In the IT space, Infosys rose 0.75 percent at USD 53.92 and Wipro was up 2.3 percent at USD 11.58.
In the other sectors, Tata Motors rose 0.27 percent at USD 30.20 and Dr Reddys Laboratories jumped 1.6 percent at USD 39.34.
The Dow industrials ended at another record high above 16,000.
Both the Dow and the S&P 500 recorded their seventh straight week of gains in what has been a very strong year for stocks. The seven-week advance comes just ahead of December, which since 1950 has been the best month for both the Dow and the S&P.
"We're advising our clients to take this ride until the end of the year," said Drew Nordlicht, managing director and partner at Hightower San Diego.
The Nasdaq Biotech Index jumped 3 percent, driven by a surge in Biogen Idec.
Shares of Biogen shot up 13.2 percent on heavy volume to USD 285.62 after the company won 10 years of exclusivity protection for its multiple sclerosis drug, Tecfidera, from regulators in Europe.
"Healthcare is the place to be. It's a hot area. People want stocks in healthcare, industrials and consumer discretionary. That's where tactical investors have been focused, and that's where the money has been flowing," said
Michael Matousek, head trader at US Global Investors Inc, in San Antonio, Texas.
European regulators also recommended approval of a new drug for hepatitis C from Gilead Sciences, which pushed its shares up 3.7 percent to USD 74.27.
The S&P 500 healthcare sector index has gained 37.5 percent so far in 2013, making it the S&P 500's best-performing sector this year.
Such moves give investors who have enjoyed some of the 26.5 percent surge in the S&P 500 this year an opportunity to reduce their positions ahead of an eventual market correction.
The CBOE Volatility Index fell 3.2 percent to close at 12.86.
With volatility low and the price of options cheap, "you can lighten your stock position, but replace it with a derivative. This way, if the market were to tank, you would lose a lot less on the derivative than you would lose on the stock," Matousek said.
The Dow Jones industrial average rose 54.78 points, or 0.34 percent, to end at a record 16,064.77. The Standard & Poor's 500 Index gained 8.91 points, or 0.50 percent, to finish at 1,804.76. The Nasdaq Composite Index climbed 22.50 points, or 0.57 percent, to close at 3,991.65.
Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, said on CNBC that reducing the pace of the central bank's bond-buying program will be on the table at its December policy meeting. He added that monetary policy is likely to be very accommodative for some time.
"In the meantime, USD 85 billion a month keeps swirling into investor hands, and some of that finds its way out into the financial markets, including the stock market," said Fred Dickson, chief market strategist at D.A. Davidson & Co., in Lake Oswego, Oregon.
Intel fell 5.4 percent to USD 23.87 and was the biggest drag on the S&P 500 after analysts questioned whether the chipmaker can get higher-margin chips into tablets and smartphones, which are eroding sales of traditional PCs.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,241.60 a troy ounce, down 0.04%. Gold prices hit an overnight session low of USD1,235.90 a troy ounce and high of USD1,249.50 a troy ounce.
The Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the U.S. last week fell by 21,000 to a seasonally adjusted 323,000, beating expectations for a decline of 9,000.
The data sent gold prices falling a day after the Federal Reserve said in the release of its October policy meeting minutes that it might begin tapering the pace of its monthly bond purchases soon if conditions in the labor market improve.
Separate government data revealed that the U.S. producer price index declined 0.2% in October, in line with expectations, while the country's core PPI rose 0.2%, beating market calls for a 0.1% gain, which markets also viewed as bearish for the yellow metal.
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Stimulus tools such as the Fed's USD85 billion in monthly bond purchases drive down interest rates to spur recovery, boosting stock prices in the process.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.69% at16,099.99, the S&P 500 index rose 0.81%, while the Nasdaq Composite index rose 1.22%.
Data released earlier revealed manufacturing activity in the Philadelphia region expanded at the slowest pace in six months in November.
The Federal Reserve Bank of Philadelphia said that its manufacturing index fell to 6.5 in November from 19.8 in October.
Economists had expected the index to decline to 15.0.
The employment component of the index dropped to 1.1 from a reading of 15.1 last month, and the data fanned market expectations for the Federal Reserve to keep its USD85 billion in monthly asset purchases in place through early 2014.
On the flipside, the Department of Labor said the number of individuals filing for initial jobless benefits in the U.S. last week fell by 21,000 to a seasonally adjusted 323,000, beating expectations for a decline of 9,000.
The data pushed stocks higher by fueling hopes that greener pastures await the U.S. economy that will give stocks room to rise on fundamentals when Fed support tapers and eventually ends.
