Money Tree

GLOBAL MARKETS

US Markets

The US markets closed negative on Wednesday.

Dow Jones closed at 13918.22 down 53.33 points or 0.38 percent.
Nasdaq Composite closed at 2699.49 down 12.80 points or 0.47 percent .

Europian Markets

The Europian markets saw a sharp cut on Wednesday, DAX and CAC slipped more than 1.5 percent.

FTSE (UK) closed at 6567.10 down 92.00 points or 1.38%. .
DAX (Germany) closed at 7893.61 down 144.60 points or 1.80%
CAC (France) closed at 5995.97 down 103.24 points or 1.69%.

Asian Markets

The Asian markets also weak on Wednesday.

NIKKEI(JAPAN) closed at 18015.58 down 201.69 points.
HANG SENG (HONG KONG) closed at 22841.92 down 215.38 points.
KOSPI (SOUTH KOREA) closed at 1930.7 down 18.81 points.
STRAITS TIMES (SINGAPORE) closed at 3583.97 down 67.08 points.
Composite Index (CHINA) Closed at 3930.06 up 33.869 points.
SENSEX (INDIA) closed at 15301.17 up 11.35 points.
NIFTY (INDIA) closed at 4499.55 up 2.8 points.

FOREX

USD/ INR 40.41
EUR/ USD 01.37
USD/ JPY 122.090

GOLD

8765/ 10gm

CRUDE

$75.05/ Bb

Today’s Market outlook

The US and Europian markets were down on earnings and mortgage concerns, the rising crude (now above $75 per barrel) is also a concern. Yesterday our markets slipped sharply and Sensex had lost more than 100 points at one point of time but in the last one hour of trade some buying emerged in Metals, Telecom and real estate sectors and pulled the markets back in the positive territory and the markets closed marginally in the green. The NIFTY closed at almost 4500, today the Asian markets are less or more flat and WIPRO has come out with the expected results, Net profit of the company stood at Rs. 726 crore versus Rs. 856 crore and the Net sales stood at Rs. 4203 versus Rs. 4333 crore in the corresponding previous quarter. But the markets are more eagerly waiting for the DLF results as it has emerged as a leader of the driving sector and if DLF comes out with a good result and justifies its valuations, then we may see further rally in the construction and real estate sector. The markets are expected to remain volatile during the day.