Indian Stocks Swing Between Gains, Losses; Sterlite Drops
Indian stocks climbed the most in Asia before key economic data on factory output and inflation this week, and ahead of a ruling on Germany’s participation in an European bailout fund.
The BSE India Sensitive Index (SENSEX), or Sensex, rose 0.5 percent to 17,858.79, according to preliminary closing prices. Housing Development Finance Corp. (HDFC), the biggest mortgage lender, climbed to its highest in about two years. Tata Consultancy Services Ltd. (TCS), the largest software exporter, surged to a record.
India’s factory production may have risen in July, and inflation probably quickened to more than 7 percent in August, Bloomberg surveys show. Germany’s Federal Constitutional Court is due to rule tomorrow on the country’s participation in the European Stability Mechanism, while Greek politicians meet amid an impasse on spending cuts needed for a bailout. The U.S. Federal Reserve starts a two-day meeting tomorrow.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org