Market Snippet:

Benchmark indices traded lower for the third consecutive trading session of the week taking the weak global cues from Europe. The market has posted the biggest one-day percentage loss since June 24. Nifty closed the trading session below the psychological mark of 8600 to settle at 8575.30 i.e.103 points down.

Adani Ports, Bank of Baroda, TCS and Hcltech were the top gainers of the day while Grasim, ACC, Ambuja cement and IDEA were the top losers of the day.

Global Markets Update:

  • World stocks posted a new one-year high and the dollar sagged after weak U.S. productivity data was seen as reducing the prospect of a rare interest rate hike among global central banks.
  • Electric vehicle charging companies are calling for independent oversight of the $2 billion Volkswagen AG is required to invest in clean car infrastructure, saying VW should not have the power to shape the nascent electric car charging space.

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