After the initial boom period of 2004 to 2006, the Indian credit card industry faced one of its toughest years in 2007-09. However, it seems like the tide is turning with the sector witnessing a dramatic drop in credit card defaults in the last one year.
It's been an unusually quiet expiry session. The frontline indices were locked in a narrow range right from word go. At closing bell, the Nifty stood at 5,189 down just 13 points, the Sensex shed 20 points to close 17,130.
It all started with the better-than-expected European market opening, which led to a short covering rally in our market.
The disappointing IIP data and pressure from Europe kept the markets in the red. Traders also used to opportunity to book profits.
The Nifty extended its stay above that 5,200 mark with a 36 point gain while, the Sensex piling on 107 points to close trade at 17,300.
Thank God it's Friday! That's the sentiment echoed by investors and market watchers alike, as the dreadful week came to an end.
It’s a tentative close to the week as the Nifty fails to hold above 5,300. The Sensex closes with an 80 point gain.
A surprise 25 bps rate cut by ECB and Greece calling off the referendum gives Wall Street its second session of strong gains. Major indices are back into positive territory for the year. European markets too close higher.
Markets bounced back despite global uncertainty. The Nifty recovered to close marginally in the green, likewise the Sensex adds 17 points to end trade at 17,481.
Markets have touched a new low as news of slowdown impacting services appeared. Sensex is trading 139 points lower at 17,324, while Nifty is down 44 points at 5,214.