Indian markets are expected to open positive tracking the SGX Nifty and Asian markets.
US markets closed in the green reflecting positive reaction to MA activity and better than expected economic data. Three deals worth more than ~30 bn were announced yesterday suggesting optimism among US firms. The ISM PMI index edged down to 50.1 in October but was better than economic forecast of 50.0. Commerce Department showed that construction spending rose 0.6% as against expectations of 0.4%.
European markets recovered towards the end after the weak opening due to tepid Chinese manufacturing data. Markets however reversed direction after the better than expected Eurozone manufacturing report.
The Indian markets fell for the sixth straight session led by weak manufacturing data and uncertainty over the outcome of Bihar elections. Weak Chinese PMI numbers also added to the pressure.

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