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Market Snippet

Benchmark indices traded bullish on the second trading session of the week on account of buying action seen in some select blue-chip companies. However investors also remained cautious ahead Feb F&O expiry due this Thursday. Telecom stocks were down as Jio’s free data offer has hit rivals, raising concerns about competition and margins in the sector. Global cues remained mixed as US markets remained closed. Nifty ended the session to close at 8908.00.

The Banking shares were the major gainers of the day while Media shares were the losers of the day.

Global Markets Update

Toshiba Corp wants to pick the preferred bidder or bidders for a majority stake in its chip unit by the end of May and will hold the first round of bids next month, a source with knowledge of the plan said.

Japanese stocks rose on Tuesday as the weaker yen helped overall sentiment, while the paper sector outperformed on a report that a major producer intends to raise printing paper prices.

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