Wednesday, 18 January 2017

Market may be tepid; investors cautious amid global uncertainty


Amid a weak global market scenario, the Indian market on Wednesday may see a subdued opening as indicated by the trend on SGX Nifty. Global markets fell on the back of uncertainty over Trump’s policies and talks of a hard Brexit gaining momentum after British PM Theresa May’s speech on Tuesday. Asian markets too saw a negative start, tracking global cues. Nikkei fell 0.39 percent amid a strong yen. South Korea's Kospi slipped 0.21 percent. 

The Wall Street ended lower, with financials lagging as well as Trump’s views on dollar being too strong. The developments also pushed up bond yields as investors looked for safe havens. The dollar fell to a four-week low, moving lower against all group of 10 currencies with sterling leading the charge.

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