Benchmark indices traded higher after two days of consolidation backed by gains in IT stocks after US GDP data showed improvement in third quarter signaling a steady growth in world’s largest economy.Global cues too remained supportive for the domestic equities. Nifty ended at record closing high at 10505.40. IT stocks were the major gainers of the day while Metal stocks were the major losers of the day.
Global Markets Update
China’s central bank said it will skip open market operations on Monday. On a net basis, the People’s Bank of China (PBOC) will drain 120 billion yuan ($18.25 billion) from the money market for the day, as that amount of reverse repos is due to mature on Monday.
Shares of Japanese construction company Tobishima hit a 7-week high after the company boosted its profit forecast.
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