Indian Markets are expected to open on a marginally negative note tracking the SGX
Nifty and Global cues.
After spending majority of the day in the negative territory the US markets managed
to eke out minor gains. After an earlier downside move the markets recovered on
data indicating uptick in pace of growth of manufacturing activity for the month of
May (PMI index rose to 51.3 from 50.8 in April).
European shares fell on Wednesday hit by a drop in commodity stocks and banks.
Mining stocks fell by c. 2.8% on disappointing Chinese manufacturing data which
showed activity at Chinas factories shrank for a 15th straight month in May. Fears of
Britains exit from the Euro continued to weigh on the markets.
Indian markets rose to its highest levels since October but pared its early gains to
close off days high as selloff in global peers (on poor Chinese PMI) prompted
traders to book profits.

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