Sun Pharmaceutical - Caraco Pharmaceuticals Laboratories (Company''s US subsidiary) announces FDA app

Sun Pharmaceutical Industries Ltd has informed about the Press Release of Caraco Pharmaceutical Laboratories Ltd, i.e. Companys U. S. subsidiary company dated September 26, 2007, as follows :

Caraco Pharmaceutical Laboratories, Ltd, (Amex: CPD) on September 26, 2007 has announced that the US Food and Drug Administration (FDA) has granted final approval for the Companys Abbreviated New Drug Application (ANDA) for Methimazole Tablets USP, 5 mg and 10 mg (Methimazole).

Methimazole is indicated in the medical treatment of hyperthyroidism. Caracos Methimazole is therapeutically equivalent to the FDA reference listed drug (RLD) listed in the Orange Book, Methimazole Tablets USP, 5 mg and 10 mg, respectively. According to IMS Data, for the twelve months ended June 2007, Methimazole had annual sales of approximately $21 million.

Daniel H. Movens, Caracos Chief Executive Officer, said, We are pleased to receive this approval from the FDA. This marks the third approval in the last 30 days and the sixth approval this quarter. This is in addition to the two tentative approvals granted by the FDA during the period. One of the main drivers of our growth is to continue to expand and strengthen our product portfolio. This will bring our total product selection to 41different products represented by 86 various strengths.

Detroit-based Caraco Pharmaceutical Laboratories Ltd, develops, manufactures, markets and distributes generic and private-label pharmaceuticals to the nations largest wholesalers, distributors, drugstore chains and managed care providers.

Market Reports: Market is trading strongly.

The market has gained further momentum. The strong buying is seen in the Metal, It and Realty stocks. The BSE Sensex is trading with a gain of more than 200 points and continued to stay above the physiological 17000 mark. The overall market breadth turns negative as most profit booking is seen in the Mid Cap and Small Cap. Almost 1343 shares are advancing in comparison to 1348 shares that are declining. However the BSE Mid Cap decreased by 20.60 points to 7,332.02 while the Small Cap advanced by 35.91 points to 9,065.25. At 2.31 PM BSE Sensex is at 17,140.49 up by 219.10 points while Nifty is at 4,976.55 up by 36.05 points. State Bank of India is trading higher by (1.14%) at Rs.1870 as the bank is aiming to disburse Rs 150 crore, through two property fairs. Last year, at similar fairs, the bank had approved loans to 3,800 people which amounted to Rs 500 crore, and the final disbursement stood at Rs 80 crore. This year the bank is expecting to approve more than Rs 500 crore and disburse Rs 150 crore, through home loans and car loans. Tata Motors advanced by (0.81%) to trade at Rs.746. The automaker in order to prmote sales has taken an initiative i.e it will offer more cash discounts to counter a four-month sales slump, with interest rates in the South Asian nation at a five-year high. The most active shares on NSE are Reliance Energy trading at Rs.1,105.70 with a total traded value of Rs.48060.23 lakhs followed by Reliance Ltd. trading at Rs.2329 with Rs.45166.46 lakhs. The top gainer in the BSE Sensex is Reliance Energy surged by (8.48%) at Rs.1,113 followed by Infosys Technologies improved by (4.66%) to trade at Rs.1910. BSE Metal index surged by 310.13 points to 13,395.77. The major gainers are Sterlite Industries (7.14%) at Rs.765, Tata Steel (2.90%) to Rs.772.65 followed by Jindal Stainless Steel (1.08%) at Rs.164.40.

Rajesh Exports Board to consider Bonus Issue & Stock Split

Rajesh Exports Ltd has informed that a meeting of the Board of Directors of the Company will be held on October 22, 2007, inter alia, to consider the following:

1. The issue of Bonus Shares.

2. Splitting of existing equity shares of Rs 2 each to equity share of Re 1 each.

Market Commentary: Post Session Market

The market closed the session on a strong positive note as BSE Sensex surged by 229.17 points to close at 17,150.56 while Nifty grew by 60.05 points to close at 5000.55. Both the benchmark indices i.e. BSE Sensex and Nifty touched their lifetime highs. Sensex touched the intraday high of 17,188.40 while Nifty crossed psycholological mark of 5000 during the trading session. The market rallied towards the end on the back of strong global cues. Overall, the market breadth was little weak as 1477 stocks were closed in red and 1298 stocks were ended up in green while 57 stocks remained unchanged in BSE. The BSE mid cap fell 20.66 points to close at 7,331.96 while Small cap manages to close with gains of 17.21 point at 9,046.55.

BSE Metal index surged by 416.96 points to close at 13,502.60 as Sterlite Industries (6.48%), Tata Steel (5.82%), NALCO (4.96%), JSW Steel (2.36%) and SAIL (0.47%) are closed in green.

BSE IT index closed firmly at 4,643.43 as it was up by 141.46 points. Infosys (4.79%), HCL Tech. (3.05%), Satyam (2.56%), Tech Mahindra (2.20%), TCS (1.99%) and Wipro (1.26%) closed in green.

BSE bankex index improved by 111.72 points to close at 9,229.52 as HDFC Bank (4.26%), SBI (2.05%), AXIS Bank (1.61%), ICICI Bank (0.97%) and Andhra Bank (0.74%) closed higher.

BSE oil & gas index grew by 22.16 points to close at 9,639.10 as ONGC (3.74%) and GAIL India (1.15%) closed in green while IOCL (3.09%), RPL (2.77%), HPCL (2.05%) and BPCL (1.27%) closed in red.

BSE Capital goods index closed higher by 36.72 points at 14,691.07 as BEML (2.96%), BHEL (2.60%) and Suzlon energy (0.94%) closed higher while ABB (1.93%), Siemens (0.51%) and L&T (0.21%) closed lower.

BSE Health Care Index closed up by 28.87 points at 3,720.23 as Glennmark (4.90%), Cipla (3.16%), Nicholas Piramal (3.24%), Pfizer (1.38%) and Dr Reddy (1%) closed in positive.

