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Market Outlook - 11th Aug 2016

Published on Aug 11th 2016

IT

Indian markets are likely to open negative after witnessing selling pressure in the previous trading session. The US markets opened directionless and remained lackluster. However a drop in oil prices led to some selling and the key indices closed moderately lower. Snapping consecutive gains the European markets ended on a lower note. Investors seem to have taken the opportunity to book some profit and hence there was marginal decline in the indices. The Indian markets remained under of pressure on Wednesday and selling across the board was witnessed. The largest losers were cement stocks. Grasim Industries was the biggest loser in the nifty. In the absence of any specific data points it seems profit booking could be reason for the sharp fall in the market today. As the results season comes to end the Indian markets will now look forward for global developments and react accordingly.

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