Indian market: Sensex surges by 206.40 pts at 41,558.57, at peak

The National Stock Exchange (NSE) too rose by 59.60 points to 12,224.60.

The Nifty registered days high and low at 12,237.70 and 12,163.45 points respectively.

Pharmaceuticals, metal and IT stocks contributed to the gains. Most Tata Group stocks declined after NCLAT restored Cyrus Mistry as executive chairman of Tata Group.

The equity market remained in green throughout the day, as it opened on a positive note at 41,442.75, rising by 90 pts. It spurted by nearly 262 points to 41,614.77, day high before closing at 41,558.57, rallied by

206.40 points from its previous close.

The sectoral indices like Consumer Discretionarly Goods and Service, IT, Auto, Bankex, Realty and Metal stocks kept the market firm for another day today. In scrips, M & M, Sun Pharma, Asian Paints, ITC and HDFC Bank were rallied however, selling in Tata Motors, SBI, Hind Unilever and Yes Bank restricted from further gain, broker informed.

The broader market slipped. The S&P BSE Mid-Cap index fell 0.19 pc and the S&P BSE Small-Cap index declined 0.05 pc.

The market breadth was negative. On BSE, 1192 shares advanced while 1299 shares declined. A total of 212 shares were unchanged. In Nifty 50 index, 33 stocks advanced and 17 stocks declined. Economy:

The International Monetary Fund (IMF) will significantly lower India's growth forecast from the earlier number of 6.1 pc for FY20 on 20 January 2020, given the fall in consumption, lack of private investments and sluggish exports.

India's gross domestic product (GDP) grew 4.5 pc in Q2 September 2019, the lowest since Q4 March 2013.

Meanwhile, Finance Minister Nirmala Sitharaman will chair the 38th goods and services tax (GST) Council meeting today.

Investors are keenly waiting for the outcome of the meeting to get any cues on the government's plan to overcome revenue shortfall. Concerns on fiscal path may influence government to hike tax slabs.