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Market Outlook - 24th May 2016

Published on May 24th 2016

IT

Indian Markets are expected to open in the red tracking the SGX Nifty and weak Asian cues. U.S markets closed flat after a lack of direction led by concerns of a rate hike by the US Fed and continued sluggishness in corporate earnings. Markets continue to brace for the possibility that there could be more than one hike this year. European markets traded briefly in the green trading negative for most part of the day finally ending with modest losses. An unexpected decrease in Eurozone private sector data disappointed traders. Indian shares ended modestly lower due to mixed global cues and weakness in rupee for the seventh consecutive session. Investor sentiment dampened ahead of the FO expiry of May series derivative contracts which is due on Thursday.

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