Markets make a slow start, macros take focus

Mumbai: Stocks held out hope today as the flagship Sensex made a tepid recovery ahead of release of key macroeconomic data and start of March quarter earnings season due later this week amid a weak trend in Asia.

The 30-share index, which had lost 398.50 points in the previous three sessions, recovered 55.50 points, or 0.18 per cent, at 29,631.24.

Sectoral indices such as IT, oil and gas, capital goods and technology were in the lead, giving the sentiment a lift.

The NSE index Nifty was also trading higher by 7.95 points, or 0.09 per cent, at 9,189.40.

Optimistic buying in blue-chip stocks ahead of industrial production (IIP) data for February and retail inflation for March tomorrow kept stocks on course.

In the Asian region, Hong Kong's Hang Seng was down 0.76 per cent and Japan's Nikkei fell 0.48 per cent while Shanghai Composite shed 0.36 per cent in early trade today.

The Dow Jones Industrial Average, however, ended 0.01 per cent higher yesterday.