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Market Outlook - 28th Jun 2016

Published on Jun 28th 2016

IT

Indian markets are expected to open on a Marginally Negative note tracing Global cues. US Stocks closed sharply lower on Monday led by steep decline in bank stocks. The selloff followed the markets plunge on Friday as the traders continued to react negatively to UKs decision to leave the European Union (BREXIT). European Markets were hammered once again on Monday as aftershocks from Britains vote to leave the European Union continued to haunt the markets. Banking stocks were among the biggest drags as BREXIT is expected to put more pressure on bank earnings and have lasting repercussion on the outlook for the sector. Indian shares ended Mondays choppy trading session on a marginally positive note. Positive cues from the Asian markets and forecast of extended monsoon were able to offset concerns of BREXIT.

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