GDP data drives market to rally
DSIJ Intelligence / 01 Mar 2017
Indian markets have cheered investors on surprising Q3FY17 GDP data. After two days of losing steak, markets surged more than 0.75 per cent.
Indian markets have cheered investors on surprising Q3FY17 GDP data. After two days of losing steak, markets surged more than 0.75 per cent.
At the closing bell, Nifty ended at 8945, with gain of 66 points and BSE Sensex closed at 28984 with an increase of 241 points. On the NSE, 29 shares closed in the green, while 21 shares ended the day in the red and one remained unchanged.
All indices closed in the green, except Oil & Gas and Consumer Durables. Bankex and Metals increased more than 225 points each. Healthcare and FMCG also rose more than 100 points each. However, Oil & Gas declined 123 points. Mid-cap and Small-cap indices increased 17 points and 62 points, respectively.
Asian markets remained positive on Wednesday. Shanghai increased 0.16 per cent, Hang Seng rose 0.15 per cent, while Nikkei gained 1.44 per cent. European markets also joined the global rally and were trading on bullish sentiment.
Derivative Analysis
Nifty Future closed with positive bias at 8972. Going ahead, 9002/8927 will be the immediate support levels.
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