Indian markets are expected to open on a Positive note tracking the SGX Nifty and
most Asian markets.
Yesterday US markets closed in the negative territory following sell off in global
markets on renewed fears of global slowdown. The sell off was triggered after the
Chinese Caixin report showed that index of Chinese manufacturing activity
continued to indicate a contraction in December. The Caixin Purchasing Managers
Index fell unexpectedly to 48.2 in December from 48.6 in November vs.
expectations of 48.9.
Tracing the same reasons the European markets slumped amid the sharp selloff in
Chinese stocks.
Indian markets were down by 2% yesterday tracking weak trend in Asian and
European markets after Chinese markets fell by 7% resulting in trading being
halted.
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