Indian markets are expected to open in the green tracking the SGX Nifty and Asian markets.
US markets recovered from the lows of the day to end marginally lower as value buying emerged in the later part of the session. Falling crude prices dragged the major indices down by ~4% at one point before recovering with energy stocks leading the slide.
Lower crude prices dragged the European markets down after the International Energy Agency warned that the oil market could “drown in oversupply” until at least late 2016. Crude prices plunged to its lowest levels in ~12 years resulting in broadbased selling.
Indian markets witnessed intense selling pressure after global cues turned negative on the back of further weakness in crude prices and the cut in growth forecasts by the IMF. The International Monetary Fund cut its global growth forecasts for the third time in the last one year on the back of sharp slowdown in China and weakness in commodity prices that are hurting markets like Brazil

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