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Oil and gas futures fell on Wednesday after a governmental announcement displayed an unforeseen slump in refinery action and big declines in oil and gasoline stocks. Oil and gas futures jumped at once after the report’s release, and then traded volatile for the whole day.

For next monthe delivery, light, sweet crude delivery descended 27 cents to USD 72.15 per barrel on the NYMEX, and the gasoline came down 0.65 cent to USD 1.9377 each gallon.

It was a feeble day for the stock markets followed by instability and indecision due to sub prime mortgage concerns.

Sensex lost 207.83 points at 15100.15, while the Nifty ended 58.90 points down at 4403.20.

Rahul Mohindar of Viratechindia.com is optimistic on IDBI

The Industrial Development Bank of India Limited (IDBI) is one of India's top public sector banks. It was founded in 1964 by an Act of Parliament as a wholly owned subsidiary of the RBI to offer credit and other facilities for the growth of the fledgling Indian business.

Today, the stock market opened on a cheerful note this morning as the bulls, captivating worldwide cues, continued a buying spree in early trade. Reflecting the optimistic beginning, the Sensex that opened its eyes with a positive gap of about 145 points, soared up past the 15,500 mark to 15,535.85 in early trades.

Presently, the Sensex is up with an hefty gains of 208.03 points or 1.36 per cent at 15,516.01. The Nifty that erupted to 4526.10, has recorded a gain of 1.35 per cent or 60.35 points at 4522.45.

Rahul Mohindar of Viratechindia said that there is a possible downside in SBI’s stock value.

He said that the stock will experience other downside of Rs 100-150 with a short-term to medium-term viewpoint.

Mr. Mohindar stated, “In SBI, there is a visible short opportunity clearly because the stock looks much overstretched, it has reacted from more than Rs 1700 levels on its way down. So, I think technically we would have achieved almost all targets on both shorter-term and longer-term counts.”

He doesn’t believe that the SBI stock can do much on the positive aspect.

Islamabad: A senior representative said that India has decided to eliminate restrictions on import of 20 items from Pakistan without asserting on Most Favoured Nation (MFN) status and transportatio

In afternoon trading, Lanco Infratech climbed up 4.6% to Rs 284.10, broadening its