It was a quiet day for Indian equities after two days of heavy gains as the markets chose to consolidate and pause a little bit on Wednesday. Benchmark equity indices ended in the flat-to-negative terrain in the absence of any major trigger during the day's trade. After starting the session on steady notes tracking positive indications from the Asian markets, the local indices witnessed profit booking in the latter part of the day as market experts cautioned that there is very little chance for making sizeable profits from these levels. However, realty and auto sector stocks continued their positive run-up for the second day in a row while power and fast moving consumer goods counters saw minor selling pressure in trade. Tata Motors surged over 4% in trade after it said that November sales grew by 65% compared to year ago period. On the other hand, after witnessing good gains on Tuesday Sun Pharma was targeted by sellers which shed most during the trade. The quiet session of trade was dominated by the 'Great' (Offshore) bidding war between Bharati Shipyard and ABG Shipyard, which came to a dramatic end today. ABG Shipyard has finally exited the race for acquiring Great Offshore and has sold its entire stake of 8.27% in the company. Finally, the 30-share BSE Sensex declined 28.36 points or 0.16% to settle at 17,169.91, while the 50-share S&P CNX Nifty added 1.25 points or 0.02% to end at 5123.25. The market breadth on the BSE closed in favour of advances; the gainers thrashed the losers in a ratio of 1522:1239 while 107 remained unchanged. The BSE Sensex touched a high and a low of 17,329.68 and 17,142.36, respectively. Tata Motors up 4.14%, DLF up 3.69%, Maruti Suzuki up 1.54%, HDFC Bank up 0.92% and Jaiprakash Associates up 0.70% were the major gainers on the Sensex. On the other hand, Sun Pharma down 2.82%, HDFC down 1.90%, Rel Infra down 1.87%, HUL down 1.39% and BHEL down 1.37% were the major losers on the Sensex. The BSE Mid-cap and Small-cap indices gained 0.90% and 0.87%, respectively. India's external trade scenario continues to remain poor, although the pace of contraction in exports and imports has decelerated in October, showed the data released by the government on Tuesday. A release by the Commerce Department showed on Tuesday that country's total exports during October 2009 were valued at $13.19 billion (Rs 6,16,39 crore), registering a decline of 6.6% in dollar terms (- 10.3% in rupee terms) compared with exports worth $14.13 billion (Rs. 68754 crore) during October 2008. Among the BSE sectoral indices, Realty up 1.87%, Auto up 1.33%, Bankex up 0.86%, Healthcare (HC) up 0.14% and Public Sector Undertaking (PSU) up 0.13% were the main gainers. Indiabulls Real Estate (up 4.52%) from Realty, Amtek Auto (up 6.18%) from Auto, Indusind Bank (up 6.81%) from Bankex, IPCA Lab (up 5.20%) from HC and Dena Bank (up 9.14%) from PSU were the main gainers on the respective indices. Power down 0.56%, Fast Moving Consumer Goods (FMCG) down 0.54%, Capital Goods (CG) down 0.35%, Consumer Durables (CD) down 0.34% and Information Technology (IT) down 0.28% were the main losers in the BSE sectoral space. India's car-makers continued to see high growth amidst a fast improving economy. Car sales surged in November, boosted by a low base effect from last year and possibility of price rise next year as the government contemplates an exit from the tax cuts it offered after the global economic downturn surfaced last year. Nearly all the players saw buoyant growth as sentiments and economic outlook improve. Market leader Maruti Suzuki continued to hold the sales momentum, recording a whopping 60% increase in sales to 76,359 units. The S&P CNX Nifty touched a high and a low of 5161.75 and 5111.75, respectively. Tata Motors up 4.27%, Ranbaxy up 3.86%, DLF up 3.48%, IDFC up 3.21% and Idea up 3.17% were the top gainers on the Nifty. While, Sun Pharma down 2.79%, Siemens down 1.99%, Rel Infra down 1.91%, BPCL down 1.85% and HDFC down 1.77% were the top losers on the Nifty. The Prime Minister's Economic Advisory Council (EAC) said on Tuesday that it could revise upward the economic growth forecast for the current fiscal to 7% from 6.5% that it gave earlier in wake of the robust economic growth recorded in the July-September quarter. "We will review in January our growth estimates. We had earlier said 6.5%. Probably it could be higher…. It could be close to 7%", said Dr Rangarajan, Chairman of the EAC, on the sidelines of an event organised by NCAER and Australian Government at New Delhi. He added that the EAC will come out with revised outlook report in January next year. Among European markets, Germany's DAX shed 0.03% and Britain's FTSE 100 declined 0.05% while France's CAC 40 gained 0.15%. Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 20, 2009, the government of India has approved 17 proposals of Foreign Direct Investment (FDI). The proposals would result in an inflow of nearly Rs 4551.05 crore. The proposals pertain to a number of industries including telecommunications, information and broadcasting, steel and defence production etc. Biggest proposal among those cleared is from the Federal Agency for State Property Management of the Russian Federation to buy 20% stake in telecom service provider Sistema-Shyam for Rs 3,051 crore. All key Asian indices ended in the positive terrain on Wednesday as investors extended their buying activity for the third day in a row. Overnight gains in the US markets and easing Dubai debt concerns were the major triggers for sustained buying in the Asian markets. Shanghai Composite added 34.39 points or 1.06% to 3,269.75, Hang Seng advanced 176.42 points or 0.80% to 22,289.57, Nikkei 225 gained 36.74 points or 0.38% to 9,608.94, Straits Times soared 25.39 points or 0.92% to 2,796.34, Seoul Composite rose 21.91 points or 1.40% to 1,591.63 and Taiwan Weighted surged 28.39 points or 0.37% to 7,677.62. | 
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