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Indian markets are likely to open flat tracking subdued overseas market and SGX
Nifty.
US markets remained lackluster on Friday after Federal Reserve Chairperson Janet
Yellen signaled on Friday that the Fed will likely resume raising interest rates later
this month to reflect a strengthening job market and inflation coming at central
banks target. European market closed on a mixed note ahead of the US Feds
chairman Yellen comments.
Indian markets continued their upward rally last week. A better than expected GDP
data helped in markets rallying further. However we believe the Indian markets
might take a pause before seeing further upside in the near term. Market
participants will also keenly watch out for exit poll results due for this week and
could react accordingly.

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