Videocon Industries surged 6.3%, Blue Star rose 6% and Titan Industries rallied 3.5% by close of trade on Friday.
Advance tax pay-up by India Inc presents a rosy picture, despite a massive fall in April IIP numbers and a likely fall in the remaining months of Q1; with the largest lender SBI leading the pack with Rs 1,100 crore (Rs 11 billion) against Rs 850 crore (Rs 8.50 billion) in the year-ago period.
Key macroeconomic indicators suggest softening industrial growth.
Ernst & Young India on Tuesday said that despite the steep fall in headline inflation in August, the Reserve Bank is likely to persist with monetary tightening measures by hiking key policy rates by at least 25 basis points at its mid-quarter review on Thursday.
India's factory output maintained its robust pace in March, growing by 13.5 per cent despite monetary tightening and a partial roll back of stimulus measures. Driven largely by manufacturing, this was the sixth straight month of double-digit expansion.
'It appears the growth rate could be around six per cent'.
D&B sees January IIP to decline by 0.5-1.5 per cent. Last month the factory output, as measured in terms of the index of industrial production, had contracted by 0.6 per cent.
During April-May, growth in the eight core industries slowed to 3.3 per cent as against 4.9 per cent in the year-ago period.
The NSE index finally ended at 5,383 - up 31 points. Most of the sectoral indices were in the green today with realty index jumping 2.2% at 3,337. Bankex and IT were also up.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
Industrial growth zoomed to 16.8 per cent in December 2009, giving hope to the government that overall economic growth may be faster and rekindling a debate on withdrawal of stimulus packages in the Union Budget.
Technically speaking, US equities have seen net losses since January. India is strongly influenced by US trends.
The Indian markets ignored the lower than expected IIP numbers and ended with modest gains.
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
There is little doubt that the global economic crisis has worsened Indias growth prospects, but the slowdown began long before the US financial meltdown began.
Jyoti Basu, the 95-year-old communist, has lost touch with many of his comrades. But this morning the former chief minister of West Bengal did not forget to call his favourite Congressman to say, "Happy Birthday!"
Six core infrastructure industries grew at 4.5 per cent in February against a meagre 1.9 per cent during the corresponding month last year, primarily due to increased output in electricity (7.3 per cent). The core sector had grown by a robust 9.5 per cent in January 2010.
The Nifty closed at 5,137, up three points. The market breadth turned weak at close. Out of 2,921 stocks traded on the BSE, there were 1,037 advancing stocks as against 1804 declines.
Manufacturing sector, which constitutes over 77 per cent of the index, showed a decline of 0.4 per cent in June as compared to a growth of 7.5 per cent in the same month last year.
The government will unveil the Consumer Price Index data and the Wholesale Price Index data for August on Monday.
But it is likely that campaign spending resulted in some positive activity through this period.
After paring some gains, the 30-share index settled at an all-time closing high of 28,008.90, up by 98.84 points, or 0.35 per cent, over the previous close.
'The disease is we have models that are still based on debt and not equity. And banks are singularly not equipped to lend for longer duration projects, which often take 20 years.'
Manufacturing sector, which accounts for two-thirds of the industrial production, recorded a growth of 7.3 per cent in June indicating return of consumer demand in the market.
The Nifty ended down 14 points at 4,458. The market breadth was fairly negative - out of 2,681 stocks traded 1,367 declined while 1,215 advanced.
It is pegged at 6.8-8% by various economists, as compared to 6.7%.
According to the official industrial data, industry grew 2.7 per cent in May, more than double the 1.2 per cent in the previous month. During the month, manufacturing sector output rose by 2.5 per cent, while mining and power generation grew 3.7 per cent and 3.3 per cent, respectively.
Historically, there has been no correlation between growth in bank credit to industry and lower benchmark interest rate
Rate sensitive sectors were among the top gainers with Tata Motors and ICICI Bank leading the gains on the Sensex.
India owed $82.5 billion to foreigners as on June-end this year, 39 per cent higher than $59.4 billion three months back, in terms of the country's assets and liabilities to the international community.
Subramanian's paper comes at a time when concerns have been raised in various quarters about the official economic growth numbers. The Economic Advisory Council-PM said the Base Year of India's income calculations were shifted to 2011-12 on the basis of recommendations of several committees with experts in national income accounting.
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
The industrial production figures suggest the economy will grow by 7.5 per cent this fiscal and perhaps over 8.5 per cent in the next fiscal, Mukherjee told reporters in New Delhi.
Industrial output expanded 1.4 per cent in April after two months of decline, leading experts to predict that the economy had bottomed out. A return to 8-plus per cent industrial expansion was, however, some time away, they added.
Domestic policies rather than the global turmoil is what will really affect growth prospects.
The combination of sanctions, and low fuel prices is really hurting the Putin regime.
The industrial production index, which contracted by 0.4 per cent in October for the first time in 15 years, will continue to show a slowing trend till the end of 2009 with some chance of recovery later, feel economists.
The NSE Nifty settled at 5,117, down 17 points. The market breadth was fairly negative, out of 2,912 shares traaded, 1,754 declined and 1,084 advanced so far on the BSE.
After contracting for the first time in 15 years in October, industrial production again crashed by two per cent in December against a growth rate of a whopping 8 per cent a year ago despite a stimulus package announced by the government to boost sagging demand.
Industrial growth recovered to 7.1 per cent in July from the dismal performance in previous two months of the current fiscal, even though it moderated compared with 8.3 per cent recorded a year ago.
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