Emmsons International - Collaboration with ETA Star Group for Coal Mining

Emmsons International Ltd has informed that the Company has signed an MOU with Dubai based ETA Star Group to form a Joint Venture for Coal Mining operations in Indonesia. The joint venture Company, hence established in Jakarta (Indonesia) under the name of STAR EMMSONS RESOURCES is in the process of acquiring coal mines in Kalimantan Province of Indonesia, and hopes to commence in-house production of coal in the coming months. ETA STAR GROUP, a conglomerate with 4 Billion Dollar turnover, is planning to set up 1200MW (600 X 2), coal based power plants in South India. This power generation project of ETASTAR GROUP is estimated to have an investment of over Rs 6000 Crores, and will require over 5 million tons of imported coal. The J. V. operations under the flagship Company STAR EMMSONS RESOURCES, are an important step of taking forward the plans of leveraging coal supplies for the IPPs through imported coal. ETA and Emmsons are both trading imported coal from Indonesia, South Africa, China and other African Countries. However, an initiative for acquisition of coal mines, under the present scenario of huge requirements of imported coal in India, is the need of the hour. The Company is confident that collaboration with a large conglomerate like ETA STAR GROUP will indeed enhance Companys operations and growth plans of global expansions.

iGate Global appoints Hari Murthy as Chief Sales and Marketing Officer

iGate Global Solutions Ltd has announced the induction of Hari Murthy into its Executive Management Team as Chief Sales and Marketing Officer. Hari has had a stellar record in client acquisition and growing businesses of all sizes.

Till recently, Hari was the President of American Operations and Head of Peoplesoft Business Unit at Hexaware Technologies.

Hari will lead the transformation of Companys Global Business Development functions. He will report to Phaneesh Murthy, CEO of the Company and will be based in the US.

Market extends rally

The market surged in late-afternoon trade on fresh buying demand for index pivotals. European markets which opened after Indian market, were mixed. Asian markets which opened before Indian market, advanced today, 24 September 2007. US markets posted gains on Friday, 21 September 2007. Turnover was healthy today and it crossed Rs 6,000 crore on BSE by late-afternoon trade. IT pivotals declined further as sustained selling pressure.

At 14:35 IST, the 30-shares BSE Sensex was up 221.10 points or 1.33% to 16,785.33.

The S&P CNX Nifty was up 85.25 points or 1.76% to 4,922.80. It struck an all time high of 4928.40

The market had opened on a buoyant note but come off lower level after an initial sharp surge. At the day's high of 16,820.53, Sensex gained 256.30 points for the day. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs in early trade. Sensex's intra-day low for the day, so far, is at 16,599.66. It oscillated in a band of 220.87 points for the day

The market breadth once again turned negative on BSE with 1403 shares declining as compared to 1314 that advanced. 56 remained unchanged. It was strong in opening trade.

The BSE Mid-Cap index rose 1.58% to 7,313.61 after hitting an all time high of 7,305.31. While the BSE Small-Cap index gained 0.95% to 8,979.49 after hitting an all time high of 9,013.35..

The total turnover on BSE amounted to Rs 6,040 crore by 14:30 IST as compared to Rs 4679 crore by 13:30 IST

Among the 30-member Sensex pack, 22 advanced while the rest declined.

India’s top private sector utility company in terms of revenue Reliance Energy (REL) surged 8.95% to Rs 1100 on 18.73 lakh shares. The stock hit all-time high of Rs 1130.70 in intra-day trade. It was the top gainer from Sensex pack. As per recent reports, REL is scouting for coal mines in Indonesia, Australia, Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers.

National Thermal Power Corporation, the country’s largest power generation company by net sales jumped 4.77% to Rs 196.45 on 35.15 lakh shares. It replaced Dabur India in the S&P CNX Nifty index from today.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 2.49% to Rs 2331 on 5.23 lakh shares. It hit an all time high of Rs 2338 in early trade. RIL said on Saturday, 22 September 2007 that it has struck oil in the deepwater block KG-D4 located in the Krishna Basin. The commercial viability of the discovery is being evaluated. RIL holds 100% participating interest in this block, which spans over an area of 8100 sq. kms. The rumors about RIL’s oil find had already hit the market on Friday, 21 September 2007.

India’s second largest telecom services provider market capitalisation Reliance Communications jumped 3.22% to Rs 598 on high volumes of 32.96 lakh shares. A block deal of 14.10 lakh shares was struck on at Rs 590 per share in early trade.

Larsen & Toubro (L&T), the country’s second largest infrastructure company in terms of market capitalisation, soared 4.10% to Rs 2890.10. As per recent reports, it is close to acquiring a stake in Feedback Ventures, a leading integrated infrastructure services firm. Mission Holdings, a group of people who founded the New Delhi-based Feedback Ventures, holds 36% stake. Other shareholders of the closely held company include DLF, HDFC, IDFC and the Thapar group outfit, NewQuest Corporation.

IT shares extended recent fall. India’s second largest software services exporter Infosys Technologies was the top loser from Sensex pack. It slipped 3.20% to Rs 1764 on 2.25 lakh shares

Other IT pivotals, Satyam Computers (down 2.55% to Rs 408.15), TCS (down 0.90% to Rs 1005.95), were not spared either.

ITC (down 1.56% to Rs 187.80) and Ambuja Cements (down 1.66% to Rs 144.75) were the other losers from Sensex pack.

Adhunik Metaliks jumped 5.86% at Rs 98.50 after its board approved acquiring a majority stake in V Cube Forge (India) for an undisclosed amount. Pune-based V Cube Forge manufactures forged and machined parts for automobiles, railways, and aerospace.

IFCI surged 19.98% to Rs 98.60 on huge volumes of 4.67 crore shares. Nearly 1.10 crore shares changed hands through multiple block deals on BSE and NSE combined.

European markets which opened after Indian market, were mixed today, 24 September 2007. Key benchmark indices in France (up 0.07% to 5,704.69), and United Kingdom (up 0.40% to 6,482.80) rose. However Germany’s DAX was down 0.17% to 7,781.02

Asian markets which opened before Indian market advanced today, 24 September 2007. Hong Kong's Hang Seng (up 2.77% at 26,650.08), Shanghai Composite (up 0.54% to 5,484.56), and Singapore's Straits Times (up 2.73% at 3,639.02) advanced. Stock markets in Japan, South Korea and Taiwan were closed for public holidays.

