From the global perspective, US stocks rose for a fifth day during a holiday-shortened, thinly traded session on Friday as investors picked up recently beaten-down shares of large technology companies. Market participants were also encouraged by signs of progress in talks about releasing aid to debt-saddled Greece and piled into US retail shares as Black Friday got the holiday shopping season under way. US stock market trading ended early and was closed on Thursday for the Thanksgiving holiday. Volume was the lightest of the year, though the session was abbreviated. Shares of big-cap technology companies climbed as investors took advantage of the day's upward momentum to add to positions, helping the S&P 500 rack up its second best week of 2012. Microsoft helped lift the Nasdaq, gaining 2.8 percent to $27.70, while Apple Inc rose 1.7 percent to $571.50. From mid-September to mid-November, the S&P tech sector shed about 13 percent as the broader market also dropped. Euro zone finance ministers, the IMF and European Central Bank ( ECB) failed earlier this week to agree on how to shrivel the country's debt to a sustainable level and will have a third attempt at resolving the issue on Monday. The Dow Jones industrial average gained 172.79 points, or 1.35 percent, to 13,009.68. The Standard & Poor's 500 Index rose 18.12 points, or 1.30 percent, to 1,409.15. The Nasdaq Composite Index climbed 40.30 points, or 1.38 percent, to 2,966.85. The S&P 500 broke a two-week losing streak to rise 3.6 percent. Stocks had tumbled earlier in the month on worries about the impact of tax and spending changes set to take effect from January, but hopes that politicians will reach a deal to avert the so-called fiscal cliff helped the market recoup some of those declines this week.
For the week, The Sensex was up 1.07% while the Nifty was up 0.94% during the week.
NEWS AFFECTING INDIAN MARKETS
CoalMin cancels 4 mines, asks Monnet to deposit Rs 62 cr BG
Bajaj Fin seeks Sebi approval for Rs 750cr rights issue
Refund Rs 400cr fine collected from telecom cos: SC to govt
Tata Steel to cut 900 jobs in Britain
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