Benchmark indices traded bullish to close at new life time high on account of buying action seen after the data of manufacturing PMI released. It rose to 52.5 in March, from 50.7 in February. This is the third month in a row that it has been above the 50 mark that separates growth from contraction, suggesting the world’s fastest growing major economy has largely recovered from PM Modi’s decision in November to ban high-value currency notes. Nifty closed the day at 9263.25.Realty stocks were the major gainers of the day while IT stocks were the losers for the day.
Global Markets Update
British luxury brand Burberry said on Monday it would transfer its beauty business to U.S. group Coty in a deal that will bring in around $225 million plus ongoing royalty payments and grow the division.
European stocks showed mixed trade on Monday with the German DAX heading for a record closing high as investors digested a slew of manufacturing data.
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