Nifty flat ahead of GDP data

  • Reuters
  • Stock Market News
Nifty flat ahead of GDP data

BENGALURU, Nov 27 (Reuters) - Indian shares were flat on Friday ahead of the release of gross domestic product data that is likely to show the economy entered a recession in the September quarter, and in line with other Asian shares which were stalled near record highs.

The NSE Nifty 50 index .NSEI was up 0.10% at 13,000.10 by 0400 GMT, while the S&P BSE Sensex .BSESN was 0.02% higher at 44,270.98.

Both indexes were on course to end the month nearly 12% higher, powered by record inflows from foreign institutional investors in November. Indian markets are closed on Monday for a local holiday.

Auto stocks .NIFTYAUTO were up 1.41%, rising the most among 13 sectoral indexes. Construction firm Larsen & Toubro LART.NS was the top boost to the Nifty 50.

India's economic activity likely picked up in the quarter to September after a record contraction the previous quarter, data due around 1200 GMT is expected to show. Economists in a Reuters poll forecast GDP to shrink 8.8%, a contraction that would amount to a technical recession.

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  • Soumya Subhankar @Soumya Subhankar
    it is to contract by 10 % in Q2
    Like 0

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