Sensex near 3-1/2 month high, trading above 20,000

Reuters Market Eye - The Sensex gains 0.63 percent to trade above the psychologically important level of 20,000, while the broader Nifty is up 0.6 percent. Both indexes hit their highest intraday level since January 29.

Little impact seen from data showing the industrial output accelerated to 2.5 percent in March from a year earlier, stronger than consensus forecasts for 2 percent growth.

Investors say consumer price index on Monday and wholesale inflation data on Tuesday, will be the key triggers.

Shares in Maruti Suzuki India Ltd gain 3.6 percent, tracking a weaker yen and optimism around its parent Suzuki Motor Corp's <7269.T> record profit in the financial year ended March.

 

ITC Ltd gains 1.4 percent, after earlier hitting its all-time high of 349.95 rupees, as investors place long positions on equity futures of the company.

State Bank of India gains 1 percent, up for a second day after state-run Punjab National Bank and Union Bank of India Ltd reported a sequential improvement in asset quality for the January-March quarter.

(Reporting by Abhishek Vishnoi)