After opening the day in green, share markets in India witnessed positive trading activity throughout the day and ended the day on a strong note. Gains were seen across most sectors with stocks in the auto sector and stocks in the IT sector, leading the gains.

At the closing bell, the BSE Sensex stood higher by 233 points (up 0.7%) and the NSE Nifty closed up by 61 points (up 0.6%). The BSE Mid Cap index ended the day down by 0.7%, while the BSE Small Cap index ended the day down by 1.1%.

Asian stock markets finished in red. As of the most recent closing prices, the Hang Seng was down by 0.6% and the Shanghai Composite was down by 1%. The Nikkei 225 was flat. Meanwhile, European markets were trading on a negative note. The FTSE 100 flat, The DAX, was down by 0.4% while the CAC 40 was down by 0.1%.

The rupee was trading at Rs 63.5 against the US$ in the afternoon session. Oil prices were trading at US$ 69.8 at the time of writing.

In news about the economy. India’s economy is expected to grow by 7-7.5% in FY19, according to the Economic Survey 2017-18.

The survey, authored by chief economic adviser in the finance ministry Arvind Subramanian, said the economy is likely to grow at 6.75% in 2017-18 against 6.5% estimated by the Central Statistics Office (CSO).

The survey highlighted that the major achievements of the past year include the Goods and Services Tax (GST), resolution of the Twin Balance Sheet (TBS) problem by sending the major stressed companies for resolution under the new Indian Bankruptcy Code.

In addition, implementing a major recapitalization package to strengthen the public sector banks, further liberalization of FDI were the biggest achievements.

The Survey said the major risk to India’s growth story next fiscal could emanate from rise in crude oil prices in the international market, however, it expressed hope that recovery in investments, global investment, improved global growth outlook and stabilization of GST will, however, help pick up the domestic economy.