Markets were not trading on a strong note in the first half, but late buying helped the Indian indices to recoup intraday losses and finally settled down in green territory with gains of around 0.30%.
Metal and Auto sectors were the main hindrances for gains in Nifty. Metal shares weakened after the iron ore traffic, including pellets, at major ports saw a sharp fall of 28% in financial year 2015-16 as imports declined because of weak demand. Pharma and Financial services managed to take the indices higher. Index heavyweights and Capital Goods shares also supported the indices.
Global Market Updates:
- World stock markets rose on Tuesday, helped by some solid corporate earnings in Europe.
- Nokia’s mobile network equipment sales fell more than expected in the Q1 & will continue to decline this year as customers hold off new orders & it integrates its purchase of rival Alcatel-Lucent.
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