The International Monetary Fund (IMF) has lowered the GDP growth rate estimate for the current financial year for India to 4.8 percent. Due to such a big cut by the IMF, the Indian stock market has seen a decline for the second consecutive trading day. In the early trade, the Sensex fell to 220 points and it came down to 41 thousand 400 points. Talking about the Nifty, there was a decline of more than 30 points and it was seen trading below 12,200 points.
During this time, there was a slowdown in banking and auto sector stocks. While the shares of Hero MotoCorp, HDFC Bank and Kotak Bank fell by more than 1 percent, the shares of ONGC, IndusInd Bank, NTPC were seen trading on the green mark.
The Indian stock market did not start well on Monday on the first trading day of the week. On this day, the Sensex lost 416.46 points to end at 41,528.91 points and the Nifty fell 127.80 points to close at 12,224.55 points. In the day's trading, the Sensex touched an upper level of 42,273.87 points and a low of 41,503.37. In the business, the Nifty was at the upper level of 12,430.50 points and the lower level of 12,216.90 points.
Explain that the International Monetary Fund has reduced the GDP growth rate estimate for the current financial year for India to 4.8 percent. According to the IMF, due to sluggishness in India and other emerging countries like it, the growth forecast of the world has had to be reduced. Earlier, the IMF had released an estimate of 6.1 percent growth in the current financial year, whereas the IMF had estimated 7.5 percent in the same period a year ago.
