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- 'Manipur Super 50' scores big in providing opportunities to the state's youth
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- Rajya Sainik Board-Kolkata empowers deceased veteran's daughter with mobility
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- 'Democracy is crying', Mamata Banerjee sharpens attack against HC ruling in school jobs case
- Vet student 'suicide': Kerala HC dismisses suspended VC's petition challenging action against him
- Credit card data of 17K ICICI Bank users exposed; bank blocks cards, assures compensation
- Eknath Shinde compares Uddhav Thackeray's change in political stance with 'chameleon changing colours'
Markets close with gains; Sensex rose 454 points & Nifty ends above 17,500
Markets close with gains; Sensex rose 454 points & Nifty ends above 17,500
On the last day of the November F&O series, benchmark indices ended with robust gains.
On the last day of the November F&O series, benchmark indices ended with robust gains. The S&P BSE Sensex jumped 454.10 points, or 0.78 per cent, to 58,795.09. The Nifty 50 index gained 121.20 points, or 0.70 per cent, to 17,536.25. However, Nifty Bank close in red with a loss of 77.20 points, or 0.21 per cent, at 37,364.75.
In the broader markets at the BSE, the S&P BSE MidCap index and SmallCap index rose 0.69 per cent and 0.87 per cent, respectively.
The market breadth was strong. On the BSE, 2,133 shares rose and 1,158 shares fell. On the Nifty 50 index at the NSE, 25 shares advanced and 25 shares declined. The top five gainers on Nifty were Reliance (up 6.36 per cent), Divi's Laboratories (up 2.40 per cent), ITC (up 1.78 per cent), Infosys (up 1.56 per cent) and Tata Consumer (up 1.34 per cent). The top five losers were Maruti (down 1.28 per cent), Britannia (down 1.20 per cent), IndusInd Bank (down 1.14 per cent), IOC (down 1.14 per cent) and Hindustan Unilever (1.11 per cent).
Economy
A report issued by economists at a brokerage house, which was released on Wednesday, said: "India's GDP will show a 7.8 per cent expansion on a year-on-year basis for the September 2021 quarter. Real GDP will grow 9.4 per cent in FY22 and decelerate to 7.5 per cent for FY23 as the base effects result in the higher growth in the ongoing fiscal wear-off." In FY21, the GDP had contracted 7.3 per cent due to the pandemic. For FY22, the RBI expects GDP to clock growth of 9.5 per cent, which will slow to 7.8 per cent in FY23. The GDP had expanded over 20 per cent for the first quarter on the lower base. The official data for the second quarter is set to be released on November 30, 2021.
The meetings from the latest Fed meeting, released on Wednesday, showed that the central bankers were ready to accelerate the timetable for slowing asset purchases and raising the benchmark funds rate if inflation remains high. The US markets will be closed for the Thanksgiving holiday on Thursday. The stock market closes early on Friday. The Bank of Korea raised its policy rate by 25 basis points to 1 per cent, a move that was largely expected. The prices Japanese companies charge each other for services rose 1.0 per cent in October from a year earlier, their eighth straight month of gains.
