GDP does a WOW act; grows at 7.9 percent for the March quarter

In what can bring cheers to investors and traders the GDP data for the March quarter came in at 7.9 percent even as the GDP growth for the whole year was announced to be 7.6 percent. 

In the previous quarter to March the revised GDP data suggested a growth of 7.2 percent. For the whole year i.e for 2015-16 ending in March, GDP growth at 7.6 percent was in line with the market estimates at 7.5 percent. The GDP growth was 7.2 percent in 2014-15. 

The GDP data at 7.9 suggest building up of momentum at much faster rate than expected and could lead to revival in sentiment amongst private investors, both global and local. 

The broader market Sensex traded negative for most of the trading session on Tuesday while managing to shut shop at 26,667, down by 57 points or 0.22 percent. European markets are trading down marginally but with US markets expected to trade in green and more importantly expected to open in green due to upbeat US report on consumer spending rising by 1 percent in April, the largest amount in more than six years, investors can expect some action on bourses in India on Wednesday owing to GDP growth data for the March quarter.