Indian markets are likely to open on a flat note considering global cues.
US stocks moved higher with Nasdaq closing at a record high during Thursdays session adding to the strong gains in the previous session over Feds dovish monetary policy statement. Telecom consumer staples and consumer discretionary stocks led the charge. The US investors also ignored some disappointing U.S. economic data in light of the forwardlooking nature of the Fed.
UK’s FTSE index surged to a five week high during the session before closing up 1.1% as a response to Feds decision to leave interest rates unchanged. Shares of Glencore moved to 14month high on rating upgrade and recent strength in commodity prices. Precious metals miners also joined the rally as gold prices soared to a twoweek high.
Indian markets opened up on a strong note following the decision by the FOMC to hold rates at current levels. Auto and PSU bank indices led the rally and closed up 1.44% and 1.37% respectively. The IT index
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