Benchmark indices consolidated on the last trading session of the week and settled below the psychological support of 9600 at 9597.25.The absense of any domestic and global trigeer resulted in tight range of trading in domestic market. Gains were capped by a sharp correction in pharma and IT stocks on worries over their earnings outlook while ITC, Tata Motors continued to support the market. FMCG stocks were the major gainers of the day while Pharma stocks were the major losers of the day.
Global Markets Update
World shares steadied on Friday after selling in the tech sector triggered their biggest fall in over a month, while the yen slid to a two-week low as the Bank of Japan signaled its stimulus was staying in place.
European stocks opened higher on Friday, following news of fresh bailout funds for Greece and as investors were eyeing Sunday’s last round of the French parliamentary elections.
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