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Arq - The Hyper Intelligent Investment Engine By Angel Broking

Market Outlook - 29th Sep 2016

Published on Sep 29th 2016


Indian markets are likely to open on a positive note considering global cues. The U.S. markets swung higher Wednesday after OPEC member countries reached a consensus to limit crude production and is considering cutting production to between 32.5 million to 33 million barrels a day. The SP 500 index rose 0.5% while Dow Jones Industrial Average rose 0.6% led by a 4.3% surge in the energy sector. The rally in crude is one of the driving forces along with the bounce in Deutsche Bank. Despite the initial euphoria over OPECs move to tackle the supply glut some analysts questioned how effective the measure will be given that the production cap exceeds OPECs average of about 30 million barrels a day. After shaky start to the week FTSE 100 rebounded buoyed by a bounce in commodityrelated stocks. The UK Index climbed 0.61% due to sharp gains in the mining stocks such as Rio Tinto BHP Billiton Anglo American and Antofagasta. The boost came as nickel prices neared sevenmonth

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