MARKET EYE-Indian shares gain ahead of factory data

Wed Dec 12, 2012 9:53am IST

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Stocks

   

* The BSE index is up 0.3 percent while the NSE index
 gains 0.22 percent. 
* Gains in line with Asian shares that rose on Wednesday buoyed
by strength in global equities markets, firmer economic
sentiment in Germany and hopes of a deal from U.S. budget
talks. 
* Traders are cautious ahead of India's industrial output data
for October and as Standard & Poor's said on Tuesday,
reiterating its warning that India faces a one-in-three chance
of being downgraded to junk over next 24 months. 
* S&P warning comes on a day when November trade deficit renewed
concerns about the current account deficit, spurring investors
to book profits on Tuesday.
* Tech shares, after falling 5.52 percent this month, 
were leading the gains: Infosys rose 1 percent, Tata
Consultancy Services gains 1.6 percent.     
* Tech Mahindra shares up 4.6 percent after a block
sale of 9.3 million shares, widely seen as coming from BT
, fetched a higher-than-expected price.  
*  Kingfisher Airlines shares were locked at daily
upper limit of 5 percent at 16.35 rupees, a day after the
company said its in talks with Abu Dabhi's Etihad Airways and
other investors about taking stake in company. 

 (manoj.dharra@thomsonreuters.com)
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