Indian stocks, Sensex, closed up more than 1.4% on Wednesday as investors bought a wide range of stocks after the Indian government released its Economic Survey, which said the Indian economy is likely to grow strongly in the near term. this
The Sensex index closed at 58,014.17, up 813.94, or +1.42%.
The Indian parliament, led by Finance Minister Nirmala Sitharaman, released an economic survey that said: The Indian economy is projected to grow 8%-8.5% in fiscal year 2022, starting in April. It was down 9.2% from the expectation due to inflation pressure from India. In addition, the number of confirmed cases of COVID-19 has skyrocketed.
However, the economy, which grew at 8%-8.5%, was the strongest among countries with large economies.
Archyde.com reported that India’s economy is recovering after the government lifted the coronavirus lockdown in June. After the economy contracted by 7.3% in last fiscal year.
Technology stocks jump These include Tech Mahindra Shares, Wipro Shares, Bajaj Finserve Shares, Infosys Shares and SBI & Power Grid Shares.
Banking stocks also rose. This includes IndusInd Bank shares and HUL stocks.