NEWS UPDATES

􀂾 JSW Steel plans to invest Rs 3,000 crore in its India projects in 2009-10, a top company official said today.
􀂾 BGR Energy bagged a contract worth Rs 15.5 crore from Maithon Power at Jharkhand for engineering related works.
􀂾 Gail India has proposed to invest Rs 8,000 crore in laying a gas pipeline from Vijaywada in Andhra Pradesh to Vijaipur in Madhya Pradesh.

Market opened on the positive note but remained under pressure throughout the day. It retraced the index below 3300 levels but bounced back in the end. Banking, Reality & capital
goods were beaten down badly in the today's session & the market breadth was also southward inclined. Technically, index is forming flag pattern which is continuation in nature
so breakout from it with strong volume surge will lead the index to test 3500+ levels in the near term. The bottom of the pattern may test 3240 levels so the possibility of downside is
still there.

AsP pOerS tThe M pAroRviKsiEonTa l figures, the BSE 30-share Sensex was down 72.22 points or 0.66% to 10,825.89. At the days high of 11,036.25, the Sensex rose 138.13 points in mid-morning trade. At the days low of 10,715.66, the Sensex fell 182.45 points in afternoon trade. The BSE clocked a turnover of Rs 5,003 crore, lower than Rs 5,109.37 crore on Tuesday 21 Apr09. The market breadth, indicating the overall health of the market, was weak in contrast to a strong breadth earlier in the day. On BSE, 1,097 stocks advanced as compared to 1,439 that
declined. A total of 58 shares remained unchanged. The breadth was much stronger earlier in the day. The S&P CNX Nifty was down 30.45 points or 0.9% to 3,334.85 as per the provisional figures. The NSE turnover was up Rs.13577.00 crore from last trading session’s Rs.15160.41 crore.