Indian markets are likely to open negative tracking global indices and SGX Nifty.
U.S. stocks saw substantial weakness during trading yesterday following the mixed performances seen in the two previous sessions. The techheavy Nasdaq showed a particularly steep drop falling to its lowest closing level in over three months. The major averages saw further downside going into the close ending the day just off their lows of the session. The Dow Jones plummeted by 3.2% to 25598 the Nasdaq nosedived by 4.1% to 7422.
U.K. shares recouped early losses to turn flat on Wednesday as the British pound pared gains after the release of weak GDP data. U.K. economy logged a flat growth in August as the increase in industrial production was offset by contraction in construction and farm sectors a government report showed. The benchmark FTSE 100 dipped by 0.1% to 7229.
On domestic front Indian shares rallied yesterday and the rupee recovered to trade higher by 21paise at 74.18 per dolla
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