Team Blitz India
NEW DELHI: Indian stock indices traded firmly on December 1 morning, the last session before the weekend, after India reported more-than-expected GDP growth in the July-September quarter of the 2023-24 fiscal year.
Nifty tasted its all-time high at 20,263 points, 0.6 per cent higher than its previous session closing. Sensex was about 500 points lower than its all-time high at 67,435 points this morning.
The Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, remaining the fastest-growing major economy, data showed on November 30. India’s GDP growth for the April-June quarter grew 7.8 per cent.
“Sunil Gavaskar, the greatest opening batsman always took a fresh guard after reaching a milestone. It makes sense to take a fresh guard post market reaching all-time high,” said Nilesh Shah, MD Kotak Mahindra AMC.
“3G of growth (earnings likely to be in the early to mid-teens), governance (better than emerging market peers and comparable to developed world), and green (lowest per capita carbon emitter in the world) gives confidence that it is time to stay on the pitch and score more runs,” Shah added.