Separate government data revealed that the U.S. producer price index declined 0.2% in October, in line with expectations, while the country's core PPI rose 0.2%, beating market calls for a 0.1% gain.
Leading Dow Jones Industrial Average performers included Intel, up 2.71%, American Express, up 2.06%, and JPMorgan Chase, up 1.98%.
The Dow Jones Industrial Average's worst performers included Caterpillar, down 0.67%, IBM, down 0.58%, and AT&T, down 0.30%.
European indices, meanwhile, finished largely lower.
After the close of European trade, the EURO STOXX 50 fell 0.01%, France's CAC 40 fell 0.34%, while Germany's DAX 30 fell 0.07%. Meanwhile, in the U.K. the FTSE 100 finished up 0.09%.
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Stimulus tools such as the Fed's USD85 billion in monthly bond purchases drive down interest rates to spur recovery, boosting stock prices in the process, and talk of their dismantling can dampen stock prices by fanning uncertainty as to how equities will perform without a monetary crutch.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.41%, the S&P 500 index fell 0.36%, while the Nasdaq Composite index fell 0.26%.
The economy is on the mend and will soon require less support from the Fed in the form of monthly bond purchases, the Fed minutes found.
"During this general discussion of policy strategy and tactics, participants reviewed issues specific to the Committee's asset purchase program. They generally expected that the data would prove consistent with the Committee's outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months," the minutes read.
The minutes sent share prices falling, while data released earlier also painted a picture of an economy in less need of Fed support.
The U.S. Commerce Department reported that retail sales expanded 0.4% in October, blowing past expectations for a 0.1% gain after coming in flat the month earlier.
Elsewhere, the Commerce Department reported that wholesale business inventories inched up by 0.6% in September compared to expectations for a 0.3% gain.
The National Association of Realtors reported earlier that existing home sales declined 3.2% to a seasonally adjusted 5.12 million units in October from 5.29 million in September.
Analysts had expected U.S. existing home sales to fall 2.6% to 5.13 million units last month, though investors shrugged off the report on sentiments October is not a strong month for housing anyway.
Consumer price inflation figures largely met expectations.
U.S. Department of Labor said the country's consumer price index fell by a seasonally adjusted 0.1% in October, defying expectations for a 0.1% increase after rising by 0.2% in September.
Year-over-year, the U.S. consumer price index rose at an annualized rate of 1.0% last month, in line with estimates and slowing from 1.2% in September.
The core consumer price index, which is stripped of volatile food and energy costs, inched up 0.1% in October, in line with forecasts. Core consumer prices rose 0.1% in September.
The U.S. core CPI increased at annualized rate of 1.7% last month, unchanged from September and in line with expectations.
Still, stocks didn't plummet as investors concluded that any decision to taper asset purchases, most likely in early 2014, won't usher in an era of policy tightening.
Leading Dow Jones Industrial Average performers included Microsoft, up 0.93%, Pfizer, up 0.84%, and UnitedHealth, up 0.53%.
The Dow Jones Industrial Average's worst performers included Boeing, down 3.26%, Caterpillar, down 1.18%, and DuPont, down 1.11%.
European indices, meanwhile, finished largely lower.
After the close of European trade, the EURO STOXX 50 fell 0.06%, France's CAC 40 fell 0.09%, while Germany's DAX 30 rose 0.10%. Meanwhile, in the U.K. the FTSE 100 finished down 0.25%.
On Thursday, the U.S. is release data on producer price inflation, as well as the weekly report on initial jobless claims. The U.S. is also to release data manufacturing activity from the Philly Fed.
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USD/JPY traded at 100.13, up 0.10%, in a range of 100.02 - 100.14 ahead of the policy announcement at 1230 local time (0330 GMT) with the benchmark rate forecast stable at 0.10%. BoJ Governor Haruhiko Kuroda will hold a news conference at 1530 local time (0630 GMT).
The BoJ aims to help Japan reach 2% sustained inflation in 2015 in combination with fiscal efforts.
Reserve Bank of Australia Governor Glenn Stevens will also speak in Sydney on Thursday at 2005 local time (0905 GMT) with the bank closely watched for any signals on its bias to ease the cash rate further from a record low 2.5%.
AUD/USD traded at 0.9326, down 0.09%, in a range of 0.9322 - 0.9336.
Also on the horizon Thursday is the closely watched HSBC November flash purchasing managers index for China, forecast to come out at 50.8, easing from 50.9 for the final in October. The data is due at 0945 local time (0145 GMT).
