Indian markets are likely to open on a flat note tracking SGX Nifty.
US markets moved slightly lower on Thursday as investors were unwilling to take big positions ahead of the speech by Fed Chair Janet Yellen. The US Commerce a report showing stronger than expected durable goods orders. Retail and transportation stocks gave a weak performance while gold stocks recovered some of their previous losses.
UK markets lost ground on Thursday after losses from commodity producers and pharma stocks pulled down the indices. Weakness in pharma stocks resulted due to US Presidential candidate Hillary Clinton vowing to pressure drug firms to lower prices. Weak commodity prices continued to hamper the performance of material stocks.
Indian markets slipped lower on weak global cues and due to the derivatives expiry. Investors turned cautious and reduced exposure ahead of the Fed announcement expected on Friday. FMCG was the gainer for the session with most other sectors losing out.
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