US stocks posted steady gains on Friday, 21 September 2007 capping a strong week for Wall Street, as investors drew confidence from strong results at Oracle Corp. and a continued sense that lower interest rates should help bolster the economy. The Dow Jones industrial average rose 53.49, or 0.39%, to 13,820.19. Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.00, or 0.46%, to 1,525.75, while the Nasdaq Composite index rose 16.93, or 0.64%, to 2,671.22.

Indian market may, however, turn volatile this week ahead of the expiry of September 2007 futures & options (F&O) contracts on Thursday, 27 September 2007.

Crude oil prices dipped on Monday, 24 September 2007 as oil and gas producers in the Gulf of Mexico restored more output after a mild storm triggered evacuation and production cuts. US crude for November delivery fell 22 cents to $81.40 a barrel.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 762.13 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 277.68 crore on Friday, 21 September 2007

The 30-shares BSE Sensex surged 216.28 points or 1.32% at 16,564.23, an all time closing high on Friday, 21 September 2007. From a recent low of 13,989.11 on 21 August 2007, the Sensex surged 2557.12 points or 18.27% in just 23 trading days to 16,564.23 on Friday, 21 September 2007.

The market posted weekly gains for fifth straight week, with the BSE Sensex surging 960.43 points or 6.16% to 16,564.23 in the week ended Friday, 21 September 2007. This is the biggest weekly gain ever posted by Sensex. The S&P CNX Nifty rose 319.55 points or 7% at 4,837.55 during the week.

As per the data released on Friday, 21 September 2007, inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

Market is expected to continue its recent rally

Market is expected to continue its recent rally, on positive global cues. Asian indices advanced today, 24 September 2007. Hong Kong's Hang Seng (up 0.84% at 26,061.84), Shanghai Composite (up 0.25% to 5,468.51), and Singapore's Straits Times (up 1.66% at 3,601.08). advanced

Market may however turn volatile ahead of the expiry of September 2007 futures & options (F&O) contracts due on Thursday, 27 September 2007.

US stocks posted steady gains on Friday, 21 September 2007 capping a strong week for Wall Street, as investors drew confidence from strong results at Oracle Corp. and a continued sense that lower interest rates should help bolster the economy. The Dow Jones industrial average rose 53.49, or 0.39%, to 13,820.19. Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.00, or 0.46%, to 1,525.75, while the Nasdaq Composite index rose 16.93, or 0.64%, to 2,671.22.

Crude oil prices dipped on Monday, 24 September 2007 as oil and gas producers in the Gulf of Mexico restored more output after a mild storm triggered evacuation and production cuts. US crude for November delivery fell 22 cents to $81.40 a barrel.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 762.13 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 277.68 crore on Friday, 21 September 2007

The 30-shares BSE Sensex surged 216.28 points or 1.32% at 16,564.23, an all time closing high on Friday, 21 September 2007. It also hit an all time high of 16,616.84 in late trade. From a recent low of 13,989.11 on 21 August 2007, the Sensex has surged 2557.12 points or 18.27% to 16,564.23, in just 23 trading days.

The market posted weekly gains for fifth straight week, with the BSE Sensex surging 960.43 points or 6.16% to 16,564.23 for the week ended Friday, 21 September 2007. This is the biggest weekly gain ever posted by Sensex. The S&P CNX Nifty rose 319.55 points or 7% at 4,837.55 during the week.

As per the data released on Friday, 21 September 2007, inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

Turnover crosses Rs 4,500 mark

The market stayed firm in mid-afternoon trade on sustained buying demand for index pivotals. Turnover was healthy today and it crossed Rs 4,500 crore on BSE. European markets which opened after Indian market, were mixed while Asian markets which opened before Indian market, extended early gains today, 24 September 2007. US markets posted gains on Friday, 21 September 2007.

At 13:32 IST, the 30-shares BSE Sensex was up 199.75 points or 1.20% to 16,763.55. It opened higher at 16,697.89 and advanced further to hit an intra-day high of 16,820.53. It intra-day low for the day, so far, is at 16,599.66.

At the day's high of 16,820.53, Sensex gained 256.30 points for the day

The S&P CNX Nifty was up 70.30 points or 1.45% to 4,907.95. It struck an all time high of 4913.35

The market had opened on a buoyant note but come off lower level after an initial sharp surge. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs in early trade.

The market breadth turned negative on BSE with 1384 shares declining as compared to 1294 that advanced. 53 remained unchanged. It was strong in opening trade.

The BSE Mid-Cap index rose 1.31% to 7,294.30 after hitting an all time high of 7,305.31. While the BSE Small-Cap index gained 0.80% to 8,966.37 after hitting an all time high of 9,013.35..

The total turnover on BSE amounted to Rs 4679 crore by 13:30 IST as compared to Rs 3654 crore by 12:30 IST

Among the 30-member Sensex pack, 22 advanced while the rest declined.

India’s top private sector utility company in terms of revenue Reliance Energy (REL) surged 8.95% to Rs 1100 on 17.16 lakh shares. The stock hit all-time high of Rs 1130.70 in intra-day trade. It was the top gainer from Sensex pack. As per recent reports, REL is scouting for coal mines in Indonesia, Australia, Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers.

India’s top small car market by market shares, Maruti Suzuki India rose 4.80% to Rs 974. Last week, Foreign Investment Promotion Board (FIPB) cleared its to form a joint venture for setting up an exhaust parts manufacturing facility in Haryana with Japan's Futaba Industrial Company.

The proposal, which will see an FDI inflow of around Rs 45.90 crores with Futaba holding 51% in the venture.

Bharti Airtel, India’s largest listed cellular services provider by net sales rose 1.90% to Rs 935.50. As per reports, it has got licence to start Direct-To-Home (DTH) services in the country and announced an investment of Rs 150 crores in the first phase to launch nation-wide operations, a move that would bring in much required competition in the DTH segment. Also another set of reports state that Bharti Airtel may get extra spectrum for Delhi and Mumbai under the existing subscriber-base norms.

