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Market Outlook - 29th Dec 2016

Published on Dec 29th 2016

IT

Indian markets are likely to open negative tracking SGX Nifty and global cues. The US markets gave up early gains ending broadly lower and near session lows on Wednesday with losses led by the tech sector. The The bluechip gauge The Dow Jones Industrial average ended the day down 0.6% to end at 19834. The SP 500 declined 0.8% to 2250. The Nasdaq Composite lost 0.9% to settle at 5439 a day after closing at a record. The FTSE 100 hit a new high for the year as shares posted solid gains in the first day of trading since the Christmas break. The FTSE rose 0.5% to 7102 points above the close of 7098 points on 10th October. The bluechip index is also close to the record close of 7104 points reached on 27th April 2015. The rally was the result of optimism in the American economy with data earlier this week showing consumer confidence in the US had hit a 15year high. Yesterday Indian markets wiped off all its gains to end in the red with as cautious investors took

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