Sensex rises over 100 pts on positive macro data

Sensex rises over 100 pts on positive macro data

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The benchmark Sensex gained over 100 points in early trade today, continuing its rising streak for the seventh straight session on the back of positive macroeconomic data, ahead of Infosys earnings later in the day. The 30-share barometer was trading higher by 134.96 points, or 0.39 per cent, at 34,236.09 with all the sectoral indices, led by metals, banking and realty stocks rising by up to 1 per cent.

The gauge had gained 1,082.06 points in the previous six days. The NSE Nifty too climbed 39.20 points, or 0.37 per cent, to 10,497.85. Brokers said buying activity picked up on positive macroeconomic data as industrial production grew by a healthy 7.1 per cent in February. The uptick in industrial production was largely driven by robust performance of the manufacturing sector, coupled with higher offtake of capital goods and consumer durables.

Retail inflation based on the Consumer Price Index (CPI) moderated in March due to easing food prices, including vegetables. Both sets of data were released by the Central Statistics Office (CSO) yesterday. According to brokers, fall in retail inflation to a five-month low, too had a positive impact on the market. Major gainers were Adani Ports, Bharti Airtel, Kotak Bank, Axis Bank, ICICI Bank, Asian Paints, Bajaj Auto, Tata Steel, Dr Reddys, RIL, M&M, NTPC and Maruti Suzuki, rising up to 2.04 per cent.

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