Benchmark indices traded bullish hitting new life time high on the last trading session of the week amid firm global cues. The domestic rally was lead by PSU banks mainly as investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks. Nifty ended the session to close at 10489. PSU banks stocks were the gainers of the day while Pharma stocks were the losers of the day.
Global Markets Update
T-Mobile US and Sprint are working to salvage their $74 billion merger and could reach a deal within weeks, the Wall Street Journal reported, citing people familiar with the matter.
Asian shares took a breather as investors gave a guarded greeting to Republican plans for massive U.S. tax cuts, while welcoming the appointment of a sober centrist at the helm of the world’s most powerful central bank.
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