Markets traded sideways after flat opening, but gained momentum in the later half of the session and were able to close in green territory after fall of four consecutive sessions. Asian shares declined over weakness on Wall Street on the back of fears of early interest rate hike in June which kept the investors worried. Decline in Crude oil prices, weakness in Rupee capped the up move. However, strength in European equities too supported the intraday session of Indian indices.
No such sectoral volatility was seen during the intraday session, but Pharma sector lost the most.
Global Market Updates:
- Nokia is likely to cut 10000 to 15000 jobs globally as part of a cost-cutting program following its acquisition of Franco-American rival Alcatel-Lucent.
- European shares rose, shrugging off losses at the start of trading as firmer financial stocks lifted the region’s equity markets.
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