Sensex up 173 pts ahead of IIP, CPI

Sensex and Nifty opened higher on Thursday ahead of the release of key macro figures -- CPI and IIP -- later in the day.

Analysts have said that the upcoming macro indicators like CPI inflation and the IIP data were unlikely to paint a rosy picture which may reduce upside potential in the near term.

Citing higher inflation the central bank in a surprise move earlier this month decided to keep the key lending rates unchanged after slashing rates for five consecutive times since the start of the year.

The Sensex was up 172.21 points at 40,584.78. It opened at 40,561.34 from its previous close of 40,412.57.

It traded in a range as it touched an intra-day high of 40,636.96 and a low of 40,496.82. The broader Nifty was up 52.65 points at 11,962.80

Index heavyweights Infosys and Bharti Airtel were trading in the red but Reliance Industries, SBI and HDFC Bank gained.

Yes Bank jumped over 3 per cent.

On Wednesday, FPIs bought Rs 605.41 crore worth of stocks while domestic investors purchased Rs 239.87 crore worth of scrips.IANS