Key benchmark equity indices managed to settle in the green on Thursday even after remaining subdued till early noon trades. Markets started the day on a weak note tracking bleak global cues and remained quiet in the negative terrain till noon trades but after that the buying activity intensified which pulled the key benchmark indices in the positive zone. Meanwhile, the markets lacked steam to conquer their intermediate highs as index heavyweight -- Reliance Industries (RIL) -- saw some profit booking towards the end. The central bank's move of tightening foreign borrowing rules for companies also hurt sentiments in trade. Investors remained cautious as rising food inflation is putting pressure on the Reserve Bank of India (RBI) to take corrective steps sooner than later. Capital goods, banking and power counters witnessed some value picking in the day's trade while consumer durables counter was targeted by the bears. Finally, the BSE Sensex gained 64.09 points or 0.37% to end at 17,189.31, while the S&P CNX Nifty added 22.65 points or 0.44% to close at 5134.65.

The US markets closed with modest gains on Thursday after a choppy session led by mixed economic cues. The markets declined in beginning after the jobless benefits claiming numbers increased but the better trade figures helped offset mixed jobs numbers, the weakness in dollar too supported the markets. The Commerce Department reported that the rising exports have helped narrow the nation's trade gap to $32.9 billion in October. The Dow Jones industrial average added 66.78 points, or 0.67%, to 10,405.83.The Standard & Poor's 500 index was up by 6.40 points, or 0.58, to 1,102.35, while the Nasdaq composite index closed with gains of 7.13, or 0.33, to 2,190.86.

Crude prices declined for yet another day on Thursday, and during the trade crude dipped below $70 for the first time in two months. It was the seventh consecutive decline for the crude after the number of US workers filing new claims for jobless benefits rose more than expected last week. Benchmark crude for January delivery gave up 13 cents to settle at $70.54 a barrel on the Nymex. Prices dropped as low as $69.81 a barrel earlier in the day. In London, Brent crude for January delivery fell 53 cents to settle at $71.86 on the ICE Futures exchange.

The Indian rupee declined on Thursday, the domestic currency was under pressure since beginning despite the weakness in dollar overseas. Though there was some recovery seen in the mid of the day but the apex bank's decision to withdraw  concessions on overseas borrowing for Indian firms kept the rupee under pressure for whole day, while the dollar demand from oil firms too was weighing down the sentiments. Finally the rupees closed at 46.65, 11 paise lower compared to its Wednesday's close of 46.54/55.

The FII on Thursday were the net sellers in the equity segment with gross buying of Rs 2105.80 crore against gross sell of Rs 2402.70 crore, while in the debt segment they were the net buyers with a gross purchase of Rs 210.90 crore against gross sales of Rs 107.70 crore.

The US markets closed with modest gains on Thursday though the economic signals were mixed but the markets kept their spirit high and S&P 500 once again closed above 1100 mark. The Asian markets have made a good start and the Chinese markets are jubilant with the better than expected industrial output number while other indices too are trading up barring the Malaysian market. The domestic markets made a positive close in previous session and are likely to maintain the momentum. The monthly IIP number are to be announced today and are likely to remain good considering the low base effect. The Cox & Kings is going to be listed on the bourses today.

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

                                                          Nifty Top volumes

• RCom has bagged contracts to develop telecom infrastructure in Kerala, Mumbai and Maharashtra circles.
• Idea Cellular is planning to offer Amar Chitra Katha on Mobile to its customers.
• BHEL is planning to recruit about 4,000 persons, including executive engineers annually, at least for the next three years.
• PNB has agreed to sell 26% stake in its wholly owned housing finance subsidiary, PNB Housing Finance, to the US-based Destimoney Enterprises.
• Infosys Technologies is likely to make 13000 campus offers to fresh engineering graduates.

The orders are for earth works and constructions of feeder chann...