Indian markets are expected to open flat tracking SGX Nifty.
Dow index closed on flat note after falling sharply in early trading on the heels of news the Chinese central bank once again moved to devalue its currency stocks showed a substantial turnaround over the course of the trading session.
European stocks were pummeled Wednesday extending steep weekly losses after China doubled down on yesterdays shock yuan devaluation.
Indian equities fell sharply on Wednesday as global equity and commodity markets continued to reel under pressure on fears that Chinas yuan devaluation could spark a global currency war and weigh on global economic growth. Chinas central bank today devalued the yuan for the second day running boosting the appeal of toprated government bonds.
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