Sensex, Nifty hit 10-month highs as bourses progress rapidly

Indian Market progressed rapidly with key indices -- Sensex and Nifty -- hitting nearly ten-month highs as investors were heartened by new
Government's economic agenda, unveiled by President Pratibha Patil in the week under review. The markets achieved new highs in sustained volatility and the Sensex closed past the 15,000-psychological level for the first time since September 2, 2008
European shares rose on Friday, with Rio Tinto leading miners higher after scrapping a planned tie-up with Chinalco, and energy companies rising on higher crude prices. Key benchmark indices indices in France, Germany and UK rose by between 0.54% to 1.58%.
. Asian shares rose on Friday as hopes for a global economic recovery drove up appetite for riskier assets, but traders were cautious ahead of U.S. monthly job data. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore rose by between 0.96% to 1.42%. Key indices in Taiwan and China fell by between 0.28% to 0.48%.
U.S. nonfarm payrolls data due later in the day is expected to show employers cut 520,000 jobs in May 2009, lower than 539,000 in April 2009, and the unemployment rate is forecast to rise to 9.2 % from 8.9 % in April 2009.
Trading in the US index futures indicated Dow could rise 19 points at the opening bell today 5 June 2009.

India's largest software services exporter by sales TCS rose 1.93%.
Cement stocks rose on posting healthy growth in shipments in the month of May 2009. India Cements, Grasim Industries, ACC, Ambuja Cements rose by between 0.68% to 6.06%.
Some capital goods stocks rose on hopes the UPA government's aim to revive economic growth would spur orders. Larsen & Toubro, Bharat Heavy Electricals, Crompton Greaves, Siemens, Thermax, Praj Industries rose by between 0.78% to 5.3%.
Auto stocks rose on posting good monthly sales figures in the month of May 2009. Tata Motors, Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki India and Hero Honda Motors rose by between 0.73% to 5.64%.
Healthcare stocks rose on hopes newly elected UPA government will give primary importance to healthcare segment and health of citizens. Ranbaxy Laboratories, Dr Reddy's Laboratories, Biocon, Wochardt, Pfizer rose by between 0.41% to 6.22%.
Telecom stocks rose on hopes government may speed up the auction process for the spectrum allocation of third generation WiMax services and stress on rural telephony. Idea Cellular and Bharti Airtel rose by between 1.56% to 1.59%. Reliance Communications fell 0.98%.
Metal stocks as Copper rose in London, heading for a third straight weekly gain, on speculation that the pace of job cuts slowed in the U.S., adding to indications that the worst of the economic slump may be past. Steel Authority of India, National Aluminum Company, Hindalco Industries and Sterlite Industries rose by between 0.77% to 3.39%.
Hindustan Zinc rose 0.05% on raising zinc and lead prices.
Sugar stocks rose on hopes of a firm sugar prices on fall in output. Dhampur Sugar, Shree Renuka Sugars and Bajaj Hindustan rose by between 2.74% to 8.92%.
Shares of multiplex cinema operators rose on reports talks between Bollywood producers and multiplex owners came to an end as the two parties reached a revenue sharing deal. Cinemax India, Adlabs Films, PVR, Inox Leisure, Pyramid Saimira, and Fame India rose by between 0.95% to 5%.
Cals Refineries clocked the highest volume of 8.61 crore shares on BSE. Jaiprakash Associates (3.2 crore shares), Unitech (3.05 crore shares), Satyam computer Services (2.65 crore shares) and Ispat Industries (2.26 crore shares) were the other volume toppers in that order.
Jaiprkash Hydro Power clocked the highest turnover of Rs 308.19 crore on BSE. Unitech (Rs 298.34 crore), Suzlon Energy (Rs 292.50 crore), Reliance Capital (Rs 274.32 crore) and Reliance Industries (Rs 217.99 crore) were the other turnover toppers in that order.
Sensex settles above 15,000 level; at nine-month

( 5 th June 2009 /Economic Times & other leading News channels)