According to Angel Broking, markets are expected to open flat tracking the SGX Nifty and mixed Asian cues.
Angel Broking’s market report:
Indian markets are expected to open flat tracking the SGX Nifty and mixed Asian cues.
US markets closed negative led by concerns about the Chinese economy after China’s official manufacturing PMI fell to a three-year low and the ISM reported an unexpected drop in U.S. manufacturing data. European markets ended sharply lower as the concerns over China worsened. The weak opening of the US markets and the unexpected drop in U.S. manufacturing data also contributed to the sell-off.
Indian markets corrected sharply tracking the weakness in global cues and lower than expected domestic GDP growth.
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