Please wait

Nifty achieves all-time high following upbeat growth data; Sensex surges by 300 points

  • NSE Nifty 50 index hits a record high of 20,238.45, marking a 0.52% increase, while S&P BSE Sensex rises by 0.44% to reach 67,286.16
  • India's GDP growth in Q3 at 7.6%, exceeding both economist predictions and RBI estimates, driven by strong performance in the manufacturing sector
  • Positive market sentiment fueled by expectations of sustained economic growth, increased FPI inflows, and favorable global factors, including a potential peak in the US interest rate cycle

01 Dec 2023

Nifty achieves all-time high following upbeat growth data; Sensex surges by 300 points

The NSE Nifty 50 index soared to a new record high of 20,238.45, marking a 0.52% increase, driven by faster-than-expected economic growth in the September quarter. The S&P BSE Sensex also rose by 0.44% to reach 67,286.16, affirming positive sentiments in the market.

India's robust 7.6% GDP growth, surpassing both economist predictions and the Reserve Bank of India's estimates, fueled optimism, particularly in the manufacturing sector. Analysts anticipate sustained positive growth for India, buoyed by government capex initiatives, while the expected peak in the US interest rate cycle draws foreign investments toward emerging equities like India.

In November, Nifty and Sensex posted their best monthly performance in 2023, supported by renewed foreign portfolio investor (FPI) inflows totaling INR 90 billion ($1.1 billion).

 

Ad Image
Comments

No comments to show. Log in to add some!

Other Relevant Stories







Download The Taaza Tv App Now to Stay Updated on the Latest News!


play store download
app store download
app img


Breaking News