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
TOP VIDEOS
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



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Learnings from India such as lower price points for products in smaller packages, or sachets, is gaining acceptance in Europe, says Paul Polman.
Talks on the EU's budget ended in deadlock as leaders of the bloc's 27 member states failed to overcome seemingly irreconcilable differences on how to reduce spending.
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Latest Updates
Market Round-up
SENSEX 18506.57 -10.77
NIFTY 5626.60 -1.15
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14
NSE Gainers
Scrip Price(Rs.) %Change

19.30 + 19.14

69.05 + 18.95

3.70 + 17.46

505.60 + 15.59

125.30 + 15.22
NSE Losers
Scrip Price(Rs.) %Change

212.95 -19.99

235.70 -9.81

20.00 -9.09

13.45 -8.19

4.55 -7.14

Storm Over FDI Paralyses Parliament For 2nd Day; Sensex Ends Flat, Gains 1% This Week; Rupee at 2-1/2 month low of 55.53, RBI intervenes;

Friday, Nov 23, 2012
LEAD STORIES
STORM OVER FDI PARALYSES PARLIAMENT FOR 2ND DAY  
The storm over the issue of FDI in retail refused to subside paralysing proceedings in Parliament for the second day today. read more
SENSEX ENDS FLAT; GAINS 1% THIS WEEK  
Markets closed flat after recouping losses in late trade. Realty, PSU stocks were down. Sensex fell 10.77 pts at 18,506.57. Nifty ended at 5,626.60. read more
2G LOSS: JOSHI DENIES CHARGES; SONIA SAYS 'BJP EXPOSED'  
Reacting to allegations by a former CAG official, the govt today demanded that PAC Chairperson Murli Manohar Joshi and CAG clear the air on the issue. read more
TOP STORIES
TOP VIDEOS
AT A GLANCE
BSE 18506.57 -10.77
NSE 5626.6 -1.15
TURNOVER
Rs. 173,604 cr
BSE CASH
Rs. 2,087 cr
NSE CASH
Rs. 8,689 cr
NSE F&O
Rs. 134,052 cr
BULLION
GOLD 32045 +196
SILVER 62526 +370
CRUDE
NYMEX 87.72 +0.34
BRENT 110.65 +0.1
FOREX
$ / Re 55.535 +0.32
£ / Re 88.712 +0.84
€ / Re 71.829 +0.83
EVENTS TO WATCH
26-27 November
World Energy Policy Summit On 'New Shifts In Energy Paradigm', ITC Maurya, New Delhi
Asian Financial Cooperation Conference Organised By FICCI, Hotel Trident, Mumbai
27-28 November
CII's Microfinance India Summit 2012, Reconstructing The Sector Brick By Brick, The Ashok, New Delhi
29 November - 2 December
Insight: The DNA Of Success Organised By Isha Foundation, Coimbatore
"RP Singh's allegations on 2G report are an attempt to malign Comptroller and Auditor General (CAG) and PAC by vested interests including the government."

Murli Manohar Joshi
Senior BJP Leader & PAC Chairman
"The issues raised by RP Singh, former DG, P&T, in CAG are very germane. What is extremely important is that in May 2010 when the draft report was prepared, the loss was quantified at Rs 2,645 crore, but in November 2010 when the report was presented in Parliament, this loss jumped to Rs 1.76 lakh crore. How did this leap of faith take place?

Manish Tewari
Information and Broadcasting Minister
"India has begun to lack self-confidence, which I worry about. If there is any country that should have been confident about its future, I thought it would be India. I often say that if all our businesses were like India, I would retire. While our businesses continue to get better here, the general atmosphere is of uncertainty."

Martin Sorrell
CEO, WPP


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