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Morning cues: Global mkts in red; Nifty may follow suit

Globally, the US markets ended lower with small companies taking it on the chin. European market too closed in the red with Asia following suit trading cautious in early trade.

The News International Team

The Indian equity market is likely to open on a flat albeit slightly negative note today. The SGX Nifty, an indicator of the market opening, was trading at 8135.50, down 12.50 points at 7:50.

The market saw a volatile session on Monday with the Sensex rising over 100 points and the Nifty inching towards its all-time highs. All eyes will now be on the expiry this week.

Globally, US markets ended lower with small companies taking it on the chin after China signaled it would not boost stimulus and after home sales unexpectedly declined in August. Apple stocks rose after the tech behemoth said the sales of its latest versions of of iPhone topped 10 million.

European stocks too closed in the red over negative sentiment due to lower commodity prices. The FTSE 300 provisionally closed down 0.6 percent at 1,393.23 points, with UK supermarket Tesco being the major laggard.

Asian markets were trading in the red in early trade on Tuesday after China released better-than-expected factory activity. Trade, however, is quiet with Japanese markets being shut for Autumnal Equinox Day.

Stay tuned for more.

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