An INDIAN BENCHMARKS decline for 3rd consecutive week Negative cues from global markets has certainly dampened the sentiment on Dalal Street. The International Monetary Fund cut its forecast for global growth this week and said the euro area faces the risk of a recession, which led to a sharp sell-off in global markets.Infosys delivered a much improved quarter with a strong dollar revenue growth of 3.6% QoQ. More importantly, the company has maintained its annual revenue growth guidance of 7-9% implying that growth momentum will sustain in H2 FY15.
The INDIAN BENCHMARKS SENSEX ended 1.28 percent down at 26297 and the 50-share NIFTY closed 1.26 percent down at 7859.
GLOBAL MARKET CHASE
ASIAN STOCKS dropped on Friday, dragged down by concerns about the pace of global growth.
U.S. STOCKS tumbled, with the Dow Jones giving back 2014's gains amid a tech sell off and concerns a global slowdown will water down U.S. earnings.
EUROPEAN STOCKS were lower, as concerns over global economic growth and downbeat data from Germany continued to weigh.
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