Indian markets are likely to open flat tracking global indices and SGX Nifty.
U.S. stocks moved mostly higher during the trading day on Thursday after coming under pressure in the previous session. The major averages all moved to the upside with the Dow posting a particularly strong gain on the day. The Dow Jones spiked by 1.6% to 25559 and the Nasdaq went up by 0.4% to 7806.
U.K. shares rose yesterday as worries about Turkey eased and a government report showed U.K. retail sales increased more than expected in July. Retail sales including auto fuel rose 0.7 percent monthonmonth in July in contrast to a 0.5 percent fall in June. Sales were forecast to increase by 0.2 percent. The benchmark FTSE 100 was up by 0.6% to 7540.
On domestic front Indian stocks fell yesterday as traders returned to their desks after a holiday on Wednesday on account of Independence Day. Global cues were mixed and the rupee extended recent losses to hit a record low of 70.39 against the dollar
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