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Market Outlook - 16th Dec 2015

Agrichemical | Published on Dec 24th 2015

IT

Indian markets are expected to open positive tracking the SGX Nifty and Asian peers. US indices ended the day in positive territory with energy stocks leading the way higher. The strength on Wall Street was partly due to a substantial increase by the price of crude oil which climbed further off its recent lows. Crude for February delivery jumped 1.36 to 37.50 a barrel amid the release of a report unexpectedly showing a sharp drop in crude oil inventories. The European markets ended Wednesday session with strong gains. A bullish oil price forecast from OPEC provided a boost to energy stocks. OPEC said it expects the price of its crude oil to rise back toward 70 a barrel by 2020. Indian markets ended positively led by global cues coupled with a firmer rupee encouraging current account data and optimism about the progressive nature of the new bankruptcy code lifted Indian shares to nearly threeweek highs on Wednesday. The Insolvency and Bankruptcy Code has been referred

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