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Last Updated : Aug 24, 2015 09:15 AM IST | Source: Moneycontrol.com

Nifty likely to open gap down tracking global cues

The Dow Jones closed 530 points lower, the S&P 500 down over three percent and the Nasdaq losing over three and a half percent.


The Indian equity market is likely to open gap down on back of massive correction seen across global markets and market indicator the SGX Nifty down 145 points at 8129 around 7:50 am in the morning.

On Friday, due to global jitters the Nifty closed below the 8300 mark losing more than 2 percent and the Sensex ended below the 27,500. The Dow Jones closed 530 points lower, the S&P 500 down over three percent and the Nasdaq losing over three and a half percent.  

From the currency space, the dollar crumbles versus a basket of major currencies. The dollar index slips a percent to move below 95.

The US ten-year bond yields falls sharply to 2.04 percent.

Asian markets too tumble, tracking the global meltdown, amid fears of a china-led economic slowdown. Japan's Nikkei cracks 2 percent.

From the commodity space, crude remains weak. WTI Nymex slips below the crucial 40 dollars mark but recovers slightly,   Brent  is down to 45 dollars a barrel.

From other asset class, gold prices gain and hit a new six week highs as dollar and equities decline.



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First Published on Aug 24, 2015 08:05 am
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