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Sensex rises to 1-wk high, up 128 pts ahead of inflation & IIP data

Rising for the second day, the Bombay Stock Exchange benchmark Sensex on Thursday jumped by 127.75 points to end at one-week high level of 18,542.20 on the back of solid 3-4 per cent gains in shares of Infosys, ICICI Bank and Tata Motors ahead of consumer inflation and IIP data on Friday.

The Bombay Stock Exchange 30-share barometer resumed strong and moved in a range of 18,599.14 and 18,397.94 before concluding at one-week high of 18,542.20 -- a gain of 127.75 points or 0.69 per cent. On Wednesday, it rose by 187.97 points.

Thursday's close was the highest since 18,801.64 on 3 April.

Similarly, the CNX Nifty of the NSE also improved further by 35.30 points or 0.64 per cent to end at 5,594.00.

Brokers said buying was seen in realty, IT, banking and capital goods counters ahead of IIP and CPI data to be released on Friday. Infosys, which surged by 3.72 per cent, is also expected to help set the tone for markets tomorrow as the IT bellwether will come out with its quarterly earnings.

Tata Motors, ICICI Bank, L&T, HDFC Bank, ONGC, Sun Pharma and SBI also attracted good buying interest.

Sentiment also improved after data showed Foreign Institutional Investors (FIIs) bought shares worth a net Rs 40.22 crore on Wednesday.

However, Bharti Airtel was the biggest loser in Sensex as it fell 2.31 per cent after it was Thursday's restrained by Supreme Court from providing 3G roaming services to new customers in 7 circles where it does not have licence to do so.

Barring China, other Asian stocks closed with gains, as the yen neared 100 to the dollar after the Bank of Japan said it will maintain stimulus and loan growth in China topped estimates. European markets too were quoting higher in their early trade.
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