Sensex jumps 91 points on macro data, earnings optimism

Benchmark Sensex built on gains to close at a fresh six-week high of 34,192.65 today on better-than-expected macro data and optimism ahead of the earnings season.

This was the seventh straight session of gains for the index, its longest winning streak since November 24 last year.

The 30-share BSE Sensex rose by 91.52 points to end at 34,192.65 after hitting a high of 34,313.14 and a low of 34,103.53.

This was its highest closing since February 27 when it had settled at 34,346.39 points.

It had gained 1,082.06 points in the past six sessions.

The broader NSE Nifty rose 21.95 points, or 0.21 per cent to finish at 10,480.60 after shuttling between 10,519.90 and 10,451.45.

Both the key indices finished with gains for the third week in a row. The BSE Sensex recorded a significant rise of 565.68 points, or 1.68 per cent, while the NSE Nifty advanced 149 points, or 1.44 per cent, this week.

Investor sentiment was upbeat on positive macro data announced after trading hours yesterday and optimism ahead of earnings by Infosys coupled with a firming trend at other Asian bourses.

The index of industrial production (IIP) grew by a healthy 7.1 per cent in February, driven largely by the robust performance of the manufacturing sector coupled with higher offtake of capital goods and consumer durables, while the key retail inflation slipped to a five-month low of 4.28 per cent in March, official data showed yesterday.