Indian markets are likely to open flat tracking the SGX Nifty.
US Markets closed up with the Dow index posting a new record closing high. The
Commerce Department released a report showing that new home sales climbed by
3.7 percent to an annual rate of 555000 in January against an expectation of an
increase of 7.5 percent. Consumer sentiment pulled back by less than expected. The
consumer sentiment index for February was upwardly revised to 96.3 from a
preliminary reading of 95.7 against an expectation of 96.0.
The European markets ended Friday session extending the losses for the week as
weak corporate earnings dampened investor sentiment. Among UK stocks financials
were weak with Standard Chartered dropping 2.73 percent after its annual profit
missed analyst estimates. Royal Bank of Scotland Group dropped 4.49 percent as it
posted a £7bn annual loss due to misconduct charges and restructuring costs.
Indian markets opened positive but lost most of the gains of the session

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