Markets Fall After Supreme Court Judges’ Press Conference; Sensex, Nifty Trading in The Red
Mumbai, December 15: Key Indian domestic indices- BSE Sensex and NSE Nifty opened on a positive note during early morning trade on Thursday. Sensex zoomed 298 points or 0.90% to 33,544.77 while the wider Nifty was up by over 104 points or 1.02% to 10,357.05 after exit poll results on Thursday predicted a win-win situation for the Bharatiya Janata Party (BJP) in poll-bound Gujarat and Himachal Pradesh. During the pre-opening session, Sensex gained 350 points while the wider Nifty was above 10,300. The Indian rupee reported a fresh 3-month high of 64.12 against dollar in early trade on Friday. The home currency opened 19 paise up at 64.15 against dollar on Friday.
At 10 AM: Markets zoomed further during early morning trade on Friday after the exit poll results released after trading hours on Thursday showed the Bharatiya Janata Party will in Gujarat and Himachal Pradesh. Sensex zoomed 340 Points or 1.03% to 33,587.67 while the wider Nifty jumped 114 points or 1.11% to 10,366.15.
On Thursday, Sensex closed 193 points up or 0.59% to 33,246.70 while the wider Nifty too ended on a positive note after closing 59 points up or 0.58% to 10,252.10. Stocks summoned courage and left early losses behind with a gain of 194 points at the close today as investors shifted their attention to exit poll results of Gujarat election. The NSE Nifty went above the 10,250-mark on some fag-end buying.
According to a PTI report, Standard Chartered said in a research report on Thursday said that India’s economic growth has bottomed out and will recover further to 7 per cent over the next few quarters, but it is likely to take a few years to return to 7.5 per cent above levels. In the report on Economic Outlook in 2018, it said the worst is behind for India’s GDP growth, orecasting a growth figure of 6.5 per cent for 2017-18 and 7.2 per cent in the year thereafter.