Indian market is expected to open on a negative note tracking the SGX Nifty.
The US markets made new record closing highs at the end of Wednesday session
on low trading volumes. A US Commerce Department report showed a sharp uptick
in durable goods orders for the month of October. Durable goods orders increased
by 4.8 percent in October after rising by 0.4 percent in September. This was against
expectations of an increase of 1.5 percent compared to a 0.3 percent drop in
September.
The FTSE closed slightly negative on Wednesday as lower crude oil prices kept
energy stocks subdued. Stocks also reacted negatively to the Chancellor of the
Exchequer statement that the growth of the UK economy is likely to slow drastically
next year. The UK government has cut its growth forecast for next year from 2.2 to
1.4 percent.
Indian stocks continued from their rally from Tuesday as value buying kept prices
firm during the trading session. Metal and pharma indices were the major gainers
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