Indian markets are expected to open in red tracking SGX Nifty.
US markets closed down on Monday under pressure from an 8.5% overnight plunge
in Shangai composite on fears that Chinese government may pull back the support
measures that stabilized the markets for last 3 weeks. Correction was led by
Materials and Energy companies which were impacted due to fall in Oil Metal
prices.
FTSE 100 fell on Monday weighed down by fall in Pearson and commodity stocks
which pushed the market towards 6 month lows.
Markets continued their downward trend falling nearly 2% on poor global cues and
concerns emerging over tighter norms on Pnotes. Correction was seen across
sectors with Banking and Metal stocks witnessing maximum correction.
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