Indian markets are likely to trade in negative zone tracking the SGX Nifty and Asian
US markets showed a lack of direction throughout much of the trading session on
Wednesday before ending the session mixed. The narrow Dow climbed to a new
record closing high. The mixed closed on Wall Street came after the Federal Reserve
raised its benchmark interest rate for the third time in three months despite signs the
U.S. economy has cooled off in 2017.
The European markets got off to a positive start Wednesday and climbed for the
majority of the morning. Positive economic data from China and the continued
rebound in tech stocks helped to fuel the early gains.
Indian markets closed marginally higher on Wednesday with staterun banks
pacing the gainers after reports that the Reserve Bank of India (RBI) is pushing for
bankruptcy proceedings against 12 corporate borrowers representing about 25
percent of the gross bad loans in the banking system.

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