Thursday, May 9, 2013

Sensex up 28 points ahead of IIP data

MUMBAI, May 10, 2013

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 per cent, to 19,967.01, led by consumer durables, auto and realty sector stocks. The index had lost 51.14 points on Thursday on profit-booking.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 6.00 points, or 0.10 per cent, 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 per cent, while Hong Kong's Hang Seng rose by 0.26 per cent in early trade. The U.S. Dow Jones Industrial Average ended 0.15 per cent lower on Thursday.

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