Sensex trading above 20K level on fresh buying
shares advanced on Friday as encouraging Chinese data confirmed a recovery was on track in the world's second largest economy, cementing positive sentiment after global equities rose overnight.
Stronger-than-expected data on U.S. housing starts and jobless claims lit a fire under stocks on Thursday, pushing the S&P 500 to a five-year high and its third day of gains.
FACTORS TO WATCH
Earnings: Reliance Industries Ltd, HDFC Bank , ITC Ltd
Kingfisher Ltd's core lenders to meet SEBI's board meeting
INDIAN STOCKS TO WATCH
ENERGY/COMMODITIES
India's government told fuel retailers to raise the price of subsidised diesel in small amounts every month starting Friday in an attempt to prop up public finances without causing a popular backlash before elections.
The government has called for increases of about 1 U.S. cent per litre each month, a source at one of the oil retailers with direct knowledge of the development told Reuters on Thursday.
Bulk buyers will have to pay market rates for diesel, which accounts for 40 percent of fuel consumption in the country, the source, who requested anonymity, said.
India slapped a duty of 2.5 percent on imports of crude edible oils on Thursday, aiming to hold down purchases by the world's top vegetable oil buyer after No. 2 producer Malaysia set export tax at zero in a battle for market share with rival Indonesia.
Reliance Industries Ltd is yet to finalise a concrete plan of action to launch its much-hyped 4G technology services, according
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