Leading engineering companies - Larsen & Toubro (up 2.10% to Rs 2846) and Bhel (up 2.38% to Rs 2013) gained on fresh buying.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 2.20% to Rs 2324.50 on 4.02 lakh shares. It hit an all time high of Rs 2338 in early trade. RIL said on Saturday, 22 September 2007 that it has struck oil in the deepwater block KG-D4 located in the Krishna Basin. The commercial viability of the discovery is being evaluated. RIL holds 100% participating interest in this block, which spans over an area of 8100 sq. kms. The rumors about RIL’s oil find had already hit the market on Friday, 21 September 2007.

India’s second largest listed telecom services provider Reliance Communications jumped 3.22% to Rs 598 on high volumes of 31.15 lakh shares. A block deal of 14.10 lakh shares was struck on at Rs 590 per share in early trade.

IT shares extended recent fall. India’s second largest software services exporter Infosys Technologies was the top loser from Sensex pack. It slipped 2.85% to Rs 1770 on 1.82 lakh shares

Other IT pivotals, Satyam Computers (down 1.87% to Rs 411), TCS (down 1.03% to Rs 1004.50), were not spared either

ITC (down 1.56% to Rs 187.80) and Ambuja Cements (down 2.51% to Rs 143.50) were the other losers from Sensex pack.

Reliance Natural Resources was the top traded counter on BSE with turnover of Rs 271.06 crore followed by IFCI (Rs 318.73 crore), Reliance Petroleum (Rs 264.72 crore), Reliance Energy (Rs 189.99 crore), and Reliance Communications (Rs 184.62 crore).

IVRCL Infrastructures & Projects slipped 1.25% to Rs 409.90. It received new orders worth Rs 394.24 crore. The Pune region of the company has received these orders for its building division and for power division.

European markets which opened after Indian market, were mixed today, 24 September 2007. Key benchmark indices from Germany (down 0.29% to 7,772.05), and France (down 0.28% to 5,684.48), declined. However United Kingdom

Asian markets which opened before Indian market, extended early gains today, 24 September 2007. Hong Kong's Hang Seng (up 2.77% at 26,650.08), Shanghai Composite (up 0.54% to 5,484.56), and Singapore's Straits Times (up 2.43% at 3,628.15) advanced. Stock markets in Japan, South Korea and Taiwan were closed for public holidays.

US stocks posted steady gains on Friday, 21 September 2007 capping a strong week for Wall Street, as investors drew confidence from strong results at Oracle Corp. and a continued sense that lower interest rates should help bolster the economy. The Dow Jones industrial average rose 53.49, or 0.39%, to 13,820.19. Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.00, or 0.46%, to 1,525.75, while the Nasdaq Composite index rose 16.93, or 0.64%, to 2,671.22.

Indian market may, however, turn volatile this week ahead of the expiry of September 2007 futures & options (F&O) contracts on Thursday, 27 September 2007.

Crude oil prices dipped on Monday, 24 September 2007 as oil and gas producers in the Gulf of Mexico restored more output after a mild storm triggered evacuation and production cuts. US crude for November delivery fell 22 cents to $81.40 a barrel.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 762.13 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 277.68 crore on Friday, 21 September 2007

The 30-shares BSE Sensex surged 216.28 points or 1.32% at 16,564.23, an all time closing high on Friday, 21 September 2007. The barometer index hit all-time high of 16,616.84 in late trade on that day. From a recent low of 13,989.11 on 21 August 2007, the Sensex surged 2557.12 points or 18.27% in just 23 trading days to 16,564.23 on Friday, 21 September 2007.

The market posted weekly gains for fifth straight week, with the BSE Sensex surging 960.43 points or 6.16% to 16,564.23 in the week ended Friday, 21 September 2007. This is the biggest weekly gain ever posted by Sensex. The S&P CNX Nifty rose 319.55 points or 7% at 4,837.55 during the week.

As per the data released on Friday, 21 September 2007, inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

Tamil Nadu Newsprint and Papers

TNPL is poised to tap growth opportunities in the paper industry with its capacity expansion which would assist the company tide over the cost pressures that the industry is facing. Better price realisations and higher volumes would aid in revenue and EBIDTA growth. With its expansion, which will hike its capacities to 3.65 lakh TPA with expected capex of Rs 6800 mn, this incremental capacity will come on stream by September 2009. This capex will be funded from Rs 1800 mn from internal accruals & the rest by fresh debt.

Sensex strikes all time high

The market which rebounded from lower levels in mid-afternoon trade propelled by buying demand for index pivotals stayed firm. Earlier, the market come off higher level in mid-morning trade. Before that it had recovered from lower level after it had slipped into the red in early trade.

Total turnover on BSE crossed the Rs 6000 crore mark. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs. Battered It pivotals recovered some ground from day's low.

Asian markets, which opened before Indian markets, were mixed today, 21 September 2007. US markets finished lower yesterday, 20 September 2007. European markets, which opened after Indian markets, were in the green.

Inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

At 14:28 IST, the 30-shares BSE Sensex was up 65.81 points or 0.40% to 16,413.76. It opened slightly higher at 16,308.09 and slipped to touch intra-day low of 16,308.09. It hit an all time high of 16,440 in intra-day trade.

The S&P CNX Nifty surged 48.90 points or 1.03% to 4,796.45, boosted by some of the non-Sensex constituents in the index. It hit an all time high of 4,803.90

A number of stocks are common in the two niche indices viz. 30-share BSE Sensex and 50-share Nifty. But Nifty being broader based index, it has more constituents and some of the Nifty constituents are not a part of Sensex.

The market breadth was negative on BSE with 1550 shares declining as compared to 1180 that advanced. 57 remained unchanged

The BSE Mid-Cap index rose 0.98% to 7,202.87 after hitting an all time high of 7,231.90. The BSE Small-Cap index gained 0.36% to 8,907.68, after hitting an all time high of 8,964.29. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 6389 crore by 14:30 IST as compared to Rs 5159 crore by 13:30 IST boosted by 4 massive block deals of 1.62 crore shares each struck on Ambuja Cements counter on BSE in opening trade. These deals were executed at an average rate of Rs 149.48 per share. Ambuja Cements was the top traded counter on BSE with total turnover of Rs 1026.92 crore. The scrip slipped 0.10% to Rs 146 on huge volumes of 6.87 crore shares.

