Tuesday , December 6 2016
Home / Business / Financials / Sensex surges over 100 points on positive IIP data

Sensex surges over 100 points on positive IIP data

Sensex3_6

Market benchmark BSE Sensex advanced about 121 points to 27,928.76 in early trade on Wednesday, on the back of positive macroeconomic data.

Besides, a firming trend in other Asian markets, tracking another record closing on the US markets in Tuesday’s trade, buoyed sentiment.

The 30-share barometer spurted 120.62 points or 0.43% to 27,928.76 with all the sectoral indices, led by metal, oil & gas, PSU and power, rising up to 1.51%.

The gauge had gained 681.24 points in the previous two days.

The NSE index Nifty climbed 29.20 points or 0.34% to 8,550.25.

Brokers said buying activity picked up on positive economic data as industrial production expanded at 1.2% in May after a revised reading of -1.3% in April, mainly due to uptick in consumer durables output.

However, retail inflation inching up to a 22-month high level of 5.77% in June restricted the gains, they said.

Among other Asian markets, Japan’s Nikkei rose 1% while Hong Kong’s Hang Seng was up 0.47% in early trade. China’s Shanghai Composite index rose 0.29%.

The US Dow Jones Industrial Average had gained 0.66 per cent to close at record high in Tuesday’s trade.
PTI

Read Also

donald-trump-pence

Donald Trump’s deal-making skill to resolve Kashmir issue: Pence

8