Sensex up 220 points ahead of IIP, inflation data

MUMBAI: The benchmark BSE Sensex jumped over 220 points in early trade on Thursday and the NSE Nifty regained the 8,700-mark as participants bought select bluechip stocks ahead of IIP and retail inflation data to be released later in the day.

The 30-share index was trading higher by 220.85 points, or 0.77 per cent, at 28,880.02 as all sectoral indices, led by power, capital goods and banking, were trading in positive zone with gains up to 1.54 per cent.

The gauge had lost 790 points in the previous three sessions.

On similar lines, the National Stock Exchange index Nifty regained the 8,700-mark by recovering 66.55 points, or 0.76 per cent, at 8,766.50.

Brokers said fresh positions created by participants ahead of key economic data — industrial production (IIP) numbers for January and consumer price index (CPI) data for February — to be released later in the day, contributed to the rise.

Among other Asian markets, Hong Kong’s Hang Seng was up by 0.27 per cent, while Japan’s Nikkei gained 1.33 per cent in early trade on Thursday.

However, the US Dow Jones Industrial Average ended 0.16 per cent lower in Wednesday’s trade.

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