Smart recovery in the latter part of the day helped the benchmark equity indices to end the extremely volatile session of trade with marginal gains. After witnessing flat start, the markets edged lower tracking weakness in the most of the other Asian shares. They managed to turn positive in early trades. But the recovery remained short-lived and the main indices extended their losses in late morning trades to touch their day's lows as forecast of 7.2% growth in India's gross domestic product (GDP) for 2009-10 by the Centre of Statistical Organization (CSO) against 6.7% witnessed in the last fiscal, fuelled apprehensions about partial rollback of stimulus in the upcoming Union Budget by the government. The key indices witnessed good recovery in the afternoon session led by short covering from traders and positive opening for the European markets. This surge pulled the bourses to day's highs. However, they again slipped in the red during last few minutes of trade and finally ended flat. Capital goods, technology and banking stocks led the recovery while shares from metal, auto and healthcare sectors saw some profit booking in trade. Meanwhile, the stock that was buzzing during the entire session was new listing - Jubilant Foodworks. The stock finished the day with whopping 58% gain compared to its issue price of Rs 145 per share. Finally, the BSE Sensex rose 19.96 points or 0.13% to close at 15,935.61 while the S&P CNX Nifty added 3.15 points or 0.07% to end at 4760.40.

The US Markets once again plunged on Monday and the Dow went below 10000 mark, first time in last three months. The debt worries from European nation led heavy selling in banking shares. Mounting deficits in weaker European economies including Greece, Portugal and Spain have raised questions about the health of the global financial system. The Dow Jones Industrial Average lost 103.84 points, or 1.04%, to 9,908.39. It hadn't closed below 10000 mark since November 4. The broader Standard & Poor's 500 index fell 9.45 points, or 0.89%, to 1,056.74, while the Nasdaq composite index declined by 15.07 points, or 0.70%, to 2,126.05.

Crude prices finally got a halt to their decline on Monday and surged by almost 1 percent. Weakness in dollar and some demand rise due to a powerful snowstorm in the US Mid Atlantic region has made the atmosphere cold. US heating demand this week is expected to be 11.5 percent above normal, the National Weather Service said. Benchmark Crude oil for March delivery settled up 70 cents, or 0.98 percent, at $71.89 a barrel, trading from $70.77 to $72.39 on the New York Mercantile Exchange. In London, March Brent crude ended up 52 cents, or 0.75 percent, at $70.11 a barrel.

The Indian rupee declined on Monday lacking any solid cue. The rupee started weak as the regional equity markets gave an indication of cautious trade in the local markets. Dollar traded stronger compared to euro and other currencies in overseas trade. The choppiness in the local markets weighed on the rupee movement with the fear of fund outflow. The rupee that had closed at a five-week low against dollar on Friday went further low. Finally the rupee closed at 46.81, 9 paise lower compared to its Friday's close of 46.72/73.

The FII on Monday were the net sellers in the equity segment with gross buying of Rs 1517.80 crore against gross sell of Rs 3147.50 crore, while in the debt segment they were the net buyers with a gross purchase of Rs 277.00 crore against gross sales of Rs 142.00 crore.

The US markets plunged again and the Dow breached the 10000 mark for the first time in last three months. The debt concerns of the European nation is putting pressure on the investors risk appetite and has raised worries about the health of the global financial system. The Asian markets have made a mixed start and some of the indices are trading in red. The domestic markets witnessed huge round of volatility in the previous trade and finally managed a modestly higher close. The trade is likely to remain cautious today though some recovery can be seen in later hours of trade.

Support and Resistance: S&P CNX Nifty and BSE Sensex

                                                          Nifty Top volumes

• Production of SAIL has declined 6.1 per cent to 7.83 million tonne against 8.34 million tonne in the April-January period previous fiscal.
• Tata Motors is likely to reopen its bookings for the world's cheapest car 'Nano' before December.
• Bharti Airtel, which agreed to acquire a 70% stake in Warid Telecom (Bangladesh) last month, has registered the name Airtel Bangla to operate in Bangladesh.
• Idea Cellular is in preliminary talks to sell part or whole of its stake in the Indus Towers company.
• NTPC hopes to implement the 500-Mw imported coal-based power project in Sri Lanka by February end.

State-owned Bharat Heavy Electricals (BHEL) has secured Rs 1,016 crore worth of order from Bhutan-based Punatsangchhu Hydroelectric Project Authority (PHPA). This is the single largest contract for the navaratna PSU in the hydro electric pow...

The contracts ...