The Indian equity markets pared a good portion of
early gains but still remains fairly well placed in positive territory
as traders indulge in some short-covering and bargain hunting after
eight successive days of losses. Despite a terrible setback in the US
and European markets overnight, Indian markets recovered after a weak
start this morning, lifting sentiment to an extent. The Sensex jumped
136 points and the Nifty rose 35 points amid volatility. On sectoral
front, information technology, capital goods, oil and healthcare stocks
were trading firm. Metal, power, realty and bank stocks have shed most
of their early gains. Consumer durables and FMCG stocks were trading
weak. On the global front, most of the Asian markets continued trading
in red on account of ongoing euro zone and US debt worries. Back home,
the market breadth favoring the positive trend; there were 1,206 shares
on the gaining side against 1,129 shares on the losing side while 113
shares remained unchanged.
The BSE Sensex is currently trading at 16,082.73, up by 136.63 points or 0.86%. The index has touched a high and low of 16,152.06 and 15,970.11 respectively. There were 23 stocks advancing against 7 declines on the index.
The broader indices were too following the benchmarks; the BSE Mid cap and Small cap index up by 0.05% and 0.11% respectively.
The top gaining sectoral indices on BSE were IT up by 1.95%, TECk up by 0.99%, CG up by 0.89%, Oil & Gas up by 0.74% and HC up by 0.69%. While, CD down by 2.44%, FMCG down by 0.15% were the top losers on the index.
The top gainers on the Sensex were Tata Motors up by 3.81%, Cipla up by 2.57%, Jaiprakash Associate up by 2.47%, TCS up by 2.40% and Infosys up by 2.04%.
On the flip side, Bharti Airtel down by 2.55%, Bajaj Auto down by 1.11%, Mahindra & Mahindra down by 0.79%, Tata Power down by 0.52% and Hero MotoCorp down by 0.49% were the top losers on the Sensex.
Meanwhile, despite the ongoing debt crisis in European economies and slowdown in United States, foreign direct investment in India surged by 74% to $19.13 billion in the first half of current financial year compared to $8.6 billion in the same period of the last year.
During January-September 2011, FDI in India surged by 41% to $22.5 billion compared to $15.97 billion in same period of corresponding year. However, FDI in September 2011 saw decline, it stood at $1.766 billion compared to $2.83 billion in August, which indicates that the capital inflow was affected by the financial crisis in western economies.
Despite the impressive surge in FDI inflows in the current financial as well as calendar year, experts maintain that the government should further rationalize efficient policies and make the environment more conducive to foreign investments.
The government, recently, relaxed FDI norms and allowed foreign investment in bee-keeping and share-pledging for raising external debt. Along with this, the government also relaxed conditions for FDI in construction of old-age homes and educational institutions. These investments will not be subject to minimum and buildup area, capitalization and lock-in period norms as applicable for the construction activities.
The top gainers of the Nifty were Tata Motors up by 3.87%, Cipla up by 2.58%, JP Associate up by 2.39%, TCS up by 2.31% and BHEL up by 2.14%.
On the flip side, Bharti Airtel down by 2.57%, Ambuja Cement down by 2.40%, Bajaj Auto down by 1.30%, Siemens down by 0.96% and Dr Reddy down by 0.95% were the major losers on the index.
Asian markets kept trading on a subdued note, Shanghai Composite declined 0.31%, Hang Seng shed 0.33%, KLSE Composite fell 0.18%, Nikkei 225 lost 0.35%, Taiwan Weighted descended 0.61% and Jakarta Composite too surrendered 0.06%.
On the flip side, Seoul Composite gained 0.40% and Straits Times inched up by 0.06%, were the only gainers in region.
The BSE Sensex is currently trading at 16,082.73, up by 136.63 points or 0.86%. The index has touched a high and low of 16,152.06 and 15,970.11 respectively. There were 23 stocks advancing against 7 declines on the index.
The broader indices were too following the benchmarks; the BSE Mid cap and Small cap index up by 0.05% and 0.11% respectively.
The top gaining sectoral indices on BSE were IT up by 1.95%, TECk up by 0.99%, CG up by 0.89%, Oil & Gas up by 0.74% and HC up by 0.69%. While, CD down by 2.44%, FMCG down by 0.15% were the top losers on the index.
The top gainers on the Sensex were Tata Motors up by 3.81%, Cipla up by 2.57%, Jaiprakash Associate up by 2.47%, TCS up by 2.40% and Infosys up by 2.04%.
On the flip side, Bharti Airtel down by 2.55%, Bajaj Auto down by 1.11%, Mahindra & Mahindra down by 0.79%, Tata Power down by 0.52% and Hero MotoCorp down by 0.49% were the top losers on the Sensex.
Meanwhile, despite the ongoing debt crisis in European economies and slowdown in United States, foreign direct investment in India surged by 74% to $19.13 billion in the first half of current financial year compared to $8.6 billion in the same period of the last year.
During January-September 2011, FDI in India surged by 41% to $22.5 billion compared to $15.97 billion in same period of corresponding year. However, FDI in September 2011 saw decline, it stood at $1.766 billion compared to $2.83 billion in August, which indicates that the capital inflow was affected by the financial crisis in western economies.
Despite the impressive surge in FDI inflows in the current financial as well as calendar year, experts maintain that the government should further rationalize efficient policies and make the environment more conducive to foreign investments.
The government, recently, relaxed FDI norms and allowed foreign investment in bee-keeping and share-pledging for raising external debt. Along with this, the government also relaxed conditions for FDI in construction of old-age homes and educational institutions. These investments will not be subject to minimum and buildup area, capitalization and lock-in period norms as applicable for the construction activities.
As
per the latest data, sectors such as services (financial and non-
financial), telecom, housing and real estate, and construction and power
sectors, attracted maximum FDI in current financial as well as calendar
year. Mauritius, Singapore, the US, the UK, the Netherlands, Japan,
Germany and the UAE are the major investors in India. The FDI inflows
recorded a decline of 25% to $19.42 billion in 2010-11 from $25.83
billion in 2009-10.
The S&P CNX Nifty is currently trading at
4,814.20, up by 35.85 points or 0.75%. The index has touched a high and
low of 4,835.30 and 4,782.55 respectively. There were 34 stocks
advancing against 16 declines on the index. The top gainers of the Nifty were Tata Motors up by 3.87%, Cipla up by 2.58%, JP Associate up by 2.39%, TCS up by 2.31% and BHEL up by 2.14%.
On the flip side, Bharti Airtel down by 2.57%, Ambuja Cement down by 2.40%, Bajaj Auto down by 1.30%, Siemens down by 0.96% and Dr Reddy down by 0.95% were the major losers on the index.
Asian markets kept trading on a subdued note, Shanghai Composite declined 0.31%, Hang Seng shed 0.33%, KLSE Composite fell 0.18%, Nikkei 225 lost 0.35%, Taiwan Weighted descended 0.61% and Jakarta Composite too surrendered 0.06%.
On the flip side, Seoul Composite gained 0.40% and Straits Times inched up by 0.06%, were the only gainers in region.
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