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Market Outlook - 28th Apr 2016

Published on Apr 28th 2016

IT

Indian markets are expected to open positive tracking the SGX Nifty and Asian cues. US markets recovered after an early downside after the US Fed left the interest rates unchanged as widely expected and its commentary indicating that the possibility of a June rate hike remains but without making any commitment. European markets got off to a weak start due to cautiousness ahead of the fed meet concerns over Greece and some mixed corporate results. However rising crude oil prices resulted in some positive movement in the later part of the day with markets ending Wednesdays session with modest gains. Indian markets witnessed choppy trade before ending the day marginally higher ahead of the FOMC decision and the FO expiry. Upstream players Cairn India Oil India and ONGC rose between 13% after U.S. crude oil futures jumped more than 3% overnight buoyed by a weaker dollar.

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