Benchmark indices traded higher on the very first trading session of the week to end higher as the biggest lender of the country SBI rallied after it introduced a 2-tier savings bank interest rate, moreover investors also awaits a rate cut by the central bank later this week. Nifty ended the session to close higher at 10102.00.The PSU Banks stocks were the major gainer of the day while Pharma and FMCG stocks were the losers of the day.
Global Markets Update
Five Chinese companies will start operations in Abu Dhabi’s industrial zone with an initial investment of $300 million in a boost for the oil-rich emirate’s economic diversification plans.
Japan’s Nikkei ended slightly softer on Monday and at 6-1/2-week lows as a sell-off in index heavyweight stocks SoftBank and Fanuc offset gains in steelmakers and other companies with upbeat earnings.
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