BSE Sensex and Nifty started trading in green in the opening session on Friday. The stock market indices stepped up as nifty 50 regained 15,000 and Sensex was trading above 49,900. The top index gainers for the day are SBI, IndusInd Bank, ICICI Bank, Kotak Mahindra Bank and HDFC Bank.
Nearly all the sectoral indices were trading high and Bank Nifty shifted to 1.11 per cent. In the morning session Dollar was headed to a weekly loss as the traders shook off the taper talk.
Meanwhile, Wall Street put an end to the 3 days losing streak after technology stocks rose higher. Amidst the second wave of the prevalent coronavirus pandemic, Credit Suisse had to lower its GDP growth forecast to 13-14 per cent. However, the recovery is expected to get pumped as the lockdown has recorded a limited effect on tax collections.
On Thursday Jitendra Gohil and Premal Kamdar, said, “Our macro strategy team expects the overall impact on the pandemic restrictions on GDP to be about 150 bps in base case scenario. Even if we assume a 300 bps impact if statewide restrictions prolonged, nominal GDP growth in FY22 can still be around 13-14 per cent.”