Indian markets are likely to open negative tracking global indices and SGX Nifty.
The US stocks rose on Friday inching to new record highs. The modest strength on Wall Street came following the ISM report which said that its nonmanufacturing index inched up to 60.1 in October from 59.8 in September reaching its highest level since the indexs debut in 2008. The Dow Jones Industrial Average was up 0.1% at 23539 while the SP 500 rose 0.3% to 2588 and the techheavy Nasdaq Composite rose 0.7% to 6764 marking its sixth consecutive weekly gain.
The FTSE100 closed at a fresh record high on Friday despite the Bank of Englands decision earlier this week to raise interest rates for the first time in over a decade. The FTSE index finished the trading session up 0.1 per cent at 7560 beating the previous record close of 7556 set on 12 October. The FTSE 100 has increased by around 20 per cent since the June 2016 Brexit referendum although it has been supported by a slump in the poun

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