Greener BeeGreen HolidaysSensex back in green, recovers 21 points ahead of IIP data
PTI | Updated: Oct 10, 2016, 05.43 PM IST

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MUMBAI: After a three-session losing spell, market benchmark Sensex on Monday recovered over 21 points in a choppy trade to end at 28,082.34, helped by gains in metal, consumer durables and IT stocks as participants widened their bets ahead of macro economic data.

Optimistic purchases ahead of August IIP data due later in the day and investors’ upbeat sentiment after the second US presidential debate indicated Democrat Hillary Clinton was having an edge over Republican nominee Donald Trump also influenced the domestic market.

However, participants were seen trimming their portfolios at every rise in view of holiday-shortened week as stock exchanges will remain closed tomorrow for “Dussehra” and on Wednesday for “Muharram”.

“Domestic market was in a lacklustre mood ahead of holidays and traded within a narrow range but with a positive bias. Macro data like IIP (later today) and CPI WPI (later this week) will be keenly watched, while the focus would be on Q2 results which start this week,” Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services Ltd, said.

Metal stocks were back in demand on the bourses, tracking a firm trend in base metals in global market.

Among metal stocks, Tata Steel emerged top gainer by climbing 2.71 per cent to Rs 417.40, Vedanta surged 2.36 per cent to Rs 199.40, while Hindalco ended 1.65 per cent higher at Rs 160.65.

The broader NSE Nifty too regained the key 8,700-mark.

Globally, a firm trend was seen at Shanghai market which resumed trading after long holidays last week. Shanghai Composite Index rose 1.45 per cent, while Japan and Hong Kong financial markets were closed today for holidays.

European markets too were trading in positive zone in their afternoon deals and key indices like Germany, UK and France rose by up to 0.24 per cent.

The 30-share Sensex after opening higher at 28,144.28, advanced further to hit a high of 28,216.64. But it slipped partially to settle the session 21.20 points or 0.08 per cent, higher at 28,082.34.

The index had lost 273.41 points in the previous three sessions.

The broader NSE Nifty ended at 8,708.80, up 11.20 points or 0.13 per cent. Intra-day, it touched a high and a low of 8,745.80 and 8,703.95, respectively.

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Article source: http://timesofindia.indiatimes.com/business/india-business/Sensex-back-in-green-recovers-21-points-ahead-of-IIP-data/articleshow/54780767.cms


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