{"id":25311,"date":"2022-08-30T10:38:14","date_gmt":"2022-08-30T10:38:14","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/08\/30\/indian-shares-soar-ahead-of-gdp-data\/"},"modified":"2022-08-30T10:38:14","modified_gmt":"2022-08-30T10:38:14","slug":"indian-shares-soar-ahead-of-gdp-data","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/08\/30\/indian-shares-soar-ahead-of-gdp-data\/","title":{"rendered":"Indian Shares Soar Ahead Of GDP Data"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Indian shares soared on Tuesday, reversing the meltdown in the previous session, following Fed Chair Jerome Powell&#8217;s hawkish speech in Jackson Hole.<\/p>\n<p>The benchmark S&amp;P BSE Sensex jumped 1,564.45 points, or 2.70 percent, to 59,537.07 while the broader NSE Nifty index settled at 17,759.30, up 446.40 points, or 2.58 percent, from its previous close. <\/p>\n<p>Short covering as well as bargain hunting in beaten-down shares helped offer some support as investors awaited GDP data for the June quarter due out later in the day.<\/p>\n<p>According to Barclays, India&#8217;s GDP growth accelerated to 16 percent year-on-year in Q1FY23.<\/p>\n<p>A rebound in Asian and European <span class=\"landLinks\">markets<\/span> coupled with a sharp fall in oil prices in European trade also boosted sentiment ahead of Wednesday&#8217;s Ganesh Chaturthi holiday.<\/p>\n<p>Financials topped the gainers list amid expectations that they would benefit from rising interest rates. <\/p>\n<p>ICICI Bank, IndusInd Bank, Bajaj Finance and Bajaj FinServ rallied 4-5 percent.<\/p>\n<p>IT stocks rebounded from the previous session&#8217;s losses, with Tech Mahindra surging 3.9 percent. There were no losers in the Nifty pack. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Indian Shares Soar Ahead Of GDP Data<\/a><br \/>\n<br \/>2022-08-30 10:38:14<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian shares soared on Tuesday, reversing the meltdown in the previous session, following Fed Chair Jerome Powell&#8217;s hawkish speech in Jackson Hole. The benchmark S&amp;P BSE Sensex jumped 1,564.45 points,&#8230;<\/p>\n","protected":false},"author":2,"featured_media":25312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":{"0":"post-25311","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asian-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/25311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=25311"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/25311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/25312"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=25311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=25311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=25311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}