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The Benchmark Index Nifty rallied for the second day and closed at 9917, 33 points above its Wednesday's close of 9884. The Index opened at 9906 and made a high 9925. The Index has closed above its week one high of 9884, immediate target for the Index is at 9948 which is a two week high of Nifty.
The Indian gross domestic product GDP grew 5.7 percent in April-June, badly lower than last years 7.9 percent expansion in the same quarter where in previous quarters 6.1 percent growth, this signals that India is still under the pressure of demonetization and GSTs effect on business.
Bank Nifty opened at 24354 and closed at 24318 after making a low of 24208. The Index was up by 9 points from its previous close of 24309.
Nifty to open gap up by 3 points at 9940 against yesterday’s close of 9937 as per SGX Nifty.
The Cash Market Benchmark Index Small Cap opened at 7690 and closed at 7748 after making a high of 7690. The Index was up by 1.21%. The Index is trading above its two weeks high of 7600, immediate target for the Index is at 7823.
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