Benchmark indices traded lower on the very first trading session of the last week of this F&O expiry as the market reacted to the appointment of a new RBI governor named Urjit Patel after announcement on Saturday. As the newly appointed governor will focus on inflation the chances of any further rate cut soon are low which kept the market lower for the day. Nifty ended the session to close at 8629.15.Hindustan Unilver, Zeel, ITC and BHEL were the top gainers of the day while Grasim, Auro pharma, Ambuja Cement were the top losers of the day.
Global Markets Update:
- Asian shares were mostly weaker on Monday with Tokyo bucking the trend on a weaker yen as remarks from Fed policymakers stoked the dollar.
- Japan’s Nikkei edged up on Monday, but gains were limited as investors were cautiously focused on this week’s meeting of global central bankers in Jackson Hole, Wyoming, where the U.S. Federal Reserve may provide insight on the rate outlook.
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