Indian markets are expected to open positive tracking the SGX Nifty and global cues.
US markets closed positive as traders picking up stock at lower levels and a notable increase in private sector employment during August.
European markets ended in the green but gains were eroded in late trade due to weakness in energy stocks. Early gains were fueled by bargain hunting and positive US private sector employment data.
Indian markets too gave up all the early gains to close in the red with banking stocks seeing sharp cuts on account of the RBI draft guidelines of the new formula to calculate the base rate.
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