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Market Outlook - 08th Aug 2016

Published on Aug 08th 2016

IT

Indian markets are likely to open in positive note tracking SGX Nifty and Global markets. The US market gained strongly after a better than expected job data by the US Labor Department. The nonfarm payrolls saw an addition of 255000 jobs against expectations of ~1 and 80000 jobs. It is expected that the US Fed might still wait for GDP growth to improve and inflation to move closer to its 2% target before taking a call on the rate hike. The European markets which were already strong post rate cut by BoE got further strength after strong job data by the US Labor department. The Indian markets gained strongly on Friday on the back of broad based buying across all sectors. Rate cut by Bank Of England to a historic low and further increasing the QE resulted in global rally and this also was partly the reason for the rally in Indian markets. While after the passage of GST the Indian markets didn’t react much a day after the historic event the key sectors like Cement and Au

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