Sensex recoups 88 points despite negative economic data

Reversing its three-day losing streak, market benchmark BSE Sensex recovered over 88 points in early trade today on value-buying in recent losers despite negative macroeconomic data. The 30-share barometer, which had lost 623.89 points in the previous three straight sessions, was trading higher 88.68 points, or 0.33 per cent, at 26,485.45, with realty, consumer durables, capital goods, PSU, metal and healthcare stocks leading the gains.

On similar lines, the NSE Nifty gained 22.90 points, or 0.28 per cent, at 8,120.70 points. Brokers said sentiment turned better despite retail inflation accelerating to 5.76 per cent in May due to rise in prices of food items, including vegetables.

However, a weak trend at other Asian markets, extending sell-off following losses at the US markets amid growing worries this month’s referendum in Britain could see it exit the European Union, weighed on sentiment here, they said.

Globally, Hong Kong’s Hang Seng was down 0.26 per cent, Shanghai’s Composite index fell 0.25 per cent, while Japan’s Nikkei shed 1.49 per cent in early trade. The US Dow Jones Industrial Average ended 0.74 per cent lower in yesterday’s trade.