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Jul 30th
| Record increase in industrial output, growth positive |
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| Tuesday, 16 February 2010 | |
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Industrial output grew at its fastest year-on-year pace in almost two decades at 16.8 per cent in December 2009, showing strong recovery of economy. At the same time while the statistical arm of the government, the Central Statistical Organisation (CSO) has estimated India's economy will grow by 7.2 per cent in the current fiscal, Finance Minister Pranab Mukherjee is optimistic of India's GDP growth to be at 7.75 per cent by the end of March.
It seems like the Indian market has finally recovered from the Greek shock and is ready for a possible pre-budget rally amid growing confidence in the Indian economy.
On Monday, the NSE Nifty almost went on to hit its 200-Day moving average on escalating concerns over the debt problems in a few European nations. While the BSE Sensex ended at 16,152 and the Nifty shut shop at 4,827 adding 2.3 per cent each during the week. |
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