Sensex rebounds 125 pts in early trade ahead of macro data
Mumbai : Market benchmark BSE Sensex recovered over 125 points in early trade today on buying by domestic investors and foreign funds ahead of IIP and inflation data to be released later in the day, even as the markets sank overseas.
The 30-share index was 125.60 points or 0.49 per cent higher at 25,722.62 with all sectoral indices led by realty, infrastructure, banking and capital goods trading in the positive zone.
The gauge had lost 175.51 points in yesterday’s trade. National Stock Exchange’s Nifty too rose by 34.75 points or 0.44 per cent to 7,883.60.
Dealers said building up of positions by participants ahead of key economic data – industrial production (IIP) for March and consumer price index (CPI) for April – to be released after market closing today, influenced the sentiment.
However, weakness at other Asian markets, which saw more losses following overnight sell-off in New York on weak earnings, restricted the upmove here.
While Japan’s Nikkei was down 0.41 per cent, Hong Kong’s Hang Seng shed 0.48 per in early trade today. China’s main Shanghai Composite Index was also down by 0.61 per cent.
The US Dow Jones Industrial Average ended 1.21 per cent lower in yesterday’s trade.