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Indian stock market daily closing report (September 12, 2012)

Contributed by Nirmal Bang

Indian markets ended up 0.80% today tracking positive global cues. The Sensex surpassed 18,000 points for the first time today, since March 14. Germany's Constitutional Court has given the green l ight for Germany's president to sign the European Stability Mechanism. That takes away the danger of the bailout fund in Europe being blocked. On dome stic front too sentiments were improved after the aviation minister expressed hopes that the government would allow foreign direct investment into the sector.

According to the government data the IIP for the month of July increased by 0.1% YoY as compared to the street expectation of 0.5%.The cumulative growth for the period April-July 2012-13 over the corresponding period of the previous year stood at -0.1%.

The breadth of the market was positive in today's trade.