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Market Update : 
IIP Growth Slows, Rupee Falls
Author: 123jump.com Staff
123jump.com
Last Update: 7:03 PM EDT May 12 2008

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Industrial production in March fell to 3% and for the fiscal year ending in the month declined to 8.1% from 11.6% a year ago. The sharp fall in manufacturing sector output dragged the index lower in the month. Rupee fell in trading to 41.63 on the news. Software exporters rose after a weakness in rupee. TCS, Infosys, Wipro and Satyam rose. Ranbaxy gained 5% after it agreed to develop for the U.S. based Merck anti-infection drug.

 
Jaiprakash Associates fell 1.8% to 21.46.85, ACC declined 1.3% to 703 rupees and Hindustan Unilever fell 1.4% to 246.95 rupees.

World markets review

In Tokyo Nikkei 225 Index closed higher 88.02 or 0.64% to 13,743.36, in Australia ASX 200 index higher 56.70 or 0.98% to close 5,828.50. In Malaysia KL Composite index increased 7.82 or 0.61% closed to 1,293.09. Market of Hong Kong was closed today.

In Thailand SET index closed lower 4.49 or 0.53% to 842.22 and Indonesia JSE Index edged increased 2.98 or 0.13% to 2,378.00. Sensex index in India increased 123.90 or 0.74% to 16,860.90. Market of South Korea was closed today.

Dow Jones Industrial Average rose 130.40 or 1.02% to a close of 12,876.31, S&P 500 closed up 15.30 or 1.10% to 1,403.58, and Nasdaq Composite Index increased 42.97 or 1.76% to close at 2,488.49. In Toronto TSX Composite closed up 144.88 or 1.01% to 14,666.07.
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