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Market Outlook - 17th Feb 2017

Published on Feb 17th 2017

IT

Indian markets are likely to open flat with a positive bias tracking SGX Nifty. U.S. market indexes snapped a multisession streak of simultaneous records Thursday weighed down by a decline in energy stocks with the Dow industrials the only index to gain another record high at the close. The majority of the European markets ended Thursdays session with modest losses. Profit taking played a role in the pullback after the markets enjoyed seven straight sessions of gains. Bank stocks turned lower following yesterdays rally and mining stocks weakened along with metal prices. Indian markets rebounded from two days of losses on Thursday with IT stocks leading the surge after TCS Indias largest software company said its board of directors would consider a proposal for buyback of equity shares at its meeting to be held on February 20 2017.

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