Snapping its three-session losing streak,BSE Sensex today rose by over 195 points to trade above the 19,000 level in early trade on buying by funds and retailers,after Finance Minister P. Chidambaram announced that more economic reforms are on the anvil.
Besides,a firming trend in the Asian region influenced the trading sentiment.
STOCK MARKET LINKS
The 30-share barometer rose by 195.52 points,or 1.04 per cent,to 19,022.68 with stocks of realty,consumer durables,metal,capital goods,banking and sectors leading recovery. The index had lost 613.91 points in the previous three sessions.
Similarly,the wide-based National Stock Exchange index,Nifty moved up by 58.15 points,or 1.02 per cent,to 5,757.25.
Brokers said the sentiment turned better on revival of buying by funds and retail investors after the Finance Minister signalled more reforms to boost economic growth.
Further,a firming trend in the Asian region following overnight gains at the US market on the back of upbeat economic data,too,influenced the sentiment,they said.
Meanwhile in Asia,Japan’s Nikkei was up by 2.59 per cent,while Hong Kong’s Hang Seng gained 0.99 per cent in early trade. The US Dow Jones Industrial Average ended 1.21 per cent higher yesterday.
Indian stocks to watch – June 14
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange are 0.75 percent up and the MSCI-Asia Pacific index excluding Japan is 1.18 percent higher.
* Asian shares recovered from multi-month lows on Friday,as a rebound in U.S. equities on the back of upbeat economic data calmed nerves after a bruising selloff in global markets,but investors remained cautious ahead of next week’s Federal Reserve policy meeting.
* US stocks rallied on Thursday after three days of losses as stronger-than-expected economic data helped reassure investors concerned about the expected winding down of the Federal Reserve’s economic stimulus.
FACTORS TO WATCH
* India will release wholesale prices-based inflation data for May around 0630 GMT.
* Apollo Tyres Ltd is holding a press conference in New Delhi to provide further details on its $2.5 billion deal to buy U.S.-based Cooper Tires. (0730 GMT)
* India oil minister to meet journalists at 1700 GMT
INDIAN STOCKS TO WATCH For additional press items double click NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.
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