Markets End in Green; Nifty Closes Just Above 5K

The Indian markets closed the day on a positive note. The Sensex trades at 16676 up by 260 points while the Nifty closed at 5001 up by 81 points. The Nifty managed to close just above the psychological level of 5000. In today’s trade almost all the sectoral indices closed in green led by the Metal and Realty indices that closed the day with a gain of more than three and half percentage points. The only exception in today’s trade is the FMCG index that closed in flat in red. The first quarter GDP growth dipped to 7.7 per cent compared to 9.3 per cent during the same quarter of the previous year. Manufacturing sector growth came in at 7.2 per cent vs 12.7 per cent on a y-o-y basis. Industrial growth stood at 5.1 per cent and the farm sector grew at 3.9 per cent, according to the government data. The market breadth was fairly positive with 1832 advances as against 974 declines on BSE. On the global front, European stocks advanced for a second day amid speculation the outlook for the global economy is not as bad as feared. Asian shares climbed while U.S. index futures fell.