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Market Outlook - 02nd Aug 2016

Published on Aug 02nd 2016

IT

Indian markets are expected to open flat tracking SGX Nifty. U.S. stocks lost momentum to finish mostly lower Monday as crudeoil futures returned to bearmarket territory and weakerthanexpected manufacturing data raised doubts about economy strength. SP 500 was down 0.1% after the largecap index hit a record intraday high of 2178.29. A 3.3% drop in Energy sector dragged SP 500 into negative territory outweighing modest gains in healthcare and tech stocks. Nasdaq Composite Index climbed up 0.4% to end at 5184 boosted by appetite for tech giants including a 1.8% jump in shares of Apple Inc. U.K. stocks erased earlier gains and ended lower on Monday following data confirming sharp deterioration in British manufacturing activity in the wake of the Brexit vote. FTSE 100 lost 0.5% to close at 6694 after having been up much as 0.7%. The index had earlier traded above its 2016 closing high of 6750 logged on July 27. The biggest riser was the giant mining group Angl

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