Indian shares closed on an up note Friday after government data showed the nation's GDP grew by 9% in 2007-08, second only to fast-growing China. Analysts said the high GDP growth was due to a strong performance in the country's agriculture sector.
However, stock gains were kept in check after inflation data represented by the wholesale price index (WPI) jumped to a four-year high at 8.1% for the weekend ending on May 17, vs. 7.82% from the previous week.
"Nobody has drawn any great satisfaction at 8.1% inflation -- 8.1% is a worrisome inflation. But the measures we have taken have contained inflation. We are confident that we will gain mastery over this inflation and inflation will be contained over time," Finance Minister P. Chidambaram said. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,414.14 | 1,114.05 | 2,237.66 | 36.82 |
Oil *
72.73
|
|
UP
85.25
|
UP
11.58
|
UP
25.97
|
UP
1.36
|
10 Yr
3.68%
SPDR Gold
106.95
|
|
+0.83%
|
+1.05%
|
+1.17%
|
+3.84%
|
Data delayed 20 minutes |
Connect with TheStreet