The Sensex rose modestly on Monday after second quarter GDP data came in slightly higher than estimates raising hopes of recovery in subsequent quarters. The Nifty traded above the 6200 mark, while the rupee edged higher against the dollar at 62.27.
September's figure of 4.8 per cent was ahead of estimates of 4.6 per cent growth estimate in the quarter. However, this was the fourth successive quarter of economic growth below 5 per cent and way below the 8 per cent mark the government says is needed to reduce poverty and provide jobs.
Lenders led the gains, with the Bank Nifty on the NSE rising 1 per cent. State-run PNB and private lender ICICI Bank were among the top gainers on the Nifty.
Realty and capital goods shares also rose over 1 per cent, while energy and IT stocks came under selling pressure.
Indian stock markets have largely been flat after the Sensex hit a record high on November 3, but analysts hope markets to rally in December.
September's figure of 4.8 per cent was ahead of estimates of 4.6 per cent growth estimate in the quarter. However, this was the fourth successive quarter of economic growth below 5 per cent and way below the 8 per cent mark the government says is needed to reduce poverty and provide jobs.
Lenders led the gains, with the Bank Nifty on the NSE rising 1 per cent. State-run PNB and private lender ICICI Bank were among the top gainers on the Nifty.
Realty and capital goods shares also rose over 1 per cent, while energy and IT stocks came under selling pressure.
Indian stock markets have largely been flat after the Sensex hit a record high on November 3, but analysts hope markets to rally in December.
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