INDIAN BENCHMARKS edged higher amid wild gyrations witnessed throughout the week as market sentiment was boosted on expectations of cut in policy rates by the Reserve Bank of India in its next monetary policy review scheduled on 2 June 2015, after the latest government data showed inflation based on consumer price index (CPI) eased to a four-month low in April.
Further, HSBC downgraded Indian stocks to ' underweight' from ' overweight', citing slowing earnings growth, little room for rate cuts and potential negative impact from an unusual weather due to El Nino.
The INDIAN BENCHMARKS rose 218.61 points or 0.8% to settle at 27,324. The 50-unit CNX Nifty gained 70.85 points or 0.86% to settle at 8,262.35.
GLOBAL MARKET CHASE
ASIAN STOCKS were uneven on Friday as the big markets in Japan and Hong Kong got a lift from the rebound on Wall Street, but weak data dragged Chinese shares lower.
U.S. STOCKS index futures poised for a higher opening at the Wall Street on Friday.
EUROPEAN STOCKS advanced on Friday, as calmer conditions in the bond market buoyed the region's stock markets, while drugs group Roche rallied after positive product results.
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