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

REUTERS EXCLUSIVE

REUTERS SHOWCASE

Modi In U.S.

Modi In U.S.

Obama, Modi work to deepen improving U.S.-India ties  Full Article | Full Coverage 

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Monetary Policy

Monetary Policy

RBI not biased towards either raising or cutting rates - Rajan  Full Article 

Asia & Europe

Asia & Europe

Weak demand hits factory activity across Asia, Europe  Full Article 

Reuters India Mobile

Reuters India Mobile

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