Money Tree

GLOBAL MARKETS

US Markets

The US Markets ended up with Nasdaq posting more than 1 percent gains on friday.

Dow Jones closed at 13639.48 up 85.76 or 0.63 percent.
Nasdaq Composite closed at 2626.1 up 27.30 points or 1.05 percent.

Europian Markets

The Europian Markets rallied further yesterday with DAX up more than 2 percent.

FTSE (UK) closed at 6732.40 up 82.50 points or 1.24% .
DAX (Germany) closed at 8030.64 up 181.48 points or 2.31%
CAC (France) closed at 6105.28 up 58.05 points or 0.96% .

Asian Markets

The Asian markets also closed in the green except India which closed almost flat with a negative bias.

NIKKEI(JAPAN) closed at 17971.49 up 129.2 points. .
HANG SENG (HONG KONG) closed at 21017.05 up 149.79 points.
KOSPI (SOUTH KOREA) closed at 1772.26 up 3.08 points.
STRAITS TIMES (SINGAPORE) closed at 3581.16 up 7.73 points.
SENSEX (INDIA) closed at 14162.71 down 41.01 points.
NIFTY (INDIA) closed at 4171.00 up 1.45 points.

FOREX

USD/ INR 40.85
EUR/ USD 01.33
USD/ JPY 123.465

GOLD (MCX)

8785/ 10gm

CRUDE

$68.25/ Bb

Today’s Market outlook

On friday our markets opened very strong and lost all the gains of the day in the last one hour. The NIFTY was not able to hold above 4200 levels, this also indicates that it is becoming more and more difficult for the markets to move up and may be the smart money is selling on rallies marking a correction ahead. Today the global cues are very positive the US markets have closed wiht gains and Aisa has opened strong with Nikkei up more than 2 percent. We expect a good opening and the NIFTY should cross 4200 levels in the morning but it remains to be seen whether the markets will be able to hold these levels or profit booking will bring them down again.