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Market Outlook - 07th Oct 2016

Published on Oct 07th 2016

IT

Indian markets are likely to open flat tracking global markets and SGX NIFTY. After recovering from an early move to the upside the major US indices remained lackluster during the day on Thursday. The major indices remained broadly in narrow range throughout the day ahead of monthly job data and finally ended the day with slight negative note. The European markets closed marginally negative and traded in narrow range for the day ahead of key job data to be announced by the US. Airlines and mining stocks remained under pressure during the day. Indian markets closed with a negative note on Thursday amid profit booking. An upward move in crude oil and marginal weakening in the INR vs US could have raised some concern as well.

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