Indian markets are likely to open flat tracking the SGX Nifty.
US stocks closed on a negative note on Monday. After coming under pressure early
in the session stocks regained some ground over the course of the trading day but
still closed modestly lower. The weakness for the day came after seeing strength in
the last week and seeing record highs.
The European markets ended the first trading session on the new week in a negative
territory. The markets got off to a weak start Monday and remained in a narrow
range for most of the session and finally closed in red. Weak opening of the US
indices also had some impact on the European markets. Banking stocks were in
selling pressure during the day.
Indian markets continued their upward move during Monday and closed at two year
high. Today move was backed by strong buying in Index heavy weight Reliance
Industries and selective banks. Auto stocks also were in favour today.

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