Among the 30-member Sensex pack, 18 advanced while the rest declined.

IT stocks recovered from lower levels, on value buying. India’s fourth largest software services exporter Satyam Computers lost 3.28% to Rs 408 on 8.59 lakh shares. It was the top loser from Sensex pack.

Other IT pivotals were not spared either. Infosys Technologies (down 0.93% to Rs 1793), and TCS (down 1.38% to Rs 987) slipped. Wipro rose 0.21% to Rs 434.80.

Wipro hit an 52-week low of Rs 425 while TCS touched a 52-week low of Rs 978 in intra-day trade.

Infosys Technologies ADR slipped 4.59% to $47.02 overnight on Nasdaq. Other IT ADRs also edged lower. Wipro (down 2.74% to $ 13.83), Patni Computer Systems (down 2.33% to $ 23.28), and Satyam Computers (down 3.70% to $24.76) declined.

The Indian rupee was trading at 39.87, slightly firmer as compared to yesterday’s (20 September 2007), closing of 39.89/39.90. A rise in rupee impacts the margins of IT companies as they earn over 50% of revenues from exports

India’s top private sector utility company in terms of revenue Reliance Energy (REL) surged 2.87% to Rs 1017 on 9.94 lakh shares. The stock hit all-time high of Rs 1033 in intra-day trade. It was the top gainer from Sensex pack. As per recent reports, REL is scouting for coal mines in Indonesia, Australia, Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers. It also plans to raise $12.0-$12.5 billion in debt over the next seven to eight years to expand generation capacity nearly 16 times to 15,000 mega watt

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) recovered sharply from its day’s low of Rs 2151.10. It was now up 2.61% to Rs 2243 on 5.53 lakh shares. It hit an all-time high of Rs 2250. As per reports it has found oil in its D4 block in the Krishna Godavari (KG) Basin. The company completed the technical testing in the block KG (D4) on 8 September 2007 and is in the process of informing the Directorate General of Hydrocarbons (DGH). The company had started drilling the third well in the block from 16 July 2007.

Reliance Natural Resources surged 32% to Rs 74.90 on huge volume of 7.85 crore shares on reports that the company has applied for a license to undertake city gas distribution business in Delhi, Mumbai, Gurgaon and Noida.

ICRA rose 0.63% to Rs 1026 after it signed a memorandum of understanding with Dena Bank for rating the bank's loans.

United Breweries soared 11.30% to Rs 365 after it said its board will meet on 28 September 2007 to consider rights issue.

Camlin gained 2.38% to Rs 170 after it fixed board meeting on 24 September 2007 to make preferential allotment to foreign institutional investors.

Meanwhile, foreign institutional investors' net inflow in the country crossed $10 billion so far in this year with an investment of $5.75 billion in the month of July 2007, highest ever in a month. FIIs made a net purchase worth about $10.5 billion in equity and debt markets since the beginning of 2007, topping the total net investment of $8.87 billion in the entire year 2006. Total FII inflow so far in the country is $61 billion. The number of FIIs registered with the market regulator has increased to 1,063 in July 2007 from 934 last year.

European markets, which opened after Indian markets, were trading with gains. Key benchmark indices from United Kingdom (up 0.45% to 6,457.08), Germany (up 0.34% to 7,761.20), and France (up 0.28% to 5,704.47), advanced

Asian markets which opened before Indian markets, were mixed today, 21 September 2007. Taiwan Weighted (up 1.36% at 9,105.28), Hang Seng (up 0.54% at 25,839.78), and South Korea's Seoul Composite (up 0.54% to 1,919.26), rose

Singapore's Straits Times (down 0.18% to 3,546.18) and Japan's Nikkei (down 0.62% or at 16,316.74), slipped

US stocks retreated yesterday, 20 September 2007 impacted by mixed earnings reports, a tumbling dollar and surging oil prices. The Dow Jones Industrial Average fell 48.86 points, or 0.35%, to 13,766.70. Broader stock indices also declined. The Standard & Poor's 500 index fell 10.28 points, or 0.67%, to 1,518.75, and the technology-dominated Nasdaq Composite index fell 12.19 points, or 0.46%, to 2,654.29.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 1627.44 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 564.28 crore on Thursday, 20 September 2007

Crude oil prices held near $82 a barrel on Friday, 21 September 2007 after hitting a record of $84.10 the previous day, 20 September 2007 as a tropical depression forced the shutdown of Gulf of Mexico output and sparked supply fears ahead of peak winter fuel demand. US crude for November delivery, the new front month, dipped 6 cents to $81.72 a barrel. London Brent November crude rose 3 cents to $79.12 per barrel.

The 30-shares BSE Sensex rose 25.20 points or 0.15% at 16,347.95, an all time closing high, on Thursday, 20 September 2007. It hit an all-time high of 16,415.88 in intra-day trade on that day. The S&P CNX Nifty gained 15.20 points or 0.32% at 4,747.55, an all time closing high, on Thursday, 20 September 2007. It struck an all-time high of 4759.55 in intra-day trade

Sensex strikes all-time high above 16,600 in late rally

The market surged towards the latter part of the trading session led by propelled by heavy buying in index pivotals especially for Reliance group stocks. Total turnover on BSE jumped above the Rs 8000 crore mark. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs. IT pivotals bounced back after initial slide

Asian markets, which opened before Indian markets, were mixed today, 21 September 2007. European markets, which opened after Indian markets, were in the green. US markets finished lower yesterday, 20 September 2007.

Inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

The 30-shares BSE Sensex surged 252.24 points or 1.54% to 16,600.19, as per provisional closing. It opened slightly higher at 16,308.09 and slipped to touch intra-day low of 16,308.09. from here it staged a solid rally to hit an all time high of 16,616.84 in late trade.

The market came off higher level in mid-morning trade. Before that it had recovered from lower level after it had slipped into the red in early trade.

