[R]10:30AM The Sensex advances 1.52% in across-the-board rally on Thursday.[/R]
The Sensex on BSE gained 185.40 points, or 1.52%, to close at 12,389.41. The market-breadth was very strong. For 1,832 shares that advanced, 677 declined and 74 shares remained unchanged. From the 30-issue Sensex stocks, 26 advanced while the rest declined. The turnover on BSE was Rs 3,665 crore, higher than Rs 3,416 crore on Wednesday. The turnover on NSE was Rs 7,363.75 crore.

The rupee advanced on Thursday as the U.S. dollar slipped against other major currencies, and supported by higher Asian stock markets buoying the local currency. Robust capital inflows have given the rupee a 3% boost from a three-year low of 47.04 struck in July. Investors expect these inflows to continue as the central bank maintains a hawkish stance on rates and growth momentum continues.

In what would be the biggest ever acquisition by an Indian company, Tata Steel is reportedly in negotiations to acquire Anglo-Dutch steel company Corus for $10.5 billion.

NYSE may buy 26% stake in BSE, as BSE has already started a process to dilute equity stakes of its member brokers as part of the SEBI’s demutualization scheme, allowing for separate ownership from trading rights.

Most active

Mahindra Gesco Developers was the most-active stock on BSE, with a turnover of Rs 217.94 crore. Reliance Industries (Rs 134.02 crore), Atlanta (Rs 96.35 crore), and Gwalior Chemicals (Rs 76.54 crore) followed close.

Advancers

HDFC Bank led the advancers, up 3.98%, to Rs 928 on a volume of 97,778 shares. The stock experienced high volatility with intra-day high of Rs 975 and low at Rs 900.10. Index heavy Reliance Industries was up 0.58%, to Rs 1,156, on 11.57 lakh shares after reaching high of Rs 1,164.

IT leader Infosys Technologies surged 3.32% to Rs 1,863, on 2.09 lakh shares. It moved in a range of Rs 1,870 and Rs 1,818 for the day. Mahindra Gesco Developers soared 4.44% to Rs 849.50, on 25.77 lakh shares, after the company said it will raise Rs 480 crore by issuing 60 lakh shares at Rs 800 each, to institutional investors.

Reliance Communications advanced 2.55% to Rs 348.25, SBI was up 2.36% to Rs 1,038.90 and Tata Steel jumped 3.11% to Rs 539.65. Satyam Computer surged 1.76% to Rs 817, on expectations that the pharma industry contribution to revenue will grow from 7% to 10%, in the next two years.

Ahlcon Parenterals (up 20% to Rs 64.95), Moser Baer (up 18.89% to Rs 249.20), Petronet LNG (up 20% to Rs 57.90), D Link India (up 19.58% to Rs 102), Triveni Glass (up 14.76% to Rs 38.10) and Tube Investments (up 11.55% to Rs 92.70) also surged.

IT stocks were in high demand today on renewed buying interest, ahead of their second quarter results. Infotech Enterprises (up 2.43% to Rs 211.15), Wipro (up 2.18% to Rs 520.20), Polaris (up 6.37% to Rs 131), Patni Computers (up 1.85% to Rs 389) and TCS (up 0.80% to Rs 996) gained.

Tyre stocks rose despite the fall of price of rubber. Apollo Tyres (up 7.62% to Rs 344.75), JK Industries (up 10% to Rs 147.85), Goodyear India (up 5% to Rs 141.15), CEAT (up 5% to Rs 122.05), Falcon Tyres (up 7.53% to Rs 116.40), TVS Srichakra (up 5% to Rs 108.95) and MRF (up 5% to Rs 4066.05) advanced.

Decliners

Bharti Airtel led the decliners, slipping 0.52% to Rs 458.92, on a volume of 1.16 lakh shares. Simbhaoli Sugar edged down 0.26% to Rs 75.60. It has commissioned an ethanol plant at Chilwaria, UP, with an installed capacity of 60 KLPD. The project was finished in nine months at a cost of over Rs 25 crore.


[R]9:45AM Market opened mixed.[/R]
Stock markets opened lower as a rebound in oil prices inspired investors to do some profit taking, offsetting better-than-expected retail sales in September and lower unemployment claims last week.

Department store and teen retailers posted strong sales in September, buoyed by back-to-school purchases and some unfavorable weather conditions. Bebe Stores (BEBE: chart), Children''s Place (PLCE: chart), and American Eagle Outfitters (AEOS: chart) were among the teen retailers posting notably higher sales. Of the department stores, Federated Department Stores (FD: chart), J.C. Penney (JCP: chart) and Nordstrom Inc. (JWN: chart) posted same-store sales that exceeded estimates.

At the same time, discount retailers struggled in September. Wal-Mart Stores Inc. (WMT: chart) said sales at stores open at least a year rose just 1.3%. Costco Wholesale (COST: chart) posted a 4% same-store sales rise, below estimates. Target (TGT: chart) sales exceeded expectations of a 5% growth, posting 6.7% rise.

Among other companies in focus, Apple Computer (AAPL: chart) fell 1.4 % on corporate news related to company’s stock options. Hewlett-Packard (HPQ: chart) lost 1% after California Attorney pressed criminal charges against former Chairwoman Patricia Dunn and four other officials connected with the company''s investigation into boardroom leaks. In the first hour of trading, the Dow fell 18.25, or 0.15% to 11,832.36. The S&P 500 index fell 1.37, or 0.10, to 1,348.85, and the Nasdaq composite index fell 3.34, or 0.15% to 2,287.61.