The Nifty climbing above 8300. Private banks, auto, capital goods and oil stocks cut losses. IT stocks continued to see selling pressure after Tech Mahindra warned about Q1 revenue and margin. However, FMCG stocks rebounded.
The Sensex declined 205.28 points or 0.74 percent to 27606.56 and the Nifty slipped 73.50 points or 0.88 percent to 8307.60. About 665 shares have advanced, 1870 shares declined, and 148 shares are unchanged on the BSE.
Government spending on infrastructure is finally starting to make some impact and whispers are back about a possible interest rate cut in August.
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