PrashantNews
The Indian stock market on Friday gave thumbs up to the Economic Survey’s forecast of stable GDP growth in India as it climbed 740 points with most of the stocks like L&T and NestleInd registering 4 percent jump.
Tata Steel, Maruti, Titan and a host of other heavyweights made handsome gains as the market ignored Congress leader and former finance minister P Chidambaram’s claim of a slowdown in the Indian economy.
In the broader markets too, the BSE Midcap index was ahead by 1.89 per cent, and the BSE Smallcap index was higher by 2.11 per cent by close ahead of the budget.
According to the survey, India’s FY26 GDP growth is expected to be in the range of 6.3-6.8 per cent amid global uncertainty.
The Economic Survey however flagged risks saying, “Elevated valuations and optimistic market sentiments in the US raise the likelihood of a meaningful market correction in 2025. Should such a correction occur, it could have a cascading effect on India, especially given the increased participation of young, relatively new retail investors.”