Dear Friends,


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A reading showing fall in India's manufacturing output in the month just
gone by, weak European markets and a further fall in US index futures pulled
the domestic bourses lower in mid-afternoon trade. The BSE 30-share Sensex
was down 73.16 points, or 0.66%, shedding 307.12 points from the day's high.
A bout of volatility was witnessed on the bourses in afternoon trade.

The market was volatile. After an initial surge triggered by a reshuffle of
key government posts on Sunday, 30 November 2008, the market pared gains in
mid-morning trade as a reading showed fall in India's manufacturing output
in the month just gone by. The market firmed up again in early afternoon
trade but it shortly pared gains. From that low, the market once again firm
up in afternoon trade.

Weak European markets and a further fall in US index futures pulled the
domestic bourses lower in mid-afternoon trade. The Sensex swung 330.53
points between the day's high and low so far.

Trading in US index futures indicated the Dow could fall 101 points at the
opening bell as an early shopping rush in the weekend that marks the start
of the Christmas shopping season in the United States, is seen unlikely to
save what is shaping up to be a bleak retail sales season. The US index
futures, extended losses. Early results from the Black Friday weekend that
marks the start of the Christmas shopping season in the United States showed
that sales grew in shops and online, fuelled by repeat trips and deep
discounts.

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