Thursday, May 9, 2013

Sensex moves northwards ahead of IIP data


The BSE benchmark Sensex on Friday gained almost 28 points in early trade on fresh buying by funds and retailers ahead of industrial output data, amid a firming trend on other Asian bourses.

The 30-share barometer up by 27.97 points, or 0.14 percent, to 19,967.01, led consumer durables, auto and realty sector stocks. The index had lost 51.14 points yesterday on profit-booking.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 6.00 points, or 0.10 percent, to 6,056.15.

Brokers said expectations of better industrial production (IIP) data for March to be released later today and a firming trend on the Asian markets, mainly triggered selective buying by funds and retail investors.

In the Asian region, Japan\'s Nikkei was sharply up by 2.75 percent, while Hong Kong\'s Hang Seng rose by 0.26 percent in early trade. The US Dow Jones Industrial Average ended 0.15 percent lower yesterday.

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