Overnight, the dollar rose against most major currencies after the Federal Reserve said a decision to taper its monthly asset purchases could come in a few months, while reports the European Central Bank is considering negative interest rates also firmed demand for the greenback.
A decision to taper the pace of assets will come when economic indicators point to an economy that is clearly gaining steam, and although monetary authorities did not suggest when that month may arrive, markets felt it will come soon.
"During this general discussion of policy strategy and tactics, participants reviewed issues specific to the Committee's asset purchase program. They generally expected that the data would prove consistent with the Committee's outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months," the minutes read.
Data released earlier supported the greenback as well.
The U.S. Commerce Department reported that retail sales expanded 0.4% in October, blowing past expectations for a 0.1% gain after coming in flat the month earlier.
Elsewhere, the Commerce Department reported that wholesale business inventories inched up by 0.6% in September compared to expectations for a 0.3% gain.
Weak data out of the housing sector failed to cap the dollar's advance.
The National Association of Realtors reported earlier that existing home sales declined 3.2% to a seasonally adjusted 5.12 million units in October from 5.29 million in September.
Analysts had expected U.S. existing home sales to fall 2.6% to 5.13 million units last month.
Consumer price inflation figures largely met expectations.
U.S. Department of Labor said the country's consumer price index fell by a seasonally adjusted 0.1% in October, defying expectations for a 0.1% increase after rising by 0.2% in September.
Year-over-year, the U.S. consumer price index rose at an annualized rate of 1.0% last month, in line with estimates and slowing from 1.2% in September.
The core consumer price index, which is stripped of volatile food and energy costs, inched up 0.1% in October, in line with forecasts. Core consumer prices rose 0.1% in September.
The U.S. core CPI increased at annualized rate of 1.7% last month, unchanged from September and in line with expectations.
Across the Atlantic, the euro weakened after Bloomberg reported that sources close to the ECB said the bank is to weigh a -0.1% deposit rate if more easing is required.
The ECB surprised investors after it unexpectedly cut rates to a record low 0.25% earlier this month amid concerns over mounting deflationary pressures in the euro area.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was at 81.06, down 0.03%, in early Asian trade.
On Thursday, the U.S. is release data on producer price inflation, as well as the weekly report on initial jobless claims. The U.S. is also to release data manufacturing activity from the Philly Fed.
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At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.07%, the S&P 500 index fell 0.20%, while the Nasdaq Composite index fell 0.44%.
Investors sidestepped equities on sentiments that the minutes of the Fed's October meeting will likely reveal authorities still opt it necessary to hold off on scaling back stimulus tools for now, expectations that have largely been priced into trading.
Stimulus tools such as the Fed's USD85 billion in monthly asset purchases drive down interest rates to spur recovery, boosting stock prices in the process.
Elsewhere, Federal Reserve Chair Ben Bernanke is due to speak in public Tuesday evening, and markets bet that the nation's top economist won't signal the need for a timetable to begin tapering the Fed's USD85 billion in monthly bond purchases.
Last week, Fed Chair Nominee Janet Yellen suggested the economy still needs the U.S. central bank's ultra-loose monetary policies to ensure recovery, and on Monday, the Fed's Bank of New York chief William C. Dudley said he was hopeful that recovery will gain steam soon but made no indication over a need to consider scaling back bond purchases.
Elsewhere, Home Depot released earnings that beat revenue and profit forecasts, though a cautious outlook from Best Buy dampened spirits.
Leading Dow Jones Industrial Average performers included Chevron, up 1.24%, Home Depot, up 0.90%, and JPMorgan, up 0.78%.
The Dow Jones Industrial Average's worst performers included Visa, down 1.23%, Microsoft, down 1.22%, and Pfizer, down 1.06%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 1.02%, France's CAC 40 fell 1.12%, while Germany's DAX 30 fell 0.35%. Meanwhile, in the U.K. the FTSE 100 finished down 0.38%.
On Wednesday, the U.S. is to release data on retail sales, consumer inflation, existing home sales and business inventories.
Markets will keep a close eye on the release of the Federal Reserve minutes of its latest policy meeting.
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USD/JPY traded at 100.18, up 0.04%, in a range of 100.14 - 100.22 ahead of October trade data at 0850 local time (2350 GMT) expected to show a deficit of JPY814 billion.
AUD/USD traded at 0.9428, down 0.06%, in a range of 0.9426 - 0.9434 ahead of Westpac-Melbourne Institute leading index for September at 1030 local time (2330 GMT) which came in at 3.2% the previous month. Also on the calendar are remarks by Reserve Bank of Australia Assistant Governor Guy Debelle at 1130 local time (0030 GMT).
