The market lost nearly a percent as investors booked profits after sharp gains in the previous session, which lifted the benchmarks to 18 months high and turned cautious ahead of July factory data. Weak global cues also caused some selling pressure on disappointment from the ECB and after the North Korea claimed its fifth nuclear test. Sensex closed below the psychological 29000 level while Nifty ends below 8900 mark. Volatility could be seen in the coming session as investors take cues from CPI and IIP numbers i.e. on Monday next week.
Global Markets Update:
- Deutsche Bank is expected to receive a demand for more than $2.4 billion from U.S. authorities in settlement of an investigation into past misspelling of mortgage-backed securities.
- Japan’s Nikkei was flat in choppy trade on Friday as investors continued to look for clues to when the U.S. interest rate will be increased and whether the Bank of Japan will add to its aggressive monetary stimulus.
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