Market Outlook - 28th Jan 2016

Published on Jan 28th 2016


Indian markets are expected to open flat tracking the SGX Nifty. U.S. stocks closed more than 1% lower on Wednesday despite high oil prices as disappointing quarterly reports weighed and Fed statement renewed concerns about the global economic growth. As expected Fed kept rates unchanged but commented that it was closely monitoring global economic and financial developments. Lower than expected results led to 6.5% and 8.9% correction in the Apple and Boeing stocks respectively. Britains benchmark index FTSE backtracked in the afternoon trade reversing its losses made earlier in the day. On the back of higher oil prices despite jitters about the state of the Chinese economy FTSE 100 closed up 1.3%. Shell shareholders approval of the £40bn takeover of BG Group helped both companies shares advance by ~3%. Indian stock markets ended almost on a flat note after swinging between minor gains and losses as investors avoided risky bets ahead of U.S. Federal Reserve policy

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