--Trinomool alliance.

Moreover, people are tired of Left's regressive and opportunists policies. Still now they believe in the classical form of economics when the whole world is following the Keynesian Concepts. With the governments of all the major countries announcing bailout packages, rate cuts and other such government action, it is the Keynesian line of thinking that they are adopting and implementing.

The Keynesian line of thinking includes the theory, that the total demand for goods in an economy might be insufficient during economic downturns, leading to unnecessarily high unemployment and losses of potential output, exactly the situation that we are currently in. It suggests that the solution to this is that government policies should be used to stimulate the wavering demand, which will help in increasing economic activity and consequently reduce unemployment and deflation. For instance, according to Keynes a booming economy and high demand growth would call for raising taxes to cool the economy and to prevent inflation. Similarly in an economic downturn, it would be appropriate for the government to engage in deficit spending on labor intensive infrastructure projects to give a fillip to employment and prop up wages. Thus, continuously engaging in counter cyclical policies, to calibrate the growth of the economy in a smooth and even manner. On the other hand, the opposite doctrine termed ‘classical economics’ suggests that the authorities should cut taxes when there are budget surpluses, and cut spending /increase taxes—during economic downturns. Thus trusting in the invisible hand of the market to adeptly allocate resources on the basis of price signals in the market. Some would argue that this is the thinking that has got us to where we are right now. The essence of Keynes argument is that governments should solve problems in the short term rather than waiting for market forces to do it in the long run. That is because "in the long run, we are all dead." Taking a leaf out of Keynes’ book, that is what governments the world over are doing currently.

It is to be remembered that in the last elections, Trinomool Congress was routed, as the Muslims did not vote for that party. This time the people of West Bengal has to decide between the parties who are soft on Terrorism or Champions of backward economic policy and a party who is strong on Terrorism and has an almost equivalent economic policy of the UPA. The people of West Bengal might question the UPA government, on their progress of nabbing the perpetrators of the Mumbai Carnage. The UPA Government hardly did anything, except giving false promises and lip services; even after almost 4 (four) months of that ghastly incident, which shook the whole world.

Moreover, in this election, please think why you should vote the white elephants of Indian democracy, who have no track on what is happening in India--Shashi Tharoor, Mallika Sharabhai (She stood against Mr. L K Advani only to create a stunt which is her inherent characteristics), Sanjay Dutt (he did all the anti-social things and now he is shamelessly asking for votes. Is this the democracy we boast of.....Democracy does not mean mobocracy as we have in Pakistan. In Pakistan they have invented an absurd concept called Islamic-democracy), Jaya Prada (If she gets a ticket, this time. If you remember, she got brick-bats from the voters after she visited the constituency a couple of months back. She virtually did nothing for the Muslims, majority of whom gave their votes to her), Azhar Uddin (the former Cricket match-fixer is now Congress Party's mascot in the south India. At last we now have a match-fixer in Congress!!), Kabir Sumon (From Sumon Chatterjee after embracing Islam in order to marry Sabina Yashmin, a popular Bangladeshi Singer. He makes us remember the Fiza--Chand Muhammod story), etc.

Anyway, lot of politics, let us focus on the stock market. Sarda Energy and Power Ltd is now being recommended by my friend Ashish Chugh. The stock hit the buyer freeze. There is also a report on the company at www.sumanspeaksplus.blogspot.com. Crude Oil reached my target of $51 per barrel on Nymex, which is look to break the next level of $54 per barrel ahead of summer driving season. If you remember I had predicted this target when the crude was trading at $34 per barrel and most of the analysts were saying it would reach $28 per barrel. This is definitely going to help the financials of the Oil exploration companies, like Selan Exploration Ltd, Reliance Industries Ltd, etc.

Vikash Metal and Power Ltd hit 6th consecutive buyer freeze yesterday. The company is now a power play along with the steel play.

KEC International Ltd recommended at Rs.113--Rs.120 range, touched Rs.142.35 yesterday. The stock should be accumulated in bulk on all dips.

Selan Exploration Technology Ltd recommended to the Paid Groups and here in this blog, touched Rs.124.90, before coming off a little. The company has started buy back of the shares from the open market.

Oracle Financial Services Software Ltd recommended a couple of days to the PAID GROUPS around Rs.600 jumped to Rs.703.70 before cooling down reflecting a boom in the stocks, related to the mid-cap IT space. I had mentioned earlier that the stock would be the biggest beneficiaries of the recovery of the US Financials.

