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Giving a brief picture on this week s market action,

benchmark indices on Monday witnessed selling pressure due to profit booking.

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benchmark indices on Monday witnessed selling pressure due to profit booking. Post strong gains in the previous week, profit booking was evident which resulted in a distribution day on both the key indices.

The day also saw the official announcement Idea Cellular and Vodafone India merger, putting an end to months of speculation.

The following day markets extended losses as investor activity remained subdued due to lack of global and domestic cues.

However, on Tuesday markets saw strong price action on certain stocks. Pharma companies Divi s Laboratories and Dr Reddy s Laboratories slumped to their lows as they faced US Food and Drug Administration clearance related issues.

On the flipside, D-Mart chain manager, Avenue Supermarts debuted at the bourses with a gain of over 100 pct, that was the top talk among investors.

Wednesday was one of the worst trading sessions for markets so far in this year, as key indices declined by about one pct based on negative global cues. News of North Korea failing a missile test and investor s concerns on US President Donald Trump executing his pro-growth reforms, dragged global stock markets.

However, markets resumed its rally in the last two trading sessions of the week paring considerable losses from the earlier sessions. The rebound of markets reflects on the strength of the current market rally.

Markets in the coming week may see effects of the vote on Trump's health-care bill that was delayed from Thursday to Friday. (MORE)

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

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