MP Rana, Tuesday 17th January 2012 
After a rally in the Asian markets, the Sensex witnessed one percent rise in an early trade. As a matter of fact, all the markets in Asia dared to ignore the eurozone worries and focused on the 4th quarterly GDP data of China which was a 2.5 year low with 8.9 percent.
However, this figure of China’s gross domestic growth definitely defeated the market’s expectations which was 8.7 percent.
Sensex gained 169 points to reach 16,358.28, whereas, Nifty gained 52 points and closed at 4,925.70. The figure shows that, on Monday, markets in Asia were making high trades even though S&P, a rating agency, downgraded the European Financial Stability Facility (EFSF) from AAA to AA+.
S&P commented that after 2 leading guarantors Austria and France lost AAA rating it was quite obvious that EFSF will also be downgraded.
During this period, DLF, SAIL, JP Associates, Reliance Industries, Bharti Airtel, BHEL, SBI, Sterlite, L&T, Axis Bank, Bajaj Auto and Maruti managed to gain 1 to 2 percent in the early trade. However, Infosys could manage just 0.6 percent raise.
On the other hand, HUL, ITC and HDFC faced a downfall in this period.
Just before the meeting regarding FDI in aviation to be held today, Jet Airways as well as Kingfisher Airlines also gained 2 percent.
|