Nifty conquers 22,300,Sensex rallies 1,000 points on strong GDP print

 

Closing Bell| Nifty conquers 22,300,Sensex rallies 1,000 points on strong GDP print| Banks shine

The biggest Nifty gainers were Tata Steel, L&T, JSW Steel, Titan Company and IndusInd Bank, while losers were Dr. Reddy's Laboratories, Sun Pharma, HCL Technologies, Infosys and Britannia Industries

Blowout Q3 GDP data sparks a sharp rally this Friday. Nifty hits new life high of 22,312 in intra-day trade. Mid & smallcaps buoyant but underperforming benchmarks. Breadth strong; NSE advance-decline ratio at 2:1. Catch Nandita Khemka as she discusses stocks on her radar including metals, banks, Hindalco among others

Indian equity benchmarks the Sensex and the Nifty hit fresh record highs on March 1 on better-than-expected GDP data, improved auto sales number and in-line US Inflation figures, keeping hopes of a rate cut alive

India's gross domestic product (GDP) grew 8.4 percent in the December quarter, data released by the Ministry of Statistics and Programme Implementation on February 29.

The latest quarterly GDP growth rate is the highest in six quarters. Last time India's economy grew at a faster rate was in the first quarter of 2022-23, when it grew by 13.1 percent.

At close, the Sensex was up 1,245.05 points, or 1.72 percent, at 73,745.35, and the Nifty was up 356.00 points, or 1.62 percent, at 22,338.80. Their best closing, so far.

The Nifty started March series on a positive note and extended the gains as the day progressed, hitting a record high by crossing 22,300 for the first time.

BIGGEST GAINER	PRICES	CHANGE	CHANGE%
Tata Steel	149.95	9.10	+6.46%

BIGGEST LOSER	PRICES	CHANGE	CHANGE%
Dr Reddys Labs	6,193.55	-230.70	-3.59%

BEST SECTOR	PRICES	CHANGE	CHANGE%
Nifty Metal	8208.50	286.60	+3.62%

WORST SECTOR	PRICES	CHANGE	CHANGE%
Nifty Pharma	18822.30	-180.90	-0.95%

Source: Money Control