Markets edge higher ahead of GDP data

Written by FE Online | Mumbai | Updated: Feb 28 2014, 17:19pm hrs
BSE SensexMarkets edge higher ahead of GDP data
Benchmark indices edged higher ahead of the GDP data due on Friday. The BSE barometer, the Sensex was trading 80.14 points or 0.38% higher at 21,067.13 points, while the NSE's Nifty was trading 20.15 points or 0.32% higher at 6,258.95 points at 10.50 am IST.

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.

India’s economy in the third quarter of the current fiscal is likely to grow by more than 5%, Prime Minister’s Economic Advisory Council chairman C Rangarajan said on Wednesday.

Among sectoral indices, the BSE Healthcare (1.72%), BSE Metal (1.06%) and BSE IT (0.81%) were the major gainers. Among individual stocks, Hindalco (3.61%), Dr Reddy's Laboratories (2.75%) and Tata Motors (3.35%) were among the major gainers on the 30-share Sensex.

Among Asian indices, the Nikkei (-1.08%), Hang Seng

(-0.15%), Kospi (-0.22%) and Straits Times (-0.17%) were trading in the red. On Thursday, US Fed chairperson Janet Yellen in her testimony before the US senate said that the Central bank is likely to continue with QE tapering.

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