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Market Outlook - 16th Dec 2015

Published on Oct 14th 2015

IT

Indian markets are expected to open negatively tracking the SGX Nifty and its Asian peers. US stocks closed in the red snapping the seven day uptrend. Decline in oil prices and further indications of slowdown in the Chinese economy weighed on the investor sentiments. European indices declined for the second consecutive trading session. Poor Chinese data took a toll on commodity and luxury goods shares. Indian markets closed marginally in the red led by metal and telecom stocks. Metal heavyweights such as Tata Steel Vedanta and Hindalco were under pressure (losing about 3%) owing to weak trade data from major consumer China. Oil marketing companies such as BPCL HPCL and IOL rose due to lower crude prices helping to arrest decline in the indices.

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