Indian markets are expected to open in red tracking SGX Nifty and Asian peers.
US markets closed in the red following the recent trend of a negative close in 7 of the last 8 trading sessions. The continued weakness was on account of weak retail sales data which rose less than expected in the month of October. A separate Labor Department report also showed an unexpected drop in producer prices in October.
European stocks also ended sharply negative led by weaker than expected Eurozone GDP data and a sharp fall in mining stocks led by decline in commodity prices.
After a bit of enthusiasm in the auspicious Mahurat trading for Diwali markets had another dismal trading session led by weak macro data and negative global cues. IIP growth was sharply lower than expected in September at 3.6% from 6.3% in August while retail inflation inched up for the third successive month in October to 5%.

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