Key Points
Mumbai: India's benchmark Nifty Monday recorded a fresh closing high, paced by gains in select banks due for higher weightings on a keenly tracked global gauge..
The NSE Nifty rose 81.5 points, or 0.37%, to close at 22,122, off its fresh all-time high of 22,186..
"We see the market digesting the fact that the anticipated 150-bps rate cut from the US Fed may not happen soon, even though a rate cut can be expected both domestically and globally in the second-half of the year," said Pankaj Pandey, head of research at ICICIDirect.com...
The Nifty Financial Services index also gained in line with Nifty, at 0.37%, as Indian banks are set to gain additional weighting on the FTSE All-World index.. (You can now subscribe to our ETMarkets WhatsApp channel)..
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