Indian Markets are expected to open negative tracking SGX Nifty Global Markets.
The US markets ended negatively as global bond yields dropped. Sovereign debt
yields from Japan to Germany hit record lows. The decline in bond yield which
normally moves in opposite direction to their prices witnessed nervousness ahead
of the Federal Reserves meeting next week and Britains referendum later this month
on whether to stay in European Union. Though the recent economic data suggest
that the Fed may not raise interest rates now the commentary will be keenly be
watched by market participants.
European markets ended Friday with in negative territory adding to the losses of the previous two trading sessions.
The Indian market closed with a negative note on Friday and selling was witnessed
in banking and auto stocks. The week ahead is likely to take cues from the US Fed
meet and progress of monsoon. CPI inflation to be released on Monday will be
crucial data for further move by RBI
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