Indian markets are likely to open negative tracking global indices and SGX Nifty.
US stocks suffered one of their worst days in recent memory in the last trading session as markets continued to throw a tantrum over rising interest rates. The Dow Jones ended on downside of 4.6% to close at 24346 and the Nasdaq Composite edged down to 3.8% to 6968.
U.K. shares tumbled as a strong U.S. jobs report reinforced the Feds outlook for three interestrate hikes this year and investors looked ahead to a new round of talks between the U.K. and European Union starting Tuesday. The FTSE 100 was down by 1.5% to close at 7335.
On domestic front Indian shares fell for a fifth consecutive session tracking weak cues from global markets after a strong U.S. jobs report for January helped fuel expectations that the Federal Reserve will lift borrowing costs more than the three times initially expected this year. The Sensex ended on a downside front of 0.9% at 34757 while the Nifty ended atDownload Full Report