Benchmark Indices Continue To Surge

The benchmark indices have been rising and hitting all time high for eight consecutive trading sessions. In today's trade BSE Sensex was up by 0.24% and Nifty was up by 0.28%. The boost in the market sentiments is primarily due to better than expected GDP data which came in at 5.7% for quarter ended June compared to 4.6% in the previous quarter. Also the CAD data narrowed down to 1.7% of GDP compared to 4.8% of GDP in the year-ago period. This was backed by decline in imports and rise in exports. 

The broader markets outperformed their counterparts with BSE mid-cap up by 0.73% while small-cap was up by 0.58%. Tracking the momentum of sectoral indices, BSE IT was up by 2.06% after the rupee weakened against the US dollar. The early gainers in the market were led by TCS and Infosys, each up by 1.88% and 1.82% respectively. While GAIL, Grasim, BHEL, were seen trading in red, down by 1.94%, 0.97% and 0.81% respectively. 

Further a firming trend was seen in the Asian market. All the indices were seen trading in green. Japan's Nikkei was up by 0.67%, Hong Kong's Hang Seng was up by 1.51% and China's Shangai was up by 0.70%.