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Sensex up 32 pts in morning deals on better IIP, CPI data

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Press Trust of India Mumbai
The better-than-expected July 2013 industrial production data and fall in retail inflation led the benchmark S&P BSE Sensex to recover by 32 points to quote at 19,813.95 points in late morning deals today, despite weak trends in other Asian markets.

The 30-share index resumed lower following weak Asian cues but rebounded while quoting at 19,813.95 points (1015 hrs).

It showed a rise of 32.07 points or 0.16 per cent. Yesterday, it had plunged 215.57 points or 1.08 per cent.

The 50-share CNX Nifty also rose 8.05 points, or 0.14 per cent, to trade at 5,858.75 (1015 hrs).

After contracting for two straight months, the factory output measured in terms of the Index of Industrial Production (IIP) entered the positive zone in July, recording a growth of 2.6 per cent on account of improved performance of manufacturing and power sectors.
 

Meanwhile, IIP for June was revised upwards to a decline of 1.78 per cent from a provisional 2.2 per cent dip in production.

Retail inflation measured on the Consumer Price Index (CPI) eased to 9.52 per cent in August from 9.64 per cent in July following softening in prices of almost all commodities, except vegetables.

Capital goods, pharma, power and PSU shares were the gainers while IT and banking shares suffered losses.

Asian shares showed weak trend due to overnight fall on Wall Street, as investors fretted stronger-than-expected US jobless-claim data on Thursday which increased the odds that the Federal Reserve would begin trimming its monetary stimulus at next week's meeting.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 930.54 crore yesterday, as per provisional data with stock exchanges.

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First Published: Sep 13 2013 | 11:30 AM IST

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