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Market Outlook - 20th Oct 2016

Published on Oct 20th 2016

IT

Indian markets are likely to open positive tracking Asian markets and SGX Nifty. U.S. stocks closed higher on Wednesday with energy companies the biggest gainers of the day as crude prices climbed nearly 2%. Sentiment was also lifted by strongerthanexpected quarterly results from Morgan Stanley as well as the Federal Reserves Beige Book which indicated that the U.S. economy was continuing its modest albeit steady expansion. The Dow Jones Industrial Average closed up 0.2% to close at 18203 while SP 500 rose 0.2% to end at 2144. U.K. stocks reversed course to finish higher Wednesday supported by a rally in oil prices. Yesterday was a volatile day on the bourses for Indian markets as key benchmark indices oscillated between the positives and negatives. By the end of the day Sensex closed down 67 points as investors booked profit over mixed global conditions fueling from expected volatility arising from ECB meet scheduled this week. The rupee extended its gains by adding

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