Today's Market

Key benchmark indices surged to day's high, reversing early losses,
mirroring firm Asian indices. Volatility was high. The BSE 30-share
Sensex was up 82.73 points, or 0.68%, up 173.07 points from the
day's low. The Sensex hit its highest level in six months. The
broader based 50-shares S&P CNX Nifty index surged past the 3,700
mark for the first time in nearly six months

The market was volatile. It drifted lower in early trade amid
concern US banks are short of capital. The market cut losses later.
It moved between positive and negative zone in early afternoon
trade. The market surged in afternoon trade as Asian stocks rose.

Recovery in the Indian economy triggered a solid rally on the
domestic bourses in the past few days. The rally was also a part of
a sharp surge in global equities triggered by hopes the worst of
the global economic recession may be over. From a 3-year closing
low of 8,160.40 on 9 March 2009, the Sensex jumped 3970.68 points
or 48.65% to 12,131.08 on 5 May 2009.

Sensex goes past 12,000 Mark

Key benchmark indices settled near day's high, striking 7-month
highs, mirroring strong global cues. The barometer index BSE Sensex
gained 731.50 points, or 6.41%, outperforming its global peers.
Strong domestic and global economic data and aggressive build-up of
fresh derivatives positions in May 2009 series triggered a solid
rally on the bourses today, 4 May 2009. The barometer index BSE
Sensex surpassed the psychological 12,000 level.

Activity in Indian factories expanded for the first time in five
months in April 2009 as a swelling orders pipeline pointed to a
tentative recovery, a survey showed on Monday, 4 May 2009. The ABN
AMRO Bank purchasing managers' index (PMI) based on a survey of 500
companies, rose to 53.3 in April 2009 from 49.5 in March 2009,
climbing above the threshold of 50 that separates expansion from
contraction. The latest reading is the highest in seven months and
it has steadily risen after hitting a trough of 44.4 in December
20089.

Manufacturing makes up about 16% of India's gross domestic product.
The boost in manufacturing index came from a surge in new orders.
The new orders index rose to 54.9 in April 2009 from 49.5 in March
2009. Several research notes in the past few days have pointed to
improvement in economic activity in the months ahead.

Financial stocks led gains in European markets today, 4 May 2009,
on improved economic data in the euro-zone. Germany's DAX gained
1.80% and France's CAC 40 index rose 1.16%. The stock market in UK
was shut for a public holiday