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Market Outlook - 29th Jun 2016

Published on Jun 29th 2016

IT

Indian markets are expected to open in green tracing SGX Nifty and Global cues. US markets closed more than 1.5% up yesterday lifted by gains in oil prices as investors looked for bargains post the Brexit selloff. Analysts also pointed to improvement in sentiment after initial fears of significant negative spillover from the U.K. vote to leave the European Union. Energy gained over 2.6% and financials closed nearly 2.5% higher to lead all SP sectors higher. After 2 days of turmoil in the wake of Brexit vote European Markets eased as most of the indices rose by ~2% at yesterdays close. Recovery at FTSE was seen mostly across sectors that had been hit the most in last 2 trading sessions i.e. Banks Property Airline stocks. Shares of gold miners which performed well on Monday were amongst the biggest losers as Gold prices weekened. Indian indices gained strength in last couple of hours of trade on Tuesday as most of their European counterparts were up by ~2%. FMCG an

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