Indian markets are expected to open negative tracking SGX Nifty.
As per yesterdays release pace of growth in the U.S. service sector surged in July to
decade high. This backs Fed presidents view that U.S. should see a possible rate
hike in September unless economic data deteriorates. Dow Jones ended in red.
Walt Disney shares corrected over 9% single largest decline in a day since 2008
after the company cut down its profit forecast.
London market gained nearly 1% on Wednesday with mining shares among the top
risers. Shares in miners rebounded as investors looked for bargains after recent fall
in the sector. Sentiment was also helped by upbeat economic data from China.
Markets rebounded smartly as bulls took cues from positive commentary by the RBI
governor a day after the monetary policy review. Euphoria surrounding Cognizants
quarterly results also supported rally across IT stocks.
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