It's been a rough start for the June series as the Niftyshed 80 points to close below 4850 dragged down by rate sensitives, commodity, utilities and technology stocks. A slew of bad economic cues from across the globe didn't help Indian equities either. Reports of monsoon rains over India's mainland will be delayed by about four days also weighed on sentiment.
China's official purchasing managers' index fell to 50.4 in May from April's 13-month high of 53.3, and a separate HSBC PMI survey showed a seventh consecutive month of contraction in the manufacturing sector.
Back home, India's exports rose 3.23% year-on-year to $24.5 billion in April, while imports grew 3.83% to $37.9 billion, government data showed on Friday.
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