Indian markets are likely to open negative tracking global indices and SGX Nifty.
Most global stock markets remain closed today on New Years Eve after posting their best annual gain since 2013. The Dow Jones fell 0.48% to close at 24719and the Nasdaq Composite or 0.67 percent to 6903.
The majority of the European markets remain closed. However in the last trading session the FTSE wrapped up with a solid increase which drove the market to a new high for the year. The FTSE 100 is down by 0.9% to close at 7688.
Indian shares succumbed to profit after reaching record highs last year despite sluggish corporate earnings and shortterm disruptions caused by the implementation of the GST. Lack of cues from global markets also weighed on markets. The Sensex ended down 0.72% at 33813.The Nifty ended at 10436 recording a loss of 0.9%.
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