Monday, November 18, 2013

Equity Predictions – Asian Stocks on Positive Trade

Asian stocks rose for a third day, with the benchmark index extending a two-week high, surged in early trade on positive Asian stocks. China Galaxy Securities Co. jumped 7.2 percent in Hong Kong as prospects for financial regulatory changes boosted brokerages. Dwango Co. soared 18 percent in Tokyo after jumping by the daily limit on Nov. 15, when the provider of content through mobile phones said Nintendo Co. bought a stake in the company.

Asian markets were trading higher following firm cues from Wall Street. Key benchmark indices in Taiwan, Hong Kong, China, Singapore, Japan, Indonesia and South Korea rose by 0.19% to 2.14%. The market breadth, indicating the overall health of the market, was strong. On BSE, 803 shares gained and 269 shares fell. A total of 25 shares were unchanged.

The total turnover on BSE amounted to Rs 183 crore by 09:30 IST.

Among the 30-share Sensex pack, 28 stocks gained and only two of them declined.

HDFC Bank (up 2.89%), ICICI Bank (up 2.79%) and Tata Steel (up 2%) edged higher from the Sensex pack.

Index heavyweight and cigarette major ITC rose 1.38%.

Reliance Industries gained 0.93% in early trade.

Tata Consultancy Services (TCS) rose 1.1%. The company announced on Saturday, 16 November 2013 the launch of its 10,000-seat campus, Garima Park, in Gandhinagar, Gujarat.

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