Local market may open higher today, 17 April 2008, following firm global cues. Asian markets were trading higher today, 17 April 2008. US markets settled with decent gains yesterday, 16 April 2008.
Asian markets were trading higher today, 17 April 2008. Japan's Nikkei (up 2.33% at 13,452.23), Hang Seng (up 1.69% at 24,280.76), Taiwan's Taiwan Weighted (up 0.67% at 9,127.13), Singapore's Straits Times (up 1.80% at 3,143.07) and South Korea's Seoul Composite (up 1.13% at 1,778.43) edged higher.
Wall Street shares surged to end at their highs for the day yesterday, 16 April 2008, as investors cheered the latest round of earnings, which included Intel and JP Morgan. JP Morgan was the biggest gainer at 6%. Inspite of a 50% drop in profits it still beat street expectations. The Dow Jones industrial average gained 256 points to 12,619. The Nasdaq Composite advanced 64 points at 2,350. While the S&P 500 index gained 30 points to 1,364.
Back home, gains in three index heavyweights Infosys, Reliance Industries and ICICI Bank led gains in the key benchmark indices on Wednesday, 16 April 2008. The 30-share BSE Sensex rose 90.53 points or 0.56% at 16,244.19 while the S&P CNX Nifty rose 7.65 points or 0.16% at 4887.30 on that day.
Sensex has gained 1434.7 points or 9.68% from a low of 14,809.49 on 17 March 2008. It is off 4962.58 points or 23.40% from a record high of 21206.77 hit on 10 January 2008.
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