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Arq - The Hyper Intelligent Investment Engine By Angel Broking

Market Outlook - 13th May 2016

Published on May 13th 2016


Indian markets are expected to open in negative zone tracking SGX Nifty. Concerns about slowing sales at Apple dragged the companys share price down 2.4% on Thursday causing losses on the wider Nasdaq index. Dow Jones Industrial Average gained 0.1% on the back off of gains in oil prices. Exxon Mobile and Chevron shares both climbed 1% while the price of a barrel of US crude rose by 0.6% to 46.51. Londons FTSE 100 dipped in afternoon trading with mining stocks dragging the index down. The downturn reversed an earlier rise in the wake of the Bank of Englands inflation report and decision to leave interest rates unchanged. Anglo American led the losers list down 6.9% while Antofagasta and Glencore fell by 4.6% and 4.2% respectively. After the initial negative reaction on Wednesdays trade over amendments to the Mauritius Double Tax Avoidance Agreement (DTAA) Indian markets ended the day in green. We sense positive news flow on the monsoon front to cheer up the market investors.

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