Benchmark Nifty saw a gap down opening of more than 1 percent on Wednesday as the US presidential elections were tightening investors around the globe. Participants are cautiously watching for the much anticipatory election results along with skeptical cues from US Federal Reserve 2 day meeting ending today, for a possible rate hike. Nifty closed in red at 8514.00 losing 112 pts. Bank Nifty declined 203 pts closing at 19322. Major gainers for today were Mahindra & Mahindra, Infratel and IndusInd Bank, whereas, losses were booked by ONGC Tata Motor DVR and Bank of Baroda.
Global Markets Update:
1). Swedish car maker Volvo announced on Wednesday moves deepening cooperation with its Chinese parent Zhejiang Geely Holding Group Co – a tie-up that’s shaping up to show that China can make a success of buying consumer brands.
2). Indonesia stocks were lower after the close on Wednesday, as losses in the Agriculture, Property and Trade sectors led shares lower.
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