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Stock impact report

India's Nifty 50 set to open at new record high, buoyed by strong growth data [Reuters]

Viatris Inc. (VTRS) 
Company Research Source: Reuters
India's GIFT Nifty was up 1.07% at 20,349.50 as of 8:00 a.m. IST. The blue-chip Nifty 50 (.NSEI) index on Thursday settled at 20,133.15, capping off November with the most monthly gains since July 2022. The Indian economy expanded 7.6% in the September-quarter, faster than the 6.8% forecast in a Reuters poll of economists and the Reserve Bank of India's estimate of 6.5%, led by manufacturing growth. "With the robust growth reported, we can expect healthy inflows in domestic markets, with Nifty being pushed to new highs," said Raghvendra Nath, managing director at Ladderup Wealth Management. Meanwhile, Indian state exit polls showed a narrow advantage for India's Bharatiya Janata Party (BJP) in the key states of Rajasthan and Madhya Pradesh, while the Indian National Congress is seen to be leading in Chhattisgarh and Telangana. "While exit polls are not definitive, a decisive BJP win will reinforce consensus that the party is on the front-foot for 2024 general elections and li Show less Read more
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