Overall consumer spending in USA dropped 0.3 percent in September compared to the month before, while disposable income -- the money left after taxes -- barely crept ahead of inflation, increasing by 0.1 percent. A drop in spending on big ticket consumer items, particularly automobiles and parts, accounted for much of the decline in overall spending, with a drop of 2.9 percent in September compared to the month before. Consumers shied away from big ticket items in September, as wages remained basically stagnant and households began to tuck more money into savings -- further evidence of a pullback by American households.
Sensex today closed 691.55 point up at 19854.12 , Nifty was up 218 points at 5985.10. It is the 6th bigeest gain in oneday. Today's main contributors are IT stocks. Wipro was up at 535.30 (+8.86%), Infosys up at 1810.90(+6.63%) and Satyam closed at 454.55 up by 6.28%. The buying activity was wide-base and lifted almost all the sectoral indices. Sector wise performance was as follows - BSE IT 4581.61 (+260.98) BSE Healthcare 4294.83(+52.30) BSE FMCG2218.74(+20.29) BANKEX 11101.74 (+363.15) BSE Auto5586.83(+45.57) BSE TECk3961.96 (+185.00) BSE PSU 9830.01 (+317.11) Today BSE Midcap closed at 9211.71 up by 186.17 and BSE Smallcap index closed at 11980.57 up by 167.25 points.
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