Indian Markets to open lower tracking Asian Markets - TRANS SCAN

The Indian markets are likely to open lower tracking Asian markets, which fell on worries after US Federal Reserve Chairman Ben Bernanke said that the Fed would begin tapering off its stimulus by year-end as the economy improved. At 07:30 a.m., Nifty India stock futures in Singapore were trading 59 points lower at 5756, indicating a lower opening on the domestic market.

Overnight, US stocks ended lower after Federal Reserve Chairman Ben Bernanke spooked markets that it would start winding down its $85 billion-a-month bond-buying program later this year. The policy, known as quantitative easing, has helped fuel stocks' rally, taking major indexes to record levels in US markets as well as in most of the emerging markets.

Major Asian markets were trading lower. Japan's benchmark Nikkei stock average opened down 1.1 per cent tracking sell-off in US markets overnight. US gold futures for August delivery fell more than 2 per cent to $1,342.30 an ounce early in Asia.

Source : Equity Bulls

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