IIP, retail inflation data boost investor sentiment
The benchmark BSE Sensex was trading higher by over 170 points as industrial output strengthened in August 2017 to record robust 4.3 per cent growth. Also, the Consumer Price Index (CPI) inflation for September 2017 came in at 3.28 per cent, the same level as previous month.
Domestic sentiment was also buoyed by firm Asian cues.
At 10.10 a.m., the 30-share BSE index Sensex was up 170.77 points or 0.53 at 32,352.99 and the 50-share NSE index Nifty was up 51.25 points or 0.51 at 10,147.65.
All BSE sectoral indices were trading higher. Among them, TECk index was up 0.93 per cent, followed by metal 0.7 per cent, banking 0.68 per cent and auto 0.34 per cent.
Top five Sensex gainers were Bharti Airtel (+6.62%), Tata Steel (+1.4%), ICICI Bank (+1.07%), HDFC Bank (+1.02%) and Tata Motors (+0.65%), while the major losers were ONGC (-0.5%), Adani Ports (-0.37%), Dr Reddy's (-0.26%), Kotak Bank (-0.23%) and TCS (-0.22%).
Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of US and Chinese economic data as well as the Chinese Communist Party congress next week.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent, having gained 3.4 per cent so far this month. Japan’s Nikkei was little changed.