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Market Outlook - 22nd Nov 2016

Published on Nov 22nd 2016

IT

Indian market is expected to open on a positive note tracking the SGX Nifty. The US markets advanced on Monday aided by a jump in oil prices and a retreat in the dollar with the main index closing at alltime highs. Oil prices rose to a 3week high as Russian President Vladimir Putin fed expectations for an OPEC output deal. The SP 500 index closed 0.8% higher at 2198 with energy and materials leading gains. The Dow Jones Industrial Average added 0.5% to 18957. FTSE 100 edged up on Monday getting a lift from gains by mining and energy stocks as commodities rallied. The index finished less than 0.1% higher at 6778 advancing slightly after the benchmark scored two up weeks in a row. Yesterday Indian markets erased all their gains so far this year and the rupee closed at a fresh ninemonth low as foreign institutional investors find dollar assets more attractive. FIIs have pulled out a combined 3 billion from local equity and bond markets since the US election that sa

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