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Market Outlook - 02nd May 2016

Published on May 02nd 2016

IT

Indian markets are expected to open on a negative note tracking the SGX Nifty and weak global cues. US indices ended in red extending the selloff seen in the previous session. The weakness on Wall Street came on release of a batch of disappointing U.S. economic data as well as a negative reaction to some of the latest earnings disappointments from bigname companies such as oil giant Chevron (CVX). The European markets ended solidly in negative territory as the investor sentiment took a hit led by sharp selloff on Wall Street and weak Asian markets. Further the Bank of Japan decision to refrain from adding stimulus measures and disappointing US GDP data also added to the negative sentiment. Indian shares ended on a flat note after steep losses in the previous session. While global cues remained negative in view of a stronger yen and the release of disappointing U.S. GDP data Indian markets managed to erase early losses after hitting a twoweek low earlier in the day.

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