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Market Outlook - 21st Oct 2016

Banking | Published on Oct 21st 2016

IT

Indian markets are likely to open sideways tracking Asian markets and SGX Nifty. U.S. stocks closed lower Thursday as a sharp drop in oil and telecommunications shares weighed on investors sentiment. Investors also grappled with a mixed bag of economic data earnings results a steep drop in crudeoil prices the prospect of a rate increase by the Federal Reserve and tumult wrought by the U.S. presidential election. UKs FTSE 100 edged into positive territory at the end of Thursday trading. Indian stocks advanced to a twoweek high as over positive sentiment on the banking sector. The SP BSE Sensex ended up 145 points at 28129.84 and the Nifty50 settled 40 points higher at 8699.40. The mood in the market has changed over positive earnings and fresh buying seen in banking space. The market will track the US elections and corporate earnings which will decide the course of the market going ahead

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