UPDATES ON JULY 8 2008

JULY 8 TUESDAY

SHORT TERM TREND : SIDEWAYS: TARGET RS 6110 TO 6235

LONG TERM TREND : BULLISH: TARGET RS 6460

S1 RS 6110, S2 RS 6065, S3 RS 6020

R1 RS 6195, R2 RS 6235, R3 RS 6270

MARKET IS EXPECTED TO MOVE SIDEWAYS

Oil Rises as Mexican Field Output Falls, Hurricane

Strengthens .

Crude oil rose in New York after production at Mexico's

biggest field declined and the first hurricane formed in the

Atlantic Ocean this year, raising concern output may be

disrupted.

In the Atlantic, Bertha has intensified into a ``major'' Category

3 storm with winds of 120 miles per hour, the

U.S. National Hurricane Centre said.

Crude oil for August delivery rose as much as 82 cents, or

0.6 percent, to $142.19 a barrel on the New York Mercantile

Exchange. It was at $141.98 a barrel at 11:54 a.m.

Singapore time. Oil yesterday settled down $3.92, or 2.7

percent, at $141.37 a barrel. It reached a record $145.85

on July 3. Prices have surged 97 percent in the past year.

Tropical cyclones Katrina and Rita closed fields and

refineries along the U.S. coast of the Gulf of Mexico

in 2005.

Brent crude oil for August settlement gained as much as

63 cents, or 0.4 percent, to $142.50 a barrel on London's

ICE Futures Europe exchange. Futures reached a

record $146.69 on July 3.