Money Tree

GLOBAL MARKETS

US Markets

The US markets continued their rally and posted half a percent gains on Wednesday.

Dow Jones closed at 13815.56 up 76.17 points or 0.55 percent.
Nasdaq Composite closed at 2666.48 up 14.82 points or 0.56 percent.

Europian Markets

The Europian markets rallied 2 to 3 percent on Wednesday.

FTSE (UK) closed at 6460.00 up 176.70 points or 2.81%.
DAX (Germany) closed at 7750.84 up 175.63 points or2.32%
CAC (France) closed at 5730.82 up 181.47 points or3.27%.

Asian Markets

The Asian markets, except China, joined the party with the US and posted handsome gains on Wednesday.

NIKKEI(JAPAN) closed at 16381.54 up 579.74 points.
HANG SENG (HONG KONG) closed at 25554.64 up 977.79 points.
KOSPI (SOUTH KOREA) closed at 1902.65 up 64.04 points.
STRAITS TIMES (SINGAPORE) closed at 3594.36 up 116.61 points.
Composite Index (CHINA) Closed at 5395.265 down 29.943 points.
SENSEX (INDIA) closed at 16322.75 up 653.63 points.
NIFTY (INDIA) closed at 4732.35 up 186.15 points.

FOREX

USD/ INR 40.20
EUR/ USD 01.39
USD/ JPY 116.275

GOLD

9445/ 10gm

CRUDE

$81.93/ Bbl

Today’s Market outlook

Yesterday our markets showed strenght and rallied to record highs. The rally was led by frontline Banking and Real Estate stocks and almost all sectors, except IT, participated in it. Almost all sugar stocks hit upper circuits on news that the Sugar companies are allowed to manufacture ethanol directly from the cane and some monetary benefits will be announced in the coming two weeks. Today we expect our markets to rest for some time after a huge rally yesterday, the markets are expected to remain flat and some profit booking may be seen in select counters.