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Global mkts in red; Nifty likely to follow trend

Globally, the US markets logged their worst week since May 2012 with benchmark indices ending in the red for the third straight week after Standard & Poor downgraded its outlook for France to negative from stable.

The Indian equity market is likely to open in the red today with the SGX Nifty trading at 7821, down 55.50 points at 7:55.

Globally, the US markets logged their worst week since May 2012 with benchmark indices ending in the red for the third straight week after Standard & Poor downgraded its outlook for France to negative from stable. The CBOE VIX spiked 13 percent with the Asian shares extending losses today following last week’s selloff.

Back home, the macro data, consumer price index (CPI) for September will be released today. A CNBC-TV18 poll expects it to come it at 7.2 percent versus 7.8 percent month-on-months (MoM). The combination of lower vegetable prices and base effect could pull the CPI to 7 percent.

And in earnings corner, Reliance Industries will announce its earnings today. A CNBC-TV18 poll sees the standalone profit marginally lower at Rs 5,600 crore quarter on quarter (QoQ) and gross refining margins (GRMs) are expected to decline in-line with the benchmark.

More to follow.

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