Equity News - Asian Stocks Bounce Six Weeks Low

Asian stocks bounced from six-week lows on Thursday, spurred by Federal Reserve Vice Chair Janet Yellen's dovish comments which suggested the U.S. economy could count on stimulus support for a longer period than markets anticipate. The comments sent U.S. stocks surging and supported bond prices, while the dollar came under pressure, although it narrowed its looses during the Asian session. 

The U.S. stock futures hit a record high following Yellen's comments, which came after regular U.S. trading hours on Wednesday. In Asia, Japan's Nikkei jumped 1.4 percent and hit three-week high, also helped by data showing Japan's economic growth in July-September beat market expectations. The Indonesian rupiah gained 0.6 percent to 11,535 per dollar, recovering from 4 1/2-year low set on Wednesday. The euro last held at $1.3476, after having risen to a high of $1.3499 earlier. 

Prospects of the Fed staying dovish for a longer period supported commodity and energy prices. Spot gold rose 0.2 percent to $1,282 per ounce while silver rose 0.7 percent to $20.73. Copper also gained 0.5 percent though the rebound came after it had tumbled to a three-month low in heavy volume in the previous day in a possible sign of fragile global growth. 

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Today’s Equity Market -Realty Stocks Edge Higher

The equity market edged higher in early trade. It regained positive terrain after slipping into the red and hitting fresh intraday low in morning trade. The market breadth, indicating the overall health of the market, was positive. Realty stocks edged higher on renewed buying. Capital goods pivotals also edged higher. Britannia Industries jumped on strong Q2 result.

Market Wrap

•   Indian markets went red. Nifty, Sensex down by 1.01% and 0.85%.

•   Asia-Pacific markets traded mixed, USD went up on US jobs data.

•   US ended up. US Jobless Rate at 7.3%. Dow Futures up by 122 pts.

 Indian markets crashed down, weighed by sharp depreciation seen in the INR against the US dollar. U.S gain on advancing jobs report. China’s Core Inflation at 3.2% (YoY). Chinese Industrial Production at 10.3% (YoY) fared better then estimates. Nifty down by 61 pts, closed at 6078. Sensex down by 175 pts, closed at 20490. Europe is in green.

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Equity Market News - Indian Rupee Leads Losses

The Indian rupee declined for straight today and is trading at a one-month low. It is the worst performer among the Asian currencies, registering its sharpest fall in nearly two months. The Indian rupee lost 1.2 percent from Nov. 1 to 62.475 per dollar in Mumbai, according to prices from local banks compiled by Bloomberg. Indonesia’s rupiah weakened 0.7 percent to 11,410, Thailand’s baht fell 0.9 percent to 31.475 and Malaysia’s ringgit dropped 0.3 percent to 3.1794.

Rupee's 18% fall against US dollar and almost 19% drop against Euro threatens to put brakes on their royalty binge of recent years. "

Market Wrap

• Indian markets end in red. Nifty, Sensex down by 0.45% and 0.35%.
• Asia-Pacific markets traded weak. Nikkei, Hang-Seng clocked down.
• US ended up. German Ind. Pro. at -0.9%. Dow Futures up by 45 pts.

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IT Stocks Top Most Gainers by Money CapitalHeight

IT Stocks Rally High

When we speak of the stock market in India it is all about the NSE BSE. The BSE IT index was the top most gainer among the sectoral indices on the Bombay Stock Exchange on Wednesday, led by gains in TCS, Wipro and InfosysBSE 0.82 % which were trading with gains of over 1 per cent in a flat market. 

Cognizant Technology Solutions beat its own and analysts' estimates for sales growth in the September quarter by a wide margin and said revenues will grow faster in 2013 than earlier expected. 

Tata Consultancy ServicesBSE 1.66 % was trading 1.8 per cent higher 2079.80. It has hit a low of Rs 2060 and a high of Rs 2087 in trade today. The stock rallied as much as 2.2 per cent in intraday trade today. 

Wipro was trading 1.6% higher at Rs 486.80, while Infosys was up 1.04 per cent. 

HCL TechnologiesBSE -0.01 % was trading 0.7 per cent higher at Rs 1107. It has hit a low of Rs 1100 and a high of Rs 1112 in trade today.

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Indian Stock Market Sparkles All Time High This Diwali

Enlighten this Diwali

Indian markets went up over upbeat sentiments. Bulls lifted the Sensex within kissing distance of a record high on Thursday. Indices ended at new closing highs, led by a rally in bank shares. BoJ sticks with the massive stimulus program. Nifty up by 47 points, closed at 6299. Sensex up by 130 points, closed at 21164.

• Indian markets ended high. Nifty, Sensex up by 0.76% and 0.62%.

 The Sensex continued its gaining streak on Friday to hit a life-time high of 21293.88 on Friday, shrugging off concerns about the weakness in the economy. The markets reckon that the economy may have bottomed out for now, and that the coming two quarters will be much better in terms of economic and corporate performance. The strengthening of the rupee is an early signal of that.

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