Markets open weak;Infosys down 1%.

Markets have opened weak tracking the decline in their Asian peers. Appreciating Yen and slump in Gemany's factory output supressed Asian markets. Uncertainty about global economic health increased as IMF's World Economic Report (WEO) reduced the global growth estimate from 3.4% to 3.3%.

Foreign funds were net sellers in equities to the tune of Rs 332.84 crore on Tuesday.

Later in the day market movement is likely to get affected by the minutes of the Forward Open Market Committee's last policy meeting.

“The global correction that is happening is finally catching up with Indian markets. There are worries regarding global liquidity, with the US stimulus programme ending and talks of an interest rate hike,” said Hemant Kanawala, head of equity, Kotak Life Insurance.

At 9.15 AM, Sensex is trading at with a lossof 25points while Nifty is at 7844with a loss of 6 points.

The WEO however, is bullish on the growth outlook of India. It revised growth forecasts of India for this financial year from 5.4% to 5.6% while attributing its new stance to  the favourable policies of the National Democratic Alliance government. Next year forecast remains at 6.4%.

“India has recovered from its relative slump and, thanks in part to policy and a renewal of confidence, growth is expected to exceed five per cent again,” IMF chief economist Olivier Blanchard said in a statement released by the Fund on Tuesday.

Asian markets were trading lower on Wednesday amid growth concerns in China. Further, China's services sector growth slipped in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world's second-largest economy. The services purchasing managers' index (PMI) compiled by HSBC/Markit pulled back to 53.5 in September from a 17-month high of 54.1 in August.

Shares in Japan were down on the back of a stronger yen. The benchmark Nikkei was down 1.5%. Hang Seng slipped 0.8% while shares in mainland China were trading marginally lower. Further, Straits Times was down 0.5%.

US stock ended lower on Tuesday amid growth concerns in Germany industrial output in August slumped to 4%, the highest fall in 5 1/2 years. The Dow Jones ended down 272 points at 16,719.39, the broader S&P 500 slipped 30 points to close at 1,935.10 and the tech-laden Nasdaq ended down 70 points at 4,385.20