Indian markets are likely to open flat and may remain range bound tracking the
SGX Nifty and Asian markets.
US markets moved to the upside early in the session and remained firmly positive
throughout the trading day on Tuesday. With the upward move the Dow and the
SP 500 both climbed to new record closing highs. The strength on Wall Street was
partly due to bargain hunting with traders picking up stocks at relatively reduced
levels.
The majority of the European markets ended Tuesdays session with small gains
following yesterdays weak performance. Investors stepped in to buy technology
stocks following Mondays drop.
Indian markets erased early gains to end largely unchanged on Tuesday amid
selling in IT banking FMCG and auto stocks. Markets rose in early trade as tepid
inflation and industrial output data helped spur hopes that the RBI will cut interest
rates at its next policy review in August.
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