Indian markets are expected to open in red tracking the SGX Nifty and its asian
US markets ended in red reflecting a negative reaction to the closely watched
monthly jobs report. With the steep drop on the day the techheavy Nasdaq fell to
its lowest closing level in well over a year.
The European markets ended mixed. The highly anticipated U.S. employment report
for January showed weaker than expected job growth and German factory orders
also disappointed. Investors were also confronted by a large number of corporate
earnings results.
Indian shares rose sharply to extend gains for a second consecutive session as crude
prices steadied and weak U.S. data reinforced views that the Federal Reserve would
need to delay further rate hikes. While the rupee traded weak upbeat FDI figures for
December and media reports that the government will notify minimum import prices
for steel products spurred some buying in beatendown stocks.

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