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Market Outlook - 16th Jan 2017

Published on Jan 16th 2017

IT

Indian markets are likely to open in red tracking SGX Nifty and Asian markets. While buying interest was somewhat subdued in US markets stocks managed to end Fridays trading mostly higher. With the gains on the day the techheavy Nasdaq reached a new record closing high. The mostly higher close on Wall Street came as traders digested earnings news from several financial giants as well as some key economic data. The European markets bounced back from Thursdays weak performance and finished Fridays session firmly in positive territory. Pharmaceutical stocks recovered some ground following yesterdays pullback. Comments from U.S. Presidentelect Donald Trumps press conference on Wednesday weighed on the sector on Thursday. Indian markets closed marginally lower on Friday to snap a threeday winning streak in spite of a good start to the earnings season with TCS and Infosys posting encouraging quarterly results.

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