Market Outlook - 29th Jan 2016

Published on Jan 29th 2016


Indian markets are expected to open in red tracking the SGX Nifty. U.S. indices ended in green as rise in oil prices and gains in Facebook outweighed pressure from declines in biotech stocks and concerns about economic growth. The major averages ended off session highs but recovered from an intraday dip into negative territory. FTSE 100 endured another wildly unpredictable trading session. The bluechip index rallied 0.5% before nosediving 1%. Volatility was spurred by huge swings in oil amid rumors of production cuts. Brent crude spiked up after reports Saudi Arabia had proposed that oilproducing countries slash output by up to 5%. Commodity stocks were among top FTSE risers. Royal Dutch shares advanced 2% while BG Group added 1.4%. Both oil majors enjoyed an additional boost after BGs shareholders voted through Shells £40bn takeover. Indian market ended lower amid volatility on January Future and Options (FO) series expiry day. Sensex has shed 6.3% and Nifty lost 6.6

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