Market to continue its upward journey

The market to is expected to continue its upward journey tracking firm US and Asian markets. The Sensex advanced 375.21 points or 2.51% at 15,307.98, on Wednesday, 8 August 2007. The S&P CNX Nifty advanced 105.75 points or 2.43% at 4,462.10, on the same day.

Asian stocks climbed early today, 9 august 2007 with technology counters such as Advantest Corp. and Sony Corp. pacing gains in Japan while Samsung Electronics led the advance in South Korea in the wake of US tech stocks' gains. Nikkei rose 1.24% at 17,240.99

Hang Seng surged (up 0.93% at 22,746.97), Singapore's Straits Times (up 3.37% at 3,413.17), Taiwan Weighted (up 0.86% at 9,177.87) and South Korea's Seoul Composite (up 0.40% at 1,911.09) gained.

Stocks surged yesterday, 8 August 2007 as solid results in the technology arena and renewed demand for risky debt soothed investors a day after the Federal Reserve said the economy should keep expanding. The Dow rose 153.56 points, or 1.14%, to 13,657.86. The Standard & Poor's 500 index rose 20.78 points, or 1.41%, to 1,497.49. The S&P has had its biggest three-day point gain since October 2002. The technology-dominated Nasdaq Composite index advanced 51.38 points, or 2.01%, to 2,612.98.

As per provisional data, foreign institutional investors (FIIs) bought shares worth a net Rs 86.96 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 216.43 crore on Wednesday, 8 August 2007.

Crudeprices, continued to hover around the $72 mark on signs that US gasoline demand may have peaked as the summer driving season neared to a close there. It was trading at $72.33, up $0.18, on the Nymex in early morning trade.