Indian markets are likely to negative tracking global cues and SGX Nifty.
U.S. indices dropped on Tuesday reversing most of the previous days gains. This was a reaction to the Consumer Confidence index coming in much lower than expected. This indicates a softening of consumer assessment of current business and employment conditions. Procter Gamble (PG) gave a strong move of 3.4% after the company reported quarterly results that exceeded analyst expectations.
UKs FTSE index rallied on Tuesday as rising metal prices provided a boost to mining companies. Mining and commodities trading firm Glencore climbed 3.60% after signing a deal for highquality thermal coal. Anglo American rose sharply by 4.5% after the company left its output guidance broadly unchanged for most of its commodities.
Indian indices lost ground on Tuesday as all Tata group stocks posted losses after the announcement of the replacement of Cyrus Mistry. Banking stocks performed poorly with HDFC and Kotak Mahindra Ba
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