2011年6月26日星期日

Sensex surges over 500 pts on global cues, Greece (Reuters)

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在 ServiceModel 客户端配置部分中,找不到引用协定“TranslatorService.LanguageService”的默认终结点元素。这可能是因为未找到应用程序的配置文件,或者是因为客户端元素中找不到与此协定匹配的终结点元素。

MUMBAI (Reuters) The BSE Sensex logged its first weekly gain in three weeks, rising 2.9 percent on Friday, with support from global markets that displayed some relief after Greece reached an agreement for an austerity plan to avoid a debt default.

Financials led the rise with State Bank of India , ICICI Bank and HDFC Bank rising between 2.1 and 5.7 percent. The Bank Index gained 3.1 percent on the day.

Greece won the consent of international lenders on Thursday for a five-year austerity plan intended to avoid looming bankruptcy and its prime minister pledged to push radical economic reforms through parliament.

The benchmark 30-share BSE index ended the day 513.19 points higher at 18,240.68, with all but two of its components closing in the positive zone.

"The market is responding to overseas cues and positive developments on commodity inflation which is easing. There is definitely an expectation of moderation in oil prices," said K.K. Mital, head of portfolio management services at Globe

Capital.

Brent crude rebounded by more than $1 from a four-month low on Friday to $107, but oil prices are more than 20 percent off their early May peaks.

JPMorgan and Goldman Sachs slashed forecasts for crude prices in the third quarter after the International Energy Agency announced the release of 60 million barrels of oil next month to shore up the economic recovery.

Investors, however, remained wary as India is expected to make a decision on raising state-controlled prices of fuel such as diesel and cooking gas at 1330 GMT, which could push up an already sticky inflation, which in May hovered over 9 percent.

The Reserve Bank of India (RBI) raised interest rates last week for the 10th time in just over a year to combat stubbornly high inflation and signalled more increases to come even as growth in Asia's third-largest economy is slowing down.

Foreign funds have been dumping Indian stocks recently, on worries over rising inflation and a slowdown in economic growth in the world's second-fastest growing major economy after China.

They have sold a net $628 million of shares in a total of eight sessions to June 21.

State-run oil marketing companies Indian Oil , Bharat Petroleum and Hindustan Petroleum , which would benefit from any increase in fuel prices, were up between 2.46 percent and 6.14 percent.

The 50-share NSE index closed up 2.84 percent at 5,471.25 points.

The index is down 11 percent year-to-date, and is the worst performer among major Asian markets. By comparison, MSCI's measure of Asian shares other than Japan is down 1.8 percent so far in 2011.

The Sensex is headed for its second annual decline in a decade as persistently high inflation, rising interest rates and slowing growth keep investors at bay, a Reuters poll showed.

In the broader market, 1,162 gainers outnumbered 278 losers on a volume of 648 million shares.

The MSCI world equity index was up 0.59 percent by 0740 GMT, while the emerging markets equities index rose 1.09 percent.

STOCKS THAT MOVED

* Unity Infraprojects Ltd rose 5.15 percent to 66.10 rupees, after a top company official told Reuters that the company was scouting for infrastructure building contracts abroad and mulling a foray into power and railways in the country.

* Sugar producers rose for the second day after the government on Thursday allowed another 500,000 tonnes of sugar exports. Shree Renuka Sugars Ltd was up 4.22 percent at 60.45 rupees, while Bajaj Hindusthan Ltd and Dhampur Sugar Mills gained 2.76 percent and 0.6 percent, respectively.

* SpiceJet gained 19.85 percent on the day, after the company said it has sought the central bank's approval to raise $270 million from Canada's export finance agency Export Development Canada (EDC) for aircraft purchases.

TOP THREE MAIN STOCKS BY VOLUME ON NSE

* Unitech on 34.2 million shares

* Lanco Infratech on 26.2 million shares

* GTL on 24.7 million shares

(Editing by Malini Menon)


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