The major equity indices trimmed gains after opening higher
on the back of firm Asian stocks and latest data from US that indicated that US
housing market continues to improve. Asian stocks edged higher on Thursday
after the latest data showed that growth rate in China's industrial production
and retail sales accelerated in September 2012. The market breadth was strong
with seven advancing stocks for every five declining stock. On the sectoral
front, realty gained by nearly a percentage point while Auto & Power gained
by almost half a percentage point. Metals and Oil & Gas traded with
negative bias with losses of nearly 25 basis points. Telecom stocks dropped
after the Telecom Commission recommended that all spectrum given to
operators in the 900-MHz band should be refarmed to the 1,800-MHz band at the
time of renewal of licences, beginning 2014.
(pic courtesy: bseindia.com)
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