Sensex Opens at Record 31332, Nifty Hits Lifetime High

Marco Green
June 2, 2017

India's GDP grew just 6.1 percent from a year earlier in the March quarter, substantially down from a provisional 7 percent growth in the previous quarter, mirroring the impact of demonetization on key sectors including construction and financial services, data released on Wednesday evening showed.

"Market may consolidate as a slow pace in economic growth at 6.1 percent in Q4-FY17 and a slip in April eight core sector growth to 2.5 percent has dampened investor sentiment".

At 9.35 am, the BSE Sensex was trading at 31,293.54, up 155.95 points (0.50%) while the Nifty50 was ruling at 9,662.45, 46.35 points higher (0.48%). Japan's Nikkei rallied 1.6 per cent, Taiwan Weighted was up 0.5 per cent and South Korea's KOSPI jumped 0.7 per cent.

European markets were higher as investors eyed oil prices and next week's United Kingdom elections.

The MSCI ACWI, an index of 46 stock markets in the world, hit a record high, having gained 0.5 percent so far this week.

Back home, the S&P BSE Mid-Cap index provisionally rose 0.48 per cent, while the Small-Cap index advanced 1.02 per cent.

All the sectoral indices, led by healthcare, metal, auto, teck and oil & gas were trading in the positive zone with gains up to 0.86%.

In the auto space, shares of country's largest two- wheeler maker Hero MotoCorp, emerged as the top gainer among Sesnex constituents by climbing 2.82 per cent to Rs 3,840 after the company posted 8.7 per cent increase in sales in May.

The US Dow Jones Industrial Average ended 0.10 per cent down in yesterday's trade.

Smart movers included Adani Ports which gained 3.20 percent, HUL 2.68 percent, L&T 1.82 percent, Sun Pharma 1.42 percent, ITC 0.87 percent, Wipro 0.86 percent, HDFC 0.79 percent and Coal India 0.68 percent.

Other reports by Click Lancashire

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