Sensex opens positive ahead of inflation data

The benchmark BSE Sensex recovered over 78 points in early trade today as participants made fresh buying in selective stocks ahead of inflation data to be released later in the day.

The 30-share index was trading higher by 78.52 points, or 0.27%, at 28,581.82 as sectoral indices, led by IT, technology and healthcare, were trading in positive zone.

The gauge had lost 427.11 points in the previous session on Friday after the rise in retail inflation dampened hopes of aggressive rate cuts by RBI.

On similar lines, the National Stock Exchange index Nifty edged higher by 15.80 points, or 0.18%, at 8,663.55.

Brokers said fresh positions created by participants ahead of inflation data based on wholesale price index for February, to be released later in the day, supported the upside in select stocks.

Besides, reports that foreign funds were net buyers on the domestic bourses influenced trading sentiments, they added.

Among other Asian markets, Hong Kong's Hang Seng was up by 0.33%, while Japan's Nikkei gained 0.22% in early trade today.

However, the US Dow Jones Industrial Average ended 0.82% lower in Friday's trade.