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India Gdp News Highlights: Country On Track To Achieve World’S Fastest Growth This Year …

However what we see is that the government spending ties in quite well with the overall construction spending and that is where the majority of growth is also likely to come in the coming few quarters and years – where government is actually looking at both monetisation as well as spending a lot in terms of building high quality roads, improving the rail network.

I was expecting around 16 percent and what this suggests is that the second wave in terms of the pandemic was much worse than the first wave but the fact that there wasn’t a nationwide lockdown seems to have helped the economy alone.

The second learning from this is that the second wave was very virulent as far as the healthcare system is concerned but the economy was not that badly impacted.

The Indian economy has seen a sharp rebound from the onslaught of the COVID-19 pandemic, supported by high government spending, reform measures, monetary policy support, progressive unlocking along with the mega vaccination drive.

We also see a good pickup in industrial activity across all our clients from varied sectors and remain optimistic on a continuing upswing in the economy.

Having moved up by around 450 points in the last two sessions, there is a higher possibility of consolidation or minor profit booking from the highs in the short term.

In the last three trading sessions, the Nifty has rallied over 580 points as investors are placing bullish bets after worries of the US Fed’s decision on interest rate hikes dissipated.

However, day traders may take a cautious stance near the 17,200 resistance level.

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On an extended rally, the upside may continue further, which could lift the index up to 17,275.

Bulls are roaring in Indian markets and we saw big gains for the second day in a row in Nifty and Sensex where they both achieved a new milestone by giving a close above 17100/57500 respectively.

Good rainfall, ramping up of exports on the back of PLI and ChIna+1 policies, thrust on manufacturing , accelerated digitisation and huge VC flows into India’s start up ecosystem is contributing to the market euphoria.

However, over the past 1 month, USDINR has seen low volatility and at the same time, Rupee liquidity has ballooned to over 11 lakh crore.

Both Nifty & Sensex touched the mark of 17,000 & 57,500 making their new lifetime high.

A flat advance-decline ratio on such a day denotes traders flocking to large-caps and taking profits out of mid and smallcaps.

On the daily chart, the Nifty50 index has breached the psychological level of 17,000 with the increase in volume and showed a straight upside rally which points out strength in the counter.

The index has been trading above all the important key indicators, which adds positive strength further.

For the month Nifty rallied by close to 1,375 odd points registering a gain of around 8.75 percent out of which around 500 points were the gain in the last four days.

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