Overnight, the dollar traded lower against most major currencies ahead of the release of the minutes from the Federal Reserve's October policy meeting, which investors doubted would contain hints as to when the U.S. central bank will announce plans to scale back stimulus programs.
Federal Reserve Chair Ben Bernanke is also due to speak in public later Tuesday, and markets took up positions betting that the nation's top economist won't signal the need for a timetable to begin tapering the Fed's USD85 billion in monthly bond purchases, which keep the greenback weak to spur recovery.
Last week, Fed Chair Nominee Janet Yellen suggested the economy still needs the U.S. central bank's ultra-loose monetary policies to ensure recovery, and on Monday, the Fed's Bank of New York chief William C. Dudley said he was hopeful that recovery will gain steam soon but made no indication over a need to consider scaling back bond purchases.
Investors also bet that the minutes of the Fed's October meeting due for release on Wednesday will paint a similar picture for the need to hold off on scaling back stimulus tools for now.
Meanwhile across the Atlantic, European Central Bank board member Joerg Asmussen warned that monetary authorities must be 'very careful' when considering the use of negative interest rates to steer the economy away from low inflation rates, which supported the single currency.
EUR/USD traded at 1.3535, down 0.03%, in early Asian markets.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was at 80.70, down 0.02%, in Asian trade.
On Wednesday, the U.S. is to release data on retail sales, consumer inflation, existing home sales and business inventories.
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In U.S. trading on Monday, EUR/USD was up 0.07% at 1.3506.
Fed Chair Nominee Janet Yellen told the Senate Banking Committee late last week that the U.S. central bank remains committed to purchasing USD85 billion in Treasury holdings and mortgage debt a month to prop up the economy, a monetary policy tool known as quantitative easing that weakens the dollar by driving down interest rates.
The dollar did come off earlier lows, however, after Federal Reserve Bank of New York President William C. Dudley said he was growing more and more hopeful that the U.S. economy is improving and added fiscal uncertainties may no longer be dragging down recovery as in recent months.
"While growth in 2013 has been disappointing, I believe a good case can be made that the pace of growth will pick up some in 2014 and then somewhat more in 2015. The private sector of the economy should continue to heal, while the amount of fiscal drag should subside," Dudley said in prepared remarks of a speech he delivered at Queens College, Flushing, New York.
"Despite near-term concerns, growth prospects among our major trading partners will improve further next year. This combination of events is likely to create an environment in which business investment spending will strengthen."
Still, Dudley gave no real indication as to when bond purchases may taper, which kept the greenback in negative territory.
Elsewhere, National Association of Home Builders/Wells Fargo Housing Market Index came in unchanged in November at 54, missing analysts' calls for an uptick to 55 this month.
Rising stock prices in the U.S. and Europe enticed many investors out of safe-haven dollar positions as well.
Meanwhile in Europe, data released earlier Monday showed that the euro zone's surplus widened to EUR13.1 billion in September from EUR8.6 billion a year earlier. The report said exports rose 3% on a year-over-year basis, while imports were flat.
The greenback was up against the pound, with GBP/USD down 0.15% at 1.6096.
The dollar was down against the yen, with USD/JPY down 0.10% at 100.09, and down against the Swiss franc, with USD/CHF down 0.17% at 0.9132.
The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.06% at 1.0432, AUD/USD up 0.04% at 0.9376 and NZD/USD trading up 0.02% at 0.8338.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.06% at 80.82.
On Tuesday, the U.S. is to release data on the employment cost index, an important inflationary indicator.
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AUD/USD traded at 0.93760, down 01%, in a range of 0.9376 - 0.9378, ahead of the minutes due at 1130 local time (0030 GMT). The minutes could signal that the board is comfortable to wait and see the effect of a record low cash rate of 2.5% work through the economy, or concern that a shift from resources-led investment to housing is not happening quickly enough.
The currency has also received support on better prospects for economic reforms in China for foreign investment following a plan released at the weekend by top leadership. China is a top destination for Australian exports such as iron ore.
NZD/USD is bid slightly lower at 0.8328, down 0.05%, still easing off a 0.8402 high traded overnight.
USD/JPY traded at 99.98, down 0.01%, and trading in a range of 99.96 - 100.01 with the open of the Nikkei awaited for signs of profit taking after more than a week of steady gains.
Overnight, the dollar traded mixed to lower against most major currencies amid ongoing sentiments the Federal Reserve will leave its ultra-loose monetary policies in place into early 2014, though upbeat comments from Bank of New York President William C. Dudley cushioned the greenback's losses.
