GDP growth grew at 6.3 percent in quarter-ended September, higher than a 13 quarter low of April-June’s 5.7 percent.
The good news is that Nifty is back above 10500 while Sensex is trading close to Mount 34K. But, rising crude oil price could pose as a risk for D-Street which is already at $68/bbl. All eyes would be on FY18 GDP estimates which will be out later today.
The estimate is crucial as the finance ministry prepares Budget projections for the next financial year based on the statistics office data for 2017-18.
GDP growth grew at 6.3 percent in quarter-ended September, higher than a 13 quarter low of April-June’s 5.7 percent.Nifty on strong foot investors are advised to stay long with a stop below 10400 on closing basis.
For more, watch the Markets@Moneycontrol show. Moneycontrol analyst Shishir Asthana speaks to Anchal Pathak about the markets trends to look out for today.