Sensex, Nifty Surge In Early Trading Amid Strong GDP Statistics And Influx Of Foreign Funds

Equity benchmark indexes the Sensex and Nifty surged in early trade on Friday, boosted by strong GDP figures and significant foreign capital inflows.

In addition, a rise in global markets boosted the equities markets’ strong momentum.

The 30-share BSE Sensex climbed 417.77 points to 72,918.07 in early trading. The Nifty jumped 142.85 points to 22,125.65.

Tata Steel, Tata Motors, JSW Steel, Mahindra & Mahindra, Larsen & Toubro, Power Grid, IndusInd Bank, Maruti, NTPC, and ICICI Bank were among the Sensex’s top gainers.

The laggards were HCL Technologies, Infosys, Hindustan Unilever, and Asian Paints.

In the final three months of 2023, India’s GDP grew at a faster-than-expected rate of 8.4 percent, the strongest pace in a year and a half.

According to data provided by the National Statistical Office (NSO) on Thursday, the growth rate in October-December was greater than 7.6 percent in the preceding three years, contributing to a 7.6 percent estimate for the current fiscal year (April 2023 to March 2024).

Brent crude fell 0.07 percent to $83.62 a barrel.

In Asian markets, Tokyo, Shanghai, and Hong Kong all saw increases in their stock prices.

On Thursday, the US markets ended in the green.

According to the exchange data, FIIs acquired equities worth Rs 3,568.11 crore on Thursday.

On Thursday, the BSE benchmark advanced 195.42 points, or 0.27 percent, to 72,500.30, while the Nifty went up 31.65 points, or 0.14 percent, to 21,982.80.

Also read: Sensex And Nifty Close Higher Amid Turbulent Trading