Mumbai: In a cautious trade ahead of announcement of macro economic data by the government today, the benchmark BSE Sensex was trading higher by 101 points at 26,472.72 in the mid-session after overnight heavy sell-off amid mixed Asian trends.
The government will release data on industrial production (IIP) for April as also consumer price index-based inflation for May after market hours today.
The market is also looking for the next triggers to decide on its future direction, including progress of the monsoon and June earnings by key companies.
The petro-chem giant and top heavyweight, Reliance Industries (RIL) was trading higher 1.22 per cent as its 41st Annual General Meeting (AGM) got under way today.
The company’s announcement on launch date, total capex and future plans for Rel Jio at the AGM is expected to have a bearing on the market. Rel Jio has invested about Rs 30,000 crore till now in the telecom business.
Refinery, IT, FMCG, capital goods and technology shares were ruling higher while metal, pharma and auto saw profit booking.
The 30-share barometer resumed lower and touched a low of 26,307.56 before recovering to 26,472.72 at 1227 hours, a jump of 101.74 points, or 0.39 per cent. Yesterday, it had tumbled 469.52 points, or 1.75 per cent, on sustained capital outflows on some local negative factors.
The broader NSE Nifty also edged up 14.15 points, or 0.18 per cent, to 7,979.50 at 1227 hrs.
Besides, a mixed trend in Asian markets influenced trading sentiment here. Key indices from China, Hong Kong and Singapore were trading in the green while those from Japan, South Korea and Taiwan were in the red.
PTI
