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Market Outlook - 04th May 2016

Published on May 04th 2016

IT

Indian markets are expected to open on a negative note tracking the SGX Nifty and weak global cues. US markets ended in red amid global economic jitters. Disappointing manufacturing data from China and a surprise rate cut in Australia led investors to take limited risk by moving out of stocks. Falling crude oil prices led to decline in energy stocks but Apple shares rose to snap a prolonged losing skid. The European markets ended in the red. Weaker than expected manufacturing data from China weighed heavily on mining and resource stocks. Financial stocks were also under pressure after disappointing earnings from banks like UBS and Commerzbank. Indian stocks reversed early gains to end sharply lower tracking weak European cues and lackluster movements in the rupee. The early rally faded soon as European markets fell sharply to hit a threeweek low amid sluggish bank earnings continued strength of yen a firmer euro and disappointing manufacturing data from China.

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