Markets dampened on the last day of the week and closed down by more than 1% of the poorest economic indicators so released on Thursday evening. IIP March lost the momentum which stood at 0.1% whereas February IIP had risen by 2%. April CPI came higher than expected at 5.39% and snapped the three month downtrend. This was the reason to trigger the fact that RBI may keep the key policy rates on hold at the policy review due next month.
Except Media, all sectors closed in red where Realty, Metals and Banks dragged the most.
Global Market Updates:
- European stocks opened lower on Friday, tracking their U.S. and Asian counterparts and as declining oil prices weighed.
- Honda Motor Co posted a surprise net loss for the fourth quarter as its quality-related costs, mostly to recall Takata-made air bag inflators, nearly quadrupled for the full business year.
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