Markets dragged in the first half of session on reports of delayed monsoons and WPI inches towards positive zone (+0.34%) from the negative zone after seventeen months (-0.85% in March) also weighed investors’ sentiments. However, late rally in index heavyweights and defensive stocks made the indices bounce back from the bottom levels to march northwards in the last hour to settle in green with gains of around 0.60%.
FMCG and Realty were the leaders for the day while PSU Banks were the only dragger in the indices section.
Global Market Updates:
- European shares were lower on Monday with Hennes & Mauritz among the main losers after disappointing sales growth figures, while Telecom Italia shone after lifting its cost cutting goal.
- Hennes & Mauritz fell 1.5%, making it one of the top losers on the FTSEurofirst, after a report of 5% increase in April sales.
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