Today our markets ended up with handsome gains amidst volitility. The sensex rose by 384 points 2.31%) & Nifty rose by 110 points (2.21%). Sensex has closed above 17k & Nifty above 5k. This was mainly due to the two reasons: news of Truce between Ambani Brothers & positive IIP data.
India's industrial output grew at its fastest pace in 22 months in August as factories cranked out more big-ticket household goods and cars as stimulus spending drove demand, but economists said the Reserve Bank was unlikely to lift interest rates at its review later this month.
India's industrial output grew at its fastest pace in 22 months in August as factories cranked out more big-ticket household goods and cars as stimulus spending drove demand, but economists said the Reserve Bank was unlikely to lift interest rates at its review later this month.
Industry production grew by 10.4% in August against just 1.7% in the same month a year ago, as manufacturing, mining and electricity sectors recorded double digit growth. The industrial upsurge may make up for likely decline in farm production, hit by weak monsoon. These data has beaten the median forecast in a Reuters poll. Also July's annual growth was revised up to 7.2 percent from 6.8% earlier.
From the IIP data declared today for Aug-09, it seems that the recovery is around the corner. This clearly shows that the Q3 & Q4 earnings will be better than expected and we might see the upsurge in the buying from DIIs & FIIs both. Also the retail participation will increase to an extent.
But still many analysts are cautious about the exuberance showed by Indian bourses.
From the IIP data declared today for Aug-09, it seems that the recovery is around the corner. This clearly shows that the Q3 & Q4 earnings will be better than expected and we might see the upsurge in the buying from DIIs & FIIs both. Also the retail participation will increase to an extent.
But still many analysts are cautious about the exuberance showed by Indian bourses.
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