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Market Outlook - 05th Aug 2016

Published on Aug 05th 2016

IT

Indian markets are likely to open in positive note tracking SGX Nifty and Global markets. The European markets closed with strong gains as the Bank of England cut its main lending rates to 0.25% from 0.50%. This is the first rate cut by the BOE after 2009 and the has signaled for a further rate cut by the end of this year. Accordingly the rates going ahead will be close to but little above zero. Further the bank has increased the bond buying program (quantitative easing by 60 Bn Pound) to 435 Bn Pound. The US market closed flat ahead of key data that is the july job data. As per a poll the median estimates are addition of 188000 jobs. The Indian markets remain volatile during Thursday and closed with a marginal gain.Thoug in a historic move the Rajya Sabha passed the GST amendment bill market participant remains sidelined and there was lack of buying both.

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