Sensex rises as Europe gains; CPI data in focus

MUMBAI (Reuters) – The BSE Sensex reversed losses to end stronger on Monday on optimism ahead of the retail inflation data due later in the day while sentiment was boosted after European shares gained on increased mergers and acquisition activity in the healthcare sector.

The local share market had earlier dropped as much as 0.5 percent as lower oil prices hurt energy stocks.

Traders will closely watch the retail inflation print, due to be released later in the day, which is likely to determine the central bank’s stance during its monetary policy review on Feb. 3.

A Reuters poll showed the consumer price index accelerating to 5.4 percent in December from 4.4 percent in November, but still within the central bank’s comfort zone.

The benchmark BSE Sensex closed 0.46 percent higher at 27,585.27

The broader Nifty gained 0.46 percent to 8,323.

(Reporting by Dipika Lalwani; Editing by Biju Dwarakanath)

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