Sensex up 204 points ahead of IIP, inflation data
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The benchmark BSE Sensex recovered over 204 points in early trade on Friday on buying in select blue-chip stocks ahead of IIP and inflation data to be released later in the day amid mixed global cues.
The 30-share index rose by 204.65 points or 0.80% at 25,826.82 in early trade. All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25%.
The gauge had lost 97.41 points in Thursday's volatile session.
The National Stock Exchange index Nifty scaled the 7,800-mark by surging 66.20 points, or 0.85%, to 7,854.30.
Stock brokers said fresh positions created by participants ahead of key economic data -- industrial production (IIP) numbers for July and consumer price inflation (CPI) for August-- to be released later in the day, contributed to the rise.
Moreover, a mixed trend at other Asian bourses and overnight gains on the US markets, positively impacted sentiments, they added.
Among Asian markets, China's main Shanghai Composite Index fell 0.09%, Hong Kong's Hang Seng up 0.68% while Japan's Nikkei shed 0.05% in morning trade today.
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The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
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