Sensex rebounds 166 points on inflation cheer

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Indian stock brokers react while watching the Bombay Stock Exchange (BSE) index on their trading terminal in Mumbai, India, Monday, Dec. 9, 2013. India's Sensex jumped 1.7 percent to a record high after sweeping victories for India's pro-business opposition party in state elections suggested it will win national polls in May. (AP Photo/Rajanish Kakade)

Mumbai: The Sensex on Monday bounced nearly 166 points to 30,354 in early part, taking comfort from positive inflation numbers, with the hope that earnings momentum by blue-chips will keep up foreign capital inflows.

A mixed trend prevailed in the rest of Asia.

The 30-share barometer jumped 165.90 points or 0.55%, to 30,354.05. Sectoral indices, led by metal, realty, banking, FMCG, capital goods and PSU, rose by up to 1.02%.

The gauge had retreated from record highs by falling 62.83 points in the previous session on Friday.

The NSE index Nifty recovered by 38.90 points, or 0.41%, to 9,439.80.

Buying activity paced up on positive economic data after retail inflation fell sharply to 2.99 per cent in April, from 3.89% in March, while inflation based on the wholesale price index slipped to a four-month low of 3.85% in April.

Industrial output growth, however, weakened to 2.7% in March, showed the IIP data based on the revised base year of 2011-12.

Hong Kong’s Hang Seng and China’s Shanghai Composite inched up. Japan’s Nikkei, however, logged losses.

The US Dow Jones Industrial Aver

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