Sebi’s move to tighten P-Note norms on Friday hit markets hard as equities took a beating of 300 points to fall to a one-week low even as investors saw odds of an early rate cut receding after inflation hardened in April
Domestic shares, however, logged their first weekly gain in three on the back of quarterly earnings, which were so far in line with expectations, as Sensex rose 261.07 points or 1.03 per cent and Nifty climbed 81.45 points or 1.05 per cent in five days.
In a double whammy, government data on Thursday last showed that industrial production plunged to 0.1 per cent in March, while retail inflation jumped to 5.39 per cent in April.