Indian markets are likely to open negative tracking global indices and SGX Nifty.
The US stocks saw notable weakness during trading on Friday giving back some
ground following the rally seen over the course of the previous session. With the
drop the major averages pulled back off yesterdays record closing highs. The Dow
and Nasdaq fell by 0.8 per cent to 28638 and to 9021 respectively.
UK stocks declined on Friday as heightened geopolitical tensions drove investors
away from risky assets. Iranian MajorGeneral Qassem Soleimani architect of the
countrys spreading military influence in the Middle East was killed in the air strike at
Baghdad airport prompting a vow of harsh revenge from Irans Supreme Leader
Ayatollah Ali Khamenei. The benchmark FTSE 100 fell by 0.8 per cent to 7568.
On domestic front Indian shares fell on Friday and the rupee was down 34 paise to
the U.S. dollar as rising tensions in the Middle East dented investors appetite for
riskier assets.
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