December 12, 2012 / 4:27 AM / 5 years ago

MARKET EYE-Indian shares gain ahead of factory data

* 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below