Bourses touch high levels on GDP data, Sensex soars over 1,200 pts
India’s economy grew by better-than-expected 8.4 per cent in the final three months of 2023 — the fastest pace in one-and-half years;
Benchmark equity indices Sensex and Nifty rallied more than one-and-a-half per cent to hit their lifetime highs on Friday helped by impressive GDP data and fresh foreign fund inflows.
The 30-share BSE Sensex jumped 1,245.05 points or 1.72 per cent to reach 73,745.35 — its all-time closing peak. During the day, it zoomed 1,318.91 points or 1.81 per cent to hit a record intra-day high of 73,819.21.
The Nifty climbed 355.95 points or 1.62 per cent to settle at a new closing high of 22,338.75. During the day, it soared 370.5 points or 1.68 per cent to reach its intra-day record peak of 22,353.30.
Among the Sensex firms, Tata Steel jumped over 6 per cent while JSW Steel climbed more than 4 per cent. Larsen & Toubro, Titan, Maruti, IndusInd Bank, ICICI Bank and Tata Motors were the other major gainers. HCL Technologies, Infosys and Tech Mahindra were the laggards.
India’s economy grew by better-than-expected 8.4 per cent in the final three months of 2023 — the fastest pace in one-and-half years.
The growth rate in October-December was higher than 7.6 per cent in the previous three years, and it helped take the estimate for the current fiscal (April 2023 to March 2024) to 7.6 per cent, according to the data released by the National Statistical Office on Thursday.
Leading stock exchanges BSE and NSE will conduct a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site.
The exchanges said there will be two sessions — the first from 9:15 am to 10 am on the Primary Site (PR), and the second from 11:30 am to 12:30 pm on the Disaster Recovery (DR) site.