Indian Market:
Equity benchmarks rallied sharply in last one hour of trade, led by buying in technology, private financial, metal, FMCG, PSU oil & gas and healthcare companies' shares. The Sensex gained more than 200 points for the first time since August 2, 2010. But the Nifty have still been in a range of 5400-5500.
A parliamentary panel on Wednesday recommended changes to a bill aimed at opening up India's $150 billion nuclear power market, which included trebling the accident compensation burden and extending the liability cover to private suppliers.
India's exports in July grew an annual 13.2% to $16.24 billion, Trade Secretary said the ninth straight month of expansion. The Imports for the month rose 34.3% to $29.17 billion.
Global Cues:
Asian stocks rose on Wednesday, 18 August 2010, as investors took heart from better-than-expected earnings from US retail giants Wal-Mart Stores Inc. and Home Deport Inc. The key benchmark indices in Singapore, China, Hong Kong, Japan, South Korea and Taiwan rose by between 0.07% to 0.43%. But, Indonesia's Jakarta Composite fell 0.19%.
Equity benchmarks rallied sharply in last one hour of trade, led by buying in technology, private financial, metal, FMCG, PSU oil & gas and healthcare companies' shares. The Sensex gained more than 200 points for the first time since August 2, 2010. But the Nifty have still been in a range of 5400-5500.
A parliamentary panel on Wednesday recommended changes to a bill aimed at opening up India's $150 billion nuclear power market, which included trebling the accident compensation burden and extending the liability cover to private suppliers.
India's exports in July grew an annual 13.2% to $16.24 billion, Trade Secretary said the ninth straight month of expansion. The Imports for the month rose 34.3% to $29.17 billion.
Global Cues:
Asian stocks rose on Wednesday, 18 August 2010, as investors took heart from better-than-expected earnings from US retail giants Wal-Mart Stores Inc. and Home Deport Inc. The key benchmark indices in Singapore, China, Hong Kong, Japan, South Korea and Taiwan rose by between 0.07% to 0.43%. But, Indonesia's Jakarta Composite fell 0.19%.
US stocks rose on Tuesday, 17 August 2010, after earnings from Wal-Mart and Home Depot and a $39 billion takeover bid in the agriculture sector bolstered confidence in the corporate outlook. Economic data was mixed. Industrial production rose and wholesale prices rose, allaying some fears of deflation, but housing starts suggested that the sector remains weak.
General Motors [GM.UL] and China's SAIC Motor Corp deepened their ties to include the joint development of small engines and transmissions as the U.S. automaker seeks to draw on the allure of the fast-growing China market ahead of a highly anticipated IPO.
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