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Sensex rebounds 155 points, Nifty hits 8,700 ahead of IIP data

BSE benchmark Sensex on Monday recovered over 155 points and the NSE Nifty topped the 8,700-level amid sustained foreign fund inflows and optimism among domestic investors ahead of IIP data to be released later in the day. The 30-share index, which had lost 273.41 points in the previous three sessions, recovered 155.50 points or 0.55 per cent, to trade at 28,216.64, with all sectoral indices led by metal, PSU, FMCG and auto trading in the green. Similarly, the NSE Nifty rose 37.40 points, or 0.43 per cent, to 8,735. Brokers said widening up of bets by participants ahead of key economic data — August Industrial Production (IIP) — to be released after market hours today fuelled the upmove. Monthly inflation data based on consumer price index (CPI) for September is due on Thursday and wholesale price index (WPI) on Friday. In the Asian region, Japanese and Hong Kong and Taiwanese financial markets are closed today for holidays. Shanghai, after a long public holidays, was up 1.55 per cent in early trade on Monday. The U.S. Dow Jones Industrial Average ended 0.15 per cent lower in Friday’s trade.

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