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On Friday, oil and gas futures declined below USD 71 per barrel on news of US subprime troubles and worries over the US economy.

For next month delivery, light, sweet crude descended 61 cents to USD 70.98 each barrel on the New York Mercantile Exchange (NYMEX).

On the other hand, gasoline rates for next month delivery vanished 0.3 cents to USD 1.93 per gallon.

In London, September Brent crude lost 33 cents, to USD 69.88 a barrel on the ICE Futures exchange.

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Washington: According to a media report, the US dropped off many industrialized countries in life expectancy standings, even though Americans are living longer than ever.

The report stated that forty one countries have overstepped the US that comprises not only Japan and several in Europe but also Jordan, Guam and the Cayman islands.

According to technical forecaster, Ashwani Gujral the Punj Lloyd can climb upto Rs 390.

Gujral said, “For Punj Lloyd Rs 280-285 is a key resistance, once it can stay above that, then it can easily go up to Rs 390. The important point here is that people are very cautious but the market is not responding with the vigor on the downside”

He further added, "In case no more bad news comes in, we could slowly have this market moving higher and mid caps could lead the charge from here, because they have fallen much less and probably the hedge funds etc. they have much lower exposure to mid caps."