TIL Desk/Business/Mumbai/ The benchmark BSE Sensex was trading over 100 points higher as positive sentiment kicked in on better-than-expected macroeconomic data released after market hours yesterday.
The country’s Industrial activity expanded 7.5 per cent in January, up from 7.1 per cent in December. While, the consumer price index (CPI) inflation, fell to four-month low of 4.4 per cent in February.
The gains, however, were capped as other Asian markets remained cautious on weak global cues. Buying was led by telecom, finance, banking, oil & gas, realty, consumer durables, healthcare, energy, industrials and capital goods sectors. Meanwhile, IT, Teck and metal counters saw profit-booking.
The 30-share index was trading at 34,032.13 at 1100 hrs, showing a gain of 114.19 hrs, or 0.34 per cent. The broader Nifty-50 index was also trading higher at 10,461,45, up 40.05 points or 0.38 per cent. Major gainers were SBI, Wipro, Axis Bank, Sun Pharma and HDFC.
Most Asian stocks were trading lower ahead of US reading on inflation due today which is likely to give some idea about whether the US Federal Reserve will accelerate its pace of rate increases.
