Indian shares gain on better profit outlook

Source: Dukascopy Bank SA
© scanpix/AFP
Most emerging-market equities advanced today on better earnings prospects for Chinese companies, yet investors are concerned over whether the U.S. lawmakers will compromise on resolving "fiscal cliff" before the deadline. Indian shares also slightly increased amid investors adding to their domestic shares' holdings. In addition, India, having one of the worst performing currencies, faces inflation and economic slowdown that the nation must deal with in the year 2013. The Indian SENSEX index advanced 0.84%, or 162.37 points, to 19,417.46. All but one sector rallied with Telecommunications shares gaining the most by 2.72%, while Financials and Industrials surged 1.31% and 1.19%. India's largest cell-phone operator Bharti Airtel rallied 2.7%, while ICICI Bank and State Bank of India surged 2.38% and 1.84%, respectively. The only sector that declined was Technology with its shares tumbling 0.21%. Among worst performers were Hindustan Unilever dropping 1.40%, Hero Motocap decreasing 0.85% and Tata Motor losing 0.42%.
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Wed, 26 Dec 2012 16:35:32 GMT

Nikkei 225 Stock Average

Japanese equities gained on speculation the nation's new prime minister would launch more aggressive fiscal and monetary policies.  The new prime minister Shinzo Abe pledged for more monetary easing and big government spending to recover the Japanese economy from its fourth recession. Meanwhile, the yen weakened to its lowest level since April 2011, boosting up the shares of exporting companies.

Wed, 26 Dec 2012 14:15:31 GMT

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