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Market Outlook - 17th Oct 2016

Published on Oct 17th 2016

IT

Indian markets are expected to open in the red tracking the SGX Nifty and weak Asian cues. U.S. markets closed slightly higher Friday finishing near lows of the session to turn in a second losing week in a row after a trio of quarterly bank results topped analyst estimates and Federal Reserve Chairwoman Janet Yellen said there may be benefits to running the economy with a tight labor market. European markets ended Fridays session solidly in positive territory following the losses of the past 3 sessions. Financial stocks were a source of strength after a trio of major U.S. banks reported stronger than expected quarterly results. Automakers jumped after the release of European car sales data and mining stocks received a boost from the Chinese inflation data. Indian markets on Friday closed on a flattopositive note on the back of positive inflation macrodata points and value buying.

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