Markets ended higher amid subdued global cues on expectation that the government would soon reveal details of the recapitalisation plan. Meanwhile RBI order mandating banks to lower the merchant discount rate they charge on debit cards did not affect sentiment. Nifty ended the session to close at 10202.95. Auto shares were the major gainers of the day while Pharma stocks were on the losing side.
Global Markets Update
Alibaba Group Holding Ltd has signed a deal with Ford Motor Co (N:F) to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba’s online retail platform Tmall.
Stocks across Europe rose aiming to break a two-session losing streak, with investors bidding up shares in stocks of betting companies as deal news brewed in that industry.
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