MARKET EYE-BSE above 19,000; Goldman Sachs upgrades Indian stocks

Thu Nov 29, 2012 9:58am IST

Related Topics

Stocks

   

* The BSE index rises 0.83 percent, crossing 19,000
points for the first time since Oct. 5, while the NSE index
 gains 0.77 percent. 
* Gains track Asian shares that hit three-week highs on Thursday
as sentiment improved after a senior U.S. lawmaker said he was
"optimistic" on reaching a budget deal before the end of the
year to avoid a fiscal crisis. 
* Traders say Moody's stable outlook on India has eased
potential ratings downgrade worries from S&P and Fitch in the
near term.  
* On Thursday Goldman Sachs upgraded Indian stocks to
'overweight' from 'market-weight', citing growth recovery and
inflation moderation ahead. The investment bank pegged December
2013 Nifty target at 6,600 points. 
* Leading the gains were mortgage lender HDFC, up 2.4
percent; ICICI Bank gains 1.4 percent while Tata
Motors is up 3.17 percent.

 (manoj.dharra@thomsonreuters.com)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Back to Investors

REUTERS SHOWCASE

Health Reforms

Health Reforms

India reviews state hospitals to end widespread corruption.  Full Article 

New Rules

New Rules

RBI says all companies must apply 2-step payments for credit cards.  Full Article 

Still Popular

Still Popular

Indians keep faith with Modi, best hope for economy - poll.  Full Article 

New Adviser

New Adviser

Arvind Subramanian likely to be chief econ adviser.  Full Article 

Pricing Mechanism

Pricing Mechanism

Govt sets up a four-member panel to re-examine gas pricing.  Full Article 

Royalty Rates

Royalty Rates

India to hike iron ore royalty, miners may struggle to pass on extra cost.  Full Article 

Diesel Deregulation

Diesel Deregulation

Oil ministry to seek Cabinet nod on diesel deregulation - sources  Full Article 

Commodities

Commodities

Gold near two-month low; set for weekly drop on interest rate fears  Full Article 

Helping Regional Mills

Helping Regional Mills

Govt raises sugar import duty to 25 pct from 15 pct.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage