Sensex gains 58 points on value-buying

The benchmark BSE Sensex staged a modest recovery by rising over 58 points in early trade today as shares of Coal India, Wipro, TCS and Bajaj Auto led the gains on value-buying by participants after recent losses.
However, caution prevailed ahead of a host of macroeconomic numbers such as IIP and inflation data, to be released this week.
The 30-share index, which had lost 1,080.50 points in the past four straight sessions, recovered 58.57 points, or 0.21 per cent, to 26,827.06.
Also, the NSE index Nifty edged higher by 16.30 points, or 0.20 per cent, to 8,131.00.
Brokers said emergence of buying at prevailing levels in beaten-down blue-chips helped trading sentiment improve.

They said a mixed trend at other Asian markets also influenced sentiment.
Among other Asian markets, Hong Kong's Hang Seng was up marginally by 0.20 per cent while Japan's Nikkei shed 0.21 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.31 per cent lower in Friday's trade.