Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT tid,hits,start_time FROM biztimes_stats.stats_articles_au WHERE tid='431928' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT cmt_count FROM ib_articles_counts WHERE id='431928' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_sources WHERE id='6001' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_articles_options WHERE article_id='431928' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='277' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='251' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_rates WHERE article_id='431928' LIMIT 1 Sensex Likely to Rise on Wednesday Amid Upbeat US Data - International Business Times

Sensex Likely to Rise on Wednesday Amid Upbeat US Data

  • Rate this Story
  • 0
  • 0

By IBTimes Staff Reporter | February 6, 2013 2:41 PM EST

India’s Sensex is expected to rise on Wednesday as investor confidence is likely to be lifted amid encouraging economic indicator reported in the US.

On Tuesday, the US stocks rose as investor sentiment turned positive amid cheering economic report. According to data released on Tuesday by the Institute for Supply Management,  non-manufacturing Purchasing Managers’ Index, also known as the ISM Services PMI which rates the relative level of business conditions including employment, production, new orders, prices, supplier deliveries and inventories, fell to 55.2 in January, down from 55.7 in December. Significantly, a level above 50 represents expansion in the industry.

Meanwhile, BP Plc reported on Tuesday that the company’s profit before tax dropped to $3.46 billion in the fourth quarter, from $11.12 billion in the same period the earlier year. Also, Walt Disney Co reported that the company’s net income declined to $ 1.38 billion or $0.77 per share in the first quarter, from $1.46 billion or $0.80 per share in the same period the earlier year.

The Dow Jones Industrial Average rose 0.71 percent, the S&P 500 Index was up 1.04 percent and the Nasdaq Composite Index gained 1.29 percent.

On Wednesday, Hong Kong's Hang Seng rose 0.47 percent, or 109.36 points, to 23257.89. Among major gainers were HSBC Holdings plc (0.95 percent) and Wharf (Holdings) Limited (1.55 percent).

Japan's Nikkei Stock Average was up 3.03 percent, or 335.24 points, to 11382.16. Among major gainers were Nichirei Corp (6.26 percent), Tokuyama Corp (5.52 percent) and Panasonic Corp (3.90 percent).

South Korea’s Kospi Composite Index gained 0.09 percent, or 1.70 points, to 1939.88. Shares of Samsung Electronics Co Ltd rose 0.21 percent and shares of LG Electronics Inc were up 0.58 percent.

On Tuesday, the Sensex declined 91.37 points to close at 19659.82. The overall market breadth was negative with 819 advances against 1417 declines. The BSE's Midcap Index fell 0.66 percent to 6863.70 and Smallcap Index dropped 1.01 percent to 6935.67.

To contact the editor, e-mail:

Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp>1413942599 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp<1413942599 AND timestamp>1413683399 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10
  • Rate this Story
  • 0
  • 0

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.