Benchmark indices traded higher supported buy low inflation with the June CPI at 1.54% data which has raised hopes that the Reserve Bank of India may cut interest rates at its next policy review on August 1-2. Investors, however remain cautious ahead of June earnings result for TCS to be announced today. Nifty settled the day at new closing high at 9885.50. Media and FMCG stocks were the major gainers of the day while OMC stocks were the major losers of the day.
Global Markets Update
Qatar Airways Chief Executive said the airline still planned to buy a stake in American Airlines despite the U.S. carrier ending a code-share agreement between the two companies.
Asian equity markets were mostly up after US Federal Reserve Chair Janet Yellen’s cautious testimony on Wednesday in the US while markets in China got a boost from estimate-beating trade data.
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