Stocks in Mumbai gained for the eight day in a row after foreign investors ratchet up deals. NTT DoCoMo Inc agreed to invest $180 million, Vodafone Group paid $5 billion to Essar Group to increase its stake in Vodafone India and International Paper acquired 54% stake in Andhra Pradesh Paper Mills.
Mumbai stocks surged for the seventh day in a row after foreign investors increased net stock purchase in the last one week and crude oil price eased. Silver hit another high and gold near recent highs. Reliance Industries won two oil exploration blocks and ONGC won ten.
Stocks in Mumbai traded higher for the sixth day in a row after crude oil prices eased. The index has soared 6% since the low on March 21. Hero Honda won a government approval for foreign investment. Punjab National Bank and Corporation Bank sold stocks to the government of India at a premium.
Stocks in Mumbai traded higher after the crude oil eased and investors focused on earnings season. Reliance Industries announced a joint venture with U.S. based D.E. Shaw Group to expand in financial services. India attracted 74 bids for 33 oil blocks in its nine round of auction.
The Sensex index in Mumbai trading soared 2.3% and for the week added 5.2%. The positive earnings outlook and improving sentiment in world markets emboldened investors. Software exporters led gainers after the industry sought tax relief. Financial Technologies plans to list its commodities exchange.
Stocks in Mumbai traded higher for the third day despite the latest read on inflation showed an increase and crude oil price surged for the fifth week in a row. Investors are factoring higher earnings from banks, infrastructure and software exporters.
Stocks in Mumbai traded higher on the confidence that rising crude oil prices will not derail economic growth and corporate earnings. The Sensex index gained 1.2%. The Lok Sabha, the lower house of the Parliament approved the Finance Bill 2011.
Stocks in Mumbai opened higher and added as much as 1% but settled lower. The ruling coalition introduced two bills in the Parliament to reform banking sector and to transition to the value-added-tax regime.
Stocks in Mumbai traded lower after crude oil prices gain stoked the worries of higher inflation and prompted analysts to talk of a market correction of further 5%. Mahindra & Mahindra completed the purchase of a stake in Korean engine maker. Power Finance Corp approved $800 million offering.
Stocks in Mumbai declined on the worries that another hike in retail petrol prices will stoke a new round of inflation. Political noise also notched up after a leaked U.S. diplomatic cable hinted that Congress Party offered bribes to win the nuclear treaty vote in Parliament.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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