New York - Wall Street continued its three-day rally with the three major indices up about 4 per cent on Thursday led by General Electric and Bank of America shares.
General Electric gained 13 per cent to 9.57 dollars per share after it said a cut in its credit rating was unlikely to impact business, and Bank of America picked up 19 per cent to 5.85 dollars.
"Those banks have been beaten down to almost nothing - same goes for GE - so any kind of good news would allow for a bounce," investment strategist Bruce Bittles told Bloomberg financial news.
Despite weak opening of European markets, Indian equities extended their gains this afternoon, with a key index ruling about 2.60 per cent higher than its previous close an hour before the closing bell.
However, inflation and IIP figures backed the market reaction.
Industrial production slipped by 0.5% in January 2009 despite stimulus packages declared by the administration to defend against the impact of worldwide slump.
This is the third time repeatedly where IIP contracted during this fiscal.
Washington, Mar 12: Wishful bettors, who make overly optimistic investments, not only harm themselves financially but contaminate the entire markets as well, say researchers.
The research team from the University of Texas at Austin and Cornell University showed how wishful betting could harm beliefs throughout markets, as other market participants assume that wishful bettors possess more favourable information than they do.
As a result, investors who initially held accurate beliefs become overly optimistic about stock values.
After a two-day break, the Sensex advanced in early trade in a catch-up rally because of continued buying action witnessed IT and FMCG stocks.
Industrial output data is likely to be declared today.
BSE Midcap and Smallcap index gained 0.56% and 0.52% respectively.
Sudhanshu Pandey, technical analyst with LKP Shares, said, “The markets are witnessing a technical bounce. Investors should avoid bottom fishing at this stage.”
Tokyo - Stocks in Tokyo fell in Thursday morning trading when investors sold shares to lock in profits from the previous day's gains.
The benchmark Nikkei 225 Stock Average fell 79.02 points, or 1.07 per cent, to 7,297.1 after closing 4.55 per cent higher Wednesday.
The broader Topix index of all first-section issues also fell 15.93 points, or 2.21 per cent, to 706.35, a day after rising 2.67 per cent after surges on Wall Street and hopes for stabilization in the financial industry.
New York - US stocks finished their biggest two-day rally since New Year's on Wednesday, inching upwards as JPMorgan Chase & Co joined Citigroup with an optimistic report on profits and sparked further speculation that the financial crisis may be waning.
JPMorgan Chase shares climbed 4.6 per cent after CEO James Dimon said that his bank, too, was profitable in January and February, the Wall Street Journal reported.
New York - Wall Street continued its three-day rally with the three major indices up about 4 per cent on Thursday led by General Electric and Bank of America shares.
Despite weak opening of European markets, Indian equities extended their gains this afternoon, with a key index ruling about 2.60 per cent higher than its previous close an hour before the closing bell. 
Washington, Mar 12: Wishful bettors, who make overly optimistic investments, not only harm themselves financially but contaminate the entire markets as well, say researchers.
After a two-day break, the Sensex advanced in early trade in a catch-up rally because of continued buying action witnessed IT and FMCG stocks.
Tokyo - Stocks in Tokyo fell in Thursday morning trading when investors sold shares to lock in profits from the previous day's gains.
New York - US stocks finished their biggest two-day rally since New Year's on Wednesday, inching upwards as JPMorgan Chase & Co joined Citigroup with an optimistic report on profits and sparked further speculation that the financial crisis may be waning.
