Sensex gains 57 pts in early trade despite rising inflation

The benchmark BSE Sensex gained over

57 points in early trade today on buying by domestic

institutional investors even as retail inflation rose to a

five-month high.

Positive trends at other Asian markets also influenced

trading sentiments here.

The 30-share barometer, which had gained 496.69 points in

the previous four straight sessions, was trading higher by

57.08 points, or 0.17 per cent, at 32,215.74, with power,

consumer durables, oil & gas, IT and PSU stocks leading the

gains.

The NSE Nifty was up by 8.25 points, or 0.08 per cent, at

10,101.30 points.

Prominent gainers were Reliance Industries, TCS, Dr

Reddy's, Adani Ports, Sun Pharma, M&M, Tata Motors, Hero

MotoCorp, Coal India, ICICI Bank, SBI, Bajaj Auto,ONGC and

Maruti Suzuki, rising by up to 2.21 per cent.

Brokers said sentiment remained upbeat despite retail

inflation rising in August to a five-month high of 3.36 per

cent.

Industrial production grew by 1.2 per cent in July

against 4.5 per cent a year ago on account of manufacturing

poor show, according to official data.

Brokers said Asian markets were firm after Wall Street

stocks jumped to fresh records yesterday on easing

geopolitical worries and US hurricanes.

Hong Kong's Hang Seng was up 12.03 points, Shanghai's

Composite index rose 0.03 per cent, while Japan's Nikkei

gained 0.47 per cent in their early trade.

The US Dow Jones Industrial Average ended 0.28 per cent

higher yesterday.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)