Sensex Recovers Partially, Moves up 102 Points on Inflation Cheer
Stocks got back into shape on Tuesday as the Sensex recovered 102 points to 31,198 in early session --chiefly buoyed by a cooling inflation -- amid mixed Asian cues.
File photo of the Bombay Stock Exchange.
Mumbai: Stocks got back into shape on Tuesday as the Sensex recovered 102 points to 31,198 in early session --chiefly buoyed by a cooling inflation -- amid mixed Asian cues.
Buying picked up on positive economic data after retail inflation fell to a record low of 2.18 per cent in May, from 2.99 per cent in April.
The 30-share barometer rebounded by 101.82 points, or 0.32 per cent, to 31,197.52. The gauge had lost 166.36 points in the previous session.
Sectoral indices such as healthcare, realty, capital goods, power and consumer durables looked good.
Sun Pharma, Lupin, GAIL, L&T, Axis Bank and Bajaj Auto, among others supported the upmove, which rose by up to 2.34 per cent.
The NSE index Nifty bounced 30.10 points, or 0.31 per cent, at 9,646.50.
Industrial production, however, grew at a slower rate of 3.1 per cent in April due to poor show by manufacturing, mining and power, coupled with a lower offtake of capital goods and consumer durables.
Hong Kong's Hang Seng rose 0.37 per cent and China's Shanghai Composite 0.12 per cent in early trade. Japan's Nikkei, however, shed 0.11 per cent.
The US Dow Jones Industrial Average had ended 0.17 per cent lower on Monday.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
Recommended For You
- Prabhas and Raveena Tandon Dance on 'Tip Tip Barsa Pani' on Nach Baliye 9
- Sophie Turner Dances Arm in Arm with Priyanka Chopra's Mother at Jonas Brothers Concert
- PV Sindhu Overcomes Tai Tzu Ying to Reach World Badminton Championships Semi-finals
- RCB Rope in Hesson & Katich for IPL 2020, Sack Kirsten and Nehra
- Jio Effect: Tata Sky Broadband Offers 6 Months Additional Usage on Annual Plans