The Sensex rose 23.65 points to close at 20272.91 on
Thursday, and the Nifty advanced 13.50 points to 6020.95 while the broader
markets outperformed benchmarks. On the macro front, a continued positive trend
from the August IIP data is expected on the back of strong core sector growth.
A CNBC-TV18 Poll sees the IIP number coming in at 2.5 percent. Meanwhile, September
CPI is likely to remain still elevated at levels above nine percent.
◘ US Markets
The US markets catapulted with an over two percent rally
across the board to register their second biggest gains this year as lawmakers
move closer to resolving the debt crisis.
◘
European Markets
Europe too closed out the session with solid gains. The FTSE
provisionally closed up 1.6 percent to 1244.19 points, stopping a three-day
losing streak, with a broad-based rally displacing the weak investor sentiment
seen in the last nine sessions.
◘
Asian Markets
Currently, the Asian markets are following suit with the
Nikkei spiking over one percent in early trade. Japan's Nikkei, the Shanghai
Composite, Australia's S&P ASX 200 and South Korea's Kospi index all
rallied over 1 percent each.
Asian stocks jumped to three-week highs on Friday, propelled
by gains on Wall Street as investors took a chance and cheered perceived
progress to avert a possible US default, even as questions remained over
whether a deal could be struck, reported Reuters.
China's Shanghai Composite added 0.99 percent or 21.66
points at 2,212.59.
Hong Kong's Hang Seng rose 1.50 percent or 345.35 points at
23,296.65.
Japan's Nikkei gained 1.29 percent or 182.97 points at
14,377.68.
Singapore's Straits Times was up 0.46 percent or 14.59
points at 3,184.50.
South Korea's Seoul Composite advanced 1.04 percent or 20.78
points at 2,022.18.
Taiwan's Taiwan Weighted jumped 0.34 percent or 28.35 points
at 8,373.08.
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