Benchmark indices consolidated in absence of fresh directional cues from domestic as well as from global economy. Minutes of the Dec 6 policy meeting showed that despite upside risks to inflation, most MPC members voted for a pause because of growth concerns. Asian cues remained calm amid approval of long-anticipated tax overhaul in USA. Nifty ended at 10457.90. Metal shares were the major gainers of the day while Bank stocks were on losing side.
Global Markets Update
Kobe Steel Ltd, at the center of a data-falsification scandal that has shaken Japan’s manufacturing industry, admitted for the first time that executives were aware of the cheating, and reassigned three senior officials.
European stocks followed Wall Street and Asian bourses lower on Thursday in a muted response to the U.S. Congress’s approval of a long-anticipated tax overhaul.
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