By RTT News, October 03, 2013, 12:33:00 AM EDT
(RTTNews.com) - Indian shares rose on Thursday, tracking gains elsewhere across Asia after official data showed activity in China's services sector expanded at the fastest pace in six months in September. The rupee is trading firm at 62.10 per dollar as the dollar weakened against its major rivals amid few signs of progress toward ending the U.S. budget impasse and raising the debt ceiling.
Meanwhile, concerns over the political situation in Italy eased after Premier Enrico Letta won a confidence vote following a last-minute U-turn by former PM Silvio Berlusconi.
The benchmark BSE Sensex is rising 126 points or 0.65 percent to 19,643, while the broader Nifty index is at 5,822, up 42 points or 0.73 percent from its previous close.
Tata Motors is moving up 0.8 percent despite reporting a 33 percent decline in its September sales. Hero MotoCorp is adding a percent on posting a 16 percent increase in monthly sales. Bajaj Auto is gaining half a percent on reporting a modest 2 percent rise in September sales.
Sun Pharmaceuticals Industries is rising 1.3 percent as the company entered into an alliance with U.S.-based Intrexon Corp. to develop controllable gene-based therapies for the treatment of eye-related diseases.
Ashok Leyland is posting a modest 0.3 percent gain after selling its testing and engineering company. Glenmark Pharmaceuticals, GlaxoSmithkline Consumer Healthcare and United Breweries are up about 2 percent each as the National Stock Exchange included them in the F&O segment effective today.
Tata Communications is rallying 5 percent on a report in the Economic Times that it is building a multi-service regional network infrastructure in the UAE to enable direct routing of traffic between the Middle East and Africa, Asia and Europe.
Jet Airways is climbing 4.2 percent on reports market regulator SEBI has cleared the company's proposed sale of a 24 percent stake to Abu Dhabi-based Etihad Airways.
Financial Technologies is losing 2 percent. The Ministry of Corporate Affairs has ordered the inspection of account books of the company and its subsidiary NSEL to probe if they have violated rules under the Companies Act.
Telecom giant Bharti Airtel is declining 1.2 percent on reports a panel of Department of Telecommunications has questioned sector regulator TRAI's proposal to cut spectrum auction floor prices.
Benchmark indexes Sensex and the Nifty rose 0.7 percent and 0.8 percent, respectively on Tuesday on easing concerns over deficit financing after India's current account deficit for the first quarter came in below expectations. The stock markets were closed on Wednesday on account of Gandhi Jayanthi.
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