Sensex opens with marginal gains, all eyes on macro data

It was a cautious mood at the start for markets today, with the Sensex inching up 50 points, as the countdown begins for release of key IIP and inflation data later in the day.

Shares overseas cut a sorry figure as geo-political tug-of-war over the Middle-East and the Korean Peninsula weighed.

The 30-share index went up 50.47 points, or 0.16 per cent, at 29,838.82. Sectoral indices led by metal, oil and gas, realty, banking and auto goods hit a sweet spot.

The gauge had gained 213 points yesterday.

National Stock Exchange’s Nifty rose 8.85 points, or 0.09 per cent, to 9,245.85.

Dealers said building up of positions by participants ahead of key economic data – industrial production (IIP) for February and consumer price index (CPI) for March – to be released after market closing today influenced sentiment.

However, other Asian markets saw weakness, which restricted the upmove here.

While Japan’s Nikkei was down 1.24 per cent, Hong Kong’s Hang Seng shed 0.18 per cent in early trade today. China’s main Shanghai Composite Index was also down by 0.49 per cent.

The US Dow Jones Industrial Average ended 0.03 per cent lower yesterday.