Indian markets are likely to open flat with negative bias tracking SGX Nifty.
US stocks slipped on Tuesday after stronger than expected US consumer confidence data stoked concerns about potential Fed rate hike this year and technology stocks dragged. Apple was down just under 1% after EU antitrust regulators ordered the iPhone maker to pay about 14.5bn in back taxes to Irish government.
Londons leading shares dipped in Tuesday afternoon trading to close in negative territory with mining stocks leading the downward trend. Mining firms weighed on the market as the price of copper dropped to 10week low. Antofagasta shares fell 5.5% while Rio Tinto slid 4.7%. Primark owner Associated British Foods was biggest gainer on the index gaining 3.4%.
Nifty ended at 16month closing high on Tuesday tracking positive global cues and due to improved FII inflow despite likely Fed rate hike. Market sentiment was also boosted after RBIs optimistic statement saying that the economy is likely
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