Indian markets are likely to open on a flat note tracking SGX Nifty.
US markets showed a lack of direction and closed flat on Monday. This lack of
direction was due to investors confusion over the possible direction of interest rates.
Oil stocks closed significantly lower due to weakness in crude oil price acted as a
drag on the indices.
European markets drifted lower as investors awaited decisions by central bankers by
the end of the week. The FTSE was dragged significantly lower due to weakness in
mining and oil stocks. This was due to overall weakness in commodity prices in
metals and oil.
Indian markets continued their losses from Friday to close lower on Monday. Fears
over a delay in reduction of interest rates and cautious global sentiment over the last
session were the primary sources of investor bearishness. IT stocks were the major
losers along with PSU banks and the auto sector while FMCG stocks closed positive.
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