Today Market Report

BSE 30-share Sensex was almost unchanged at 11,330.58, off close to
50 points from the day's high and up close to 150 points from the
day's low.

Banking stocks extended gains as bond prices rose. Index
heavyweight Reliance Industries recovered. IT stocks remained weak
even as cement stocks gained.

After a weak opening caused by weakness in Asian stocks, Indian
stocks had bounced back shortly.

The expiry of the near-month derivatives contracts has been
advanced to 20 April 2009 from 30 April 2009 as the stock market
remains closed on 30 April 2009 on account of voting for the
parliamentary elections in Mumbai on 30 April 2009. Rollover of
Nifty positions from April 2009 series to May 2009 series stood at
38% while those of stock futures were 26%, as on Friday, 24 April
2009.

Political uncertainty may lead to volatile swings on the bourses in
the next few weeks with polling underway for India's 15th Lok
Sabha. The month-long parliamentary elections that began on 16
April 2009 will conclude on 13 May 2009 with results due on 16 May
2009. Poll estimates point to a fractured mandate.

Asian stocks slipped on Monday as the outbreak of swine flu in
North America hurt shares of airlines and transport companies. Key
benchmark indices in China, Hong Kong, Taiwan, South Korea, and
Singapore fell by between 0.62% and 2.99%. But Japan's Nikkei rose
0.02%.

Trading in US index futures showed the Dow could fall 119 points at
the opening bell on Monday, 27 April 2009.