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Market Outlook - 10th Jan 2017

Published on Jan 10th 2017

IT

Indian markets are likely to open flat with a positive bias tracking SGX Nifty. U.S. markets had a mixed session with energy stocks moving downward on lower oil prices. The NYSE Arca Natural gas Index fell by 2.4 percent while the NYSE Arca Oil Gas Index slid by 1.4 percent. Lack of economic data as well as upcoming earnings updates from financial giants Bank of America (BAC) JPMorgan Chase (JPM) and Wells Fargo (WFC) kept trading activity low during the session. The FTSE closed positive in spite of negative news regarding Brexit and economic data. The British pound drifted lower on worries over the likelihood of a hard Brexit after comments by the U.K. Prime Minister. British house price inflation accelerated unexpectedly at the end of the year. House prices climbed 6.5 percent in three months to December YoY. This was against an expected inflation of 5.8 percent. Indian Market closed flat on Monday as investors await the third quarter earnings results as well as data relatin

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