Money Tree

GLOBAL MARKETS

US Markets

The US markets tumbled on Thursday after French bank BNP Paribas froze three funds indicating the spread of US subprime crisis. The DOW fell about 3 percent yesterday.

Dow Jones closed at 13270.68 down 387.18 points or2.83 percent.
Nasdaq Composite closed at 2556.49 down 56.49 points or 2.16 percent .

Europian Markets

The Europian markets saw a cut of about 2 percent on freezing of redemptions by BNP Paribas from its three funds.

FTSE (UK) closed at 6271.20 down 122.70 points or 1.92%. .
DAX (Germany) closed at 7453.59 down 152.35 points or 2.00%
CAC (France) closed at 5524.78 down 124.51 points or 2.17%.

Asian Markets

The Asian markets closed mixed on Thurssday.

NIKKEI(JAPAN) closed at 17170.6 up 141.32 points.
HANG SENG (HONG KONG) closed at 22439.36 down 97.31 points.
KOSPI (SOUTH KOREA) closed at 1908.68 up 5.27 points.
STRAITS TIMES (SINGAPORE) closed at 3413.17 up 111.16 points.
Composite Index (CHINA) Closed at 4754.09 up 90.93 points.
SENSEX (INDIA) closed at 15100.15 down 207.83 points.
NIFTY (INDIA) closed at 4403.2 down 58.9 points.

FOREX

USD/ INR 40.53
EUR/ USD 01.36
USD/ JPY 118.375

GOLD

8810/ 10gm

CRUDE

$71.59/ Bb

Today’s Market outlook

The global crisis is still not over, the US sub prime woes are worsening and spreading across the globe. The US and Europian markets are down more than 2 percent and Asian markets have opened down 2 to 4 percent, we expect a gap down opening in the morning and the NIFTY might break the last crucial support of 4270.