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India’s GDP grows 7.2% in FY23; 6.1% in January-March quarter India's GDP growth rate soared to 7.2 percent in FY23, according to official data released by the Ministry of Statistics and Programme Implementation. This marks an impressive increase from the 5.3 percent growth rate recorded in FY22. The growth rate was even higher in the January-March quarter, coming in at 6.1 percent. This is a considerable improvement from the 4.4% growth rate recorded in the October-December quarter of FY22. The uptick in growth is being attributed to rising demand and investment, both from domestic and foreign sources. The government's fiscal stimulus initiatives have also helped spur growth in the economy. Overall, the GDP growth rate in FY23 is indicative of a positive trend in the economy. The government's efforts to boost demand and investment, as well as its fiscal stimulus initiatives, are expected to further support the economy and help it reach its growth target for the year The R...

Kotak Mahindra Bank's weighting in the MSCI Global Standard Index is expected to double from 1.38 percent to 2.68 percent, which could lead to inflows of $800 million. , according to Nuvama Research. The reshuffling exercise is scheduled for May 31. The removal of Adani companies from the MSCI Global Standard Index is likely to lead to a significant decline in the share prices of the affected companies. Furthermore, the decision could cause investors to become more wary of investing in Adani companies, leading to a further decrease in market capitalization. The Nuvama report explains that on May 31, 2023, Adani Total Gas and Adani Transmission will be deleted from the MSCI Index if the securities trade at the lower price limit for a cumulative duration of at least 5 minutes on the given day. Otherwise, MSCI will use the official closing prices, according to the MSCI Index Calculation methodology. This will be done to ensure the index remains accurate and up-to-date.  As per the Nuv...

Nifty today formed a bullish candle on the daily charts to give the highest daily close of the last 112 sessions. Now it has to hold above 18550 zones, for an up move towards 18750 and 18888 zones while on the downside support exists at 18550 and 18442 zones, said Chandan Taparia of Motilal Oswal. India VIX was down by 2.36% from 12.29 to 12.01 levels. Volatility was down thus giving some comfort to the bulls to buy at any small decline at record high index levels. Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones. The hourly momentum indicator has a negative crossover which points out that the consoli dation is still not over, and it could lead to range bound price action over the next few trading sessions. Stock market   experts said that after strong company results season, FIIs have gone bullish on Indian stocks as strong Q4 numbers indicate continuation of growth and demand in the natio...