Markets wait eagerly for GDP numbers to be released anytime now

Even as equity markets in India on Wednesday till the time of lunch hours have shown a positive inclination, Nifty rising up by over 60 points thus holding the level of 8200 strong and Bank Nifty helping the index going strong being up by over 350 points, investors have been awaiting economic data release by the government eagerly since this morning. Since the demonetisation efforts by Narendra Modi-led government, this will be the first time when GDP data will be shared with commoners. Though there may not much impact of demonetisation in the set of data to be released today, some of the experts believe at least the data will show certain nature of its rise and fall post-demonetisation. Meanwhile, one of the prominent bankers of the country, Aditya Puri told media that speculations by certain analysts and research firms on a possible GDP fall by two per cent or more, do not hold any water. Lashing out those research firms, Puri opted for showing confidence on the entire demonetisation process and also clarified that it might not at all lead to any fall in GDP. Meanwhile optimism for a strong September GDP data helped retail investors to make some buying in otherwise dull markets. A poll by Reuters say Indian economy may show rise by 7.5 per cent during the period of July to September, while some other research firms have pegged the GDP at 6.5 per cent. All eyes now are on the corridors of power in the national capital as the crucial numbers are expected to come out soon after the markets are shut for the day. A lot of Thursday's activities in the markets will depend on the GDP numbers--any fall beyond 7 per cent may prove to be a strong dampener for the sentiments of the equity markets.