Money Tree

GLOBAL MARKETS

US Markets

The US markets closed almost flat on monday.

Dow Jones closed at 13121.35 up 42.27 points or 0.32 percent.
Nasdaq Composite closed at 2508.59 up 3.56 points or 0.14 percent .

Europian Markets

The Europian markets posted minor gains on monday.

FTSE (UK) closed at 6078.70 up 14.50 points or 0.24%. .
DAX (Germany) closed at 7407.53 up 29.24 points or 0.40%
CAC (France) closed at 5399.38 up 35.75 points or 0.67%.

Asian Markets

The Asian markets rallied on monday on the back of good global cues.

NIKKEI(JAPAN) closed at 15732.48 up 458.8 points.
HANG SENG (HONG KONG) closed at 21595.63 up 1208.5 points.
KOSPI (SOUTH KOREA) closed at 1731.27 up 93.2 points.
STRAITS TIMES (SINGAPORE) closed at 3322.38 up 191.67 points.
Composite Index (CHINA) Closed at 4904.855 up 248.281 points.
SENSEX (INDIA) closed at 14427.55 up 286.03 points.
NIFTY (INDIA) closed at 4209.05 up 101 points.

FOREX

USD/ INR 41.33
EUR/ USD 01.34
USD/ JPY 115.125

GOLD

8815/ 10gm

CRUDE

$71.12/ Bbl

Today’s Market outlook

The US markets after a one day rally on Friday closed almost flat yesterday with most of the financial stocks closing in the red, which suggests that the credit crisis is yet not over. Our markets also rallied yesterday on short covering and investors are yet not convinced at the current levels to go long. Political uncertainty has also contributed to the negative sentiment and there are chances that we may see a mid term poll in the early 2008. Today the Asian markets have opened firm and we expect a positive opening but the markets might not be able to hold the gains and fresh shorts may be initiated at higher levels.