Benchmark indices tanked today as the rising crude oil prices in international market raised the concern of higher inflation in near future and a rate cut might get delay in next RBI’s monetary policy review. The global market sentiments remained bullish though. Nifty slipped 1% to end lower at 10410.
IT stocks were the major gainers of the day while Pharm, PSU Banks and Realty shaers were the major losers of the day.
Global Markets Update
The global rally in stocks showed no sign of slowing as upbeat investors pushed the most widely-tracked index of world stocks up for a ninth straight day and sailing past the 500 point barrier.
Asian shares rallied to their highest in a decade and Japan’s Nikkei climbed to its best close since 1992 while oil prices held most of their gains a day after surging to more than two-year peaks on Saudi Arabia’s anti-corruption purge.
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