Market on 10 January 2007

The market sentiment continued to remain depressed today, soon after opening market witnessed a sharp fall. NIFTY remained in the negative territory throughout the trading session and witnessed a further fall in last hour of trading. The S&P CNX Nifty closed at 3850.30; down by 61.10 points.

U.S. light crude oil extended losses, falling 1.1 percent to $55 a barrel, having hit an 18-month low and driven the Reuters/Jefferies CRB Index <.CRB> to its lowest in nearly two years on Tuesday. Analysts said the 9 percent fall in crude prices since the start of the year had forced some investors beating on higher oil prices to cut their losses and sell assets across markets.

Advances 268 Declines 741 Unchanged 9

112 securities have hit their price bands today

The top twenty contracts contributed to around 45% of the total traded volume in Options on individual securities. INFOSYSTCH was the most active option contracts on individual securities traded today with 4928 contracts and RELIANCE was the next most active options contracts with 3728 contracts being traded.

The top ten contracts contributed to around 42% of the total traded volume in Futures on individual securities. RELIANCE was the most active future contracts on individual securities traded today with 36795 contracts and RCOM was the next most active futures contracts with 20596 contracts being traded.

Security listed and admitted to dealings - AVTNPL w.e.f. January 10, 2007.
AVTNPL AVT Natural Products Limited INE488D01013
[http://www.nseindia.com/content/circulars/cmls8348.htm]

Bulk Deals I liked
10-JAN-2007,M&MFIN,M&M FIN. SERVICES LTD,HSBC GLOBAL INVESTMENT FUNDS A/,BUY,1000000,260.00,-
10-JAN-2007,XLTL,XL TELECOM LIMITED,ASIT C MEHTA INVESTMENT INTERRM,BUY,110398,149.26,-
10-JAN-2007,TRICOM,TRICOM INDIA LIMITED,ELARA CAPITAL PLC. A/C ELARA IN,BUY,125000,131.90,-

Reliance plans to produce 30,000 to 40,000 barrels a day starting 2008 from the KG-D6 block in the Bay of Bengal.
Decision within 15 days.

Nuclear Deal Confusion...

Under the bill, the U.S. president would be required to end the export of nuclear materials if India tests another nuclear device. It tested one in 1998.

It also does not guarantee uninterrupted fuel supplies for reactors and prevents India from reprocessing spent fuel.
These conditions were not acceptable to India and this had been conveyed to the U.S.