Sensex rises 75 pts ahead of FDI vote in Rajya Sabha

Dec 07 2012, 09:53 IST
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US stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares. (Reuters) US stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares. (Reuters)
SummaryUS stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares.

The BSE benchmark Sensex gained 75 points in early trade today on optimism that the government set to pass through FDI vote in the Rajya Sabha after ruling party ally BSP agreed to extend support.

The 30-share barometer, which had gained nearly 182 points in the previous three session, added another by 75.07 points, or 0.38 per cent, to 19,561.87.

All the sectoral indices, led by Auto, metal, consumer durable, capital goods, realty, oil and gas and power, were trading in the positive zone with gains of up to 1.08 per

cent.

The wide-based National Stock Exchange index Nifty moved up by 18.95 points, or 0.31 per cent, to 5,949.85.

Brokers said the government was confident to pass through the retail FDI Bill in the Rajya Sabha today after ruling party's key ally BSP agreed to extend support.

They said a firming trend in Asian regions also supported the uptrend.

In Asia, Hong Kong's Hang Seng rose by 0.43 per cent, while the Japan's Nikkei up by 0.20 per cent in early trade today. The US Dow Jones Industrial Average, however, ended 0.30 per cent higher yesterday trade.

GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange 0.2 percent higher. The MSCI-Asia Pacific index excluding Japan is also 0.52 percent up.

* US stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares.

Asian shares ticked up to a 16-month high on Friday following modest overnight gains in global equities as investors watched progress in U.S. budget talks and awaited U.S. Nonfarm payrolls data later in the day.

FACTORS TO WATCH

* India's upper house to vote on allowing FDI in multi-brand retail.

* India cbank deputy governor Subir Gokarn at industry event in Kolkata.

* Indian ministerial panel meeting on airwave auction.

* Asian Venture Capital Journal's India Forum in Mumbai.

* Supreme Court order on Karnataka mining.

* RBI to release forex reserves, bank loan data.

INDIAN STOCKS TO WATCH

For additional press items double click

MACRO/POLICY

* The leader of a powerful regional party said on Thursday she would back the Indian government in a parliamentary vote on its plan to allow in foreign supermarkets, virtually ensuring that an opposition motion against the reform will be defeated.

* India's inflation is expected to trend lower during January-March, the Reserve Bank of India Governor Duvvuri Subbarao said on Thursday, a month after he had

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