On Wednesday, the Indian market has opened higher note tracking Asian market cues. At 10:15 am, the Sensex was trading at 27,050, up 150 points, and the Nifty was ruling at 8,340, up 52 points. Among broader markets, BSE Midcap rose at 0.64% and BSE Smallcap up at 0.59%. Tata Steel, ONGC, Dr Reddy's Labs, HDFC bank, Infosys and ICICI Bank are top gainers in the Sensex.
There is a mixed outlook on Indian economy, that the World Bank has cut India’s GDP to 7% from 7.6% in the current fiscal after considering the impact of demonetization.
Meantime, International rating agency Moody’s Investors maintained a positive outlook on India and stated that beyond the short-term negative impact on growth, demonetization has the potential to lift up government revenues and give some fiscal space to sustain growth, if required.
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