Feb 27, 2013, 12.44 PM | Source: Moneycontrol.com
At 12.14 PM, the Sensex was up 88.28 points or 0.46% at 19103.42, and the Nifty moved up 19.50 points or 0.34% at 5780.85.
The market has recovered from the low point of the day after the economic Survey pointed out that Indian economy is likely to grow at 6.1-6.7% in FY14. It hints at monetary easing that will pushpedal growth.
Bharti, ONGC, ICICI Bank, BHEL, Larsen and JP Associates were the top gainers on the indices. These stocks were up between 1.5-2.9 percent with Bharti seeing the biggest rise.
ALthough Economic Survey has shown concern on economic slowdown and current account deficit, it has pegged growth at 6.2 and 6.7 percent and believes inflation can be brought down to 6.2-6.6 percent in March. But Sajid Chinoy of JP Morgan finds it a tall expectation. Samiran Chakraborty of StanChart says there is no specific plan that will drive growth. Although the suirey hints at monetary easing, it may not be sizeable to kick-start capex cycle.