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Market Outlook - 02nd Sep 2016

Published on Sep 02nd 2016

IT

Indian markets are expected to open flat with negative bias tracking SGX Nifty. U.S. stocks closed mostly flat Thursday as investors digested a slew of economic data ahead of Fridays key jobs report. Dow closed about 15 pts high after briefly falling more than 100 pts. SP 500 fell less than point after being dragged by 1% fall in financials. Utilities were the greatest laggards at the close. ISM manufacturing index for August came in at 49.4 weakest since January. Markit manufacturing PMI index meanwhile came in at 52.0. U.K. stocks turned lower Thursday with many shares falling victim to surge in pound after U.K. manufacturing data surprised investors with unexpectedly strong reading. FTSE 100 fell 0.5% relinquishing an earlier gain of 0.7% that was led by the basic materials and financial groups. Thursdays loss marked the 3rd in row for the London benchmark. Leading bluechips ended low shares of Vodafone fell 2.8% Hikma Pharma was down 2.5% and drugmaker Glaxo

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