Despite the negative sentiment in the global market, Nifty opened with a positive bias and touched a high of 10,781 .85 from its previous close of 10,767.65. Among today’s top gainers are Lupin, HCL Tech, Bajaj Finance, Dr. Reddy, and Tech Mahindra etc.
Sensex also followed in the footsteps of Nifty and has gained 0.42 percent approximately in the wee hours of the trading session.
Update: Government of India has initiated a committee of bankers to look at a possibility of setting up a ‘bad bank’ and other new mechanisms to help resolve stressed assets faster.
Update: CII reports says, India is expected to grow by 8 percent over the next couple of years amid strong administrative and fiscal prudence which has laid down.