Benchmark indices traded lower on account of weak monsoon forecast however the Finance Minister Arun Jaitley on Monday tabled supplementary goods and services tax legislations in Parliament amid protests from the members of the Congress Party. Global sentiments were also weak as Trump’s failure on healthcare reform raised questions about his ability to push through tax cuts and fiscal spending to boost the economy. Nifty ended the session to close at 9067.35
PSU banks were the major gainers of the day while Metal and IT stocks were the losers for the day.
Global Markets Update
The dollar and share prices tumbled as investors worried that U.S. President Donald Trump’s defeat over healthcare reform foreshadowed difficulties delivering other key campaign promises, in particular tax cuts and spending.
Japan’s Nikkei share average skidded 1.4 percent on Monday, wallowing at a six-week low and deepening last week’s 1.3 percent loss, on pressure from a resurgent yen.
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