GDP growth rate updates: FinMin Piyush Goyal says numbers show economy is set for higher growth
The key Indian equity indices surged over one percent on Thursday over expectations of a higher gross domestic product (GDP) growth rate and predictions of a normal southwest monsoon.
According to market analysts, lower crude oil prices and healthy buying in banking, oil and gas and finance stocks pushed the key indices higher.
At 3.30 pm, the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,736.15 points, up 121.80 points or 1.15 percent from the previous close of 10,614.35 points.
Representational image. Reuters
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 35,083.81 points jumped over one percent by the end of the day 's trade. It closed at 35,322.38 points (3.30 p.m.) -- up 416.27 points or 1.19 percent -- from its previous session's close of 34,906.11 points.
The Sensex touched a high of 35,416.03 points and a low of 34,926.08 points. The BSE market breadth, however, was bearish as 1,657 scrips declined against 996 which advanced.
The major gainers on the BSE were Adani Ports, HDFC Bank, IndusInd Bank, Mahindra and Mahindra (M&M) and Hindustan Unilever, while Sun Pharma, Tata Motors, Hero MotoCorp, Bajaj Auto and Dr Reddy's Lab were the major losers.
On the NSE, the top gainers were Adani Ports, IndusInd Bank and HDFC Bank, while Sun Pharma, Tata Motors and Titan lost the most.
Updated Date: May 31, 2018 19:00 PMSource: Google News