Benchmark indices have closed higher, amid volatile trading session led by FMCG and IT shares.
Meanwhile, the Centre's fiscal deficit ballooned to almost 63% of Budget Estimates for 2013-14 in just first four months of the year.
The deficit stood at Rs 3.40 lakh crore (Rs 3.4 trillion) in April-July period, which was 62.8% of Rs 5.42 lakh crore pegged in the Budget, according to data released by the Controller General of Accounts (CGA).
The 30-share Sensex ended up 219 points at 18,620 and the 50-share Nifty ended up 63 points at 5,472.
Prime Minister Manmohan Singh said that the rupee's tumble is a "matter of concern" but is part of a needed adjustment due to India's large current account deficit.
Singh said that rupee depreciation will see upward pressure on inflation, but added that RBI will work on containing it.
Indian economy will grow at about 5.5% in the current fiscal and the first quarter numbers are expected to be relatively flat, Prime Minister Manmohan Singh said today.
The key trigger for markets now will be first quarter GDP data scheduled later today.
Moody's Analytics, the research and analysis wing of Moody’s expects the Gross Domestic Product (GDP) growth for the first quarter to be at 4.5%.
On the global front, Asian stocks rose and oil prices tumbled as a possible U.S. military strike on Syria appeared less likely, while the dollar remained not far from a three-week high against a basket of currencies after upbeat US growth data.
Click NEXT to read further. . .
Meanwhile, the Centre's fiscal deficit ballooned to almost 63% of Budget Estimates for 2013-14 in just first four months of the year.
The deficit stood at Rs 3.40 lakh crore (Rs 3.4 trillion) in April-July period, which was 62.8% of Rs 5.42 lakh crore pegged in the Budget, according to data released by the Controller General of Accounts (CGA).
The 30-share Sensex ended up 219 points at 18,620 and the 50-share Nifty ended up 63 points at 5,472.
Prime Minister Manmohan Singh said that the rupee's tumble is a "matter of concern" but is part of a needed adjustment due to India's large current account deficit.
Singh said that rupee depreciation will see upward pressure on inflation, but added that RBI will work on containing it.
Indian economy will grow at about 5.5% in the current fiscal and the first quarter numbers are expected to be relatively flat, Prime Minister Manmohan Singh said today.
The key trigger for markets now will be first quarter GDP data scheduled later today.
Moody's Analytics, the research and analysis wing of Moody’s expects the Gross Domestic Product (GDP) growth for the first quarter to be at 4.5%.
On the global front, Asian stocks rose and oil prices tumbled as a possible U.S. military strike on Syria appeared less likely, while the dollar remained not far from a three-week high against a basket of currencies after upbeat US growth data.
Click NEXT to read further. . .