According to Way2Wealth, markets are likely to open on a negative to flat note, tracking muted trends in other Asian peers as stocks fell on fears the insurgency in Iraq could worsen and affect oil exports.
Markets closed in red, after oil and gas stocks fell as Brent crude surged to nine-month highs amid concerns that escalating violence in Iraq could disrupt oil supplies. Traders also choose to be cautious before the WPI data for the month of May for more cues.
Markets are likely to open on a negative to flat note, tracking muted trends in other Asian peers as stocks fell on fears the insurgency in Iraq could worsen and affect oil exports. Domestic traders too would be tracking developments in Iraq, and be cautious before the WPI data to be released today, which may make market trade in red again.
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