Indian markets are likely to open flat with positive bias tracking the SGX Nifty and Asian markets.
US markets had a mixed session during yesterdays session as oil prices moved to its lowest closing level since the last 10 months. The Philadelphia Oil Service Index dropped by 3.4 percent while the NYSE Arca Oil Gas Index and the NYSE Arca Natural Gas Index fell by 2.7 percent and 1.4 percent respectively. Biotechnology stocks moved substantially higher. The NYSE Arca Biotechnology Index moved up by 3.8 percent to its best closing level in almost two years.
UK stocks drifted lower as oil prices dropped. In economic data the British budget deficit reached the lowest for the month of May since 2007. Public sector net borrowing excluding public sector banks decreased by GBP 0.3 billion from previous year to GBP 6.7 billion.
Indian markets traded slightly lower by the end of Thursdays session. The biggest gainer for the session was the FMCG index which closed up 0.77 percent revers

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