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The BSE Sensex recovered in opening trade on Monday, breaking its five-session losing streak on value-buying by investors despite industrial production entered the negative territory in June. Short-covering in recently beaten down stocks by speculators and a mixed trend on other Asian bourses, tracking weekend gains in the US markets, influenced trading sentiment, brokers said. The 30-share barometer, which had lost 1,111.82 points in the previous five straight sessions, was trading higher, with all the sectoral indices led by realty, metal, and infrastructure trading in green.
On similar lines, the NSE Nifty rose. Meanwhile, the Index of Industrial Production (IIP) entered the negative territory in June, contracting by 0.1%, mainly due to decline in manufacturing and capital goods sectors. Besides, segments like mining, power generation, infrastructure/construction goods and consumer durables recorded poor performance.
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