Money Tree

GLOBAL MARKETS

US Markets

The US markets rallied on Tuesday on back of a 50 basis points funds rate cut and a 50 basis points rate cut on discount rate by the Fed.

Dow Jones closed at 13739.39 up 335.97 points or 2.51 percent.
Nasdaq Composite closed at 2651.66 up 70.00 points or 2.71 percent.

Europian Markets

The Europian markets also posted handsome gains on Tuesday.

FTSE (UK) closed at 6283.30 up 100.50 points or 1.63%.
DAX (Germany) closed at 7575.21 up 95.36 points or1.27%
CAC (France) closed at 5549.35 up 109.98 points or 2.02%.

Asian Markets

The Asian markets closed mixed on Tuesday.

NIKKEI(JAPAN) closed at 15801.8 down 325.62 points.
HANG SENG (HONG KONG) closed at 24576.85 down 22.49 points.
KOSPI (SOUTH KOREA) closed at 1838.61 down 33.07 points.
STRAITS TIMES (SINGAPORE) closed at 3477.75 up 1.44 points.
Composite Index (CHINA) Closed at 5421.392 up 109.21 points.
SENSEX (INDIA) closed at 15669.12 up 164.69 points.
NIFTY (INDIA) closed at 4546.2 up 51.55 points.

FOREX

USD/ INR 40.48
EUR/ USD 01.38
USD/ JPY 115.735

GOLD

9470/ 10gm

CRUDE

$81.51/ Bbl

Today’s Market outlook

The US FED has surprised the markets by a 50 basis points rate cut and the global markets are partying the move. The US markets have risen a record high yesterday and the Asian markets are up between 2 to 3 percent. We expect that the Sensex will reach its all time high today and the markets are expected to open gap up.