Technology

Indian markets are likely to open positive tracking the SGX Nifty and Asian markets.
US markets had a mixed session which saw poor economic data along with a
merger announcement between Amazon and Whole Foods. The U.S. Commerce
Department said housing starts slumped by 5.5 percent to an annual rate of 1.092
million in May from the revised April estimate of 1.156 mln. This decline was much
lower than estimates which was a gain of 1.215 mln from 1.172 mln.
UK stocks had a positive session as the next round of financing for the Greek
government was approved by Eurozone ministers BP Plc closed up about 1 percent
on news of its plans to invest 6bln in the D6 gasfield in the KG Basin along with
Reliance Industries. Retailer Tesco tumbled 4.92 percent despite posting its strongest
U.K. sales growth in seven years.
Indian markets closed flat during a choppy session. IT and healthcare stocks lost
ground and closed down 0.83 and 1.52 percent respectively. The Bank index closed
up

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