Market Eye: Indian shares edge higher; GlaxoSmithKline Pharma surges

IDFC

16/12/2013 04:26

* India's benchmark BSE index  .BSESN  gains 0.15 percent, while 
the broader NSE index  .NSEI  is up 0.12 percent.  
* Lenders gain on value buying after four days of falls. IDFC 
Ltd  IDFC.NS  gains 1.6 percent after falling more than 10 
percent in four sessions, while ICICI Bank Ltd  ICBK.NS  is up 
1.2 percent. 
* GlaxoSmithKline Pharmaceuticals Ltd  GLAX.NS  surges 19.1 
percent after GlaxoSmithKline Plc  GSK.L  said on Monday it 
plans to spend over $1 billion to buy up to 20.6 million shares 
to raise its stake in its Indian unit.  ID:nL3N0JV0O7  
* However, foreign institutional investors (FIIs) sold Indian 
shares worth 4.32 billion rupees ($69.49 million) on Friday, to 
snap their 10-day buying streak, exchange and regulatory data 
shows.  ID:nL3N0JV0PZ  
* Wholesale price-based inflation due at about 0600 GMT on watch 
ahead of the central bank's policy review and the U.S. Federal 
Reserve meet later this week. 
 
 (abhishek.vishnoi@thomsonreuters.com /; 
abhishek.vishnoi.thomsonreuters.com@reuters.net)