The Nifty50 closed 346 points lower at 17,530. On a weekly basis, the index corrected 1.7 per cent. It formed a bearish engulfing candle after two consecutive bullish candles, which suggests that the momentum could take a breather.
Market in consolidation mode; triggers needed, says Sunil Subramaniam
Indian pharma stocks are rebounding, driven by domestic investors after a period of Foreign Institutional Investor (FII) selling pressure. Uncertainty surrounding potential US tariffs, fueled