Sensex takes comfort from positive inflation figures, rebounds 166 pts to 30,354

The Sensex bounced nearly 166 points to 30,354 in early part on Monday, taking comfort from positive inflation numbers, with the hope that earnings momentum by blue-chips will keep up foreign capital inflows. A mixed trend prevailed in the rest of Asia.

The 30-share barometer jumped 165.90 points or 0.55%, to 30,354.05. Sectoral indices, led by metal, realty, banking, FMCG, capital goods and PSU, rose by up to 1.02%.

The gauge had retreated from record highs by falling 62.83 points in the previous session on Friday. The NSE index Nifty recovered by 38.90 points, or 0.41%, to 9,439.80. Buying activity paced up on positive economic data after retail inflation fell sharply to 2.99% in April, from 3.89% in March, while inflation based on the wholesale price index slipped to a four-month low of 3.85% in April.

Industrial output growth, however, weakened to 2.7% in March, showed the IIP data based on the revised base year of 2011-12.

Hong Kong's Hang Seng and China's Shanghai Composite inched up. Japan's Nikkei, however, logged losses. The US Dow Jones Industrial Average had closed 0.11% lower on Friday.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)