Phoenix International Ltd nearly hit the buyer freeze yesterday, on positive outlook on the company. The company sister company is coming out with gas production in this year, which would benefit the shares of this company. The fact that the shares of the company are trading near its 52-week low price gives further ammunition to the bulls.

Thermax Ltd recommended to the Paid Groups in the last Sunday Report touched Rs.187, before coming down a little. There is a report on the company at: www.sumanspeaksplus.blogspot.com.

Areva T&D India Ltd recommended in this blog, moved to Rs.187. The company bagged the first private sector Ultra High Voltage Generator Transformers order from Lanco Infratech Ltd. The order valued at more than 33 million Euros, includes supply of 765 KV Generator Transformers, Shunt Reactors and 765 KV of 400 KV interconnecting transformers for switchyard associated with the 1200 MW, Thermal Power Plant.

Kohinoor Broadcasting Corporation Ltd hit the buyer freeze on the opening trade, yesterday.

Reliance Industrial Infrastructure Ltd moved to Rs.284.70. The stock is going to give stupendous returns going forward. Meanwhile Reliance Industries Ltd which was recommended around Rs.1100 in this blog and in the Free Yahoo Group, SumanSpeaks, moved to Rs.1354, yesterday, before cooling down a bit.

Following F & O Call was given to the Paid Groups, yesterday:

1. Buy RELINFRA MAR 500 Call @ 8 - 102.

2.Buy RELINFRA MAR 460 Put @ 7 - 9

The outlook of the stock is positive and volatility can be expected to trade higher levels. The stock has resistance at XXX and XXX. Above this level, further uptrend is likely. On the downside, the support will be at XXX and XXX. Below this level, further downside is expected. The intra-day call on Reliance Capital Ltd reached target in the opening trade yesterday.

It was a day of immense volatility with alternate bouts of buying and selling. The barometer index BSE Sensex ended slightly higher after recovering sharply in mid-afternoon trade. Expectations of a further cut in policy rates by the Reserve Bank of India and firm European markets triggered a late recovery. Volatility in index heavyweight Reliance Industries (RIL) caused volatility in key benchmark indices today. Banking stocks, too, were choppy. IT and realty stocks rose.

Shares of some textile, gems and jewellery and leather exporters rose after Trade Secretary Gopal Pillai said exports of textiles, leather and gems and jewellery, which contribute heavily in India's total export basket, were showing signs of a pick up.

The BSE 30-share Sensex rose 25.07 points, or 0.28%, off close to 100 points from the day's low but down close to 85 points from the day's high. The Sensex flirted with the 9,000 level throughout the day.

The market surged at the onset of the trading session on mostly higher Asian stocks, increase in risk appetite globally, hopes of a recovery of the global economy, a strong rebound in rupee against the dollar and on buying by foreign funds. The barometer index BSE Sensex moved past the psychological 9,000 level. However, the market soon came off the day's high on lingering concerns about the slowing Indian economy and on lower US index futures. It slipped into the red later as some Asian stocks slipped into the red.

The Sensex moved into the green from red after the inflation data hit the market in early afternoon trade. It later recovered again after slumping to the day's low in afternoon trade. However, the recovery proved short-lived and the market weakened later. The Sensex fell below the psychological 9,000 level. It cut losses trade to trade in green for a brief period. It fell once again to hit day's low before recovering in mid-afternoon trade regaining 9,000 level. The market pared gains in late trade with the Sensex once again falling below the 9,000 mark.

Inflation based on the wholesale price index (WPI) rose 0.44% in the year through 7 March 2009, a record low for the current series data released by the government today showed. The rate of growth in inflation was much lower than previous week's annual rise of 2.43%. A sharp fall in inflation in the past few months has provided room for the Reserve Bank of India (RBI) to cut policy rates. Japanese financial services firm Nomura expects a 100 basis points reduction in key short-term interest rates by RBI in April-June 2009 quarter.

However, the central bank would be in dilemma over further rate cuts as other gauges of inflation that it takes into account when deciding policy are at a decade high. The inflation rate as measured by consumer price index for industrial workers, which seeks to represent the impact of retail prices on the country's workforce, had risen to 10.45% in January 2009, compared to 9.7% in the previous month.

Similarly, consumer price index for urban non-manual employees suggests that the annual rate of inflation in 59 Indian cities had been 9.8% in December 2008, the latest month for which data is available.

