Benchmark indices traded higher on the very first trading session of the week to end higher as the biggest lender of the country SBI rallied after it introduced a 2-tier savings bank interest rate, moreover investors also awaits a rate cut by the central bank later this week. Nifty ended the session to close higher at 10102.00.The PSU Banks stocks were the major gainer of the day while Pharma and FMCG stocks were the losers of the day.
Global Markets Update
Honda Motor Co. drove up its profit forecast for the year citing a more favorable currency exchange rate, after posting a surprise rise in quarterly earnings on the back of a weaker yen and solid demand in Asia.
Japan’s Nikkei share average rose buoyed by companies such as Nitto Denko and Mitsui Sumitomo Financial Group reporting strong earnings, though gains were tempered by a stronger yen.
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