The Mumbai Sensex has made gains in trading today (November 30th), following news India's economic growth rate has slowed.
India registered an economic growth of gross domestic product for the third quarter of the year at a lower-than-anticipated 5.3 per cent.
Government data shows that this is down from the 5.5 per cent recorded over the three months to the end of June.
The nation has taken various steps to boost its economy, but analysts believe more needs to be done to encourage real progress, with Brinda Jagirdar – chief economist at State Bank of India – saying that India's central bank needs to slash interest rates to revive the economy.
"Growth has become critical as consumption is stalling on top of continued investment slowdown," she stated.
At 06:39 GMT, the Mumbai Sensex benchmark advanced by 0.7 per cent to 19321.8 points.
Find out about the Asian stock indices and spread betting at City Index.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.