Saturday, 29 December 2012

Sensex, Nifty rise over 0.5 per cent

US stocks fell for a fifth straight day on Friday, dropping 1 per cent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.

Based on the latest available data, the Dow Jones industrial average fell 158.20 points, or 1.21 per cent, to finish unofficially at 12,938.11. The Standard & Poor's 500 Index dropped 15.67 points, or 1.11 per cent, to close unofficially at 1,402.43. The Nasdaq Composite Index lost 25.59 points, or 0.86 per cent, to end unofficially at 2,960.31.

The Sensex advanced by 105 points in late morning trade today on all-round buying from operators on the back of firm Asian cues. Shares of refinery, power, PSU, metal, IT and realty firmed up on renewed demand.

IT stocks rose on hopes that the US lawmakers will try to reach a deal to break the budget impasse before the end of the year.

The Bombay Stock Exchange's 30-share index resumed higher at 19,364.08 and shot up further to 19,445.04 before quoting 19,428.73 at 10:35 a.m., showing a gain of 104.93 points, or 0.54 per cent, from its last close.


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