Sensex up over 50 points in early trade ahead of IIP data

Sensex up over 50 points in early trade ahead of IIP data The BSE benchmark Sensex Tuesday recovered by over 50 points in early trade, snapping its eight-session losing streak, on fresh buying by funds and retailers ahead of industrial output data, amid a firming trend in other Asian bourses.

The 30-share barometer rose by 50.20 points, or 0.26 percent, to 19,510.77. It had lost nearly 545 points in the past eight sessions.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 9.65 points, or 0.16 percent, to 5,907.50.

Brokers said expectations of better index of industrial production (IIP) data for December to be released later Tuesday and a firming trend on the Asian markets, mainly triggered buying by funds and retail investors.

In the Asian region, Japan's Nikkei was up by 2.42 percent in early trade. The US Dow Jones Industrial Average ended 0.16 percent lower yesterday.

PTI