Key benchmark indices rose more than 1 percent to a record high, Nifty rose above 8,600 today, triggered due to steep slide in global crude oil prices last night. The Sensex also jumped 1.34 percent to a life high of 2,8822.37, CNX Nifty finally shut shop at 8588 up by 94 points (1.11%). Bank stocks surged on optimism falling oil prices will slow inflation and create room for the Reserve Bank of India (RBI) to cut interest rates.
India will release the July-September economic growth data later in the day, which probably slowed to 5.1 percent from a year ago, a poll showed. The Reserve Bank of India is due to hold its quarterly policy review on Dec. 2.The market breadth indicating the overall health of the market was positive in Nifty50 stocks, the advance to decline stood at 32 advances to 18 declines.
India will release the July-September economic growth data later in the day, which probably slowed to 5.1 percent from a year ago, a poll showed. The Reserve Bank of India is due to hold its quarterly policy review on Dec. 2.The market breadth indicating the overall health of the market was positive in Nifty50 stocks, the advance to decline stood at 32 advances to 18 declines.
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