Nifty Hits 19-Mth High At 5,825, Sensex Rallies 328 Pts; Parliament Logjam Ends, FDI Vote Allowed; Goldman Sachs Upgrades India To Overweight; Re At Nearly 2-Week High, Up 61 Paise At 54.84

Thursday, Nov 29, 2012 NIFTY CROSSES 5,800 LEVEL, SENSEX RALLIES 328 PTS   Sensex and Nifty surged to a 19-month high amid record turnover of Rs 3,92,233 cr. Goldman Sachs upgrading India to 'Overweight' boosted market sentiment. Adding to the positive sentiment was Parliament's decision to vote on FDI ending the 4-day logjam in Lok Sabha. The India indices ended up as the best performer of the day in Asia-Pacific. Sensex surged 328.83 pts to close at 19,170.91 while Nifty closed for the first time above 5,800 level in 2012 to end 97.55 pts up at 5,825. read more   PARLIAMENT LOGJAM ENDS; FDI VOTE ALLOWED   The Lok Sabha started functioning normally on Thursday after speaker Meira Kumar admitted a motion on FDI in multi-brand retail under the rule that entails holding a vote. The Lok Sabha has set December 4 and 5 as the date to vote. read more   GOLDMAN SACHS UPGRADES INDIA TO OVERWEIGHT   Goldman Sachs raised India to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead. The investment bank pegged December 2013 Nifty target at 6,600 points. It further added that the economy is likely to grow 6.5% in 2013 and 7.2% in 2014 driven by favourable external demand outlook and domestic structural reforms push. read more   TOP STORIES • Re at nearly 2-wk high; up 61 paise at 54.84   • SC orders CBI action against Bharti, Vodafone   • Jet Air-Etihad deal to be signed in three months   • SAT dismisses Sahara's appeal against SEBI   • PVR buys 69.27% stake in Cinemax for Rs 395 cr   • NMDC's $1.2 bn share sale likely on Dec 13   • Balco, Hind Zinc gets nod for govt stake sale   • Disinvestment fetched Rs 932 cr so far in FY'13: FM   • Bharti Infratel gets regulatory nod for $800 mn IPO   • Bayer sells property near Mumbai for Rs 1,250 cr   • Lok Sabha okays changes in money laundering law   • For 3rd time, Tata Motors halts prodn at Jamshedpur   • CAG rebukes DRDO for irregularities in new projects   • Facebook row: Govt tightens application of cyber law   • Govt throws $15 bn lifeline to world's iron ore miners   • Aston Martin not for sale; in talks over capital injection   • French government attacked over threat to Mittal   • U.N. set to implicitly recognize Palestinian state   • 2 tickets share record $588 mn Powerball win   • Google is being evil, says Microsoft ad campaign   more stories TOP VIDEOS Market Sentiment To Improve With Pick Up In Reform Execution. Looking Aggressively For Potential Midcap Outperformers: Sanjay Dutt, Director, Quantum Securities   Don't Expect Resolution To Fiscal Cliff Before Dec 31: Warren Buffett, Chairman & CEO, Berkshire Hathaway   No Plans To Hike Price; Will Sell 50 Million Tonnes In FY13: S Narsing Rao, Chairman, Coal India   AT A GLANCE BSE 19170.91 +328.83 NSE 5825 +97.55 TURNOVER Rs. 392,233 cr BSE CASH Rs. 3,299 cr NSE CASH Rs. 19,399 cr NSE F&O Rs. 304,253 cr BULLION GOLD 31545 -353 SILVER 62566 -559 CRUDE NYMEX 88.41 +1.92 BRENT 110.87 +1.36 FOREX $ / Re 54.835 -0.62 £ / Re 87.706 -1.48 € / Re 71.072 -1 EVENTS TO WATCH 30 November High Level Committee To Meet On ECB, New Delhi 30 November -2 December IIM Ahmedabad Presents Confluence 2012 Changing Winds: New Paradigm For Leadership 2-7 December India ITME 2012: 9th India International Textile Machinery Exhibition, Goregaon East, Mumbai 6 December 7th Public Procurement Summit, Towards Enhancing Transparency, Efficiency & Accoutability, Le Meridien, New Delhi

(On upgrading India to 'overweight')"Reform initiatives and changes in government leadership this fall have created a sense of optimism among the domestic investor base for the first time in over a year, and the risk of policy missteps in 2013 has been lowered. India is less affected by the near-term concerns of the U.S. fiscal cliff relative to other markets in Asia in our view." Report Goldman Sachs "I think internal self regulation has failed and failed lamentably, atleast television has your national broadcasters association. In the print media, we have absolutely nothing because all editors say that we don't want external self regulation because we can do it ourselves. I've got a corrections page, I've got a clarifications page, and therefore, we don't need it." Vinod Mehta Editorial Chairman, Outlook Group "Samajwadi Party will take a stand on voting on FDI when time comes. As far as FDI in retail is concerned, we oppose it tooth and nail." Mulayam Singh Yadav Chief, Samajawadi Party