Sharp deceleration in selling by foreign portfolio investors (FPIs) and gains in cyclical stocks supported the up move as investors chose to look past a weak GDP (gross domestic product) reading for the September quarter (Q2FY25).
After declining 494 points, or 0.6 per cent, in the opening trade, the Sensex managed to end the session at 80,248, with a gain of 445 points, or 0.6 per cent. The Nifty 50 index closed at 24,276, rising 145 points, or 0.6 per cent. The gains were broad-based, with almost all sectoral indices ending in the green.
The GDP data for Q2 released last week showed the Indian economy grew at the slowest pace in seven quarters. The GDP grew by 5.4 per cent in July-September year-on-year (Y-o-Y). It grew by 6.7 per cent in the previous quarter.
This story is from the December 03, 2024 edition of Business Standard.
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This story is from the December 03, 2024 edition of Business Standard.
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