The markets could drift lower in trade today tracking global cues. On the domestic front, the measures announced by the government on Monday to stem the rupee’s fall and boost sentiment had failed to meet market expectations. This, coupled with the F&O expiry on Thursday, will keep the gains under check.
Overnight, the Dow Jones industrial average lost 1.1% and the Standard & Poor's 500 Index fell 1.6%.
Asian shares were down on Tuesday as investors remained sceptical that the EU summit later this week will produce any substantive measures to solve the region's debt crisis.
MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.1%, while Japan's Nikkei average opened down 0.7%. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,099– down 0.1%.
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