Strong global cues helped push Indian stocks to a one-week high on Monday as Far East investors found bargains in banking, realty and information technology names. Market players said Asian stocks were helped by a strong rally in the dollar against the yen and by the easing of crude oil prices after news broke that Saudi Arabia plans to increase oil production in July by a half-million barrels a day.
"We are following the global markets rally," said Jayesh Shroff, who helps manage abound $7.5 billion at SBI Asset Management Company.
The Bombay Stock Exchange's Sensex Index traded up 206.20 points, or 1.4%, to 15,395.82. Here's a look at how some India-based American depositary shares traded in the U.S. on Monday.
The index committee for the Bombay Stock Exchange has introduced some changes to the firms that make up the Sensex index. Starting on July 28, Tata Power and Sterlite Industries(SLT Quote) will replace Ambuja Cements and Cipla. American depositary shares of Sterlite, which trade on the NYSE, added 1.3% to $18.63. ...
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