Sensex surges 1,100 pts to hit new all-time high, Nifty crosses 22,300 on robust Q3 GDP
The top gainers on the BSE Sensex pack were Tata Steel, JSW Steel, Larsen & Toubro, Titan Company, and ICICI Bank, rising in the range of 3-5%.
The top gainers on the BSE Sensex pack were Tata Steel, JSW Steel, Larsen & Toubro, Titan Company, and ICICI Bank, rising in the range of 3-5%.
The NSO has revised GDP growth for Q2 FY24 to 8.1% from 7.6%, while that for the first quarter has been revised higher to 8.2% from 7.8%.
The first trading day of December month started on a strong note, with the Sensex and Nifty rising nearly 0.8% to touch their fresh lifetime highs.
Household financial assets are at 47-year low pointing to headwinds against growth
For Q1 FY2023-24, economists are pegging India’s GDP to surpass 8%, pushing India’s GDP growth beyond 6.5%
The fourth quarter GDP growth surprised positively at 6.1% YoY versus its 5.4% estimate, says Prithviraj Srinivas, Chief Economist, Axis Capital.
Further moderation in GDP is seen amid the RBI’s aggressive rate hike stance to contain inflation. The slowdown in exports and low consumer demand also contributed to low GDP growth.
India’s FY23 GDP forecast could see an upward revision from the current 6.8% towards 7%, says a report.
This brings India's GDP growth for the March quarter to an one-year low despite managing to outdo expectations by most analysts.
From the Russia-Ukraine crisis to GDP data to ongoing state elections to sales figures of auto companies – this week is going to be action-packed for Dalal Street.