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Market Outlook - 09th Aug 2016

Published on Aug 09th 2016

IT

Indian markets are likely to open in flat tracking SGX Nifty and Global markets. After the sharp run up in the last few days the markets might consolidate ahead of key monetary policy meet by RBI today. After seeing strong gains on Friday the US markets remained lackluster on Monday and ended the day with a marginal loss. After consecutive gains in the last few trading sessions the European markets remained largely flat on Monday. Though initially there here was good momentum there was lack of depth during the day and the impact of BoE’s rate cut and strong job data by US seems to have faded away. The Indian markets continued to gain on Monday with selective buying in across sectors. However banking stocks and in general mood in the markets remained cautious as all eyes are on the monetary policy meeting the last policy meet by Dr Raghuram Rajan.

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