Indian markets are likely to open flat tracking the SGX Nifty and Asian markets.
US markets continued to show lack of direction as traders seemed uncertain
about the near term outlook for the markets after the Dow and SP 500
reached record high last week. While NASADQ fell 18 points the Dow Jones
went up by 15 points. On the economic front new orders for U.S manufactured
durable goods fell by more than expected in the month of May according to a
report released by the commerce department. The European markets closed on
a positive note on Monday with banks leading the gains after Italy moved to
shore up confidence in its fragile banking system.
Indian markets closed with sharp losses on Friday muted global cues and concerns
over oil prices weighed on the markets. Further ahead of along week end traders
might have cut down their positions. Selective banks and auto stocks were under
selling pressure. Now all eyes lies on the implementation of GST and progress of
monsoo
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