The markets finished the session on a lower note with Indices snapping the six day winning streak after investors booked profits at higher and attractive levels. Also, weakness among global peers and dismal June services sector PMI data dampened investors’ sentiment. The Nifty50 dropped 35 points to finish at 8,336. Growth in India’s services firms fell to a seven-month low of 50.3 in June as compared to the previous month of May as new business grew at its slowest pace in the previous 11 months. Auropharma, the Coal India Yes bank was the top gainers of the day while Gail, Power grid Tata Motors DVR were the top losers.
Global Markets Update:
- McDonald’s won a trademark dispute with a Singapore rival on Tuesday as Europe’s second highest court backed its claim to have exclusive rights to the use of ‘Mc’ or ‘Mac’ in trademark names for foodstuffs and beverages.
- U.S. stock index futures were lower on Tuesday, tracking a decline in oil prices, as investors shifted their attention to global growth worries post Brexit.
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