Indian shares rebound; rate sensitive stocks lead

MUMBAI Thu Dec 6, 2012 3:42pm IST

Related Topics

MUMBAI Dec 6 (Reuters) - Indian shares recovered early losses on Thursday, rising for the third day, after a key ally of the government decided to support foreign direct investment in supermarkets in the upper house of the parliament.

Gains were led by a rebound in rate sensitive stocks such as ICICI Bank on hopes of traction in pension and insurance bills after FDI in retail.

ICICI Bank provisionally closed up 2 percent, while Tata Motors ended 2.3 percent higher.

The BSE index provisionally gained 0.49 percent, while the 50-share NSE index ended up 0.52 percent.

Bahujan Samaj Party, which had abstained in the lower house, will now support the government's move to allow FDI in retail, which may help tilt the vote in the favour of the government.

The government won the vote in the lower house on Wednesday, but is in minority in the upper house. (Reporting by Abhishek Vishnoi; Editing by Anand Basu)

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 | Related Story 

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Videocon d2h IPO

Videocon d2h IPO

Videocon d2h files for up to $113 million IPOs  Full Article 

Asian Economy

Asian Economy

Asian factories slow in Sept, push inflation ever lower  Full Article 

EBay Divests PayPal

EBay Divests PayPal

EBay follows Icahn's advice, plans PayPal spinoff in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

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