Indian share market ends lower on Monday despite recovery
Although the indices began Monday on a shaky note in line with global markets, they recovered later in the day as business in the European markets picked up. The indices could not hold on to the gain but it did pare down the losses end of day.
Reliance, Tata Motors, Maruti Suzuki, NTPC and Axis Bank were the top gainers while Wipro, M&M, Adani Ports, Dr Reddy's and BHEL posted losses.
About 1,241 shares advanced, 1,550 shares declined, and 134 shares were unchanged, according to moneycontrol.com
In its report, the Citigroup, a global financial services firm, has said that India's GDP will grow marginally to 7.7% in the next fiscal from an estimated 7.5% in fiscal year 2016 as the economy is going through a "painfully gradual cyclical recovery" process, in the face of external headwinds.
The Indian government recently lowered its economic growth forecast for 2015-16 to 7-7.5% from 8.1-8.5%.
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