Markets saw an early rally where Nifty reached until 15 months highs; however,the indices failed to carry the positive momentum on the back of cautiousness ahead of Govt meetings to discuss GST Bill and Central Banks meet in US and Japan. Sudden selling pressure dragged the markets down, but last hour recovery pulled the indices to close above the previous day close. F&O Expiry of July series is expected to affect the market volatility.
On sectoral front, Pharma and FMCG were the daggers while Banking& Financials, Media capped the losses.
Global Markets Update:
- Japanese Prime Minister Shinzo Abe announced plans Wednesday for more than 28 trillion yen ($265 billion) in the economic stimulus in an effort to prop up the nation’s economy.
- Chinese stocks slumped the most in six weeks as a report about possible curbs on wealth management products added to concern that regulatory efforts to reduce risks in the financial system will limit flows into equities.
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