The Nifty's ability to defend the 22,500 mark will be crucial in the next session, as repeated tests of nearby support levels could increase the risk of a breakdown.
The Centre expects its proposed 30% trade margin cap to cut cancer drug prices by up to 70% and save patients Rs 2,500 crore annually, with an expert committee set to recommend the medicines covered within 10 to 15 days.
Iran has adopted new tactics to target commercial ships in and beyond the Strait of Hormuz, aiming to keep oil prices elevated ahead of the November US midterm elections, Reuters reported, citing senior Iranian officials.
Gold fell over 1% to a one-week low as hotter-than-expected US inflation boosted Federal Reserve rate hike bets, lifting the dollar and Treasury yields and weighing on non-yielding bullion.
