Money Tree

GLOBAL MARKETS

US Markets

The US markets rallied almost 2 percent after US FED announced a cut in the discount rate.

Dow Jones closed at 13079.08 up 233.30 points or 1.82 percent.
Nasdaq Composite closed at 2505.03 up 53.96 points or 2.20 percent .

Europian Markets

The Europian markets also made a smart rally with FTSE close up 3.5 percent.

FTSE (UK) closed at 6064.20 up 205.30 points or 3.50%. .
DAX (Germany) closed at 7378.29 up 108.22 points or 1.49%
CAC (France) closed at 5363.63 up 98.16 points or 1.86%.

Asian Markets

The Asian markets closed in deep red on friday.

NIKKEI(JAPAN) closed at 15273.68 down 874.81 points.
HANG SENG (HONG KONG) closed at 20387.13 down 285.26 points.
KOSPI (SOUTH KOREA) closed at 1638.07 down 53.91 points.
STRAITS TIMES (SINGAPORE) closed at 3130.71 down 21.45 points.
Composite Index (CHINA) Closed at 4656.574 down 108.874 points.
SENSEX (INDIA) closed at 14141.52 down 216.69 points.
NIFTY (INDIA) closed at 4108.05 down 70.55 points.

FOREX

USD/ INR 41.33
EUR/ USD 01.34
USD/ JPY 114.295

GOLD

8790/ 10gm

CRUDE

$71.54/ Bbl

Today’s Market outlook

The US markets rallied on Friday after rate cut decision of FED came in after the close of Asian Markets. The US markets reacted to it and made a smart rally led by financial companies. The whole of Asia has opened positive beween 2 to 5 percent and we expect a similar gap up opening for our markets as well. NIFTY will have a strong resistance at 4240 levels.