On Monday, share markets in India opened on a positive note and ended the day in green after a volatile day of trading.
The BSE Sensex closed higher by 373 points to end the day at 35,354. While the broader NSE Nifty ended the day up by 102 points to end at 10,628.
Among BSE sectoral indices, FMCG stocks rose the most by 2.2%, followed by Bank stocks at 1.3%. Hero Motocorp and HUL. were among the top gainers.
Alembic Pharma share price is likely to be in focus today as the company's joint venture Aleor Dermaceuticals has received approval from the US health regulator for Xylocaine ointment, used for temporary relief of pain associated with minor burns, including sunburn, abrasions of the skin and insect bites.
Jet Airways share price will be in focus today on reports that founder-chairman Naresh Goyal is going to bring in Etihad Airways to further invest in its equity in a bid to overcome the financial crisis the airline is witnessing.
The company had last week stated that it is in talks to secure sustainable financing for its operations and growth.
Note that last month reports stated that Jet Airways is trimming its workforce and operations further as it struggles through its financial crisis.
The Organization for Economic Cooperation and Development (OECD) has stated that it is expecting Indian economy to grow close to 7.5% in 2019 and 2020.
This expectation comes on the back of higher oil prices and rupee depreciation that will put pressure on demand and inflation.
As per the reports, India's GDP at market prices will grow 7.3% in 2019 and 7.4% in 2020 from 7.5% in 2018. It also said that the growth is likely be slow down in 2019 and 2020 mainly on account of tighter financial conditions, higher oil prices, adverse terms of trade and rising political uncertainties all over.
It said that monetary policy will need to be tightened as inflation expectations are trending up and there are several upside risks to inflation.
Besides, on the trade front, it noted that the hike in US tariffs on Chinese imports could benefit India's exports particularly in the textile sector.
Additionally, it has projected global GDP growth to slow from 3.7% in 2018 to 3.5% in 2019-2020.
To know more on what moved the Indian stock markets today, you can check out the most recent share market updates here.
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