Nonetheless, a rally in rupee against the dollar has helped reduce concerns about the increase in costs of imports for Indian firms arising from a recent steep slide. However, volatility of the currency remains a cause for concern. Early this month, the rupee had tumbled to a record low below 52 a dollar.

The Indian rupee strengthened past 51 per dollar for the first time in three weeks on Thursday, boosted by firmer Asian stock markets and a weakening dollar. The partially convertible unit was at 50.32, sharply higher than Wednesday's close of 51.29/30.

The increase in global risk appetite in the past few days is a good news for Indian Inc which is facing liquidity crunch as Indian banks have become risk averse on fears of rising defaults in a slowing economy and due to the global financial sector crisis. Fund crunch for the corporate sector has, in turn, accelerated slowdown in the economy.

Earlier the global financial crisis ends and sooner the risk appetite of global investors and global companies improves, better it will be for India Inc. An increase in risk appetite of global investors/global companies will help Indian firms raise overseas funds required for business expansion. The global financial crisis has chocked the overseas funding route for Indian firms.

Lack of funding has hit a slew of long-gestation infrastructure projects in India. World Bank Chief Economist & Senior Vice-President, Dr Justin Yifu Lin, on 13 March 2009, said if India can improve its infrastructure such as electricity, power, transportation and port facilities, it will be well on its path to achieve a 9-10% growth.

Risk appetite rose globally following the latest aggressive move by the US Federal Reserve. The Fed on Wednesday said it would buy $300 billion in longer-dated Treasurys over the next six months, along with another $850 billion in mortgage-related debt, in a bid to improve credit markets and pull the US economy out of its hole.

The Fed kept the benchmark interest rates unchanged at between zero and 0.25%.

European shares rose on Thursday, tracking gains on Wall Street after the Federal Reserve said it would buy long-term Treasury bonds for the first time in four decades to try and revive the economy. Key benchmark indices in France, Germany and UK were up between 1.75% to 2.3%.

Asian markets were mixed in contrast to a firm start on lower US index futures. Key benchmark indices in Japan, Taiwan and South Korea were down by between 0.23% to 0.7%. Key benchmark indices in Singapore, Hong Kong and China were up by between 0.1% to 1.89%.

Meanwhile, Oracle Corp jumped 7.4% in after-hours trade in the US after the company said it would pay its first-ever dividend. Its fiscal third-quarter net income eased 0.8%. Yet, trading in US index futures indicating that the Dow could slide 36 points at the opening bell on Thursday, 19 March 2009.

Closer home, concerns about the slowing Indian economy remain. Indian commercial banks have become more averse to extending loans, further throttling the economic growth.

On the flip side, foreign institutional investors (FIIs) are now in buying mode which follows easing of FII selling vigour in the past few days. FIIs bought shares worth a net Rs 353.70 crore on Wednesday, 18 March 2008. FIIs can also take solace in the recent strong rebound in the rupee. A recent sharp slide in the rupee to a record low had resulted in a depreciation in the value of their equity portfolio to the extent of the fall in rupee.

Domestic institutional investors (DIIs) bought shares worth a net Rs 526.34 crore on Wednesday as per the provisional data. DIIs have been absorbing heavy selling by foreign funds in calendar year 2009.

However, the upside on the domestic bourses will be capped in the next two months due to political uncertainty ahead of parliamentary election to be held between mid-April 2009 to mid-May 2009.

Meanwhile, FIIs have responded enthusiastically to the government's decision to increase the cumulative investment limit in corporate debt from $ 6 billion to $ 15 billion. In an open bidding held at the National Stock Exchange (NSE) recently, a total of 24 bidders were allocated investments of Rs 29350 crore, the highest ever investment allocation by FIIs in India. In comparison, the net investment of FIIs in 2008 was only Rs 12069 crore. Since January 2009, FII's net investment in debt instrument has fallen by Rs 634 crore.

As per the Securities and Exchange Board of India (Sebi) data, $8 billion (Rs 41,000 crore) was available for allocation to FIIs and their sub-accounts in an open bidding platform.

Attractive interest rates have lured foreign funds to Indian debt market. For instance, corporate debt returns in the US are 1-1.5%, whereas in India, the rates are as high as 8-9%. Bonds floated by state-run firms fetch yields in the range of 9.30%, which are about 300 basis points higher than 10-year G-Sec yields. As per reports, FIIs are likely to invest in attractive PSU bonds floated by quasi-government entities like Power Finance Corporation and Rural Electrification Corporation.

