Shanghai Composite, Hang Seng, Nikkei 225, and KOSDAQ were all trading with losses. SGX Nifty too was trading over 55 points lower during the early hours of trade on Wednesday.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended in the green, on Wednesday marking the tenth day of gains. S&P BSE Sensex surged 169 points while Nifty 50 moved closer to 12,000 mark. Bajaj Finserv and Bajaj Finance were the top index gainers, followed by ICICI Bank, IndusInd Bank, and Tata Steel. On the other hand, NTPC, ONGC, and Tech Mahindra were the top drags. Major banking stocks, that were trading with losses earlier in the day, recouped losses to end with gains. India VIX slipped over 2% to end at 20.21 levels.
The International Monetary Fund (IMF) has projected the Indian economy to contract by 10.3% this year, owing to the coronavirus pandemic. However, the IMF also said that India is likely to bounce back with an impressive 8.8% growth in 2021. The 8.8% growth rate would make India as the fastest growing emerging economy in the world. IMF’s prediction comes after the World Bank said India’s GDP is expected to contract 9.6%. The Reserve Bank of India has forecasted the GDP to shrink 9.5% this fiscal year.
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