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,

brokers said.

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

cent.

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.)