Money Tree

GLOBAL MARKETS

US Markets

The US Markets closed higher yesterday as companies like Yum Brands (up 4.9 percent) announced good quarterly results with healthy forecast of future earnings.

Dow Jones closed at 13577.87 up 76.17 points or 0.56 percent.
Nasdaq Composite closed at 2651.79 up 12.63 points or 0.48 percent .

Europian Markets

The Europian markets closed in the red on fears of US subprime Mortgages and high oil prices.

FTSE (UK) closed at 6615.10 down 15.80 points or 0.24%. .
DAX (Germany) closed at 7898.54 down 66.22 points or 0.83%
CAC (France) closed at 6001.09 down 18.13 points or 0.30%.

Asian Markets

The Asian markets also closed negative yesterday.

NIKKEI(JAPAN) closed at 18049.51 down 203.16 points.
HANG SENG (HONG KONG) closed at 22607.02 down 278.82 points.
KOSPI (SOUTH KOREA) closed at 1889.96 down 4.57 points.
STRAITS TIMES (SINGAPORE) closed at 3594.94 down 25.38 points.
Composite Index (CHINA) Closed at 3865.72 up 12.702 points.
SENSEX (INDIA) closed at 14910.62 down 99.26 points.
NIFTY (INDIA) closed at 4387.15 down 18.9 points.

FOREX

USD/ INR 40.38
EUR/ USD 01.37
USD/ JPY 121.78

GOLD

8711/ 10gm

CRUDE

$72.56/ Bb

Today’s Market outlook

Yesterday our markets digested the Infosys results without a severe cut which is a positive signal and shows that our markets are maturing. The IT sector was down as the future outlook of the sector is not good due to an appreciating rupee, but rest of the sectors including Midcaps and smallcaps continued to perform. The US markets recovered yesterday and Asia has opened in the green today, we may see a gap up opening in the morning as the worst of the quarterly results is over and the Sensex would conquer 15000 once again and should stay above it during the day. GMR Infrastructure, DLF, HUL, Indiabulls and JP Associates are looking good.