Indian Market:
Equity benchmarks saw spectacular rally on Monday, led by buying across all sectors, after witnessing a bloodbath for previous two weeks on trot. The 50-share NSE Nifty closed above the 6000 - a psychologically important level by adding nearly 120 points while the Sensex was inching up towards 20,000 level.
All BSE sectoral indices ended in green; the BSE Bank, IT and TECk indices jumped 2-2.7%. Auto, Realty, FMCG, Oil & Gas and Metal indices were up 1-1.9%.
Prime Minister Manmohan Singh said ,he expects to return Asia's third-largest economy to a sustained growth of 9-10 percent from fiscal year 2011-2012 onwards.
Global Cues:
Asian shares rose on Friday, following a jump on Wall Street on Thursday, 18 November 2010, as investors cheered a strong manufacturing report and a rosier outlook for Europe's debt problems. The key benchmark indices in China, Indonesia, Japan, South Korea and Taiwan rose by between 0.17% to 1.02%.
US shares surged as a closely watched gauge of US jobless benefits hit a two-year low last week and factory activity in the country's Mid-Atlantic region accelerated in November, suggesting the economy's recovery was gaining speed.
Federal Reserve Chairman Ben Bernanke on Thursday hit back at critics of the U.S. central bank's controversial bond-buying program and issued a thinly veiled attack on China's policy of keeping its currency depressed.
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