Indian Equities Back in the Green on Improved GDP Show
Indian equities rebounded strongly on Monday, fueled by encouraging GDP data after a three-day losing streak. The NSE Nifty closed up 0.8% and the BSE Sensex rose 0.7%. However, concerns remain about potential US tariffs, a weaker rupee, and modest earnings growth, which could limit further market gains.
GDP Data: A Boost to Investor Sentiment
The improved GDP data has boosted investor sentiment, with domestic investors providing support to the market. However, foreign investors continued selling, with global investors dumping shares worth ₹41,908 crore in August. In contrast, their domestic counterparts bought shares worth ₹4,345 crore.
Market Outlook: Challenges Ahead
Despite the rebound, the market outlook remains challenging. Concerns over US tariffs, a weaker rupee, and modest earnings growth could limit further market gains. Additionally, the ongoing trade tensions between the US and China continue to weigh on investor sentiment.
Top Gainers and Losers
The top gainers on the Nifty included SBI, Axis Bank, and HDFC Bank, while the top losers included Infosys, Wipro, and NTPC.
Expert Advice
According to experts, the market is expected to remain volatile in the short term, with investors advised to remain cautious. However, the long-term outlook remains positive, with the Indian economy expected to grow at a steady pace.
For the latest updates on the Indian stock market, including Nifty and Sensex moves, click here. You can also subscribe to our ET Prime and read the Economic Times ePaper Online for in-depth analysis and expert advice.