Sensex rises 151 points ahead of IIP
Mumbai: Rising for the third straight session, the benchmark BSE Sensex gained over 151 points in early trade on Thursday as participants engaged in enlarging positions ahead of IIP and retail inflation data to be released later in the day. Besides, expectations of faster economic reforms by the government and optimism over the forthcoming Budget, buoyed trading sentiments.
The 30-share index was trading higher by 151.91 points, or 0.53 percent, at 28,685.88 with stocks of auto, consumer durables, power, realty and capital goods sectors, leading the rise. The gauge had gained 306.58 points in the previous two sessions.
On similar lines, the National Stock Exchange index Nifty rose by 36.30 points, or 0.42 percent, at 8,663.70. Brokers said fresh positions created by participants ahead of key economic data - industrial production (IIP) numbers for December and retail inflation for January - to be released later in the day, contributed to the rise.
Further, a better trend at other Asian markets influenced trading sentiments here, they said. Among other Asian markets, Hong Kong's Hang Seng was up by 0.26 percent, while Japan's Nikkei gained 1.64 percent in early trade today. However, the US Dow Jones Industrial Average ended 0.04 percent lower in yesterday's trade.