March 02, 2024 / 08:14 AM IST
Market on Friday
Indian equity benchmarks the Sensex and the Nifty hit fresh record highs on March 1 on better-than-expected GDP data, improved auto sales number and in-line US Inflation figures, keeping hopes of a rate cut alive.
The latest quarterly GDP growth rate is the highest in six quarters, grew 8.4 percent in the December quarter, data released by the Ministry of Statistics and Programme Implementation on February 29. Last time India’s economy grew at a faster rate was in the first quarter of 2022-23, when it grew by 13.1 percent.
The Nifty started March series on a positive note and extended the gains as the day progressed, hitting a record high by crossing 22,300 for the first time.
At close, the Sensex was up 1,245.05 points, or 1.72 percent, at 73,745.35, and the Nifty was up 356.00 points, or 1.62 percent, at 22,338.80. Their best closing, so far.
