MARKET EYE-SGX Nifty gains; FDI vote in upper house key

Fri Dec 7, 2012 8:34am IST

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* Nifty futures on the Singapore Exchange up 0.2
percent. The MSCI-Asia Pacific index excluding Japan
 also gains 0.54 percent.   
* Asian shares ticked up to a 16-month high on Friday following
modest overnight gains in global equities as investors watched
progress in U.S. budget talks and awaited U.S. non farm payrolls
data later in the day.  
* Foreign investors bought 8.38 billion rupees of stocks, while
domestic institutions sold stocks worth 6.62 billion rupees on
Thursday, when the BSE index gained 0.49 percent. 
* Bahujan Samaj Party (BSP), which had abstained in the lower
house, said it would support foreign direct investment in
supermarkets in a vote on Friday in the upper house of
parliament. 
* Traders say while markets remain susceptible to profit booking
after India's benchmark index rose 5.6 percent since
Nov. 22, when the winter session of parliament began, vote on
FDI remains the key for the near term direction.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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