Benchmark indices traded lower on the third trading session of the week as caution prevailed ahead of state elections results, including that of Uttar Pradesh. State elections results will have a key influence on Prime Minister Narendra Modi’s chances of clinching a second term in 2019. Meanwhile, the Federal Reserve has a policy meeting on March 14-15 and markets are expecting a rate hike after recent hawkish comments by policymakers. Nifty ended the session to close at 8954. Media shares were the gainers for the day while Metal and Reality stocks were the losers of the day.
Global Markets Update
South Korea’s Hyundai Motor Co unveiled a redesigned Sonata on Wednesday, aiming to reverse a fall in sales of a model struggling to stand out in a shrinking saloon segment.
European shares traded flat as the modest move masking significant results-driven gains from German sportswear company Adidas and British security company G4S among others, on a busy day for European earnings.
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