Meanwhile, foreign direct investment (FDI) in India in January 2009 was up 55% at $2.73 billion from $1.76 billion for the same month in the preceding year. Up to September this fiscal year, the monthly inflows were in excess of $2 billion. However, the following three months witnessed a sharp dip in the overseas investment, due to the backdrop of the global financial crisis. The January figures bring a renewed hope that India is back on the radar of global investors.

The BSE 30-share Sensex was up 25.07 points, or 0.28%, to 9,001.75, its highest closing since 19 February 2009. At the day's high of 9,086.77, the Sensex gained 110.09 points in early trade. At the day's low of 8,900.39, the Sensex fell 76.29 points in mid-afternoon trade. The S&P CNX Nifty was up 12.45 points or 0.45% to 2,807.15.

From the recent low of 8,160.40 on 9 March 2009, the Sensex has risen 841.35 points or 10.31% in six trading sessions. Yet, the Sensex is down 645.56 points or 6.69% in calendar 2009 from its close of 9,647.31 on 31 December 2008. The S&P CNX Nifty is down 152 points or 5.13% in calendar 2009 from its close of 2,959.15 on 31 December 2008.

The BSE clocked a turnover of Rs 3,967 crore, lower than Rs 4,148.70 crore on Wednesday, 18 March 2009.

Nifty March 2009 futures were at 2801.55, at a discount of 5.60 points as compared to the spot closing of 2807.15. Turnover in NSE's futures & options (F&O) segment was Rs 48,752.20 crore, sharply lower than Rs 54,871.64 crore on Wednesday, 18 March 2009.

The BSE Mid-Cap index was up 0.52% and BSE Small-Cap index rose 1.08%. Both the indices outperformed the Sensex.

The BSE Realty index (up 2.48%), the BSE IT index (up 1.58%), the BSE TECk index (up 0.83%), the BSE Oil & Gas index (up 0.74%), the BSE Bankex (up 0.61%), the BSE Metal index (up 0.59%) outperformed the Sensex.

The BSE Capital Goods index (down 2.62%), the BSE Auto index (down 0.71%), the BSE FMCG index (down 0.28%), the BSE Consumer Durables index (down 0.19%), the BSE Power index (down 0.08%), the BSE Healthcare index (up 0.03%), the BSE PSU index (up 0.12%) underperfomed the Sensex.

The market breadth indicating the overall health of the market was positive on BSE with 1,335 shares advancing as compared with 1,128 that declined. A total of 62 shares remained unchanged. The market breadth had turned even in afternoon trade from a strong breadth earlier in the day.

From the 30 share Sensex pack, 19 stocks rose while rest fell.

India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) was volatile, moving between positive and negative zone. It provisionally rose 1% to Rs 1,344.65. The company is likely to start production of gas from KG basin, off the east coast, this month. RIL's advance tax payment fell 16.47% to Rs 370 crore in Q4 March 2009 over Q4 March 2008.

India's largest oil exploration firm by revenue ONGC rose 0.97% as crude oil prices rose more than 2% in Asian electronic trading on Thursday, 19 March 2009. Rise in crude oil prices would result in higher realizations from crude sales for the oil exploration firms.

Rate sensitive real estate shares rose on hopes lower rates will spur housing demand. DLF, Indiabulls Real Estate and Unitech rose by between 1.11% to 3.81%. Most of the realty deals including sale of commercial property and housing sales is driven by finance.

Arihant Foundations & Housing rose 4.47% after one of the promoter group companies hiked stake in the firm.

Rate sensitive banking shares rose in choppy trade on hopes a further fall in interest rates may boost lending growth. The stocks were volatile. India's largest private sector bank by net profit ICICI Bank rose 0.87% to Rs 338.10, off the day's low of Rs 327.60. Its American depository receipts (ADR) jumped 6.19% on Wednesday, 18 March 2009. ICICI Bank's advance tax payment remained unchanged at Rs 250 crore in Q4 March 2009 when compared to Q4 March 2008.

India's largest bank in terms of assets and branch network State Bank of India rose 0.75% to Rs 968.20, off the day's low of Rs 936.40. Its advance tax payment jumped 27.64% to Rs 1810 crore in Q4 March 2009 over Q4 March 2008.

