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Market Outlook - 01st Dec 2016

Published on Dec 01st 2016

IT

Indian market is expected to open on a positive note tracking the SGX Nifty. U.S. markets closed mixed Wednesday as investors eyed a sharp rally in oil prices amid a batch of economic reports. The Dow Jones Industrial Average edged up 0.01% to 19124. The SP 500 fell 0.27% to 2199. The OPEC on Wednesday decided to cut its oil output by 1.2 million barrels per day setting the ceiling of oil production at 32.5 million barrels per day. The reduction is effective from January 01 2017 and is the cartel first oil reduction since 2008. The reduction is being coordinated with the nonOPEC country Russia who promised to cut its production by 300000 barrels per day. U.K. markets strengthened on Wednesday with a deal by OPEC to cut production prompting gains for energy shares. The FTSE 100 closed up 0.2% at 6784 but backed off an intraday increase of 1.1% as basic material consumerservices and utility shares were pushed down. Indian markets rallied for the fourth consec

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