Indian markets are expected to open flat tracking the SGX Nifty.
US Markets closed flat on Friday after selling pressure removed the early gains in the session. This selloff has been attributed to news that the Chinese Navy seized an underwater drone belonging to a U.S. oceanographic vessel in the South China Sea. the Commerce Department released a report showing a steep drop in new residential construction in the month of November. The Commerce Department released a report showing a steep drop of 18.7 percent in new residential construction to an annual rate of 1.09 mln in November against an expectation of 1.23 mln.
The European markets continued their gains in Fridays session with pharma stocks leading the rally. Pharma stocks such as Shire Hikma Pharmaceuticals and Actelion were up by 1.60 2.75 and 10.48 percent repectively. Mining stocks fell due to weakness in commodity prices. Miners BHP Billiton and Anglo American PLC fell by 0.53 and 1.9 percent respectively.
Indian mark
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