Market Outlook - 03rd Aug 2016

Published on Aug 03rd 2016


Indian markets are expected to open in red tracking SGX Nifty. U.S. stocks bounced off session lows but still closed lower Tuesday marking 7th straight daily loss for Dow and ending 5day win streak for Nasdaq as investors sifted through quarterly results as well as data on personal income and inflation. For Dow Pfizer Inc. led the decline. The 7th day of losses for bluechip gauge marks its longest losing streak in about a year according to FactSet. SP 500 closed in red with 9 of the 10 main sectors trading lower led by the Consumerdiscretionary and Industrials. Energy stocks gained 0.1% following Mondays ugly selloff. London markets fell as Banking sector stocks remained under pressure. Notably Barclays and RBS fell 3.57% and 1.75% respectively. Sentiment in Banking sector was hit by news from Germanys Commerzbank which saw its shares fall 8% after warning of lower profits this year. After trading high from opening equity benchmarks lost shine in afternoon trad

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