"AFTER MARKET REPORT"

Good monsoon rains this year will raise farm output, boost rural incomes and lower food inflation managed both key benchmark indices to end in positive terrain, gaining for the third day in a row. The two key benchmark indices -- the barometer index BSE Sensex and the 50-unit S&P CNX Nifty attained their highest closing levels in more than 31 months. The Sensex rose 21.65 points or 0.12%, up close to 126 points from the day's low and off close to 56 points from the day's high.

The market edged lower at the onset of the trading session on weak Asian stocks. The market moved in a narrow band in morning trade. The market came off the lower level in mid-morning trade. The intraday recovery gathered steam as the key benchmark indices moved into positive zone in early afternoon trade. A bout of volatility was witnessed in afternoon trade as the Sensex pared gains, soon after hitting a 31-month high. The market slipped into the red later as European stocks fell. The market cut losses in mid-afternoon trade. The Sensex regained positive zone later.

Foreign Institutional Investors (FIIs) are in a buying spree in India. FIIs bought share worth a net Rs 281.96 crore today, 8 September 2010, as per provisional data from the stock exchanges. Domestic funds sold shares worth a net Rs 98.21 crore. Foreign funds have shares worth a net Rs 1932.75 crore in the first few days this month, as per data from the stock exchanges. The inflow has reached Rs 21427.85 crore in calendar 2010.

European stock markets erased early losses and traded mostly higher Wednesday amid relief over a successful Portuguese debt auction, although bank stocks remained weak. The key benchmark indices in France and Germany were up nearly by 1%. UK's FTSE 100 is up by 22 points. US markets are trading at considerably positive and up by 75 and 26 points in DOW and NASDAQ respectively.

Greece was also in focus after the National Bank of Greece said late Tuesday that it will raise 2.8 billion euros of fresh capital.

Asian stocks fell on Wednesday, with Japan's big exporters among the heaviest losers as a rise in the yen to a new 15-year high threatens to erode their overseas earnings. Japan's Nikkei Average fell 2.18%. In other Asian markets, the key benchmark indices in Hong Kong, South Korea, Taiwan, China and Singapore were down by between 0.11% to 1.46%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1600 shares rose while 1348 shares declined. A total of 118 shares remained unchanged. The breadth was much stronger earlier in the day. BSE clocked turnover of Rs 6124 crore, higher than Rs 5643.59 crore on Tuesday, 7 September 2010.

FOR TOMORROW market trend is positive as of now.

NOTE: Datas are from NSE, Moneycontrol and DP