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Markets Afternoon, Economic Survey Forecast

Stock-rise-GDP

Indian stock benchmark indices traded from the positive to negative note in the afternoon session Friday as sentiment lessened after the Economic Survey-2020 ` India’s Gross Domestic Product (GDP) growth in the range of 6-pc to 6.5-pc in the FY 2020-21. Further, Investors also look forward to the Union Budget rod map that will be presented tomorrow.

At 2.55 pm, the Sensex and the Nifty fell 23 points each 40,890 and 12011 levels respectively.

As per the economic survey doc, the Indian economic growth is expected to lift up in the second half of FY20 and a strong response could be seen in FY21 on a low base.

Kotak Mahindra Bank, SBI, IndusInd bank Bajaj Auto and Bharti Airtel continue gains in the NIfty50, while ONGC, Tata Motors, Powergrid, Coal India extend losses in the Nifty.

Among sectors, Nifty Metals, Nifty IT, Auto, Pharma fell the most while Nifty Bank, Financial, and Realty traded in the green, after the GDP forecast. Get the  latest stock future tips and updated  Stock tips for tomorrow  based on GDP growth forecast here.

Shares in Indian Oil Corp shed 3.12 percent in spite of the Oil major posted a 315-pc climb in its Q3 standalone net profit at Rs2,339-crore.

FMCG major Dabur India added 3.67 percent after the company posted strong consol net profit climbing 8.9 percent at Rs 400 crore. Meantime, Credit-Suisse has given an OUTPERFORM rating on Dabur’s stock and has raised the price of the target to Rs540 from Rs520-apiece.