On Thursday, share markets in India ended marginally higher. The BSE Sensex closed higher by 84 points and the NSE Nifty finished up 34 points.
The Nifty50 settled the August series of derivatives contract above 9,900 thanks to gains in information technology stocks, realty stocks and automobile stocks.
Adani Ports, Wipro and Tata Power gained the most on both indices, while Bosch, Bharti Infratel, Infosys and M&Mwere the top losers.
India’s Q1 GDP Data
The Central Statistics Office (CSO) released gross domestic product (GDP) growth estimates for the first quarter of 2017-18 (April-June) yesterday.
Sandwiched between the government’s demonetisation program and the implementation of the goods and services tax (GST), most experts expected the GDP print to be around 6%.
The economy clocked a 6.1% growth rate in the January-March period – its lowest pace of growth in the past nine quarters, mainly due to demonetisation.
Top Stocks in Action Today
Punjab National Bank share price will be in focus today after it was reported that the bank has cut its marginal cost based lending rates by up to 0.25% for select maturities, effective today. The state-owned lender has also slashed its base rate by 0.20% to 9.15%.
Fortis Healthcare will hog the limelight today following news reports that the Supreme Court has refused to grant permission to the company’s promoters to sell their shares that they have pledged with banks and financial institutions.
Meanwhile, as per an article in Business Standard, Swedish defence and aerospace major, Saab, will announce a partnership with the Adani group to manufacture defence equipment in India, including Saab’s new Gripen E single-engine, medium fighter if that is chosen by the IAF.
Singapore-based power producer Sembcorp Industries has entered into an agreement to acquire IDFC’s remaining stake of 28% in renewable energy firm Sembcorp Green Infra (SGI) for Rs 14.10 billion.
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