Sensex up 71 points in opening trade on positive economic data

Mumbai, Jul 14: The benchmark BSE Sensex recovered over 71 points in opening trade today on the back of fresh buying by funds after industrial production grew to 19-month high of 4.7 per cent in May amid positive cues from other Asian markets.

The 30-share barometer rose by 71.41 points, or 0.28 per cent, to 25,095.76 with stocks of auto, FMCG, oil & gas sectors, leading the gains. The index had lost over 1,075 points in the previous four sessions. Similarly, the National Stock Exchange index Nifty moved up by 12.05 points, or 0.16 per cent, to 7,471.65.

Brokers said buying activity emerged largely on positive economic data as industrial production grew to 19-month high of 4.7 per cent in May. Besides, a firming trend at other Asian bourses as traders awaited a flurry of key economic data this week, including Chinese growth figures, influenced the sentiments here.

Among other Asian markets, Hong Kong’s Hang Seng index rose by 0.48 per cent, while Japan’s Nikkei was up by 0.38 per cent in early trade. The US Dow Jones Industrial Average ended 0.17 per cent higher in Friday’s trade.