The S&P CNX Nifty surged 100 points or 2.11% to 4,847.55, as per provisional closing boosted by some of the non-Sensex constituents in the index. It hit an all time high of 4,855.70

A number of stocks are common in the two niche indices viz. 30-share BSE Sensex and 50-share Nifty. But Nifty being broader based index, it has more constituents and some of the Nifty constituents are not a part of Sensex.

The market breadth was negative on BSE with 1615 shares declining as compared to 1149 that advanced. 51 remained unchanged

As per provisional closing, the BSE Mid-Cap index rose 0.95% to 7,200.33 after hitting an all time high of 7,231.90. The BSE Small-Cap index gained 0.22% to 8,895.88, after hitting an all time high of 8,964.29. Both these indices underperformed the Sensex.

The total turnover on BSE surged above the Rs 8000 crore mark. It amounted to Rs 8198 crore as compared to Rs 6389 crore by 14:30 IST boosted by 4 massive block deals of 1.62 crore shares each struck on Ambuja Cements counter on BSE in opening trade. These deals were executed at an average rate of Rs 149.48 per share. Ambuja Cements was the top traded counter on BSE with total turnover of Rs 1053.05 crore. The scrip rose 1.95% to Rs 149 on huge volumes of 7.05 crore shares.

Among the 30-member Sensex pack, 19 advanced while the rest declined.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) recovered sharply from its day’s low of Rs 2151.10. It advanced 4.56% to Rs 2292 on 8.70 lakh shares. It hit an all-time high of Rs 2294. As per reports it has found oil in its D4 block in the Krishna Godavari (KG) Basin. The company completed the technical testing in the block KG (D4) on 8 September 2007 and is in the process of informing the Directorate General of Hydrocarbons (DGH). The company had started drilling the third well in the block from 16 July 2007.

State Bank of India (up 4.02% to Rs 1830), Bharti Airtel (up 3.52% to Rs 922.25), and Hindustan Unilever (up 3.13% to Rs 220.85), were the other gainers from the Sensex pack.

India’s top private sector utility company in terms of revenue Reliance Energy (REL) gained 2.46% to Rs 1012 on 12.32 lakh shares. The stock hit all-time high of Rs 1033 in intra-day trade. It was the top gainer from Sensex pack. As per recent reports, REL is scouting for coal mines in Indonesia, Australia, Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers. It also plans to raise $12.0-$12.5 billion in debt over the next seven to eight years to expand generation capacity nearly 16 times to 15,000 mega watt

India's largest engineering & construction firm by revenue Larsen & Toubro climbed up 1.23% to Rs 2780 on recent reports that the company is eyeing a stake in Feedback Ventures, a leading integrated infrastructure services firm.

India’s largest oil exploration company in terms of market capitalisation Oil and Natural Gas Corporation (ONGC) gained 2.44% to Rs 927.50. It has reportedly sought a steep hike in the price of gas to Rs 4,500 per thousand cubic metre from the present Rs 3,200 per thousand cubic metre. ONGC hopes to gain Rs 2000 crore in revenues annually if prices were raised.

IT stocks saw high volatility today. They declined in early trade but later staged a sharp recovery on value buying.

India’s third largest software services exporter Wipro rose 1.70% to Rs 440.85. It had slipped to 52-week low of Rs 425 earlier during the day.

Satyam Computers was down 0.31% to Rs 420, off day's low of Rs 401.50. Infosys Technologies gained 1.40% to Rs 1793, off session's low of Rs 1751.50. TCS gained 1.72% to Rs 1018 after touching 52-week low of Rs 978 earlier during the day.

Infosys Technologies ADR slipped 4.59% to $47.02 overnight on Nasdaq. Other IT ADRs also edged lower. Wipro (down 2.74% to $ 13.83), Patni Computer Systems (down 2.33% to $ 23.28), and Satyam Computers (down 3.70% to $24.76) declined.

The Indian rupee was trading almost unchanged 39.90, as compared to yesterday’s (20 September 2007), closing of 39.89/39.90. A rise in rupee impacts the margins of IT companies as they earn over 50% of revenues from exports

India’s top power generation company in terms of net profit, NTPC lost 2.49% to Rs 184.40 on 62.13 lakh shares. It was the top loser from Sensex pack.

ITC (down 2.20% to Rs 189.65), Hindalco (down 1.33% to Rs 159.95), and Cipla (down 0.89% to Rs 167.45), were the other losers from Sensex pack.

Reliance Natural Resources surged 34.68% to Rs 76.50 on huge volumes of 9.44 crore shares on reports that the company has applied for a license to undertake city gas distribution business in Delhi, Mumbai, Gurgaon and Noida. It hit an all time high of Rs 79.20 on BSE

Meanwhile, foreign institutional investors' net inflow in the country crossed $10 billion so far in this year with an investment of $5.75 billion in the month of July 2007, highest ever in a month. FIIs made a net purchase worth about $10.5 billion in equity and debt markets since the beginning of 2007, topping the total net investment of $8.87 billion in the entire year 2006. Total FII inflow so far in the country is $61 billion. The number of FIIs registered with the market regulator has increased to 1,063 in July 2007 from 934 last year.

European markets, which opened after Indian markets, were trading with gains. Key benchmark indices from United Kingdom (up 0.45% to 6,457.08), Germany (up 0.46% to 7,770.13), and France (up 0.28% to 5,704.47), advanced

Asian markets which opened before Indian markets, were mixed today, 21 September 2007. Taiwan Weighted (up 1.36% at 9,105.28), Hang Seng (up 0.56% at 25,843.76), and South Korea's Seoul Composite (up 0.54% to 1,919.26), rose

Singapore's Straits Times (down 0.29% to 3,542.22) and Japan's Nikkei (down 0.62% or at 16,316.74), slipped

US stocks retreated yesterday, 20 September 2007 impacted by mixed earnings reports, a tumbling dollar and surging oil prices. The Dow Jones Industrial Average fell 48.86 points, or 0.35%, to 13,766.70. Broader stock indices also declined. The Standard & Poor's 500 index fell 10.28 points, or 0.67%, to 1,518.75, and the technology-dominated Nasdaq Composite index fell 12.19 points, or 0.46%, to 2,654.29.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 1627.44 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 564.28 crore on Thursday, 20 September 2007

Crude oil prices held near $82 a barrel on Friday, 21 September 2007 after hitting a record of $84.10 the previous day, 20 September 2007 as a tropical depression forced the shutdown of Gulf of Mexico output and sparked supply fears ahead of peak winter fuel demand. US crude for November delivery, the new front month, dipped 6 cents to $81.72 a barrel. London Brent November crude rose 3 cents to $79.12 per barrel.

