Mumbai, Nov 30 (IANS) Indian equities markets reacted positively to news of the economy expanding by 7.9 percent in the second quarter this fiscal, with a key index rising 2.37 percent during post-noon Monday.
Around 12.40 p.m., the sensitive index (Sensex) of the 30-scrip Bombay Stock Exchange (BSE), which opened at 16,655.75 points against Friday’s close at 16,632.01 points, was ruling at 17,026.91 points, up 394.9 points or 2.37 percent.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,065.8 points against the previous close at 4,941.75 points, reflecting a gain of 2.51 percent.

Broader market indices were also in the green, with the BSE midcap index up 2.16 percent and the BSE small cap index ruling 2.42 percent higher.

The market breadth was positive, with 2,021 stocks advancing, 572 scrips declining and 61 remaining unchanged.

Signs of an upturn in the Indian economy were reinforced with the country’s gross domestic product (GDP) showing a 7.9 percent growth in the second quarter this fiscal, taking the markets and analysts by surprise.

Other major Asian markets seemed to shrug off last week’s fears over the Dubai World $59-billion debt debacle.

A key Japanese index, the Nikkei, closed 2.91 percent or 264.03 points up at 9,345.55 points.

The Hang Seng, a benchmark index of the Hong Kong Stock Exchange was ruling at 21,916.63 points, 3.7 percent or 782.13 points lower.

The Kospi, the benchmark index of the Korean Stock Exchange, was ruling at 1,555.6 points, up 2.04 percent.

In China, the Shanghai composite index was ruling 3.2 percent in the green at 3,195.3 points.