Trade Nivesh | Domestic stock markets started Tuesday's session on a higher note, breaking a four-day fall, a day after credit ratings major Fitch retained India's economic growth forecast for the next financial year. The S&P BSE Sensex index rose as much as 164.17 points to 39,124.96 in early trade, and the NSE Nifty moved to 11,716.55, up 44.4 points from the previous close. Buying in financial, auto and metal stocks supported the markets.
At 9:29 am, the Sensex traded 78.96 points - or 0.20 per cent - higher at 39,039.75, while the Nifty was up 20.65 points - or 0.18 per cent - at 11,692.80.
Top gainers on the 50-scrip Nifty index at the time were IndusInd Bank, Vedanta, Power Grid, Cipla, HCL Tech and Bajaj Auto, trading with advances of between 0.70 per cent and 1.53 per cent.
Infosys, ICICI Bank and Kotak Mahindra Bank were the top contributors to the advances in Sensex.
Fitch lowered India's growth forecast to 6.6 per cent for the current fiscal year from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year. In its latest Global Economic Outlook, the global ratings agency retained its GDP growth forecast for the next fiscal (2020-21) at 7.1 per cent and 7.0 per cent for 2021-22.
Official data last month showed economic growth in the country hit a five-year low of 6.8 per cent in 2018-19.
In the global markets, investor caution ahead of the Federal Reserve's interest rate meeting capped Asian stocks while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 per cent. The Shanghai Composite Index lost 0.25 per cent, Hong Kong's Hang Seng rose 0.15 per cent and Japan's Nikkei dipped 0.3 per cent.
At 9:29 am, the Sensex traded 78.96 points - or 0.20 per cent - higher at 39,039.75, while the Nifty was up 20.65 points - or 0.18 per cent - at 11,692.80.
Top gainers on the 50-scrip Nifty index at the time were IndusInd Bank, Vedanta, Power Grid, Cipla, HCL Tech and Bajaj Auto, trading with advances of between 0.70 per cent and 1.53 per cent.
Infosys, ICICI Bank and Kotak Mahindra Bank were the top contributors to the advances in Sensex.
Fitch lowered India's growth forecast to 6.6 per cent for the current fiscal year from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year. In its latest Global Economic Outlook, the global ratings agency retained its GDP growth forecast for the next fiscal (2020-21) at 7.1 per cent and 7.0 per cent for 2021-22.
Official data last month showed economic growth in the country hit a five-year low of 6.8 per cent in 2018-19.
In the global markets, investor caution ahead of the Federal Reserve's interest rate meeting capped Asian stocks while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 per cent. The Shanghai Composite Index lost 0.25 per cent, Hong Kong's Hang Seng rose 0.15 per cent and Japan's Nikkei dipped 0.3 per cent.
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