India’s Nifty and Sensex are experiencing a remarkable surge of over 1.50% on Friday, buoyed by the exceptional performance of India’s GDP. After a slight uptick on Thursday following a previous day’s decline of around 1.0%, Nifty and Sensex are now soaring as India’s GDP outperforms expectations. While US Core PCE inflation aligned with estimates, India’s GDP soared to an impressive 8.4% year-on-year in Q3. The Sensex 30 and Nifty 50, India’s primary benchmark indices, are riding high on Friday as traders celebrate India’s stellar growth figures. These indices also track the global stock markets, showing positive momentum.

As of the latest update, the National Stock Exchange (NSE) Nifty 50 and Bombay Stock Exchange (BSE) Sensex 30 have surged approximately 1.60% to reach 22,334.80 and 73,661.01, respectively. Both indices are nearing their all-time highs.

Key Highlights from the Stock Market:

  • Notable gainers on Nifty today include L&T, JSW Steel, ICICI Bank, Tata Steel, and Titan. Conversely, the main losers are Apollo Hospitals, Sun Pharma, Dr Reddy, HCL Tech, and Infosys.
  • Shares in the auto, metal, power, bank, and capital sectors are up 1% to 3%.
  • L&T has commissioned a Green Hydrogen Plant at Hazira’s A M Naik Heavy Engineering Complex.
  • Contracts worth Rs 13,368 crore have been awarded to L&T for supplying equipment to the Indian Air Force.
  • Bharti Airtel has deployed additional sites in the Thrissur district to strengthen its network.
  • India’s manufacturing sector has reached a five-month high of 56.9 in February.
  • India’s Gross Domestic Product (GDP) expanded by an impressive 8.4% annually in the third quarter (October-December), up from 7.6% in the previous quarter, as per data released by the National Statistical Office (NSO) on Thursday.
  • In the US, stock markets closed higher on Thursday following the expected increase of 0.4% in the key US Personal Consumption Expenditures (PCE) Price Index for the month and a 2.8% rise from a year ago.
  • There’s about a 20% chance that the US Federal Reserve (Fed) could commence rate easing in May, down from over 90% a month ago. For the June meeting, the probability of a rate cut is approximately 62%, down from 70% a week ago.
  • Attention is shifting towards the US ISM Manufacturing PMI for fresh trading cues.
  • NSE and BSE will conduct a unique live trading session on Saturday, March 2.

By Admin

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