Sensex rebounds 172 points; ignores weak IIP, rising inflation

The NSE Nifty rose 52.10 points to 7,562.40.  

Sensex rebounds 172 points; ignores weak IIP, rising inflation

Zee Media Bureau

Tracking gains in global bourses, the benchmark BSE Sensex recovered over 172 points Wednesday on value-buying by investors despite industrial production in November plunging to an over four-year low and consumer inflation shooting up to 5.61 percent in December.

The 30-share barometer, which had lost 252.30 points in the previous two sessions, ended higher by  172.08 points at 24,854.11.

On similar lines, the NSE Nifty rose 52.10 points to 7,562.40.

A higher trend on other global bourses, helped trading sentiment improve.

Stock markets in Europe and Asia rose and oil prices jumped today after Chinese trade data cooled concerns over the world’s second biggest economy, steadying money and currency markets in Shanghai and Hong Kong.

Japan's Nikkei index jumped 2.6 percent and Europe`s main markets gained after China reported exports dipped just 1.4 percent in US dollar terms in December, compared to forecasts of an 8-percent drop.

Meanwhile, Industrial production (IIP) contracted by 3.2 percent in November -- the lowest level in over four years -- due to poor performance of manufacturing sector and a sharp decline in capital goods output.

Rising for the fifth straight month, retail inflation or CPI, quickened to 5.61 percent in December, limiting the headroom for the Reserve Bank to lower rate next month.


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