MARKET EYE-Indian shares gain; GDP data eyed

Fri Nov 30, 2012 10:24am IST

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Stocks

   

* The BSE index rises 0.35 percent to 19,235.78, while
the NSE index up 0.3 percent at 5,842.60.
* The BSE index touched an intraday high of 19,323.52, is at its
highest level since April 28 2011.    
* Asian shares rose to a nine-month peak on Friday, helped by
firmer global equities overnight, but flows were largely
dictated by month- and year-end position-squaring, with
investors taking profits on the rises and buying on dips.
   
* Investors are now confident that the government is in a
position from where key reforms can pass through in the winter
session of the parliament. Foreign funds net bought shares worth
15.80 billion rupees on Thursday, when the BSE index 
rose 1.75 percent.
* Indian banks have seen a pick-up in demand for credit since
the beginning of the festive season in October, and are
confident of meeting the central bank's projection for the
fiscal year ending in March 2013. 
* ICICI Bank rose 1.5 percent, State Bank of India 
rises 1.5 percent, while mortgage lender HDFC gains
2.3 percent.
* Suzlon Energy Ltd shares up 8 percent, adding 20.1
in last two trading session, after sources told Reuters that
lenders have agreed to restructure about 110 billion rupees
($1.97 billion) of its debt. 
* Traders awaiting September-quarter gross domestic product
data, due to be released at 0530 GMT on Friday, with growth seen
slowing to its lowest in nearly a decade for the year ending in
March. 

 (manoj.dharra@thomsonreuters.com)
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