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Tuesday, 28 February 2017

Indian Markets Mark Time Ahead Of Oct-Dec GDP Data

Indian shares were little changed on Tuesday after snapping a six-session winning streak in the previous session as investors took a pause ahead of key economic growth and fiscal deficit data due later in the day. Investors will be watching closely the gross domestic product (GDP) data to see if demand wilted in the final three months of last year following Prime Minister Narendra Modi's surprise decision to ban high-value currency notes. 

A Reuters poll of 30 economists taken over the past week showed economic growth slowed to 6.4 percent annually in the October-December quarter. "Only if growth falls below 5.5 percent or rises above 6.5 percent, would there be some need to re-assess India's growth trajectory in the period ahead," Deutsche Bank analysts wrote in a note.

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