Mumbai stocks rises over 150 pts on easing inflation
MUMBAI, Feb 13: The benchmark Sensex gained over 150 points in early trade Wednesday, snapping its four-session losing streak, on the back of positive macroeconomic data and better-than-expected earnings bysome bluechip companies, amid positive global cues.
The 30-share barometer was trading higher by 169.36 points, or 0.47 per cent, at 36,322.97. The gauge had lost over 720 points in the previous four days.
The NSE Nifty too climbed 29.20 points, to 10,860.60.
Barring teck, all the sectoral indices, led by realty, FMCG, power and bankex, gained up to 1.50 per cent.
Brokers said buying activity emerged on positive macroeconomic data as retail inflation fell to a 19-month low of 2.05 per cent in January over the previous month on continued decline in food prices.
Meanwhile, industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector.
Both sets of data were released by the Central Statistics Office (CSO) Tuesday after market hours. -PTI