Share Bazaar News Today | Sensex, Nifty, Share Prices: Domestic stock markets began the day’s trade in the green. S&P BSE Sensex was above 49,900 while the nifty 50 index regained 15,000. Bank stocks were rallying with SBI, IndusInd Bank, ICICI Bank, Kotak Mahindra Bank, and HDFC Bank as top index gainers. All sectoral indices were trading with gains, Bank Nifty was up 1.11%. Broader markets were mirroring the upmove while the volatility index fell.
In the aftermath of the second wave of the covid-19 pandemic, gauging its impact on the economy and consumer sentiment, Swiss brokerage Credit Suisse has lowered its nominal GDP growth forecast by 150-300 bps to 13-14% but expects a stronger recovery in the second half as it sees the lockdowns having limited impact on tax collections. “Our macro strategy team expects the overall impact on the pandemic restrictions on GDP to be about 150 bps in base case scenario. Even if we assume a 300 bps impact if statewide restrictions prolonged, nominal GDP growth in FY22 can still be around 13-14 per cent,” Jitendra Gohil and Premal Kamdar, equity analysts at Credit Suisse Wealth Management India said in a note on Thursday.