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Nifty likely to open green; Asia opens lower

The Asian markets have opened lower on the back of a weak overnight handover. Kospi has shaved off a tad bit from six-month high.

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The Nifty is likely to open in the green with indicator SGX Nifty at 8634, up 10 points.

On Thursday, the 30-share BSE Sensex declined 152.45 points to 28469.67 and the 50-share NSE Nifty slipped 51.25 points to 8634.65. The broader markets followed the same trend too; the BSE Midcap and Smallcap indices lost 0.6 percent each with the market breadth in favour of declines.

The Asian markets have opened lower on the back of a weak overnight handover. Kospi has shaved off a tad bit from six-month high.

In the US, stocks closed mixed as investors eyed options expirations and weighed the Federal Reserve statement that indicated a rate hike would come gradually.

European equities closed mixed as investors reacted to a dovish statement from the Fed. FTSE digested the annual UK Budget statement presented by finance minister George Osborne.

In the currency space, dollar rose broadly as investors remained bullish on the greenback. In commodities, crude slipped on a rebounding dollar and Kuwait’s stance that OPEC had no choice but to keep producing in an oversupplied market.

From precious metals space, gold rose to 1170 dollars an ounce, following a more cautious than expected interest rate statement from the Fed.

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