Indian market: Sensex moves down by over 600 points
Mumbai, Sept 3 (IBNS): The Sensex moved down by over 600 points on Tuesday, just days after lower-than-expected GDP numbers for the April-June quarter was unveiled by the Indian government.
As on 2.55 pm, Sensex dropped by 647 points to touch 36685.22 points.
On the other hand, Nifty moved down by 152 points to stand at 10870.50 points.
India's Gross Domestic Product (GDP) growth for the first quarter of the financial year 2019-20 dropped to touch a figure of five percent, government figures unveiled on Friday said.
It is a sharp drop of 0.8 per cent points in comparison to the quarter that ended in March.
"GDP at Constant (2011-12) Prices in Q1 of 2019-20 is estimated at `35.85 lakh crore, as against `34.14lakh crore in Q1 of 2018-19, showing a growth rate of 5.0 percent," read a government statement.
"Quarterly GVA at Basic Price at Constant (2011-12) Prices for Q1 of 2019-20 is estimated at `33.48 lakh crore, as against `31.90 lakh crore in Q1 of 2018-19, showing a growth rate of 4.9 percent over the corresponding quarter of previous year," it said.
Growth of India's eight core industries moved down to 2.1 percent in July, official data released on Monday said.
"The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 131.9 in July, 2019, which was 2.1 per cent higher as compared to the index of July, 2018," read a government statement.
"Its cumulative growth during April to July, 2019-20 was 3.0 per cent," it said.
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