The World Bank yesterday sharply lowered its forecast for India’s economic growth to 4.7 per cent from 6.1 per cent for the current fiscal year, citing a sharp slowdown in manufacturing and investment as well as negative business confidence.
The BSE-30 share index, Sensex, resumed higher at 20,579.56 and hovered in a range of 20,605.93 and 20,471.25 before quoting at 20,568.35 points (1030 hours).
It showed a gain of 20.73 points or 0.10 per cent from its last close.
The NSE 50-share index Nifty also moved up by 8.60 points, or 0.14 per cent, to 6,097.65 at 1030 hours.
Major gainers were – ONGC (2.62 pct), Bajaj Auto (2.16 pct), Reliance Ind (1.74 pct), Bharti Airtel (1.68 pct), HUL (1.58 pct) and ITC (1.56 pct).
However, Tata Motors fell by 2.47 pct, TCS 2.36 pct, L&T 1.30 pct, ICICI bank 0.72 pct and HDFC Bank 0.25 pct.
Markets were closed yesterday on account of Eid.
Foreign Institutional Investors (FIIs) on Tuesday bought shares worth a net Rs 1,136.23 crore, as per provisional data from stock exchanges.
Asian stocks rose as investors heaved a sigh of relief after the US lawmakers yesterday voted to reopen the US government and raise the nation’s debt ceiling.
Key benchmark indices in China, Hong Kong, Indonesia, South Korea, Japan, Hong Kong and Taiwan rose between 0.2 and 1.17 per cent.
US stocks rose yesterday after US lawmakers came to an apparent deal to lift the debt ceiling and reopen government operations.