Indian Market:
Equity benchmarks closed above their important psychological levels for the first time this week; the Sensex stayed above 17,000 mark and Nifty above 5100.
India need not quicken the pace of its return to a normal monetary policy, the deputy chairman of the Planning Commission said on Friday, after the country reported faster-than-expected industrial output growth.
The manufacturing sector in April grew 19.4% as against 0.4%, while consumer durables surged to 37% versus 17.6%. The mining sector's growth came in at 11.4% in the month versus 3.4%. There was strong growth in capital goods sector, which rose 72.8% from negative 5.9% on year-on-year basis and the consolidated non-durable jumped 6.6% as against negative 10.5%.
The country's industrial output rose in April at a much faster than expected rate of 17.6% from 13.5%.
Global Cues:
Asian stocks charged ahead on Friday, tracking Wall Street's rally overnight which saw all three major indices gaining nearly 3%. The key benchmark indices in Japan, China, South Korea, Indonesia, Hong Kong, Taiwan and Singapore rose by between 0.64% to 2%.
European and Asian stocks rose after economic reports in China indicated that the recovery will continue.
U.S. stock-index futures rose, with the Standard & Poor's 500 Index poised for its biggest weekly gain in a month, before reports on retail sales and consumer confidence. The Dow Jones Industrial Average jumped 273.28 points, or 2.76% to 10,172.53.
Equity benchmarks closed above their important psychological levels for the first time this week; the Sensex stayed above 17,000 mark and Nifty above 5100.
India need not quicken the pace of its return to a normal monetary policy, the deputy chairman of the Planning Commission said on Friday, after the country reported faster-than-expected industrial output growth.
The manufacturing sector in April grew 19.4% as against 0.4%, while consumer durables surged to 37% versus 17.6%. The mining sector's growth came in at 11.4% in the month versus 3.4%. There was strong growth in capital goods sector, which rose 72.8% from negative 5.9% on year-on-year basis and the consolidated non-durable jumped 6.6% as against negative 10.5%.
The country's industrial output rose in April at a much faster than expected rate of 17.6% from 13.5%.
Global Cues:
Asian stocks charged ahead on Friday, tracking Wall Street's rally overnight which saw all three major indices gaining nearly 3%. The key benchmark indices in Japan, China, South Korea, Indonesia, Hong Kong, Taiwan and Singapore rose by between 0.64% to 2%.
European and Asian stocks rose after economic reports in China indicated that the recovery will continue.
U.S. stock-index futures rose, with the Standard & Poor's 500 Index poised for its biggest weekly gain in a month, before reports on retail sales and consumer confidence. The Dow Jones Industrial Average jumped 273.28 points, or 2.76% to 10,172.53.
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