Money Tree

GLOBAL MARKETS

US Markets

The US markets saw another good rally which took Dow Jones past 14000 levels for the first time. The rally was backed by good results posted by technology and industrial sectors. IBM rose more than 4 percent in yesterday’s trade after it announced its best quarterly numbers, Juniper Networks Inc., a network equipment maker surged more than 12 percent.

Dow Jones closed at 14000.41 up 82.19 points or 0.59 percent.
Nasdaq Composite closed at 2720.04 up 20.55 points or 0.76 percent .

Europian Markets

The Europian markets rebounded yesterday and markets gained more than 1 percent.

FTSE (UK) closed at 6640.20 up 73.10 points or 1.11%. .
DAX (Germany) closed at 7991.21 up 97.60 points or 1.24%
CAC (France) closed at 6065.50 up 69.53 points or 1.16%.

Asian Markets

The Asian markets except China ended in the green on Thursday.

NIKKEI(JAPAN) closed at 18116.57 up 100.99 points.
HANG SENG (HONG KONG) closed at 23016.2 up 174.28 points.
KOSPI (SOUTH KOREA) closed at 1937.9 up 7.2 points.
STRAITS TIMES (SINGAPORE) closed at 3604.62 up 20.65 points.
Composite Index (CHINA) Closed at 3912.94 down 17.119 points.
SENSEX (INDIA) closed at 15550.13 up 248.96 points.
NIFTY (INDIA) closed at 4562.1 up 62.55 points.

FOREX

USD/ INR 40.35
EUR/ USD 01.38
USD/ JPY 122.040

GOLD

8825/ 10gm

CRUDE

$75.92/ Bb

Today’s Market outlook

The US markets closed at a record high yesterday, the Europe also rebounded on positive earnings, Asia has opened in the green in the morning, the first quarter results announced by DLF (Sales : Rs. 3074 crore and Net Profit : Rs. 1515 crore) were better that expectations and created a positive sentiment for the real estate and construction sector. Our markets also closed on all time high levels and are continuously making new highs, liquidity is abundant, economy is booming and earnings, except techs, are also good, the momentum seems to be continuing for some more time till some negative trigger comes in. Today we expect the rally to continue and NIFTY will try to conquer 3600 levels with a strong resistance placed at 3620.

Stocks to watch

DLF Ltd.

The stock did’nt do too much on the listing day and thereafter some interest started building up in the stock and there were expectations of good quarterly numbers, the stock went up to Rs. 660 on expectations of good results. Yesterday the company delivered the numbers, better than street expectations, some profit booking was seen and stock came down to below Rs. 640 levels. The company is a leader in the real estate pack and the sector is booming, The stock should move further and can command higher valuations. The stock can be bought near Rs. 640 levels with a stop loss of Rs. 625.

Gateway Distriparks

The company has announced good quarterly numbers recently and some accumulation seems to be happening near 180 levels, yesterday it closed near Rs. 182. The stock can be bought at these levels for a short term target of Rs. 200.