Sensex gains 58 points on value-buying

The benchmark BSE Sensex staged a modest recovery by rising over 58 points in early trade as shares of Coal India, Wipro, TCS and Bajaj Auto led the gains on value-buying by participants after recent losses. 

However, caution prevailed ahead of a host of macroeconomic numbers such as IIP and inflation data, to be released this week. 

The 30-share index, which had lost 1,080.50 points in the past four straight sessions, recovered 58.57 points, or 0.21%, to 26,827.06. 

Also, the NSE index Nifty edged higher by 16.30 points, or 0.20%, to 8,131.00. 

Brokers said emergence of buying at prevailing levels in beaten-down blue-chips helped trading sentiment improve. 

They said a mixed trend at other Asian markets also influenced sentiment. 

Among other Asian markets, Hong Kong's Hang Seng was up marginally by 0.20% while Japan's Nikkei shed 0.21% in early trade. 

The US Dow Jones Industrial Average ended 0.31% lower in Friday's trade.