Indian markets are likely to open flat tracking global indices and SGX Nifty.
U.S. stocks closed flat due to profit booking after the recent rally over the past few
sessions. Markets reacted negatively to earnings from Citigroup and JPMorgan with
both stocks moving down 3.4 and 0.88 percent respectively. Producer prices rose by
0.4 percent in September. This was in line with expectations. Initial jobless claims
dropped to 243000 against expectations of a drop to 251000.
UK stocks closed mildly positive as the Pound moved slightly higher. UK Housing prices moved higher in September according to a survey from the Royal Institution of Chartered Surveyors an increase 6.0 percent against an expectation of a gain of 4.0 percent. Gold miner Randgold Resources moved 1 percent higher as gold prices rose due to the marginally dovish stance from the U.S. Federal Reserves September policy meeting.
Indian markets posted strong gains as the 2QFY18 earnings season began. Metal stocks ralli

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