Latest Market Update:
Indian stock market shares edged down on Tuesday after rising about 0.7 percent in the previous session on Monday, as recent out performers such as banks were hit by profit-taking with analysts warning markets could head for a phase of consolidation this week. The broader NSE index has been hovering below the key psychological level of 9,000 this month but has been unable to break above it.
Meanwhile, investors are also awaiting the U.S. Federal Reserve meeting next week, where it is widely expected to raise interest rates. The direction of markets will likely hinge on the results of the elections in the northern state of Uttar Pradesh, due out on Saturday, which will have a key influence on PM Narendra Modi’s chances of clinching a second term in 2019.