Indian markets are expected to open negatively tracking the SGX Nifty and its Asian
US stocks closed in the red snapping the seven day uptrend. Decline in oil prices
and further indications of slowdown in the Chinese economy weighed on the
investor sentiments.
European indices declined for the second consecutive trading session. Poor Chinese
data took a toll on commodity and luxury goods shares.
Indian markets closed marginally in the red led by metal and telecom stocks. Metal
heavyweights such as Tata Steel Vedanta and Hindalco were under pressure (losing
about 3%) owing to weak trade data from major consumer China. Oil marketing
companies such as BPCL HPCL and IOL rose due to lower crude prices helping to
arrest decline in the indices.

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