Sensex climbs 211 points on positive economic data points

Mumbai, October 13

Driven by strong IIP numbers and an unchanged inflation, the Sensex on Friday rallied over 211 points to 32,393, reflecting interrupted buying by domestic institutional investors.

The rupee appreciating 19 paise to 64.89 against the dollar on Friday gave a leg to the rally.

The rest of Asia logged a mixed trend.

The 30-share barometer pushed higher by 211.04 points, or 0.66 per cent, to 32,393.26. The gauge had leapt 348 points in the previous session.

Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.9 per cent.

The NSE index Nifty was trading up by 43.25 points, or 0.42 per cent, at 10,139.65.

Buying activity picked up momentum on positive economic data after industrial production grew to a nine-month high of 4.3 per cent in August while retail inflation came in at 3.28 per cent in September, unchanged from August.

Stocks of Bharti Airtel zoomed 6.94 per cent to Rs 427.80 after the company announced that the consumer mobile business of (CMB) of Tata Teleservices Limited and Tata Teleservices Maharashtra would merge with it in a cash-free, debt-free deal.

Stock of TCS, India’s largest software services, rose 1.08 per cent to Rs 2,576.15 even as the company’s net profit fell 2.1 per cent in the September quarter.

Reliance Industries shot up by 1.15 per cent to Rs 882.50 as participants raised their bets ahead of earnings, to be released later in the day.

Japan’s Nikkei rose 0.23 per cent while Shanghai Composite rose up 0.09 per cent in their early deals. Hong Kong’s Hang Seng, however, was down 0.16 per cent.

The US Dow Jones Industrial Average had closed 0.14 per cent lower on Thursday. PTI