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Nifty to open in green led by positive cues from Asian mkts

The Indian market is expected to open in green today with the SGX Nifty, an indicator of pre-market opening, trading around 8763, up 8.5 points at 7:45 hrs.

The Indian market is expected to open in green today with the SGX Nifty, an indicator of pre-market opening, trading around 8763, up 8.5 points at 7:45 hrs.

It was another consolidation day for the market on Wednesday. Equity benchmarks declined for the third consecutive session with the Nifty closing below the 8700 mark. The broader markets saw selling pressure as well. Metals, technology, capital goods and oil stocks led the fall.

Among global markets, in the US, stocks closed mildly lower as equities failed to recover from Tuesday’s sell-off, amid continued concern over dollar gains and the timing of a fed interest rate hike.

Asian markets were trading higher this morning. Nikkei was higher as the yen is sitting pretty at 121 versus the dollar.

Kospi reversed its losses as the Bank of Korea surprised markets by cutting interest rates to a fresh record low. They cut its base rate for the first time in five months by 25 basis points to 1.75 percent.

The Korean won traded at its lowest level since July 2013 aiding exporters.

And in Europe, equities closed higher, bouncing back heavy losses seen in the previous session, with stocks of exporting companies were boosted by the falling euro

Athex closed more than 2 percent lower as the battle between Greece’s new left-wing government and its “troika” of bailout supervisors over the terms of its international bailout continue. 

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