Indian markets are likely to open flat with a negative bias tracking SGX Nifty.
US markets ended on flattish note on Friday. After a lackluster performance in the
previous trading session the markets lacked direction during the day and traded in
a narrow range for most part of the day finally closing flat.
The European markets closed on a mixed note as there was no clear direction
overnight from the US markets and the Asian markets. Banking stocks in Europe
remained under pressure as UBS declared a lower than expected profit for the full
year and indicated that there could be more troubles going ahead due to Brexit.
Indian markets continued their upward move ahead of the budget. With pro growth
measures expected by the FM the market participants believe there could increase
spending on the productive sector of the economy. The markets will look forward for
earnings by ICICI Bank and HDFC Ltd during the week.

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