Indian shares posted strong gains on Thursday, as falling oil prices and strong domestic macroeconomic data helped outweigh weak cues from global markets.
The Indian economy likely to grow at over 9.5 percent during 2021-22, the country’s largest lender State Bank of India said in its latest Ecowrap research report and projected inflation-adjusted gross domestic product (GDP), or real growth, to be nearly 10 percent.
The 30-share BSE Sensex surged as much as 776.50 points, or 1.35 percent, to close at 58,461.29, extending gains for the second day running and reaching a one-week high.
The broader NSE Nifty index settled 234.75 points, or 1.37 percent, higher at 17,401.65 amid gains in IT, financials and metal stocks.
Among the top gainers, Grasim, Sun Pharma, HDFC, Power Grid Corp, Tata Steel, Tech Mahindra and Adani Ports climbed 3-5 percent.
Global cues were tepid amid fears around the Omicron coronavirus variant and warnings about inflation from major central banks.
Market Analysis
Sensex Soars 777 Points; Nifty Tops 17,400
2021-12-02 11:22:59
