Indian markets are likely to open on a negative note considering domestic and
global cues.
The US markets witnessed a selloff fuelled by investor worry about European banks
and talk of a December rate increase by the Fed. Investors were worried about
Deutsche BankAG which has been buffeted by concerns about the health of its
balance sheet specifically its ability to withstand a potential 14 billion fine from the
U.S. Justice Department. The US economic data released yesterday showed that US
economy continues to improve which further sparked rate hike fears.
The UK markets rallied yesterday with resource companies leading the charge as
investors cheered a decision by the Organization of the Petroleum Exporting
Countries to cap oil output. The FTSE 100 index rallied 1% to 6919 to close at its
highest level since Aug 2015. The positive day in London came after OPECS to limit
oil production by about 700000 barrels a day. Analysts however remain sceptical
that the world’s

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