The market continued to be rangebound as investors digested better-than-expected Q4 GDP data, which shows India is the fastest growing economy, and shifted focus to global trade concerns, and the movement in crude oil prices & rupee.
The Nifty Midcap index continued to underperform frontliners, extending losses to 1.5% while all sectoral indices are in the red barring Auto.
Auto index gained more than half a percent following good May sales data from Bajaj Auto, Maruti and Ashok Leyland. Tata Motors and Hero Motocorp gained 2 percent each ahead of sales data.
The market remained rangebound in morning trade, as investors after digesting better-than-expected Q4 GDP data shifted focus to global trade concerns, and the movement in crude oil prices & rupee.
The Nifty Midcap index continued to underperform frontliners, falling half a percent.
Select banks and FMCG stocks are under pressure while technology, metals and pharma stocks supported the market.
Asian markets remained mixed with investors cautious over trade tensions after the US announced tariffs on steel and aluminium imports.
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