That dragged the heavyweight financials sector
"Since the largest financials firm is pointing at subdued growth, it has had a ripple effect on other financials," said Siddhartha Khemka, head of retailed research at Motilal Oswal Financial Services. At its session low, the Nifty 50 breached its 100-day moving average . The index has traded between its 50- and 100-DMAs for nine straight sessions.
The indexes climbed about 0.4% earlier in the session after the minutes of the Federal Reserve's meeting showed policymakers agreed on, although they diverted from market expectations for late-year rate cuts.
Source: News Formal (newsformal.com)
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