Indian markets are likely to open with a positive bias tracking SGX Nifty % Asian
After initially moving to the downside US market turned in a lackluster performance
over the course of trading session on Friday. Even with the choppy trading the
major averages managed to reach new record closing highs. Profit taking
contributed to the initial weakness on Wall Street although traders seemed
somewhat reluctant to make significant moves.
The majority of the European markets ended Fridays session in the red extending
their losses from the previous session. The recent rally in Europe and on Wall Street
appears to be running out of steam due to uncertainties over the U.S. fiscal and
monetary policies.
Indian markets surged higher for the second day in a row on Friday to close near
fivemonth highs even as caution bled into global markets on uncertainties over the
U.S. fiscal and monetary policies

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