Indian markets are likely to open positive tracking global markets and SGX NIFTY.
After moving lower over the last two previous session US markets closed on a
positive note on Wednesday. The gain on Wall Street came following the release of
a series of economic data showing improvement in acceleration in service sector
growth in the month of September.
The European markets closed marginally negative with FTSE closing down by 0.6%
and DAX CAC closing 0.3% each. The markets started on weak note amid
concerns over possibility of monetary tightening by the European central bank.
Indian markets closed with a negative note on Wednesday. Despite RBI’s liberal
action of rate cut by 25 bps banking stocks have failed to attract buyer’s interest. As
we have highlighted earlier that now the focus will be more on quarterly results.
While auto companies have reported strong sales numbers for 2QFY17 which
would translate into encouraging numbers other heavy weight sectors like banks

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