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Market Outlook - 09th Dec 2016

Published on Dec 09th 2016

IT

Indian market is expected to open on a positive note tracking the SGX Nifty and strong global markets. Following the rally seen in the previous session stocks saw some further upside during the day on Thursday and the US markets continued it upward move. With the continued strength on Wall Street all three of the major averages reached new record closing highs. The higher close on Wall Street came on the heels of the European Central Bank highly anticipated monetary policy announcement. The European markets were largely flat in early trade on Thursday ahead of today announcement from the European Central Bank. However they broke out higher after the central bank surprised the markets. The ECB announced that bond purchases will be extended till the end of next year which is longer than expected. After reacting negatively to the RBI’s policy the Indian markets looked back at global cues and witnessed strong buying interest across board. Rate sensitive stocks which had w

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