The Indian equity market is expected to open higher a day after the Nifty traded volatile. The SGX Nifty, an indicator of the market opening was trading at 8546.50, up 10.50 points at 7:20. The market ended its four-day winning streak on profit booking post RBI announced its third bi-monthly policy review. Overall, it was a volatile session for the market as the Sensex plunged more than 300 points intraday and Nifty breached 8500 but managed to cut losses in later part of session.
In other asset, Crude prices saw slight recovery, but high global production and concern over the economic outlook in China weighed in on the outlook. Brent crude, meanwhile, was trading above USD 50 per barrel. Pressured by dollar strength, gold continued to struggle around the USD 1080 mark. Platinum dropped to the lowest in 6.5 years and Palladium to the lowest since late-2012 on oversupply and sluggish auto catalyst demand.
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