Stocks are likely to remain in a consolidation mode on Friday after a sharp rally in the previous session. The market is likely to take cues from the Asian markets which had a tepid start.
US stocks rose on Thursday, with the Nasdaq turning positive for the year-to-date, as a batch economic data that was not as dire as expected fed optimism the economy's worst days were behind.
The Dow Jones Industrial Average rose 174.75 points, or 2.25 per cent, to 7,924.56. The Standard & Poor's 500 Index gained 18.98 points, or 2.33 per cent, to 832.86 and the Nasdaq Composite Index added 58.05 points, or 3.80 per cent, to 1,587.00.
Stocks across the Asia Pacific were trading mixed following cues from Wall Street. The Nikkei climbed 0.8 per cent, Topix rose 0.93 per cent, Hang Seng edged 0.04 per cent lower and Straits Times fell 1 per cent.
Back home, bulls were on a rampage fourth day running Thursday, helping the Sensex reclaim the 10,000 mark. The Nifty also tested the 3100 mark during the day but retreated towards the fag end of the session.
The market opened trade on a firm footing, and then there was no looking back. In step with strong global markets and boosted by short-covering on the last day of monthly derivatives contracts, the Indian stock market marched northward.
Bombay Stock Exchange’s Sensex settled at 10,003.10, up 335.20 points or 3.47 per cent. The index soared to an intra-day high of 10,061.36 after opening trade at 9,739.93. This is the first time since January 7, 2009 that the 30-share index scaled the 10000 mark.
National Stock Exchange’s Nifty advanced 3.28 per cent or 97.4 points to 3082.25. The 50-share index rose to a high of 3103.35 during the day. Midcaps and smallcaps space was also buzzing with activity. The BSE Midcap Index was up 1.16 per cent and the BSE Smallcap Index rose 0.69 per cent.
ForMoreInfo: http://economictimes.indiatimes.com/articleshow/4321856.cms
US stocks rose on Thursday, with the Nasdaq turning positive for the year-to-date, as a batch economic data that was not as dire as expected fed optimism the economy's worst days were behind.
The Dow Jones Industrial Average rose 174.75 points, or 2.25 per cent, to 7,924.56. The Standard & Poor's 500 Index gained 18.98 points, or 2.33 per cent, to 832.86 and the Nasdaq Composite Index added 58.05 points, or 3.80 per cent, to 1,587.00.
Stocks across the Asia Pacific were trading mixed following cues from Wall Street. The Nikkei climbed 0.8 per cent, Topix rose 0.93 per cent, Hang Seng edged 0.04 per cent lower and Straits Times fell 1 per cent.
Back home, bulls were on a rampage fourth day running Thursday, helping the Sensex reclaim the 10,000 mark. The Nifty also tested the 3100 mark during the day but retreated towards the fag end of the session.
The market opened trade on a firm footing, and then there was no looking back. In step with strong global markets and boosted by short-covering on the last day of monthly derivatives contracts, the Indian stock market marched northward.
Bombay Stock Exchange’s Sensex settled at 10,003.10, up 335.20 points or 3.47 per cent. The index soared to an intra-day high of 10,061.36 after opening trade at 9,739.93. This is the first time since January 7, 2009 that the 30-share index scaled the 10000 mark.
National Stock Exchange’s Nifty advanced 3.28 per cent or 97.4 points to 3082.25. The 50-share index rose to a high of 3103.35 during the day. Midcaps and smallcaps space was also buzzing with activity. The BSE Midcap Index was up 1.16 per cent and the BSE Smallcap Index rose 0.69 per cent.
ForMoreInfo: http://economictimes.indiatimes.com/articleshow/4321856.cms
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