Indian Markets likely to open lower tracking muted Asian Markets - TRANS SCAN

The Indian markets are likely to open lower tracking muted Asian markets. Tracking the muted momentum, the index is expected to test its key psychological support level of 5800 in trade today. At 07:30 a.m., Nifty India stock futures in Singapore were trading 49.50 points lower at 5812, indicating a lower opening on the domestic market.

Overnight, US stocks ended lower as traders were adjusting their positions before the all-important non-farm payrolls report on Friday and a holiday on Thursday. The major U.S. stock indexes traded higher until early afternoon, boosted by positive car sales and factory orders. The energy sector index rose after crude oil prices hit a nine-month high as turmoil in the Middle East unsettled investors.

Major Asian markets were trading muted tracking losses made in US markets overnight and concerns of continuation of further monetary easing by the US Federal Reserve.

Source : Equity Bulls

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