Indian Markets Update
On Monday there will be GDP data of India for the quarter of October-December, according to economist it may be at 7.3%, data will come after market session, probably Indian markets will open gap down due to us market’s last closing of more than 3% down. if we talk about tata steel, yesterday it has come up due to short covering, which has maiden in last 7-8 sessions, stock is in down trend, and various brokerage house has cut there target up to 170 from 230. 7 new stocks are going to join F&O segment from 26 feb, these are indo count industries, pc jewelers, tata elxi, granules India, cummins, united spirit and KPIT technologies. lot size of these stock will be present at 25 feb.
infosys’s stock which is listed in NYSE has fallen -2.75% last night, and it looking down up $16.91-$16.77, cmp is $17.35. most of tech company has fallen more than 5% in US market in last trading session, Facebook Inc. FB, -5.81% Amazon Inc. AMZN, -6.36% Google parent Alphabet Inc. GOOGLE, -3.60% GOOG, -3.45% and Netflix Inc. NFLX, -7.71% —which are all heavily weighted constituents of the index.
The country is expected to grow by 7.6 percent in the October-December quarter of the current fiscal — the fastest pace of expansion in five quarters — India Ratings and Research. Growth may have ticked higher in third quarter by 7.6 per cent. The growth is likely to get support from a favorable base effect, as GDP in third quarter of last fiscal grew by 6.6 per cent. In current fiscal, Indian economy grew by 7 per cent in first quarter and 7.4 per cent in second quarter.
The official GDP data for the third quarter of the current fiscal is scheduled to be released on Monday.
The Indian economy is expected to grow between 7-7.5 per cent in the current fiscal. Last fiscal, it grew 7.2 per cent.