Markets trade lower post GDP numbers; HDFC gains

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 Markets trade lower post GDP numbers; HDFC gains
Markets were marginally lower post the GDP numbers with the Sensex down 44 points and the Nifty down 24 points at 5290 points at 12.20 PM IST. The Q1 2013 GDP growth rates came in at 5.5%., slightly higher than market expectations.

Among the shares that lost ground in trade today were Coal India, which shed more than 2%, while NTPC and TCS were lower by 1%. IDFC and Hindustan Unilever lost more than 2% each.

Banks, which have exhibited volatility over the last few trading sessions were trading higher with SBI gaining 1% and HDFC Bank gaining 0.45% over Thursday's close. Steel stocks were marginally lower with Jindal Steel, Tata Steel, Hindalco and Sesa Goa trading lower.

Nifty stocks that jumped smartly today were HDFC and Bharti Airtel. Reliance Industries was trading marginally in the red.

European markets were trading flat, with UK's FTSE and French CAC marginally down, while The German DAX was marginally up.

With the GDP figures now behind, Indian markets like global peers would look to hints from Ben Bernanke, Federal Reserve Chairman for another round of quantitative easing. The Chairman is expected to speak today at Jackson Hole at 7.30 pm IST today.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Friday, August 31, 2012, 12:37 [IST]
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