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Market Outlook - 11th Mar 2016

Published on Mar 11th 2016

IT

Indian markets are expected to open flat tracking the SGX Nifty and mixed Asian cues. US markets failed to sustain initial gains witnessing a choppy session before closing on a flat note. Markets opened higher after the ECB stimulus measures. However the positive sentiment was offset as ECB President said he does not anticipate the need for further rate cuts. European markets opened on a cautious note ahead of the ECB meet. The European Central Bank delivered more than what markets hoped by cutting its benchmark interest rate to zero and expanding its asset purchases among other steps. Markets saw a sharp upmove post the announcement but could not sustain the gains as investors took the opportunity to lock in some profits. Weakness in crude oil prices also contributed to the late day selloff. Markets witnessed some profit booking after a six day post budget rally as caution ahead of a key European Central Bank meeting and January IIP data triggered some profit taking.

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