Lower GDP pushes Key Indian equity indices to open flat
Mumbai: Key Indian equity market indices opened flat on Friday after the Central Statistics Office (CSO) data showed that the GDP growth of the Indian economy slumped to 5.7 per cent during April-June.
The 30-scrip Sensitive Index (Sensex) was trading 5.10 points or 0.02 per cent lower during the early session.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading one point or 0.01 per cent lower at 9,916.90 points.
The BSE Sensex, which opened at 31,769.34 points, was trading at 31,725.39 points (at 9.18 a.m.) in the early session, lower 5.10 points or 0.02 per cent from Thursday's close at 31,730.49 points.
The Sensex touched a high of 31,801.80 points and a low of 31,724.67 points in the trade so far.
India's GDP growth for the first quarter of the current fiscal ended June slowed down to 5.7 per cent, from 6.1 per cent reported for the fourth quarter of 2016-17, official data showed on Thursday.
The GDP for Q1 stood at Rs 31.10 lakh crore, or a growth of 5.7 per cent, compared with 6.1 per cent in the fourth quarter of the last fiscal.
The drop in growth was even sharper compared to the like quarter a year ago when the country's GDP grew at 7.9 per cent.
--Inputs from IANS