Benchmark indices traded another session being range bound near the monthly high and ended the day to close flat. Weak Asian cues also kept the nifty’s gains capped. Meanwhile WPI inflation in January rising to 5.25% against 3.39% in previous month also affected the sentiment. Yesterday, however, retail inflation declined to 3.17% against 3.41% in Dec due to low demand after demonetization.
The IT stocks were the gainers for the day while Media and Metal stocks were the losers of the day.
Global Markets Update
Britain’s Rolls-Royce suffered a record loss of 4.6 billion pounds $5.8 billion as a fine to settle bribery charges and the collapse in the pound from Brexit capped a difficult few years for the British aero engine maker.
Global stock flat lined as caution set in before testimony from Federal Reserve chief Janet Yellen that may offer clues to the timing of the next U.S. interest rate rise.
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