The 30-shares BSE Sensex rose 25.20 points or 0.15% at 16,347.95, an all time closing high, on Thursday, 20 September 2007. It hit an all-time high of 16,415.88 in intra-day trade on that day. The S&P CNX Nifty gained 15.20 points or 0.32% at 4,747.55, an all time closing high, on Thursday, 20 September 2007. It struck an all-time high of 4759.55 in intra-day trade

Sensex, Nifty strike new highs

The market surged towards the latter part of the trading session led heavy buying in index pivotals especially for Reliance group stocks. Total turnover on BSE jumped above the Rs 8000 crore mark. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs. IT pivotals bounced back after initial slide

Asian markets, which opened before Indian markets, settled on mixed note today, 21 September 2007. European markets, which opened after Indian markets, were in the green. US markets finished lower yesterday, 20 September 2007.

Inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

The 30-shares BSE Sensex surged 216.28 points or 1.32% at 16,564.23, an all time closing high. It opened slightly higher at 16,308.09 and slipped to touch intra-day low of 16,308.09. From here it staged a solid rally to hit an all time high of 16,616.84 in late trade.

The market came off higher level in mid-morning trade. Before that it had recovered from lower level after it had slipped into the red in early trade.

From a recent low of 13,989.11 on 21 August 2007, the Sensex has surged 2557.12 points or 18.27% to 16,564.23, in just 23 trading days.

The S&P CNX Nifty surged up 90 points or 1.90% at 4,837.55, an all time closing high. The sharper surge in Nifty when compared to Sensex was due to rally in some of the non-Sensex constituents in the index. Nifty hit an all time high of 4,855.70. The Nifty September 2007 futures settled at 4863, a sharp premium of 25.45 points as compared to spot closing

A number of stocks are common in the two niche indices viz. 30-share BSE Sensex and 50-share Nifty. But Nifty being broader based index, it has more constituents and some of the Nifty constituents are not a part of Sensex.

The market breadth was negative on BSE with 1615 shares declining as compared to 1149 that advanced. 51 remained unchanged

The BSE Mid-Cap index rose 0.94% to 7,199.92 after hitting an all time high of 7,231.90. The BSE Small-Cap index gained 0.22% to 8,895.88, after hitting an all time high of 8,964.29. Both these indices underperformed the Sensex.

The total turnover on BSE surged above the Rs 8000 crore mark co. It amounted to Rs 8198 crore compared to Rs 7221 crore yesterday, 20 September 2007.

Four massive block deals of 1.62 crore shares each were struck on Ambuja Cements counter on BSE in opening trade. These deals were executed at an average rate of Rs 149.48 per share. Ambuja Cements was the top traded counter on BSE with total turnover of Rs 1053.05 crore. The scrip rose 1.95% to Rs 149 on huge volumes of 7.05 crore shares.

The NSE F&O turnover was Rs 75,928.77 crore as compared to Rs 58327.40 crore yesterday, 20 September 2007

Most of the sectoral indices on BSE posted gains. BSE Realty index (up 1.54% to 9,183.44), BSE Oil and Gas Index (up 3.55% at 9,340.05) and BSE TecK index (down 1.62% to 3,638.25) outperformed the Sensex.

BSE Auto Index (up 1.10% at 5,193.50), BSE PSU index (up 1.28% to 7,780.84), BSE Capital Goods Index (up 0.89% at 14,520.17), BSE Consumer Durables index (down 0.35% to 4,748), BSE FMCG Index (down 0.59% at 2,152.99), BSE Metal Index (up 0.70% at 12,812.76), BSE Health Care Index (down 0.54% at 3,654.24), BSE Bankex (up 0.59% at 8,739.84) and BSE IT Index (up 0.86% at 4,428.34) were underperformers

Among the 30-member Sensex pack, 19 advanced while the rest declined.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) recovered sharply from its day’s low of Rs 2151.10. It advanced 4.56% to Rs 2292 on 8.70 lakh shares. It hit an all-time high of Rs 2294. As per reports it has found oil in its D4 block in the Krishna Godavari (KG) Basin. The company completed the technical testing in the block KG (D4) on 8 September 2007 and is in the process of informing the Directorate General of Hydrocarbons (DGH). The company had started drilling the third well in the block from 16 July 2007.

State Bank of India (up 4.02% to Rs 1830), Bharti Airtel (up 3.52% to Rs 922.25), and Hindustan Unilever (up 3.13% to Rs 220.85), were the other gainers from the Sensex pack.

India’s top private sector utility company in terms of revenue Reliance Energy (REL) gained 2.46% to Rs 1012 on 12.32 lakh shares. The stock hit all-time high of Rs 1033 in intra-day trade. It was the top gainer from Sensex pack. As per recent reports, REL is scouting for coal mines in Indonesia, Australia, Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers. It also plans to raise $12.0-$12.5 billion in debt over the next seven to eight years to expand generation capacity nearly 16 times to 15,000 mega watt

India's largest engineering & construction firm by revenue Larsen & Toubro climbed up 1.23% to Rs 2780 on recent reports that the company is eyeing a stake in Feedback Ventures, a leading integrated infrastructure services firm.

India’s largest oil exploration company in terms of market capitalisation Oil and Natural Gas Corporation (ONGC) gained 2.44% to Rs 927.50. It has reportedly sought a steep hike in the price of gas to Rs 4,500 per thousand cubic metre from the present Rs 3,200 per thousand cubic metre. ONGC hopes to gain Rs 2000 crore in revenues annually if prices were raised.

IT stocks saw high volatility today. They declined in early trade but later staged a sharp recovery on value buying.

