Indian markets are expected to open in red tracking the SGX Nifty and the Asian cues.
The US markets were mixed on Friday after Federal Reserve Chair Janet Yellen cleared some of the uncertainty regarding the outlook for interest rates. Fed chief Janet Yellen stated that the Fed remains on track to raise interest rates by year end.
The European markets ended the Friday session on a positive note led by comments from Janet Yellen which provided the clarity investors had been seeking on the direction of U.S. monetary policy.
The Indian markets ended modestly higher on Thursday ahead of a long weekend and the upcoming monetary policy meeting on Tuesday. Mixed global cues rupee weakness and portfolio churning on the eve of the expiry of September derivative contracts limited potential gains.
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