Indian equity benchmark -- Nifty -- ended Wednesday’s trading session in positive terrain, ahead of the US Fed's interest-rate decision later in the day. Index made a positive start and extended its gains, as traders got some support with a World Bank report stating that India will remain the fastest-growing major economy recording a steady growth of 6.7 per cent in the next three years including the current financial year. Traders took note of report that exports from special economic zones (SEZs) rose by over 4 per cent to $163.69 billion in 2023-24 even though the country's total shipments dipped by more than 3 per cent in the last fiscal.
Index remained higher in noon deals, as sentiments remained optimistic with Union Minister Piyush Goyal’s statement that India is positioned in a sweet spot and it is the right time to convert challenges into opportunities. He also noted that the timely sharing of data and transparency in exports and imports will encourage investors to invest more confidently. Adding some relief, a private survey report stated that India stands sixth globally for its employment outlook for the third quarter of 2024, with 30% of businesses planning to hire more staff over the next three months. In last leg of trade, index trimmed some of its gains but ended on a higher note.
