Markets open: Sensex trades high, takes retail inflation in stride

The Sensex tested the 33,000 level in opening trade today after some value-buying in select stocks despite retail inflation rising to 7-month high in October.

The 30-scrip Sensitive Index (Sensex), was trading at 45.08 points or 0.14 per cent higher, soon after opening.

The rupee's modest recovery against the dollar and a mixed global trend were the other deciders.

Retail or CPI inflation rose to 7-month high of 3.58 per cent in October, driven up by costlier food items, particularly vegetables.

The rupee was trading higher by 13 paise to 65.29 against the American currency at the forex market today.

The 30-share barometer bounced by 81.98 points, or 0.25 per cent, to 33,115.54. Auto, power, consumer durables, FMCG and realty jumped by up to 0.52 per cent. The gauge had lost 281 points in the previous session. The NSE index Nifty too was trading higher by 21.70 points, or 0.21 per cent, at 10,246.65.

The big gainers included NTPC, Reliance Industries, M&M, Kotak Bank, Maruti Suzuki and Lupin, adding up to 1.61 per cent.

Japan's Nikkei rose 0.27 per cent and Hong Kong's Hang Seng 0.19 per cent in early trade. China's Shanghai Composite, however, shed 0.38 per cent.

The US Dow Jones Industrial Average had closed 0.07 per cent higher yesterday.