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Indian Stock Market Opens Higher on Strong GDP Growth Data

Rajeshwari R by Rajeshwari R
March 3, 2025
in Business
Reading Time: 3 mins read
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Indian Stock Market Opens Higher on Strong GDP Growth Data

Indian Stock Market Opens Higher on Strong GDP Growth Data

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Indian Stock Markets Open Higher Amid Positive Economic Indicators

The Indian stock markets opened higher on Monday, buoyed by key economic indicators such as GDP growth and robust GST collections, which met market expectations. Early trading saw positive momentum, with notable buying in the auto and IT sectors.

At 9:39 am, the Sensex was up by 133.58 points or 0.18%, trading at 73,331.68. Meanwhile, the Nifty gained 46.25 points or 0.21%, reaching 22,170.95. The Nifty Bank index saw a modest rise of 35.50 points or 0.07%, reaching 48,380.20, while the Nifty Midcap 100 index rose by 32.35 points or 0.07%, settling at 47,947.55. The Nifty Smallcap 100 index gained 32.20 points or 0.22%, trading at 14,732.40.

Experts have pointed out that India’s strong growth momentum is reflected in the recent economic data. The GDP growth for Q3 accelerated to 6.2% from 5.6% in Q2, signaling a cyclical recovery. Analysts anticipate that the economy could see above 7% growth in Q4, which bodes well for the stock market outlook.

Market watchers have identified key levels for Nifty, with resistance at 22,300. A breakout above this level could see the index test 22,530 and 22,670. On the downside, immediate support is at 21,929, a critical level for monthly trends. A breakdown below this support could push the index down to 21,718, signaling a cautious outlook if critical levels fail to hold.

In terms of sectoral performance, the Sensex pack saw notable gains in stocks like UltraTech Cement, M&M, Infosys, Zomato, L&T, Adani Ports, PowerGrid, ICICI Bank, TCS, Tata Steel, HDFC Bank, and Bharti Airtel. On the flip side, IndusInd Bank, Bajaj Finserv, NTPC, Axis Bank, and Kotak Mahindra Bank were among the top losers.

In the global markets, the Dow Jones rose by 1.39% to close at 43,840.91 on Friday, while the S&P 500 climbed 1.59% to 5,954.50. The Nasdaq also gained 1.63%, closing at 18,847.28. Among the Asian markets, only Bangkok was trading in the red, while China, Japan, Jakarta, and Hong Kong were all in positive territory.

Foreign institutional investors (FIIs) continued their selling streak for the seventh consecutive day, offloading equities worth Rs 11,639.02 crore on February 28. However, domestic institutional investors (DIIs) provided support, purchasing equities worth Rs 12,308.63 crore on the same day.

As the markets open higher today, attention will be on how the global and domestic factors continue to shape the trading outlook in the coming weeks.

Tags: Indian Stock MarketsNiftySensexTOP

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