Benchmark indices traded higher on account of value buying and reflected upbeat mood in sync with global markets ahead of minutes of the US Federal Reserve’s latest meeting. However caution prevailed as a faster-than-expected rise in consumer price inflation in July reduced the chances of another interest rate cut by the Reserve Bank of India. Nifty closed at 9907.00. The PSU banks and Metal stocks were the major gainer of the day while Energy stocks were the losers of the day.
Global Markets Update
Deutsche Bank plans to beef up its trade finance business in the developing world, creating new jobs and investing in technology, it said on Wednesday.
Japan’s Nikkei share average was nearly flat on Wednesday with the previous day’s rally running out of steam as the yen’s weakening slowed, while Japan Airlines bucked the trend helped by a brokerage’s bullish view.
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