Benchmark indices ended higher after a flat opening on Wednesday ahead of the GDP data due on Friday. The BSE Sensex ended 134.52 points or 0.65% higher at 20,986.99 points, while the NSE Nifty ended 38.75 points or 0.62% higher at 6,238.80 points.
Experts expect India's GDP to improve, going ahead. "After reviewing various growth indicators, we think the headwinds buffeting India’s economy might be easing at the margin, as some of the bottlenecks in key industries are being cleared. While this may not be a conclusive signal of stronger activity, we think these improvements could play a catalytic role in facilitating a recovery in growth in FY 14-15," Barclays said in a recent research note.
Among sectoral indices, the BSE Bankex (0.56%), BSE Capital Goods (0.94%) and BSE FMCG (0.99%) were the major gainers. Among individual stocks, * GAIL (2.97%), ITC Ltd (2.07%) and * Mahindra & Mahindra (2%) were among the major gainers on the 30-share Sensex. Shares of Dr Reddys Laboratories touched lifetime high of Rs 2,845 after the company said it has launched Sumatriptan Injection USP in US.
Asian indices showed a mixed trend. The Nikkei (-0.54%), the Straits Times (-0.5%) and the Jakarta Composite (-0.97%) ended in the red. The Hang Seng (0.54%), Kospi (0.30%) and Taiwan Taiex (0.29%) ended higher. Meanwhile, European markets were under pressure. FTSE (-0.36%), DAX (-0.19%) and CAC (-0.36%) were trading in the red at 4.00pm IST.
Meanwhile, American home sales data are due later on Wednesday and US Fed chairperson Janet Yellen would be testifying on Thursday on the monetary policy.