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Market Outlook - 29th Feb 2016

Published on Feb 29th 2016


Indian markets are expected to open on a Negative note tracking the SGX Nifty and its Asian peers. US markets failed to sustain its initial gains and turned in a lacklustre performance on Friday. The choppiness came as traders reacted to release of US economic data. Early in the session the commerce department had released reports showing increase in personal income and spends easing concerns of recession. However the data also led to renewed worries about the outlook for interest rates. The European markets ended Fridays session in the green as jump in metals prices boosted mining companies and encouraging company updates also supported the market. The markets also got support from positive opening witnessed in the US markets. Indian markets posted their first gains in four sessions on Friday after the economic survey from the finance ministry called for fiscal prudence and stable inflation.

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