Sensex, Nifty open on a cautious note tracking mixed global cues

India’s equity market opened flat with the S&P BSE Sensex at 62,668.62, up 0.07%, while the Nifty50 was trading at 18,547.60, up 0.07%. The country’s gross domestic product grew at 6.1% in the last quarter of the previous fiscal, beating analysts’ estimates. However, the Reserve Bank of India’s estimated Q4FY23 real GDP growth rate is 5.1% and SBI Research projects a rate of 5.5%. Reuters predicted India’s economy to grow at 5% in the January-March quarter due to steady urban demand and government spending.