Market View by Mr. Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund - January 08, 2019

Stock markets opened the day with a negative bias but soon witnessed buying interest at lower levels to trade in positive terrain. After trading near the flat line in afternoon trade, key benchmark indices firmed up to finally close the day with gains of over 0.20%. On the economic front, the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation released the First Advance Estimates of National Income at Constant (2011-12) and Current Prices, for the financial year 2018-19 which somewhat boosted investor sentiment. The advance estimates show that India's GDP would grow 7.2% in 2018-2019, accelerating from 6.7% growth in 2017-18. Real gross value added (GVA), i.e, GVA at Basic Constant Prices (2011-12) is anticipated to increase 7.0% in 2018-19 up from 6.5% growth in 2017-18. On the sectoral front, the PSU banking and healthcare indices traded with sharp gains while the media index witnessed sharp losses.

Source : Equity Bulls

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