August 21, 2012 / 9:23 AM / 5 years ago

MARKET EYE-Indian shares hit new 5-mth high; rainfalls help

* India's main indexes hit new five-month highs, with the
benchmark BSE index up 0.9 percent and the 50-share NSE
adding 0.8 percent.
* Software service exporters lead gainers: Infosys up
2.3 percent after a U.S court dismissed harassment charges filed
by a U.S. employee. 
* Consumer good and auto shares also gain after heavy rains hit
some of the parched parts of the country, easing fears of a
repeat of the widespread drought that gripped three years
ago. 
* Tractor maker Mahindra & Mahindra gains 1.9 percent,
Hindustan Unilever adds 1.8 percent, while Godrej
Consumer products rises 4.1 percent.      
* Gains also helped as global stocks rise on continued hopes ECB
is preparing action to lower borrowing costs in Spain and Italy.
 

 (manoj.dharra@thomsonreuters.com)

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