Strong GDP Data Lifts Indian Markets Amid Global Uncertainties
Indian markets opened positively on Monday, bolstered by strong Q1 GDP figures, while mixed signals persist globally. The U.S. court declared Trump tariffs unconstitutional, adding complexity to investor outlook. Despite September's weak seasonality, markets reflect optimism, driven by GDP growth and resilient sectoral performance.
- Country:
- India
Indian stock markets saw an uplift on Monday as first quarter GDP numbers exceeded expectations, enhancing investor confidence. The Nifty 50 index opened at 24,490.70, marking an increase of 63.65 points or 0.26 percent. Meanwhile, the BSE Sensex started the day at 80,051.81, up by 242.16 points or 0.30 percent.
Market experts have attributed this positive shift to promising GDP data and a recent U.S. court ruling against Trump's tariffs. However, concerns loom with significant FPI outflows and mixed corporate earnings. Ajay Bagga conveyed his caution, noting the historically weak performance of markets in September despite the strong GDP numbers.
Sectoral performances were noticeably varied, with Nifty IT experiencing significant gains, while FMCG stocks lagged. The broader outlook remains uncertain as global dynamics, including a U.S. court decision to keep tariffs until mid-October, play out. The Indian technical landscape appears cautious as key support levels are closely watched.
(With inputs from agencies.)
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