Indian Markets to open lower tracking muted global cues - TRANS SCAN

The Indian markets are likely to open lower tracking muted global cues. Tracking the momentum, the index may head lower to test its crucial support level of 5600 in trade today. At 07:30 a.m., Nifty India stock futures in Singapore were trading 38 points lower at 5617, indicating a lower opening on the domestic market.

On Friday, US stocks ended mixed as investors picked up beaten down stocks. Global markets including US came under pressure last week after Federal Reserve Chairman Ben Bernanke laid out the Fed's plans to scale back on its $85 billion in monthly asset purchases.

Major Asian markets were trading lower on mounting concerns that the US Federal Reserve may start scaling back its huge monthly bond-buying plan which was aimed at keeping bond yields down and provide support to its faltering economy.

Source : Equity Bulls

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