Expectations of healthy quarterly results, coupled with broadly positive global cues lifted the key Indian equity index — NSE Nifty — above the 10,000-points mark during early-morning trade session on Tuesday.
This is the first time that the trading in Nifty has crossed 10K points mark.
The index breached the 10,000-points level mark during the day’s early trade session at 9.15 AM just after the pre-open session which lasted for 15 minutes.
Earlier on Monday, taking an account of the global economic recovery remaining on track on the back of better performing emerging economies, International Monetary Fund (IMF) relaied India’s growth to pick up further in 2017 and 2018.
“Growth in India is forecast to pick up further in 2017 and 2018, in line with the April 2017 forecast,” the IMF said in its latest World Economic Outlook (WEO) report on Monday.
“Pick-up in global growth anticipated in the April World Economic Outlook remains on track,” the IMF report said further.
IMF projects India to grow at 7.7 % in 2018, estimating a significant increase against the backdrop of ongoing economic reforms. (With Agency Inputs)