Mumbai: Robust GDP data for the December quarter allayed market fears as the Sensex on Wednesday rallied over 241 points to end at about a six-month high of 28,985 amid firm global cues. The Central Statistic Office yesterday showed that GDP expanded by 7% in the third quarter, belying all fears of the note ban derailing economic activity. The NSE Nifty also moved up 66.20 points, or 0.75%, to 8,945.80 after shuttling between 8,960.80 and 8,898.60. “A surprise growth of 7.1% in third quarter GDP data and no negative comments in Trump’s speech have given a renewed buying interest in the market. Better Chinese factory readings led to a higher closing in Asia and and a better opening in Europe.

Source: Mint March 01, 2017 04:15 UTC