The stock market commenced trading on Friday with a positive outlook, maintaining the upward momentum witnessed in recent sessions, bolstered by favorable global market indicators.
This comes, right at the back of the recent GDP released by authorities. In these numbers, according to these numbers, the Indian economy grew at massive 8.4 per cent in the third quarter of FY24. This surpassed initial estimates of 8.1 per cent.
This would also reflect in the overall numbers for the entire fiscal year as well, as they economy is expected to end FY24 with a 7.6 per cent growth rate, compared to the earlier estimate of 7.3 per cent.
Rally in green
Both the Sensex and Nifty indices opened on a buoyant note, signaling a promising start for the Indian benchmark index amid optimistic sentiments.
The Sensex is currently trading at 73,146.20, after seeing a surge of 645.91 points (11:12 AM) while the Nifty is trading at 22,185, gaining 202.20 point (11:12 AM).
In addition this is also seen as ripple effect of advances elsewhere as well. The US market and marquee indices, including Nasdaq and S&P 500 surged on Thursday. On Friday, major Asian markets also opened on a positive note with Nikkei and Hang Seng making major gains.
Among the Nifty companies, 39 witnessed advances while 11 experienced declines in early trading.
Markets on Thursday
Notable gainers in the Nifty included BPCL, Tata Steel, ONGC, JSW Steel, and LT, whereas Apollo Hospitals, Infosys, Sun Pharmaceuticals, Cipla, and LTI Mindtree were among the top losers.
During Thursday's trading session, the benchmark equity indices closed higher despite volatility surrounding the monthly F&O expiry.
The Sensex concluded with a gain of 195.42 points, or 0.27 per cent, at 72,500.30, while the Nifty settled at 21,982.80, up by 31.65 points, or 0.14 per cent.
In the global market scenario, European shares opened marginally higher on Thursday, primarily driven by gains in materials stocks, as the pan-European STOXX 600 rose by 0.2 per cent.
(With inputs from ANI)
