Indian markets are likely to open negative tracking global indices and SGX Nifty.
U.S. Stocks remained mostly negative in midday trading on Friday. With the drop on the day the techheavy Nasdaq is pulling back off the record closing high set in the previous session. Renewed trade war concerns are contributing to the weakness on Wall Street after President Donald Trump announced plans to impose a 25 percent tariff on 50 billion worth of Chinese goods that contain “industrially significant technologies”. The Dow Jones was down by 0.3% to 25091 and the Nasdaq dipped by 0.2% to 7746.
U.K. stocks ended the session firmly in negative territory. A day after the European Central Bank announced plans to end its bond purchases markets tumbled on renewed concerns over a global trade war. The benchmark FTSE 100 was down by 1.7% at 7634.
On domestic front Indian shares ended a rangebound session on a flat note Friday even as pharma stocks extended recent gains and IT stocks rose
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