Nifty, Sensex create history after GDP data releases

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New delhi date. 01 March 2024, Friday

The statistics of GDP growth (Indian GDP Growth) for the December quarter were issued by the central government on Thursday. Which is better than all the predictions made earlier. The Indian economy grew at a record pace of 8.4% in Q3. The effect of the fast pace of the economy is also being seen on the stock market. Today the stock market is witnessing a stormy boom. While BSE's Sensex is trading with a jump of 1000 points, on the other hand, NSE's Nifty has also jumped by 300 points.

Nifty and Sensex created history

NSE Nifty has created new records of 22,312.65 and for the first time Nifty has crossed 22,300. Nifty opened today at 22,048.30. The BSE Sensex also hit a new record and touched an all-time high of 73,590.58. It opened today at 72,606 and the intraday Sensex jumped over 1000 percent during the two-hour trade. At 11:30 am, the Sensex was trading at 73,526.51, up 1,026.21 points or 1.42 percent. The Sensex closed at 72,500.30 on the last trading day on Thursday.

Similar to the Sensex, the National Stock Exchange's Nifty (Nifty50) also rallied and rose 308.85 points or 1.40% to settle at 22,291.65. The Nifty opened trading at 22,048 on Friday, compared to the previous close of 21,982.80.

Shares of 29 out of 30 BSE companies were trading in the green. Talking about the biggest gainers in this, Tata Steel shares surged 4.68% to Rs. 147.50, while the stock of JSW Steel Limited rose 4.18% to Rs. was trading at 833.60. Apart from this, shares of Larsen and Toubro rose by 3.22 percent to Rs. 3,593.65 was reached.

Midcap companies performed well

Shares of midcap companies have also seen a sharp rise. Steel Authority of India rose 6.06%, Oil India Limited stock rose 5.01%, Vodafone Idea Share rose 4.03%. Apart from this, other stocks including Torrent Power, NIACL, Jindal Steel, BHEL are also seeing a rise of 3 to 4%.

The GDP figures announced on Thursday are being considered as the reason behind the record rise in the stock market. India has become the fastest growing economy in the world. The latest example of its bullishness is the India Q3 GDP figures. The figures released by the government on Thursday beat all estimates and the Indian economy grew at a growth rate of 8.4% in the December quarter.

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