Indian Markets are likely to open soft on Tuesday - TRANS SCAN

The Indian markets are likely to open soft on Tuesday tracking muted Asian markets, while investors will keep an eye on inflation data for the month of April which will be out later today. After a fall registered in consumer price index (CPI)-based inflation data which fell to a 13-month low of 9.39% in April against 10.39% in the previous month, market will closely track wholesale price index (WPI) for April 2013 due today.

Overnight, US stocks ended little changed after hitting record highs last week. The S&P 500 was still up 14.5 % for the year so far.

Major Asian markets were trading mixed while the dollar got support from better-than-expected U.S. retail sales data suggesting a steady recovery in the US economy.

Source : Equity Bulls

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