Market Snippet:

Benchmark indices traded flat today with selling a biasness, losing the last three session winning streak on account of lower GDP data, India’s gross domestic product (GDP) grew below expectations at a five-quarter low of 7.1% in the first three months of 2016-17, down from 7.9% in the fourth quarter of the previous financial year. The weak global cues also capped the market’s upside movement.

Gail, Lupin, M&M and HDFC were the top gainer of the day while IDEA, Bharti airtel, Reliance and BHEL were the top losers of the day.

Global Markets Update:

  • The United Auto Workers urged Volkswagen to accept the National Labor Relations Board’s latest order that requires the carmaker to collectively bargain with UAW local union as the representative of a portion of workers at its Tennessee plant.
  • European stocks were higher led by gains in the financial sector and upbeat Chinese manufacturing data, while investors eyed the release of manufacturing activity reports from the euro zone.

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