Indian markets are likely to negative tracking global cues and SGX Nifty.
U.S. indices had a negative session on Thursday as the latest earning results came in. Shares of Nokia (NOK) were down more than 8% after the telecom equipment company reported a third consecutive quarterly loss. In economic news the Labor Department released a report showing a modest drop in initial jobless claims for the week ending October 22nd. Another report from the Commerce Department showed an unexpected drop in durable goods orders in the month of September.
UKs FTSE index closed higher on a better than expected GDP growth. GDP growth climbed 0.5% QoQ against an expectation of 0.3% QoQ. Also British retailers reported the strongest increase in sales volume in a year for the month of October. Among banks Barclays climbed 3.9% after it reported better than expected earnings.
Indian indices closed flat on Thursday as weakness from Tata Group stocks kept the indices under pressure. Tata Group shares e
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