D-Street bets on strong Q1 GDP growth and Wipro surge, Sensex up 100 points

Banks are trading flat, pharma and IT the lead gainers, Metals too in the green


It’s a good start on this Monday morning on D-Street as investors are betting on positive GDP data for the June quarter of this fiscal. The figure rose to 8.2 percent in Q1 of FY19.

The Sensex is up 149.60 points or 0.39% at 38794.67, while the Nifty is up 36.50 points or 0.31% at 11717.00. The market breadth is positive as 398 shares advanced, against a decline of 112 shares, while 36 shares were unchanged.

Among sectors, banks are trading flat, while pharmaceuticals and IT are the lead gainers among other indices. Metals and infrastructure are also in the green. The Nifty auto is trading higher on the back of auto sales data for August. In the broader markets, the Nifty Midcap index is up over quarter of a percent.

The Indian economy grew 8.2 percent in April-June this year, the highest in two years, amid signs that households are buying more and companies are adding capacities, shrugging off the disorderly effects of the twin shocks of demonetisation and the goods and services tax (GST).

Shares of Wipro are higher by 6 percent after it signed its biggest deal.

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