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Market Outlook - 30th May 2016

Published on May 30th 2016

IT

Indian Markets are expected to open in the green tracking the SGX Nifty and Global cues. The benchmark US stock indexes gained on Friday with the Nasdaq Composite and the Standard Poors 500 at their highest levels since March after Federal Reserve Chair Janet Yellen hinted at the likelihood of interestrate hike in coming months. Investors shrugged off concerns about higher borrowing cost as the possibility of rate hike in near future indicated that the US economy is improving. European shares were steady on Friday fluctuating between modest gains and losses. Investors were reluctant on making major moves ahead of Janet Yellens remarks. Swiss stocks extended their winning streak while Pharma stocks were up after drug maker Roche gained on announcing positive results for one of its drugs. Indian markets rose by more than 1% on Friday registering their fourth consecutive session of gains. The markets gained on solid earnings posted by companies like BPCL and SBIN.

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