10:00AM New York, 7:30PM Mumbai – Stocks in India gain for the sixth session in a row. Weak local earnings and relative strength in global markets dominated trading.

Market Sentiment

Stocks in Mumbai trading rallied for the sixth day in a row lifted by stocks in real estate, cement and infrastructure sectors. Reliance industries and TCS fell after reporting earnings.

Strength in international markets and strong earnings also helped the rally with the 30-share BSE Sensex rising 0.3% or 44.54 at 16,783.87 with 18 Sensex shares advanced, 12 shares declined.

On the National Stock Exchange Nifty increased 0.3% or 12.30 at 5,049.30.

Of the BSE traded stocks, 1,563 shares rose, 1,127 shares declined while 57 shares remained unchanged.

IT shares, however faltered after TCS'' earnings disappointed.

Despite the sixth consecutive gains, the markets are expected turn volatile in coming days ahead of the expiry of April 2008 derivative series on Thursday.

According to reports, Nifty rollover from April 2008 series to May 2008 series stood at 34% while market wide rollover was 15% as of Monday.

Turnover

Daily turnover on the BSE amounted to 6,125 crore rupees and *** on the NSE.

Orchid Chemicals was the most active stock on the BSE with the turnover of 355.30 crore rupees followed by Reliance Natural Resources, Reliance Industries, Kiri Dyes, and IFCI.

Gainers and Declines

Jaiprakash Associates increased 6% to 247 rupees and led the advancers in the Sensex index. TCS fell 10.9% to 884 and led the decliners in the Sensex index.

The company reported 5.95% fall in net profit to 1,108.81 crore rupees on 2.23% rise in net sales to 4,942.49 crore rupees in fourth quarter the third quarter in December 2007.

Infosys declined 2.4% to 1,605.30 rupees, Wipro lost 4.1% to 435 rupees and Satyam Computer Services declined 5.4% to 434 rupees.

Reliance Industries declined 1.6% of 2,601.30 rupees. India''s largest oil refiner reported 24% rise in net profit from the previous comparable period to 3,912 crore rupees in the fourth quarter ended March 2008.

Ranbaxy Laboratories lost 2.8% to 485 rupees after the company entered into strategic business alliance with Orchid Chemicals & Pharmaceuticals involving multiple geographies and therapies for both finished dosage formulations and active pharmaceutical ingredients. Orchid Chemicals & Pharmaceuticals shares slipped 1.44% to 245.80 rupees.

Grasim fell 1.9% to 2,595 rupees and Mahindra & Mahindra declined 1.6% to 629.05 rupees.

Bharat Heavy Electricals gained 5.8% to 1,877 rupees on news reports that the company has won orders worth around 2,030 crore rupees for supply and installation at Nabinagar thermal power plant project in Bihar.