Indian markets are likely to open flat with positive bias tracking the SGX Nifty.
US stocks advanced slightly higher during Mondays session as housing and steel stocks moved higher. The NYSE Steel Index and the Philadelphia Housing Sector Index climbed by 1.7 and 1.6 percent respectively. The Commerce Department released a report showing a rebound in durable goods orders. Durable goods orders increased by 1.8 percent in January against expectations of an increase of 1.7 percent.
UK stocks closed flat as the pound closed near its twoweek low. Persimmon advanced 0.25 percent after the homebuilder reported a 23 percent rise in 2016 pretax profit and reported good prospects for 2017. Associated British Foods slid 0.92 percent after the retail conglomerate maintained its earnings guidance. In economic data demand in the services sector picked up a little in the three months to February according to a survey by the Confederation of British Industries.
The Indian indices closed down o
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