Sensex jumps 191 points, ignores weak IIP data
The BSE Sensex recovered about 191
points in opening trade today, breaking its five-session
losing streak, on value-buying by investors despite industrial
production entered the negative territory in June.
Short-covering in recently beaten down stocks by
speculators and a mixed trend on other Asian bourses, tracking
weekend gains in the US markets, influenced trading sentiment,
The 30-share barometer, which had lost 1,111.82 points in
the previous five straight sessions, was trading higher by
190.65 points, or 0.61 per cent, to 31,404.24, with all the
sectoral indices led by realty, metal and infrastructure
trading in green.
On similar lines, the NSE Nifty rose 62.20 points, or
0.64 per cent, to 9,773.
Meanwhile, Industrial production (IIP) entered the
negative territory in June, contracting by 0.1 per cent mainly
due to decline in manufacturing and capital goods sectors.
Besides, segments like mining, power generation,
infrastructure/construction goods and consumer durables
recorded poor performance.
The big gainers that supported the recovery in the key
indices were Adani Ports, Cipla, Tata Steel, Hero MotoCorp,
Reliance Industries, M&M, Maruti Suzuki, Coal India, Power
Grid, Tata Motors, ICICI Bank, Axis Bank and NTPC, rising up
to 4.17 per cent.
Among other Asian markets, Hong Kong's Hang Seng was
up 1.10 per cent, while Japan's Nikkei shed 0.84 per cent in
early trade. China's Shanghai Composite Index was up 0.41 per
The US Dow Jones Industrial Average ended 0.07 per cent
higher in Friday's trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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