Sensex gains over 100 points, posts longest winning streak since late November
The BSE Sensex rose for the eighth straight session on Monday, settling higher by 112.78 points, or 0.33%, at 34,305.43.business Updated: Apr 16, 2018 16:58 IST
Benchmark BSE Sensex closed in the positive zone for the eighth straight session on Monday, by climbing 113 points following a slew of positive economic data that revived overall investors’ sentiment despite mixed global cues.
The flagship BSE Sensex during the session swung both ways --nearly 408 points -- on hectic selling and buying activity by participants.
According to government data, inflation based on wholesale prices eased marginally to 2.47% in March on cheaper food articles, especially pulses and vegetables. Wholesale inflation was 2.48% in February and 5.11% in March last year.
Besides, reflecting further improvement in the economic situation, industrial production grew by a healthy 7.1% in February while the key retail inflation slipped to a five-month low of 4.28% in March, official data showed on Thursday.
Although, investors appeared slightly cautious amid mixed cues from global markets after a US-led strike on Syrian targets in response to alleged chemical weapons attacks, fuelling fresh geopolitical tensions.
The broader NSE Nifty too struggled before ending well above the 10,500-mark.
The 30-share barometer, which cracked the 34,000-mark at the outset, hit a low of 33,899.34 on profit-booking in recent gainers amid sustained outflows by foreign funds.
However, towards the middle of the session, revival of buying, spread over a broad front, helped wiping out initial losses and touched the day’s high of 34,341.46 before settling higher by 112.78 points, or 0.33%, at 34,305.43.
The index had risen 1,173.88 points in the past seven sessions.
The 50-share NSE Nifty too moved in a wide range on hectic selling and buying and finally closed 47.75 points, or 0.46%, higher at 10,528.35. Intra-day, it hovered between 10,396.35 and 10,540.15