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Market Outlook - 24th Oct 2016

Published on Oct 24th 2016

IT

Indian markets are likely to open sideways tracking Asian markets and SGX Nifty. U.S. stocks closed mildly positive on Friday as the latest batch of earnings results came in. Microsoft closed 4.3% higher after the company announced results that exceeded forecasts. Natural gas stocks moved lower due to pressure on commodity prices and a weaker than expected result by Southwestern Energy. UKs FTSE 100 closed slightly higher in a choppy trading session as investors awaited for the outcome of the Brexit negotiations. Mining company BHP Billiton rose around half a percent after Jac Nasser the chairman announced his resignation. Royal Dutch Shell was down about half a percent due to lower oil prices and an announcement that Shell would be selling their noncore oil and gas assets in Canada to Tourmaline Oil. Indian stocks closed slightly lower on Friday. The IT index closed 1% higher on an earnings beat by HCL and an inline result by Wipro. Reliance Industries fell by over 2% despite po

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