Indian Shares Open Higher On Q2 GDP Surprise
(RTTNews) - Indian shares opened on a positive note Monday after data showed the Indian economy grew at the fastest pace in six quarters during the three months to September, defying expectations for a modest slowdown.
GDP grew 8.2 percent year-on-year following a 7.8 percent expansion in the June quarter, according to preliminary data from the statistics ministry. Economists had forecast a slower growth of 7.3 percent. In same quarter of the previous year, growth was 5.6 percent.
The latest pace of growth was the strongest since the March quarter of 2024, when the economy grew 8.4 percent.
The benchmark BSE Sensex was up 384 points, or half a percent, at 86,090 in early trade, while the broader NSE Nifty index rose by 100 points, or 0.4 percent, to 26,303.
Among the top gainers, SBI, Eternal, Kotak Mahindra Bank and Adani Ports climbed 1-2 percent.
Lenskart Solutions rallied 3.6 percent after delivering robust second-quarter results.
NCC gained 1 percent after winning orders worth Rs. 2,792 crore in November. Tejas Networks soared 4.4 percent on winning a Rs. 85 crore order from the Ministry of Communications.
JK Tyre surged 3 percent after it set December 24 as the record date for allotting shares as part of its merger with Cavendish Industries.
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