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Sensex reclaims 12000; metals, banks lead

This article was posted on May 7, 2009 and is filed under Market News

MUMBAI: Equities opened higher Thursday after last hour selling pressure in the previous session. Buoyant cues from global shores aided the positive sentiment. All sectoral indices posted decent gains. Bombay Stock Exchange’s Sensex was up 111 points at 12064. National Stock Exchange’s Nifty was trading at 3660, higher by 35.55 points.

US stocks rose on Wednesday after a private sector reading on the labor market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than expected.

The Dow Jones Industrial Average gained 101.63 points, or 1.21 per cent, to 8,512.28, the Standard & Poor’s 500 Index gained 15.73 points, or 1.74 per cent, to 919.53 and the Nasdaq Composite Index gained 4.98 points, or 0.28 per cent, to 1,759.10.

Asian markets are trading on a firm note ahead of the stress test results. The Nikkei 225 Stock Average climbed 4.5 percent to 9,379.02 after three-day holiday. Australia’s S&P/ASX 200 Index added 2.2 percent as a statistics bureau report said employers unexpectedly added workers in April, buoying investor optimism. Hong Kong’s climbed 1.59 per cent, Singapore’s Straits Times advanced 1.57 per cent and South Korea’s Kospi inched 0.8 per cent higher.

source: Economictimes

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