India's second largest private sector bank by operating income HDFC Bank fell 1.48% to Rs 830.20, off the day's low of Rs 819.40. Its ADR rose 4.77% on Wednesday. Its advance tax payment rose 10% to Rs 275 crore in Q4 March 2009 over Q4 March 2008.

Bond prices surged in early trade today ahead of the central bank's purchase of Rs 10000-crore of existing debt from investors in an effort to cap yields. The yield on the 6.05 bond maturing in February 2019 dropped 14 basis points to 6.3% as of 9:13 IST in Mumbai. Bond yields and bond prices are inversely related.

Outsourcing focussed IT firms gained on hopes of revival in the US economy, the biggest market for IT firms. A surprise move by the Federal Reserve to buy government bonds revived hopes the battered US economy could soon begin its recovery.

India's largest software services exporter by sales TCS rose 1.62% to Rs 514.80 off the day's high of Rs 517.95. The company's advance tax payment fell 54.3% to Rs 53 crore in Q4 March 2009 over Q4 March 2008. The company during trading hours on Monday 16 March 2009 said its promoter Tata Sons has pledged more than 12.06 crore shares or 12.33% of the equity capital of the firm.

India's fifth largest IT major by sales HCL Technologies rose 2% extending recent gains on securing a contract worth $350 million on Monday, 16 March 2009.

India's third largest software services exporter, Wipro rose 0.89% as its ADR rose 5.05% on Wednesday. Recently its unit Wipro Infotech won an outsourcing contract worth Rs 1,182 crore from the Employees State Insurance Corporation (ESIC).

India's second largest software services exporter Infosys Technologies rose 1.44% as its ADR gained 3.31% on Wednesday. Infosys chief and co-founder Mr S Gopalakrishnan said on Sunday, 15 March 2009, the Indian IT industry would tide over the current downturn and might surpass the US in terms of having the largest number of IT professionals in the world in the next three years.

MindTree surged 32.58% on reports the company will restructure its business into five independent business units.

However, a stronger rupee may cap upside in IT stocks in the near future. The Indian rupee strengthened past 51 per dollar for the first time in three weeks on Thursday, boosted by firmer Asian stock markets and a weakening dollar. A stronger rupee affects operating margins of IT firms negatively as they earn most of their revenues from exports.

Metal stocks gained on jump in metal prices on London Metal Exchange. Steel Authority of India, Hindustan Zinc, Sterlite Industries and Hindalco Industries rose by between 0.01% to 2.91%. But Tata Steel and National Aluminum Company fell by between 1.76% to 2.32%. Rate sensitive auto shares fell on worries a sluggish consumer spending may dent demand for cars, motorcycles and scooters. Profit taking was another reason for slide in auto stocks after recent strong gains. Mahindra & Mahindra and Hero Honda Motors fell by between 0.65% to 1.89%. But India's largest car maker by sales Maruti Suzuki India rose 1.7%.

India's largest commercial vehicle maker by sales Tata Motors fell 2.75% after a recent strong rally in the stock ahead of the launch of its Rs 1-lakh car Nano on 23 March 2009. Tata Motors paid no advance tax in Q4 March 2009 compared to Rs 75 crore in March 2008. Some FMCG stocks fell on profit taking after recent gains triggered by expectations of better Q4 March 2008 results following reports of higher advance tax payment by these firms. Nestle India, Dabur India, Britannia Industries, Marico and United Spirits fell by between 0.2% to 3.98%. India's largest FMCG firm by sales Hindustan Unilever fell 1.03% extending recent fall even as the company's advance tax payment rose 30% to Rs 130 crore in Q4 March 2009 over Q4 March 2008.

Some healthcare stocks fell after recent gains triggered by expectations of better Q4 March 2008 results on reports of higher advance tax payment by these firms. Cipla, Wochardt, Biocon, Glenmark Pharmaceuticals, Lupin fell by between 0.03% to 3.61%.

Areva T & D India gained 0.76% on bagging an order worth 33 million euros.

Cals Refineries clocked the highest volume of 2.01 crore on BSE. Suzlon Energy (96.87 lakh shares), Unitech (84.65 lakh shares), Firstsource Solutions (81.46 lakh shares) and NIIT (72.01 lakh shares) were the other volume toppers in that order.

Akruti City clocked the highest turnover of Rs 994.03 crore on BSE. Reliance Industries (Rs 192.40 crore), ICICI Bank (Rs 169.95 crore), Educomp Solutions (Rs 144.15 crore) and HDFC (Rs 113.1 crore) were the other turnover toppers in that order.