Benchmark indices washed off the previous week’s brilliant rally (of approx 2.6%) during the sessions mainly in the latter half and finally closed on a negative note around their crucial marks. Oil, Infra, PSU Banks and Telecom were the major sectors to hit the index in a worse manner. Markets were cheered on hopes of GST Bill passage this week and sustained buying sentiments of foreign funds and progress of monsoon further aided the sentiments. This week awaits the quarterly earnings of the blue chips and monsoon sessions of Parliament.
Global Markets Update:
- OUR Walmart, the American worker group, has taken the unusual step of collaborating with a group of Chinese Wal-Mart workers trying to fight work schedule changes and low wages.
- SoftBank Group Corp has agreed to buy UK chip designer ARM Holdings PLC in a 24.3 billion pound ($32.2 billion) cash deal, the two sides said on Monday, a bold bet on internet-connected machines that will transform the Japanese group.
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