Indian markets are likely to open negative tracking global indices and SGX Nifty.
U.S. stocks remained mostly negative on Friday following the lackluster performance of the two previous sessions. The major averages have all moved to the downside after closing mixed for two straight days. The Dow Jones fell by 0.8% to 25313 and the Nasdaq decreased by 0.7% to 7839.
U.K. shares fell on Friday as a fresh turmoil in Turkey as well as renewed fears of a trade war between the U.S. and China overshadowed upbeat GDP data for the second quarter. Gross domestic product rose 0.4 percent matching expectations and faster than the 0.2 percent expansion seen in the first quarter. The benchmark FTSE 100 was down by 1% to 7667.
On domestic front Indian shares closed lower on Friday with banks coming under selling pressure after State Bank of India the countrys largest lender reported a loss for a third consecutive quarter on increased provisions for nonperforming assets. Weak global cDownload Full Report