India’s third largest software services exporter Wipro rose 1.70% to Rs 440.85. It had slipped to 52-week low of Rs 425 earlier during the day.

Satyam Computers was down 0.31% to Rs 420, off day's low of Rs 401.50. Infosys Technologies gained 1.40% to Rs 1793, off session's low of Rs 1751.50. TCS gained 1.72% to Rs 1018 after touching 52-week low of Rs 978 earlier during the day.

Infosys Technologies ADR slipped 4.59% to $47.02 overnight on Nasdaq. Other IT ADRs also edged lower. Wipro (down 2.74% to $ 13.83), Patni Computer Systems (down 2.33% to $ 23.28), and Satyam Computers (down 3.70% to $24.76) declined.

The Indian rupee was trading almost unchanged 39.89, as compared to yesterday’s (20 September 2007), closing of 39.89/39.90. A rise in rupee impacts the margins of IT companies as they earn over 50% of revenues from exports

India’s top power generation company in terms of net profit, NTPC lost 2.49% to Rs 184.40 on 62.13 lakh shares. It was the top loser from Sensex pack.

ITC (down 2.20% to Rs 189.65), Hindalco (down 1.33% to Rs 159.95), and Cipla (down 0.89% to Rs 167.45), were the other losers from Sensex pack.

Reliance Natural Resources surged 34.68% to Rs 76.50 on huge volumes of 9.44 crore shares on reports that the company has applied for a license to undertake city gas distribution business in Delhi, Mumbai, Gurgaon and Noida. It hit an all time high of Rs 79.20 on BSE

Reliance group stocks were in spotlight on heavy buying demand. Reliance Petroleum (up 11.10% to Rs 154.25 on 2.88 crore shares), Reliance Capital (up 1.95% to Rs 1541.30 on 8.46 lakh shares), Reliance Industrial Infrastructure (up 10% to Rs 1043.10 on 60,354 shares), Reliance Communication (up 2.22% to Rs 579.05 on 20.43 lakh shares), Adlabs Films (up 9.18% to Rs 549) and IPCL (up 5.27% to Rs 454.60) surged.

Jindal Steel & Power jumped 9.66% to Rs 5371.20. Earlier some reports suggested that the company is planning to diversify into coal mining in overseas markets, coal and power trading and chartered air services.

Mercator Lines rose 1.84% to Rs 69.35 after it on 20 September 2007 acquired a 2006 built vessel (dredger). The company made this announcement after market hours on Thursday, 20 September 2007.

Ashapura Minechem gained 2.85% to Rs 438 after it fixed 19 October 2007 as record date for the purpose of issue of 1:1 bonus shares. The company made this announcement after market hours on Thursday, 20 September 2007.

ICRA rose 0.33% to Rs 1023 after it signed a memorandum of understanding with Dena Bank for rating the bank's loans.

United Breweries soared 9.32% to Rs 358.50 after it said its board will meet on 28 September 2007 to consider rights issue.

Punj Lloyd rose 2.12% to Rs 313 on recent reports that Pipavav Shipyard is raising $125 million private equity through pre-IPO deals.

Sun TV Network gained 0.45% to Rs 355. Earlier this month, Sun TV had acquired 48.9% stake in Red FM, promoted by NDTV. In return (on a swap ratio basis), the Red FM promoters had picked up 35% stake in South Asia FM, the subsidiary of the company.

Petron Engineering Construction jumped 19.10% to Rs 267.45 after its net profit jumped 97.4% to Rs 2.29 crore on 15.8% rise in sales to Rs 63.51 crore in Q1 June 2007 over Q1 June 2006.

Financial Technologies (India) rose 0.51% to Rs 2705.25 after it won regulatory approval to set up India's first national power exchange, The Indian Energy Exchange, an electronic bourse.

PTC India surged 6.94% to Rs 90.15 after it agreed to take on 26% stake in IEX and Tata Power Company, Reliance Energy and Rural Electrification Corp have also agreed to a stake in IEX. Adani Enterprises and IDEC will also take part in the consortium, the release added.

Tezpore Tea Company jumped 10% at Rs 42.60 after it said it had entered into a deal to sell its Merryview tea estate to Dalmia Tea Plantations & Industries for an undisclosed amount.

Meanwhile, foreign institutional investors' net inflow in the country crossed $10 billion so far in this year with an investment of $5.75 billion in the month of July 2007, highest ever in a month. FIIs made a net purchase worth about $10.5 billion in equity and debt markets since the beginning of 2007, topping the total net investment of $8.87 billion in the entire year 2006. Total FII inflow so far in the country is $61 billion. The number of FIIs registered with the market regulator has increased to 1,063 in July 2007 from 934 last year.

European markets, which opened after Indian markets, extended early gains. Key benchmark indices from United Kingdom (up 0.82% to 6,481.60), Germany (up 0.90% to 7,804.69), and France (up 0.40% to 5,711.25), advanced

Asian markets which opened before Indian markets, settled on mixed note today, 21 September 2007. Taiwan Weighted (up 1.36% at 9,105.28), Hang Seng (up 0.56% at 25,843.76), and South Korea's Seoul Composite (up 0.54% to 1,919.26), rose

Singapore's Straits Times (down 0.29% to 3,542.22) and Japan's Nikkei (down 0.62% or at 16,316.74), slipped

US stocks retreated yesterday, 20 September 2007 impacted by mixed earnings reports, a tumbling dollar and surging oil prices. The Dow Jones Industrial Average fell 48.86 points, or 0.35%, to 13,766.70. Broader stock indices also declined. The Standard & Poor's 500 index fell 10.28 points, or 0.67%, to 1,518.75, and the technology-dominated Nasdaq Composite index fell 12.19 points, or 0.46%, to 2,654.29.

Crude oil prices held near $82 a barrel on Friday, 21 September 2007 after hitting a record of $84.10 the previous day, 20 September 2007 as a tropical depression forced the shutdown of Gulf of Mexico output and sparked supply fears ahead of peak winter fuel demand. US crude for November delivery, the new front month, dipped 6 cents to $81.72 a barrel. London Brent November crude rose 3 cents to $79.12 per barrel.