Reliance Natural Resource was the most active stock on BSE with a turnover of 719.74 crore rupees Reliance Petroleum, Reliance Energy, Reliance Communications and Reliance Capital were other active stocks.

In the broader markets, Nifty fell 1.8%. The 50-share index closed at 6,156.

Healthcare, metal and real estate sectors led the gainers.

Of the stocks in NSE-50 index, Idea Cellular, Unitech and BHEL advanced with a rise of more than 0.8%.

The United Nations report said that developing economies in Asia posted a growth rate of 8.2% in 2007 and is expected to grow at a slightly lower but still robust rate of 7.8% this year.

Of the BSE share, Reliance Industries declined 0.2% to 3,027.05 rupees.

Tata Motors lost 2.8% to 749 rupees. Maruti Suzuki slipped 2% to 907.65 rupees.

Tata Motors unveiled the much anticipated small car priced at 100,000 rupees. Two deluxe models are available at a higher price. The world’s cheapest car, named Nano, is hailed as people’s car, does not have air conditioning, power windows, and electronic brakes.

The Nano is expected to sell well in India and may find a market in many Asian and African nations. Nano, though priced at 100,000 rupees competes with scooters and motor bikes that are sold in India between 50,000 and 70,000 rupees.

Nano is equipped with engine of 620cc and powers 33bhp.

Rata Tata, chairman of Tata Motors dismissed the concerns that the car will be a drag on earnings and may not be safe. He said that the car will be better for a family of five and will be safer than motorbikes or scooters that are sold to the middle-class in small towns and rural markets.

Larsen and Toubro fell 2.8% to 4207.2 rupees after the company said it had booked orders worth 3,500 crore rupees for construction of information technology parks, hotels and malls.

Infosys Technologies lost 3.2% to 1,602.2 rupees. The company will release unveils Q3 December 2007 results on Friday.

NTPC fell 4% to 266.1 rupees, Reliance Energy lost 3.9% to 2,465.1 rupees, ACC fell 3.3% to 938.55 rupees and Reliance Communications declined 3.02% to 796 rupees.

ICICI Bank jumped 3.5% to 1,356.7 rupees on reports the bank will list its brokerage subsidiary ICICI Securities in the next six months.

ITC slipped 3.6% to 219.7 rupees and Hindustan Unilever declined 2.2% to 228.8 rupees.


5:00AM New York, 7:00PM Tokyo - Japan’s foreign exchange reserves reaches $973.37 billion.

Stocks in Japan traded in negative territory after Goldman Sachs Group Co lowered Japan’s economic growth estimate for 2008.

In Tokyo trading Nikkei 225 dropped 1.45% or 211.05 to 14,388.11, while the broader Topix Index declined 1.6% or 22.93 to 1,401.36.

In the first section of the Tokyo Stock Exchange 19 billion shares worth 2.4 trillion yen were traded and in the second section 576 million shares valued at 7.9 billion yen changed hands.