Sensex up 57 points ahead of IIP, inflation data

MUMBAI: The benchmark BSE Sensex recovered over 57 points in early trade on Tuesday on mild buying in select stocks by participants amid mixed Asian cues and ahead of the IIP and inflation data to be released later in the day.

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The 30-share index was 57.26 points, or 0.23 per cent, higher at 24,882.30 in early trade with sectoral indices, led by power, capital goods, infrastructure, PSU, pharma and consumer durables and oil & gas were in positive terrain.The gauge had fell 109.29 points in yesterday's trade, its fifth fall in six sessions.

The National Stock Exchange index Nifty was quoting higher by 24.45 points, or 0.32 per cent, at 7,588.30.

Stock brokers said widening of positions by cautious participants ahead of key economic data — industrial production (IIP) numbers for December and inflation — to be released later in the day and a mixed trend at other Asian bourses influenced sentiment.

In the Asian region, China's main Shanghai Composite Index rose 0.38 per cent, Hong Kong's Hang Seng up 0.27 per cent while Japan's Nikkei shed 1.67 per cent in morning trade today.

The US Dow Jones Industrial Average ended 0.32 per cent higher in Monday's trade.

Source - TOI 

Arun Jaitley Hopes Low Interest Rates, Inflation to Stay

Mumbai: Finance Minister Arun Jaitley said on Saturday he hoped interest rates and inflation would remain low to help revive the economy.

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"We can look back with a sense of satisfaction over the last year. The Reserve Bank of India has also on four occasions taken positive steps as far as rates are concerned. Hopefully this movement is there to stay," Mr Jaitley said at an industry event in Mumbai.

Last month, the central bank cut its policy interest rate to a 4-1/2 year low of 6.75 per cent, in a bigger-than-expected move, which, along with low levels of inflation, is expected to help a slowing economy.

Mr Jaitley also said the government would soon announce measures to deal with the debts faced by the power industry.

Source - NDTV