Benchmark indices traded flat and ended lower on account of profit booking as the index is at life time high. IT major TCS fell almost 6% on weak earnings which kept the market under pressure too. However, a fall in WPI inflation to 0.9 per cent in June from 2.17 per cent in May prevented the market from falling further. Nifty ended the session to settle at 9899.55.PSU Bank stocks were the major gainers of the day while IT stocks were the major losers of the day.
Global Markets Update
JPMorgan Chase & Co the biggest U.S. bank by assets, reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and loan growth more than offset a drop in bond trading. Trading revenue fell for the first time in five quarters as volatility hit multi-year lows. U.S. stock index futures edged lower Friday ahead of the latest batch of data. The Dow futures was off 0.04%.The DJI closed up 0.10% overnight. The S&P 500 futures fell 0.09%.
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