Sensex rises over 50 points; Nifty above 10800-mark

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The benchmark BSE Sensex rose over 50 points in early trade on Monday despite disappointing macroeconomic data.

The 30-share index gained 53.21 points (0.14 percent) at 35589 with healthcare, oil and gas, realty, banking and capital goods stocks leading the gains. Earlier the gauge had gained 289.52 points in the previous session.

The broader 50 shares NSE Nifty too rose 15.55 points (0.14 percent) to 10822.05.

Industrial output growth fell to a five-month low of 4.4 percent in March due to a decline in capital goods production and deceleration in mining activity and power generation, according to official data released after market hours on Friday.

Inflation data will be later released today.

Brokers said A firm trend at other Asian markets following positive leads from Wall Street and unabated buying by Domestic Institutional Investors supported the gains.

Meanwhile, on a net basis, DIIs bought shares worth Rs 325.44 crore while Foreign Portfolio Investors (FPIs) sold shares to the tune of Rs 1163.65 crore on Friday, a provisional data showed.

The rupee too strengthened by 12 paise to 67.21 against the dollar in early trade on fresh selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. The rupee had settled almost flat at 67.33 against the US currency in highly volatile trade amid weak dollar cues on Friday.

Major gainers were Dr. Reddy’s, Sun Pharma, Axis Bank, HDFC Bank, IndusInd Bank, Wipro, Hero MotoCorp, Tata Steel, ITC Ltd., SBI, and HUL, rising up to 1.83 percent.

In other Asian markets, Hong Kong’s Hang Seng gained 1.29 percent while Japan’s Nikkei rose 0.24 percent in early trade. China’s Shanghai Composite Index was 0.55 percent high.

The US Dow Jones Industrial Average ended 0.37 percent high while in Friday’s trade.

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