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Nifty likely to open in red, following global cues

More profit booking by investors also triggered sell-off in the market. The 30-share BSE Sensex closed below the psychological 28000-level, down 322 points and the Nifty was down nearly 98 points to 8341.

The Indian market is likely to continue its negative momentum with the SGX Nifty trading around 8353, down nearly 36 points at 8:00 hrs.

Selling pressure grips Dalal Street for the second straight day with the Nifty tumbling below 8,400 to hit its lowest level in a month, tracking sharp fall in Chinese markets and further decline in crude oil prices.

More profit booking by investors also triggered sell-off in the market. The 30-share BSE Sensex closed below the psychological 28000-level, down 322 points and the Nifty was down nearly 98 points to 8341.

Among global markets, US stocks ended mixed, with the Nasdaq composite rallying after stiff losses.  The Dow Jones had shed as much as 222 points intra-day, but recovered to close down 51.28 points. The CBOE volatility index jumped 4.8 percent to 14.89. 

European markets end with sharp 2 percent cuts as Greek markets tumble 13 percent.

Asian markets, too, extended yesterday’s sell-off to trade at one-week lows, taking cues from an uninspiring finish on Wall Street.

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