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Sensex trims initial losses to trade in green

At 9:58am, the benchmark 30-share BSE Sensex was trading up 0.22%, or 43.76 points, at 19,825.64 points

Mumbai: The 30-share bellwether BSE Sensex on Friday opened lower but soon recouped all its losses to trade in the green, gaining some support from the better-than-expected factory output and inflation data.

At 9:58am, the benchmark 30-share BSE Sensex was trading up 0.22%, or 43.76 points, at 19,825.64 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading up 0.21%, or 12.05 points, at 5,862.75.

The Sensex had earlier opened the session at 19,744.54, down 37.34 points from its Thursday’s close of 19,781.88.

The BSE Capital Goods index was the biggest gainer, up 1.67%, while the IT index lost the most, down 0.46%.

The gainers included Tata Power Co. Ltd that rose 2.29% to Rs.78.30, whie Larsen and Toubro Ltd rose 2.27% to Rs.832.20.

Among the losers, ICICI Bank Ltd lost 1.16% to Rs.940, while HDFC Bank Ltd declined 0.9% to Rs.630.

The Index of Industrial Production (IIP) grew 2.6% in July as against a 2.2% decline in June, while consumer price index (CPI)-based inflation decelerated in August for the second consecutive month to 9.52% as against 9.64% in July.

Amit kumar pandey

P.G.D.M. =1ST

FINANCE