Market Outlook for 16 August 2016
August 16, 2016Posted By Admin
The domestic equity indices are likely to open on a cautious note on Tuesday and may trade in a range after mixed economic data on consumer price inflation and industrial production, which were released post market hours on Friday.
An overnight rise in the US stocks may influence the sentiment when the market resumes trading on Tuesday. Asian Markets were trading mixed with NIKKEI down 1%, KOSPI flat and TAIWAN down 0.4%.
The domestic WPI data will be released during the day. The PPI numbers for euro zone, and industrial production, housing starts and CPI numbers for the US are also scheduled for release later in the day.
The domestic market was closed on Monday on account of Independence Day. In the last leg of the earnings season, a few companies would announce the numbers on Monday, which could trigger stock-specific actions.