Sensex gains over 100 points, posts longest winning streak since late November

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