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Indian markets are expected to open negative tracking SGX Nifty. Dow index fell on the heels of news of the Peoples Bank of Chinas surprise move to devalue its currency. The move raised concerns about the Chinese economy as well as the possibility that it could start a currency war. European markets ended on negative note with German shares getting hammered by news that China has devalued its currency. Export stocks with exposure to China mainly auto stocks and luxury goods retreated in response to the move. Indian markets fell sharply on Tuesday after China devalued its currency by nearly 2 percent to boost its declining exports and concerns over the logjam in Parliament also rattled investors.Download Full Report