Sensex up 67 points in early trade ahead of inflation data

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Sensex gained nearly 67 points in early trade on selective buying by funds ahead of inflation data.  (Reuters) Sensex gained nearly 67 points in early trade on selective buying by funds ahead of inflation data. (Reuters)
SummarySensex gained nearly 67 points in early trade on selective buying by funds ahead of inflation data.

The BSE benchmark Sensex today gained nearly 67 points in early trade on selective buying by funds ahead of inflation data, amid a firming Asian trend.

The 30-share barometer rose by 66.70 points, or 0.34 per cent, to 19,730.34 led by IT, technology and consumer durables sector stocks. The index had ended almost flat at 19,663.64 points on Friday.

The wide-based National Stock Exchange index Nifty moved up by 14.65 points, or 0.25 per cent per cent, to 5,965.95.

Brokers said increased buying by participants ahead of inflation data for December to be released later today and third quarter earning results from top bluechip companies such as TCS, influenced trading sentiments.

Stocks of second largest software exporter Infosys continued its upward march, after the company announced Q3 earnings on Friday, and gained 2.48 per cent to Rs 2,780, while TCS was up 1.45 per cent at Rs 1,325.25.

In the Asian region, Hong Kong's Hang Seng rose by 0.16 per cent. The stock market in Japan is closed today.

Stocks More on TCS

Company INFO More on Infosys

Stocks to watch-Jan 14

(Reuters):

Indian inflation likely reversed direction and edged up in December on higher food costs, a Reuters poll showed, but economists said declines in previous months will still give the central bank room to cut interest rates in support of growth.

GLOBAL MARKETS ROUND UP

Nifty futures on the Singapore Exchange rose 0.4 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.14 percent.

The yen plumbed a 2-1/2 year low against the dollar on Monday as Japan's central bank faced relentless political pressure to deliver bold stimulus, while Asian stocks were subdued with Tokyo closed for a public holiday.

U.S. stocks ended little changed on Friday as investors took a step back from buying ahead of next week's busy corporate earnings calendar.

EVENTS TO WATCH

Wholesale price inflation data for December (0630 GMT)

Tata Consultancy Services Ltd Oct-Dec earnings

FINANCIAL/REGULATORY

SEBI's board will on Jan. 18 discuss a proposal to exempt institutional investors from stumping margin money

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