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Market Outlook - 06th Jan 2017

Published on Jan 06th 2017

IT

Indian markets are likely to open flat with a positive bias tracking SGX Nifty and global cues. The US market started the New Year with a positive bias but the momentum seems to be losing ground. Initially the markets lacked direction on Thursday but started trending down during the day. The US labor department will release its monthly job data today and hence traders might have avoided large positions resulting in a subdued market. European markets remained in a range bound trade during the day. The minutes of US fed was published after the closing of the European market yesterday and hence the European markets reacted positively initially but closed almost flattish for the day. Indian markets rallied on Thursday and broad based buying was witnessed across sector. Opinion poll conducted by a leading media groups indicated a positive surprise and chances of BJP wining the UP elections which fuelled expectations of more reforms and markets reacted positively. Further the

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