Indian Markets Fall as Global Sentiment Sours on Weak Data
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Indian benchmark indices Nifty 50 and Sensex declined on Tuesday, tracking global risk aversion and disappointing Indian PMI data.
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Top gainers on Nifty were UPL, Tata Motors, SBI Bank, Bajaj Auto and NTPC, while top laggards were HCL Tech, TCS, LTIMindtree, Infosys and L&T.
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Markets disappointed by unexpected drop in Chinese and Indian Services PMI for February, while China's lower 2023 GDP target also weighed on sentiment.
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Focus turns to upcoming US economic data including ISM Services PMI, Fed Chair Powell's testimony and nonfarm payrolls numbers.
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Indian markets closed Friday for Mahashivratri holiday; key events this week include US jobs data, Powell testimony and potential new China stimulus.