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Market Outlook - 11th May 2016

Published on May 11th 2016


Indian markets are expected to open on a negative note tracking the SGX Nifty. There could be some knee jerk reaction after the news that India and Mauritius has signed the Double Taxation Avoidance Agreement under which capital gains earned by Mauritian entity will be taxable In India at the full domestic tax rate from FY1920 onwards. The SP 500 and Dow industrials steadily climbed to session highs Tuesday to end with their best oneday percentage gains in two months as oil prices rallied. The Dow Jones Industrial Average DJIA +1.26% surged 222 points or 1.3% to 17928. The percentage gain in both the SP 500 and Dow industrials was their biggest since March 11. Meanwhile the Nasdaq Composite Index COMP +1.26% climbed 59.67 points or 1.3% to 4809.88 its biggest oneday gain in a month. European stocks moved up Tuesday as gains for Credit Suisse AG and Volkswagen AG shares and an important breakthrough on the Greek debt crisis allowed investors to set aside di

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