Sensex's highest surge in 6 months

MUMBAI: The Bombay Stock Exchange benchmark Sensex today jumped by 484 points — the highest rise in the last six months — to close at a fresh 33-month high on sustained capital flows amid firm global cues.

The 30-share barometer rose by 484.54 poins to 20,687.88 points, its best closing level since January 2008.

The wide-based National Stock Exchange index Nifty added 143 points to close at 6,233.90 points.
The market remained in bull orbit as foreign investors bought more shares than they sold for the 29th straight day after reports from China, Japan and Australia signaled that the global economic recovery is strengthening, brokers said.

They added that expectations of strong corporate earnings by leading companies beginning from this week-end also boosted the sentiment.

The market received further support following a firming trend in the Asian region and higher opening in Europe after the US Federal Reserve hinted that it may provide more stimulus measures.

The US central bank said it might provide more stimulus, with Tokyo getting an extra lift from glowing data on private-sector machinery orders.

The oil major and trend setter Reliance Industries spurted by Rs 18.25 to Rs 1,072.15 and second heaviest software exporter Infosys Technologies by Rs 76.30 to Rs 3,151.20. The two carry nearly 23 per cent weightage on the index.

In the 30-BSE index components, 28 stocks closed with gains and NTPC declined, while Cipla Ltd ended at last level.

The Sensex gained 28 per cent from the May 25 low, reaching more close to its all-time high level of 21,206.77 set on January 10, 2008, and become the best performer this year among the world's 10 biggest stock markets, brokers said.

The IT sector index rose the most by 3.15 per cent to 6,249.20 followed by Teck index by 2.72 per cent to 3,850.36. The capital goods index gained by 2.68 per cent to 16,426.36 and realty index by 2.51 per cent to 3,935.64.

As the buying activity spilled over a wide-front, the smallcap index advanced by 1.06 per cent to 10,761.52 and midcap index by 0.99 per cent to 8,436.94.


TOI

Govt asks BlackBerry to provide access to services by Dec 31

STAFF WRITER 16:59 HRS IST

New Delhi, Oct 12 (PTI) The government has extended till December 31 the deadline given to Research in Motion (RIM), maker of BlackBerry phones, to provide access to its messenger and enterprise services to the security agencies.

The decision has been taken by the Home Ministry after a meeting with representatives of RIM and the Ministry of Telecommunication.

Technical discussions on the BlackBerry Messenger Service (BMS) and BlackBerry Enterprise Service (BES) have been going on between the security agencies and the RIM. The latter has sought more time as the October 31 deadline given to the company was approaching.

"We are satisfied with the solution provided for the lawful interception of BMS. We want to test it for some more time while discussions on BES are still on, hence RIM has been given a fresh deadline," an official said.

(BMS) and BlackBerry Enterprise Service (BES) have been going on between the security agencies and the RIM. The latter has sought more time as the October 31 deadline given to the company was approaching.

"We are satisfied with the solution provided for the lawful interception of BMS. We want to test it for some more time while discussions on BES are still on, hence RIM has been given a fresh deadline," an official said.

Microsoft unveils 9 Windows 7 phones

NEW YORK: Microsoft Corp unveiled a new line of phones running its Windows software, as it attempts to pull back marketshare from Apple Inc's iPhone and Google Inc's Android system in the fast-growing market for multi-featured "smartphones."

The world's largest software company is hoping that the new phones, from handset makers Samsung , LG, HTC and Dell Inc, will propel it back into the mobile market, which many see as the key to the future of computing.

The new phones, initially available on AT&T Inc's network in the United States, are much closer in look and feel to Apple's iPhone, with colorful touchscreens and "tiles" for easy access to email, the Web, music and other applications.

Some analysts say they represent Microsoft's last chance to catch up with rivals in the smartphone market who overtook it in the past few years.

"I've been looking forward to this day for some time," said Microsoft Chief Executive Steve Ballmer, showing off nine phone models at a launch event in New York.

Ballmer, who has admitted that his company "missed a generation" with its recent unpopular phone offerings, said the new phones would eventually be available from 60 mobile operators in 30 countries.

The first phone from AT&T, priced at $200, will be available on November 8, said Ralph de la Vega, CEO of AT&T Mobility and Consumer Markets.

Microsoft has a marketshare of only 5 per cent in the global smartphone market, according to research firm Gartner, compared with 9 per cent a year ago. Google's Android system has a 17 per cent market share, jumping from only 2 per cent a year ago.

The market for multi-feature phones that allow users to email, surf the Web and play games, as well as have access to music and video, is set to expand massively.

Gartner expects almost 270 million smartphones to be sold around the world this year, up 56 per cent from last year. In comparison, Gartner expects only a 19 per cent increase in worldwide PC sales to 368 million units this year.

TOI

India industrial output growth slows to 5.6%

NEW DELHI: Industrial growth slowed down to 5.6 per cent in August from 10.6 per cent in the corresponding period last year, on the back of a 2.6 per cent contraction in the capital goods production.

Among the main industry segments, manufacturing activity declined to 5.9 per cent from 10.6 per cent a year ago. Mining sector growth was at 7 per cent as compared to 11 per cent in August last year.

Electricity generation growth, too, slowed down to one per cent from 10.6 per cent in August last year.

Capital goods sector contracted by 2.6 per cent in August, in comparison to 9.2 per cent growth in the year-ago period, official data released here said.

Also, consumer non-durables, which are mainly fast moving consumer goods (FMCG), recorded a negative growth of 1.2 per cent, in comparison to an expansion of 6.1 per cent in the same month last year.

Consumer durables was the only segment of goods, which saw an output growth over the year-ago period. In August consumer durables expanded by 26.5 per cent, as compared to 24.7 per cent in the year-ago period.

Of the 17 industry groups, as many as 14 have shown positive growth during the month of August. The industrial expansion figure for July was revised upwards to 15.2 per cent from the earlier estimates of 13.8 per cent.

Industrial growth for the first five months of this fiscal stood at 10.6 per cent in comparison to 5.9 per cent growth in the same period a year ago.

Experts had projected that the industry growth might slip to single-digit level because of the high base effect of last year.

Moderate growth in core sectors, which accounts for 26.7 per cent of the total industrial output , was also seen pulling down growth in factory output in August, experts said.

The core sector, which includes crude oil, petroleum refinery products, coal, electricity, cement and finished steel, grew by 3.7 per cent in August. The growth had slowed from 3.9 per cent recorded in July.

TOI