Benchmark indices traded higher after the MPC of RBI maintained the status quo on policy rates in its bimonthly policy review. The central bank suggested inflation to increase in near future and implication of GST caused the current slowdown in economy. Nifty ended the session to close at 9930.45.Pharma and FMCG stocks were the major gainers of the day while IT and Metal stocks were the major losers of the day.
Global Markets Update
The European Union ordered the world’s largest online retailer Amazon to pay back about 250 million euros in taxes to Luxembourg, saying it was given an unfair tax advantage from 2003.
Asian shares were mixed in light regional trade. The Nikkei 225 rose 0.28%, while the S&P/ASX 200 fell 0.79%. Makets in China, South Korea and Japan were shut for holidays.
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