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Market Outlook - 23rd May 2016

Published on May 23rd 2016

IT

Indian Markets are expected to open in the green tracking the SGX Nifty and global cues. U.S markets closed in the positive led by some value buying post three consecutive sessions of weakness on account of concerns about an increase in US interest rates next month. The European markets ended Fridays session firmly in positive territory following the steep losses of the previous day. Strength in the Asian markets and recovery in commodity prices also helped the markets. Indian markets witnessed some selling pressure in the last hour of the trading session after trading in the green for most part of the day. Pharma major Lupin crashed 8% despite better than expected results due to USFDA concerns at its Goa plant.

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