Markets witnessed an extremely lackluster session on Tuesday that saw key benchmark indices ending on a flat note. After a short episode of cheer at open, benchmarks soon faltered to enter negative terrain and wandered there till late trades on depressing cues from global equities. Also, traders chose to book profits after a two-day upmove on the local bourses. Nevertheless, despite all tactless forces round the corner, markets did not give up and made a successful head out to recover towards the end point of the day. Situation on broader indices, too, was somewhat similar to that of benchmarks and finally finished without any major divergence from their previous close. Software and technology shares led the pullback on the bourses and deserve all appreciation for being consistent all the way through the session. Realty, oil & gas and public sector undertaking sectors failed to make an impression with their dispirited performance, but it was good to see these counters paring losses in the last hour of trade. Finally, the 30-share BSE Sensex rose 18.14 points or 0.11% to end at 17,050.65, while the S&P CNX Nifty added 4.2 points or 0.08% to settle at 5062.25.

The US markets managed to close the choppy session of Tuesday on a positive note. The major indices touched their fresh 13 month high. The rebound in dollar kept the investors cautious and at the same time a report on industrial production weighed on the market. The Fed said output at the nation's factories, mines and utilities rose 0.1% in October, less than the 0.4% predicted by economists. Though there was a good news as well, the Labor Department's Producer Price Index, which measures inflation at the wholesale level, rose less than expected in October. The Dow Jones industrial average added 30.46 points, or 0.29%, to 10,437.42. It was its highest close since October 2, 2008. The broader Standard & Poor's 500 index was up by 1.02 points, or 0.09%, to 1,110.32, while the Nasdaq composite index was up by 5.93 points, or 0.27%, to 2,203.78.

Crude prices rose for the second straight day on Tuesday, though there were mixed economic data from the economic front and the dollar too strengthened as the euro dropped back below $1.49 after banking officials in Europe and the US voiced support for the dollar. Benchmark crude for December delivery rose 58 cents to $79.48 a barrel in afternoon trading on the New York Mercantile Exchange. In London, Brent crude for December delivery gained 52 cents at $79.28 on the ICE Futures exchange.

The Indian rupee declined on Tuesday tracking the choppiness in the equity markets. The domestic currency made a positive start and traded good despite weak sentiments of the regional stock markets but later as the local stock markets turned weak it followed the suit. The rupee closed at 46.32,10 paise weaker compared to its Monday's close of 46.22.The dollar remained steady against other major currencies as Fed chief reinforced a view that US rates would stay low for a while.

The FII on Tuesday were the net buyers in both equity as well as debt segments. In equity segment the gross buying was of Rs 2505.90 crore against gross sell of Rs 1826.60 crore, while in the debt segment the gross purchase was of Rs 314.60 crore with gross sales of Rs 163.30 crore.

The US markets managed a close in positive territory; though there were mixed economic signals but indices after a volatile session finally closed in green. The Asian markets have made a mixed opening and some indices are marginally trading in red. In the previous session the domestic markets surged in last hours to close in green. The mood of the markets is likely to remain firm with Confederation of Indian Industry (CII) putting economic growth target in range of 6-7%.The indices are likely to make a positive opening and scrip specific movement are likely to hog the lime light today.

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

                                                             Nifty Top volumes

• Uninor the GSM mobile service of Unitech Wireless will roll out its Mobile Service in 8 telecom circle.
• Jaiprakash Associates is looking to sell 5% stake in its subsidiary Jaypee Infratech that owns large tracts of real estate.
• Sun Pharmaceutical Industries has been granted tentative approval to an Abbreviated New Drug Application for generic Gleevec.
• Bharti Airtel has commenced the operations of its Far-East Connect Network, enabling it to serve the requirements of wholesale customers across Asia and the Pacific.
• Cairn India and its joint venture partners have decided to further explore the 4 dimensional (4D) seismic area of Ravva field in the Krishna-Godavari Basin.

These projects include Lotus Pond (OMR, Chennai), Infinit...

It is als...