Sensex, Nifty slip as metal, auto stocks decline

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Mumbai: Key indices zoomed nearly 2 per cent on Monday after strong USA jobs data fuelled a global rally in stocks.

The Sensex has so far touched a high of 33,800.04 points and a low of 33,610.37 points during the intra-day trade.

"Market gained a positive momentum on account of easing inflation & better than expected IIP data". Factory output grew at a robust pace for the third straight month, at 7.5 per cent in January.

"While subdued Asian stocks lent to the volatility in the markets, positive macro-economic data at home marginally lifted domestic sentiment", Anand Shah, Deputy CEO & Head of Investments BNP Paribas Mutual Fund.

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The Sensex losers were: Coal India, down 2.26 per cent at Rs 297.80 and State Bank of India, down 0.12 per cent at Rs 252.85. At 3:12 pm, Yes Bank shares were trading 1.9 per cent lower at Rs 319 and 2 per cent lower at Rs 319.05 on the NSE.

It was followed by the auto (up 335.17 points), metal (up 325.30 points), oil and gas (up 321.28 points), capital goods (up 228.70 points) and FMCG (up 219.37 points) indices.

The index finally settled 21.04 points or 0.06% lower at 33,835.74. Bharti Airtel, ITC Limited and the National Thermal Power Corporation were the top gainers in the two indices.

China data: China's industrial production, retail sales and fixed-asset investment numbers will be released on Wednesday and are are likely to point to slower growth, according to Bloomberg Economics forecasts.

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Bucking the trend, the broader markets ended in the green, with the mid-cap index rising 0.28 per cent and small-cap up 0.28 per cent.

"Asian stocks boosted sentiment on the domestic bourses while global stocks gained as worldwide trade-war concerns abated and were replaced by economic optimism following a stronger U.S. jobs report released over the weekend", Karthikraj Lakshmanan, Senior Fund Manager - Equities, BNP Paribas Mutual Fund said.

Elsewhere in Asia, Hang Seng gained nearly 600 points while Nikkei rose more than 350 points.

Frankfurt's DAX up 0.36 per cent in early deals.

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This is unedited, unformatted feed from the Press Trust of India wire.

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