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MARKET EYE-Indian shares rise, but foreign investors extend sales
April 9, 2013 / 4:42 AM / 4 years ago

MARKET EYE-Indian shares rise, but foreign investors extend sales

* Indian shares gain, on their way to snapping four sessions of
losses, with the 50-share NSE index up 0.48 percent and
the benchmark BSE index 0.22 percent higher.
* Global cues are more positive with Asian equities drawing
support after Alcoa Inc reported a higher quarterly
profit, signalling a positive start to the U.S. quarterly
earnings season. 
* Cairn India Ltd gains 2.82 percent after the company
announces an oil discovery in the Rajasthan block in northwest
India. 
* ICICI Bank Ltd up 1.6 percent after Morgan Stanley
upgrades the stock to "overweight" from "equal-weight", citing
an expected pick-up in consumer loan growth. 
* Wipro down 9.5 percent in the first trading session
after splitting non-IT business into a separate unit.
 
* Foreign funds continue to be net sellers in Indian equities,
having sold $30.03 million of equities on Monday, a fourth
consecutive session of selling.

 (subhadip.sircar@thomsonreuters.com;
subhadip.sircar.thomsonreuters.com@reuters.net)

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