Indian markets are expected to open on a negative note tracking the SGX Nifty and
weak overseas market in the previous trading session. However yesterday the
Bankruptcy code has been passed by the Rajya Sabha which would allow faster
recovery of bad debts and should help easing NPAs of banking sector. Banking
stocks could take positive cues from this.
The US market opened with a negative note and the fall accelerated at the close
Wednesday erased nearly all of the sizable gains from the previous day’s session as
disappointing earnings from Disney and a slump among retailers led to investors
selling off. A slide in consumerdiscretionary stocks which include retail shares such
as Macys and Nike weighed on the Dow and SP 500 offsetting a 4% jump in oil
European stocks were slightly lower Wednesday with German shares particularly
weak on losses among the big auto makers. The German DAX was declined 0.7%
and Frances CAC 40 eased 0.55 % while the U.K.s FTSE 100 wa

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