INDIAN EQUITY BENCHMARK surged nearly 2 percent to mark their biggest single-day gain in nearly a month. The rally was largely led by Reliance Industries after the cabinet decision on gas price and liquidity gush by foreign institutional investors despite Fed's decision to taper. The market sentiment was also cheered by data showing that FIIs made substantial purchases of Indian stocks yesterday. Further, Maruti Suzuki India ended higher by 2%, extending its previous day’s 3% rally, on reports that the company’s foreign promoter is planning to increase its holding in the company.
Shares of information technology (IT) companies mainly mid and small-sized were in demand with many of them trading at their 52-week highs on the National Stock Exchange (NSE)
GLOBAL FACE
Asian stocks were mainly weaker ahead of a Bank of Japan
policy review in which the board unanimously, stood pat on its
monetary base policy target and pace of asset purchases.
European stocks were mixed to higher, as investors were still
digesting news that the Federal Reserve will begin tapering its
stimulus program as soon as next month.
U.S. stock were higher, ahead of the release of U.S. economic
growth data, while markets were still digesting recent news
the Fed Reserve begin tapering its stimulus program in Jan.
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