All for Joomla All for Webmasters
April 24, 2018
You can use WP menu builder to build menus

Sensex rises over 100 points on positive macro dataAccording to brokers, fall in retail inflation to a five-month low, too had a positive impact on the market.

The benchmark Sensex gained over 100 points in early trade , continuing its rising streak for the seventh straight session on the back of positive macroeconomic data, ahead of Infosys earnings later in the day.

The 30-share barometer was trading higher by 134.96 points, or 0.39 %, at 34,236.09 with all the sectoral indices, led by metals, banking and realty stocks rising by up to 1 %.

The gauge had gained 1,082.06 points in the previous six days.

The NSE Nifty too climbed 39.20 points, or 0.37 %, to 10,497.85.

Brokers said buying activity picked up on positive macroeconomic data as industrial production grew by a healthy 7.1 % in February.

The uptick in industrial production was largely driven by robust performance of the manufacturing sector, coupled with higher offtake of capital goods and consumer durables.

Retail inflation based on the Consumer Price Index (CPI) moderated in March due to easing food prices, including vegetables.

Both sets of data were released by the Central Statistics Office (CSO) yesterday.

According to brokers, fall in retail inflation to a five-month low, too had a positive impact on the market.

Major gainers were Adani Ports, Bharti Airtel, Kotak Bank, Axis Bank, ICICI Bank, Asian Paints, Bajaj Auto, Tata Steel, Dr Reddy’s, RIL, M&M, NTPC and Maruti Suzuki, rising up to 2.04 %.

IT major Infosys will announce its Q4 results today, shares was trading higher by 0.25 % at ₹1,165.20.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 368.90 crore, while domestic institutional investors (DIIs) sold shares worth a net Rs 615.81 crore yesterday, provisional data showed.

Overseas, Asian shares were trading mixed after US market gained as geopolitical concerns appeared to fade after President Donald Trump tweeted that a military strike on Syria may not be imminent.

Among other Asian markets, Japan’s Nikkei rose 0.51 %, while Hong Kong’s Hang Seng was down 0.28 % in early trade. China’s Shanghai Composite index fell 0.30 %.

The US Dow Jones Industrial Average, however, closed 0.32 % lower in yesterday’s trade.