The markets closed lower amid consolidation after rising yesterday as investors engaged in profit booking in the recent gainers at attractive and higher valuations. Meanwhile, caution continued to envelop the markets ahead of the UK referendum. However, latest Foreign Direct Investment (FDI) regime for a host of important sectors including defense, civil aviation and pharmaceuticals along with the advancement of monsoon rains capped the downside. The market has ended lower with the Nifty below 8250.
Global Markets Update
- China’s cancellation of Jaguar Land Rover’s patent on the Range Rover Evoque will not stop it from going after an alleged Chinese copycat in a separate unfair competition and copyright proceeding
- Asian shares rose triggered by growing expectations that British voters will opt to remain in the European Union in this week’s referendum.
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