Benchmark indices traded lower for straight fifth session as public sector banks lead the fall after report that the Reserve Bank of India (RBI) has demanded higher provisioning for loans submitted under the insolvency process. The breadth, indicating the overall health of the market was weak. Nifty ended the session at 9514.15.The FMCG stocks were the major gainers of the day while Banking and Realty stocks were the major losers of the day.
Global Markets Update
Alphabet Inc signed a multi-year agreement with Avis Budget Group Inc for the car rental firm to manage its growing fleet of autonomous vehicles, sparking a surge in Avis Budget’s stock.
European equities traded lower on Tuesday as European Central Bank (ECB) president Mario Draghi gave an upbeat view of the recovery in the euro zone and investors awaited more appearances from central bank chiefs.
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