Indian markets are expected to open in the green tracking the SGX Nifty.
Oil prices rallied 10% as frigid weather across U.S.A and Europe boosted the energy
demand. Bounce back in the oil prices led to 2% rally in benchmark SP 500 which
registered its first positive week in 2016. Energy stocks led the rally with Exxon Mobil
ending up 3.3%. Also SP Energy Index .SPNY was up 4.3%. Index rally was
supported by 5.3% runup in Apple stock ahead of its quarterly results.
FTSE 100 reported its first weekly gain in a month as oil prices rebounded from
multiyear lows and investors cheered the prospect of more stimulus from European
Central Bank. Amongst the key gainers were BP (up 3%) BG Group (up 5%) and
Royal Dutch (up 5%).
Indian stock markets ended up 2% on Friday their biggest singleday % gain since
October as hints of more stimulus measures from European Central Bank lifted the
global markets. Most of the beaten down Banking Auto Oil and Infra stocks saw
short cov
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