Commencing the new fiscal 2015-16 on a positive note, the benchmark BSE Sensex gained over 35 points in early trade today on selective buying by funds and retail investors despite weak economic data.
The growth in eight core industries slowed down to 1.4 per cent in February due to output decline in five sectors including crude oil and natural gas. The 30-share index, which had lost 18.37 points in yesterday’s trade, rose by 35.47 points, or 0.12 per cent, to trade at 27,992.96, with gains in stocks of healthcare, capital goods, FMCG, power, auto and Oil & gas sectors.
The broad-based National Stock Exchange index Nifty, however, was trading flat at 8,490.85 in early trade today. Brokers said participants preferred to adopt a cautious approach on the first trading session of fiscal 2015—16 ahead of long weekend and kept their commitments restricted in early trade.
Markets will remain closed on Thursday and Friday this week on account of “Mahavir Jayanti” and “Good Friday” respectively.
In the Asian region, Hong Kong Hang Seng index gained 0.51 per cent, while Japan’s Nikkei fell by 0.89 per cent in early trade today.
The US Dow Jones Industrial Average ended 1.11 per cent lower in yesterday’s trade.
