Ahead of IIP data Sensex up 155 pts on Asian cues
Mumbai: Snapping its three day losing streak, the benchmark BSE Sensex recovered over 155 points in early trade today as participants bought select blue-chip stocks ahead of IIP data to be released later in the day.
Besides, firming trend in China stocks and other Asian markets, buoyed trading sentiments.
The 30-share index was trading higher by 155.47 points or 0.56 per cent at 27,729.13 as all sectoral indices, led by metal, consumer durable and healthcare stocks with gains of up to 1.05 per cent.
The gauge lost 635.10 points in the previous three days.
The National Stock Exchange index Nifty moved up by 28.45 points or 0.34 per cent to 8,357.00.
Stock brokers said fresh positions created by participants ahead of key economic data — industrial production (IIP) numbers for May — to be released later in the day, contributed to the rise.
Moreover, a firming trend at other Asian markets after Greece submitted new debt reform plans and Chinese rout eased as Shanghai stocks surged again on government measures to boost the market, positively impacted sentiments, they added.
Stocks of country’s largest software services firm Tata Consultancy Services fell 0.17 per cent to Rs 2,517 after company yesterday reported a meagre 2.1 per cent growth in its June quarter net profit.
Among Asian markets, China’s main Shanghai Composite Index jumped 5.12 per cent, Hong Kong’s Hang Seng up 0.72 per cent, while Japan’s Nikkei gained 0.41 per cent in morning trade today.
The US Dow Jones Industrial Average ended 0.19 per cent higher in yesterday’s trade.