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Home CURRENT AFFAIRS BUSINESS Stock Market Today: GIFT Nifty indicates a flat start; India GDP likely...

Stock Market Today: GIFT Nifty indicates a flat start; India GDP likely to grow at 6%

Dalal Street is expected to have a calm start to the week, as the GIFT Nifty on the NSE IX fell 16 points, or 0.08 percent, to 19,464.

Stock Market Today

Stock Market Today: GIFT Nifty on the NSE IX down 16 points, or 0.08 percent, to 19,464, indicating that Dalal Street will likely have a quiet start to the week. On the daily charts, the Nifty finished Monday 181 points higher, forming a decent bull candle with a small upper and lower shadow. A buy signal is shown by the daily momentum indicator’s positive crossover.

Rupee ended up weaker

The Australian dollar dipped ahead of a central bank interest rate announcement later in the day, but the dollar remained stable on Tuesday, retaining overnight gains as investors took a break from a risk surge. As rising crude oil prices offset the support from strong domestic equities, the rupee ended the day one paisa weaker at 83.21 against the US dollar.

Stock Market Today: GDP of India may grow 6%

The current fiscal year’s growth of India’s GDP is anticipated to range from 5.5 percent to nearly 6 percent, according to Jahangir Aziz, JP Morgan’s head of developing market economics. This is below than the 6.5 percent FY24 prediction issued by the Reserve Bank of India. India’s GDP is expected to grow by 6.3 percent in FY24, according to the World Bank, following a 7.2 percent expansion in FY23. As of October 3, the World Bank reported that the anticipated downturn is primarily the result of difficult external conditions and diminishing pent-up demand.

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