Sensex Likely to Gain on Thursday Amid Japan Stimulus Hopes
By IBTimes Staff Reporter | January 17, 2013 2:47 PM EST
India’s Sensex is expected to rise on Thursday as investor confidence is likely to be lifted amid hopes that policymakers in Japan will soon announce more stimulus measures to boost the economy.
On Thursday, Japan's Nikkei Stock Average was up 0.09 percent, or 9.73 points, to 10610.17. Among major gainers were Sony Corp (4.75 percent), Nec Corp (4.50 percent) and Denso Corp (2.87 percent).
Hong Kong's Hang Seng marginally declined 0.02 percent, or 4.62 points, to 23352.37. Among major losers were Wharf Holdings Ltd (0.93 percent) and Tencent Holdings Ltd (1.50 percent).
South Korea’s Kospi Composite Index fell 0.22 percent, or 4.43 points, to 1973.02. Shares of Samsung Electronics Co Ltd dropped 1.94 percent and shares of LG Electronics Inc were up 1.66 percent.
On Wednesday, the U.S. stocks were mixed with investors continuing to remain watchful focusing on the earnings to be reported this week. JPMorgan Chase & Co. (NYSE: JPM) reported before the market opened that the company’s net income climbed to $5.69 billion in the fourth quarter up from $3.73 billion in the same period the earlier year. Goldman Sachs Group Inc. (NYSE: GS) reported that the company’s net earnings rose to $2.89 billion in the fourth quarter up from $1.01 billion in the same period the earlier year.
Meanwhile, according to the data released on Wednesday by the Department of Labor, the Consumer Price Index, which measures the change in the price of goods and services from the consumers' perspective, remained flat in December, from a 0.3 percent decrease in November. Also, according to the data released on Wednesday by the Federal Reserve, the Industrial Production and Capacity Utilization report, which measures the change in the total inflation-adjusted value of output produced by manufacturers, mines and utilities, rose 0.3 percent in December after a 1.1 percent increase in November.
The Dow Jones Industrial Average fell 0.17 percent, the S&P 500 Index was up 0.02 percent and the Nasdaq Composite Index gained 0.22 percent.
European markets were mixed on Wednesday as investor sentiment was weighed down by concerns of faltering economic growth momentum in the euro zone. London's FTSE 100 was down 13.33 points, Germany's DAX 30 index rose 15.22 points and France's CAC 40 gained 11.14 points.
On Wednesday, the Sensex dropped 169.19 points to close at 19817.63. The overall market breadth was negative with 938 advances against 2001 declines. The BSE's Midcap Index fell 1.35 percent to 7164.68 and Smallcap Index declined 1.24 percent to 7411.71.
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