NewDelhi: Stock market opened on a positive note on Monday on robust GDP numbers for the January-March quarter amid sustained foreign fund outflows.
The BSE Sensex jumped over 200 points while the Nifty traded above 10,700 in opening trade. Sensex however pared the initial gains and was trading down 42 points or 0.23 percent at 35,185.25. Similarly the Nifty came below 10,700 by dropping 19.80 points to 10,676.40.
India’s GDP grew at the fastest pace in seven quarters at 7.7 percent in January-March, retaining the fastest growing major economy tag on robust performance by manufacturing and service sectors as well as good farm output.
New Delhi: Stock market opened on a positive note on Monday on robust GDP numbers for the January-March quarter amid sustained foreign fund outflows.
The BSE Sensex jumped over 200 points while the Nifty traded above 10,700 in opening trade. Sensex however pared the initial gains and was trading down 42 points or 0.23 percent at 35,185.25. Similarly the Nifty came below 10,700 by dropping 19.80 points to 10,676.40.
India’s GDP grew at the fastest pace in seven quarters at 7.7 percent in January-March, retaining the fastest growing major economy tag on robust performance by manufacturing and service sectors as well as good farm output.
Major losers were HDFC Bank, Asian Paints, Adani Ports, TCS, HUL, Power Grid, ONGC, Maruti, Bharti Airtel, Kotak Bank, NTPC and Wipro falling up to 1.90 percent.
Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 337.97 crore, while foreign portfolio investors (FPIs) sold equities to the tune of Rs 202.80 crore on Friday, provisional data showed.
Elsewhere in Asia, Hong Kong’s Hang Seng was up 1.33 percent, while Japan’s Nikkei rose 1.33 percent in early trade today. Shanghai Composite Index gained 0.17 percent.
The US Dow Jones Industrial Average ended 0.90 percent higher in Friday’s trade.
Bureau Report
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