INSUBCONTINENT EXCLUSIVE:
Boosted by a late-session surge, the BSE
Sensex on Thursday soared 416 points to close at 35,322
GDP data for the January-March quarter will be released later today
National Stock Exchange (NSE) benchmark index Nifty settled at 10,736, up 121 points
Strong buying was witnessed in banking as well as energy stocks
Thirty-four stocks on the 50-scrip Nifty index finished in the positive zone
Top gainers on the index were HDFC Bank, Adani Ports, IndusInd Bank and Tech Mahindra, ending with hefty gains of around 3-5 per cent
each.The government is due to release the GDP growth data at 5:30 pm.India likely retained its position as world's fastest growing major
economy in the January-March quarter, surpassing China's growth of 6.8 per cent
The median in a Reuters poll on the latest quarter's annual growth was 7.3 per cent, the best pace since July-September 2016, the quarter
before the government unexpectedly scrapped high-value currency notes
Forecasts for January-March ranged from 6.9 to 7.7 per cent.Equities in other Asian markets bounced back from a two-month trough after
worries about a political crisis in Italy waned, while expectations that the domestic economy likely gained momentum in the first three
Wednesday to its weakest since early April.Global ratings agency Moody's Investors Service had on Wednesday cut India's GDP growth forecast
to 7.3 per cent in 2018, from its previous forecast of 7.5 per cent, citing higher oil prices and tighter financial conditions
The agency, however, kept growth expectation for 2019 remains unchanged at 7.5 per cent.Shares in Reliance Communications (RCom) rose 7 per
cent, a day after the telecom said it expected to complete its asset sale to Reliance Jio Infocomm and Canada's Brookfield in the coming
