Indian markets are expected to open on a Flat to Negative note tracking the SGX
Nifty and most Global markets.
Yesterday the US markets retreated after posting gains in the prior session on a mix
of profit taking and less than impressive economic data. The traders were still
evaluating Federal Reserves (Fed) statement and strengthening language about
timing of the cut. Also the estimate of 3rd quarter U.S. growth showed that the
economy expanded at a 1.5% below the expected 1.6%.
The European markets closed a negative note yesterday on weaker than expected
corporate results. Weak opening in the US market also impacted the investor
sentiment.
The Indian markets fell yesterday and ended in the negative zone as the investors
weighted on the impact of Fed announcement about the timing of the rate cut.
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