Indian indices closed higher on Monday with the Sensex ending the day above the 50,000 mark and the Nifty above 15,000 at market closing. Asian markets witnessed mixed close as cryptocurrencies climbed after carnage last week, as crypto mining businesses contemplated exiting China. All eyes will be on US inflation and personal consumption data this week.
Market closing: Benchmark Indian equity indices closed higher on Monday. The Sensex was at 50,651.90, up 111.42 points, or 0.22%, while the Nifty was at 15,197.70, up 22.40 points, or 0.15%. FMCG, metal top drags
Market closing
Benchmark Indian equity indices closed higher on Monday. The Sensex was at 50,651.90, up 111.42 points, or 0.22%, while the Nifty was at 15,197.70, up 22.40 points, or 0.15%. FMCG, metal were top drags. Among broader indices, the BSE midcap and smallcap closed 0.86% and 0.70% higher, respectively. Meanwhile, the Nifty micap 100 and smallcap 100 closed 0.67% and 1% higher, respectively.
SBI, L&T, Axis Bank, and 14 other stocks on the 30-share Sensex closed in green, while IndusInd Bank, Titan, Bajaj Finserv, and 10 other stocks closed in red.
Icra pegs Q4 GDP growth 2%; FY21 at 8.45%
Domestic rating agency Icra on Monday forecast a 2% uptick in growth during the March FY21 quarter, and 3% from the gross value-added perspective.
This would mean that the NSO projection of a double-dip contraction is avoided. The agency has placed the full-year contraction at 8.45%.
Its chief economist Aditi Nayar expects the annualised GDP growth at 2% in the March quarter, up from 0.40% in the December quarter. (PTI)