Market Snippet

Nifty traded volatile on second trading session of the week and closed below the 8550 to settle at 8228.55 i.e. 19.85 points higher, thus breaking the two-day losing streak aided by a rebound in IT majors and select index heavyweights. Nifty witnessed selling pressure from the day high of 8555; there is a possible correction in the market if it closes below 8480 on a daily basis. BPCL, IDEA, ICICI Bank was among the top gainers of the day while Hindustan uniliver, Indusind bank and yes bank were the losers of the day.

Global Markets Update:

  • Swedish truck maker Volvo reported better than expected Q2 earnings as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles.
  • World shares dipped for only the second time in nine days on Tuesday, sapped by a drop in oil prices and data that showed Britain’s vote to quit the European Union dented German business confidence.

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