"While growth in 2013 has been disappointing, I believe a good case can be made that the pace of growth will pick up some in 2014 and then somewhat more in 2015. The private sector of the economy should continue to heal, while the amount of fiscal drag should subside," Dudley said in prepared remarks of a speech he delivered at Queens College, Flushing, New York.
Still, Dudley gave no real indication as to when bond purchases may taper, which kept the greenback in negative territory.
Elsewhere, National Association of Home Builders/Wells Fargo Housing Market Index came in unchanged in November at 54, missing analysts' calls for an uptick to 55 this month.
In Europe, data released Monday showed that the euro zone's surplus widened to EUR13.1 billion in September from EUR8.6 billion a year earlier. The report said exports rose 3% on a year-over-year basis, while imports were flat.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.78, down 0.01%
On Tuesday, the U.S. is to release data on the employment cost index, an important inflation indicator.
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USD/JPY traded at 100.26, up 0.07%, in a range of 100.21 - 100.27, with scant economic data scheduled outside of the lightly followed cash earnings for the month of September.
NZD/USD hit a high of 0.83570 in early trade and is up 0.20%, as investors mull the continued strength of the economy against tame inflation and the scope for a hike in the official cash rate early next year.
The dollar slid to a one-week low against the euro on Friday and edged lower against the yen following the release of unexpectedly weak U.S. manufacturing data, one day after Federal Reserve chairwoman nominee Janet Yellen defended the bank's stimulus program.
EUR/USD traded at 1.3492, down 0.04%, early in Asia.
In the week ahead, investors will be closely watching Wednesday's minutes of the Fed's most recent policy setting meeting. The U.S. is also to release data on retail sales and consumer prices.
The euro zone is to release data on manufacturing and services sector activity and the ZEW Institute is to release its report on German economic sentiment. Meanwhile, China is to produce preliminary data on manufacturing activity.
In Asia on Tuesday, the Reserve Bank of Australia is to publish its monetary policy meeting minutes, which contain valuable insights into economic conditions from the bank's perspective. Australia is also to publish an index of leading economic indicators.
The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, traded at 80.95 on Monday, up 0.10%.
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"Thor," from Walt Disney Co's Marvel Studios, stars Chris Hemsworth as the god of thunder who battles to save his homeland from an enemy force. Tom Hiddleston co-stars as his conniving brother, Loki.
"The Best Man Holiday," a Christmas-themed sequel to 1999 film "The Best Man," earned $30.6 million in its debut from Friday through Sunday. In the new installment, nine stars from the original film, including Taye Diggs, Terrence Howard and Morris Chestnut, come back for a reunion that tests marriages and friendships.
In third place, senior citizen buddy comedy "Last Vegas" rung up $8.9 million. The movie stars Robert De Niro, Morgan Freeman, Michael Douglas and Kevin Kline as four friends who gather for a bachelor party.
Universal Pictures, a unit of Comcast Corp , released "Best Man Holiday." "Last Vegas" was distributed by CBS Films, a unit of CBS Corp . (Reporting by Lisa Richwine and Chris Michaud; Editing by Sandra Maler)
Nov 16, 2013, 04.14 PM IST
Welspun Energy is a part of the Welspun Group. NSE Fin Wiz visited the company to gauge thoughts and notions of young professionals of the organization to understand their approach towards investments and financial planning.
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NSE Fin Wiz at Welspun Energy
Welspun Energy is a part of the Welspun Group. NSE Fin Wiz visited the company to gauge thoughts and notions of young professionals of the organization to understand their approach towards investments and financial planning.
Like this story, share it with millions of investors on M3
NSE Fin Wiz at Welspun Energy
Welspun Energy is a part of the Welspun Group. NSE Fin Wiz visited the company to gauge thoughts and notions of young professionals of the organization to understand their approach towards investments and financial planning.
Welspun Energy is a part of the Welspun Group. NSE Fin Wiz visited the company to gauge thoughts and notions of young professionals of the organization to understand their approach towards investments and financial planning.
Nov 16, 2013, 05.11 PM IST
VMware forum had IT professionals from across the industry discuss and deliberate on transforming the IT infrastructure.
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VMware IT Excellence Awards
VMware forum had IT professionals from across the industry discuss and deliberate on transforming the IT infrastructure.
Like this story, share it with millions of investors on M3
VMware IT Excellence Awards
VMware forum had IT professionals from across the industry discuss and deliberate on transforming the IT infrastructure.
VMware forum had IT professionals from across the industry discuss and deliberate on transforming the IT infrastructure.
