Markets open mildly positive; Inflation data eyed

Commentary

oi-Sneha

By Sneha B K

Published: Monday, May 14, 2012, 9:38 [IST]

Markets opened marginally higher on Monday amid mixed Asian cues, with investors eyeing the inflation data, due later today. At 9.30 am IST, the Sensex was trading at 16341.62 points, up 48 points and the Nifty was at 4940.75 points, up 11 points.

On Friday, IIP data disappointed at -3.5%, which dampened market sentiments and indicated a slow growth rate in industrial output. Now investors keep eye on April inflation data hoping for another round of drop in repo rates.

Asian peers were trading mixed with the Nikkei 225 down by 0.01%, while the Hang Seng up 0.09% and the Shanghai Composite up 0.19%.

Among sectoral indices on BSE, all the sectors were in positive terrain except FMCG and Oil & Gas in early morning trade.

While on the losing side, the stocks that failed to lure investors were Tata Power, Sun Pharmaceuticals, ACC and ONGC.

Among the stocks that gained today in early trade were Sterlite Industries, Bajaj Auto, Dr Reddys Laboratories and Sesa Goa.

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