Money Tree

GLOBAL MARKETS

US Markets

On Friday Dow Jones closed at 12961.98 up 153 points or 1.20 percent and Nasdaq Composite closed at 2526.29 up 21 points or 0.84 percent.
Dow closed at a record high on good quarterely results posted by Google and Caterpillar. The results posted by these companies were better than street expectations, Google closed at $482.48, 2.30 percent up.
The earning season seems to be good for US markets and the DOW might cross the crucial barrier of 13000 soon.

Europian Markets

Taking cues from US, Europe closed strong on a positive note with major gainers being UBS up 3.3 percent, BNP Paribas up 3.9 percent and Commerzbank up 3.6 percent.

FTSE (UK) closed at 6486.8 up 46.20 points or 0.72%
DAX (Germany) closed at 7342.54 up 99.81 points or 1.38%
CAC (France) closed at 5938.9 up 109.86 points or 1.88%

Asian Markets

Asia continues its rally with major indices up 0.5 percent to 2.5 percent.

NIKKEI (JAPAN) closed at 17452.62 up 80.65 points or 0.46%
HENG SENG (HONG KONG) closed at 20566.59 up 266.88 points or 1.31%
KOSPI (SOUTH KOREA) closed at 1533.08 up 19.42 points or 1.28%
STRAITS TIMES (SINGAPORE) closed at 3360.67 up 69.39 points or 2.11%
SENSEX (INDIA) closed at 13897.41 up 277.71 points or 2.04%
NIFTY (INDIA) closed at 4083.55 up 85.90 points or 2.15%
BSE MIDCAP (INDIA) closed at 5699.08 up 47 points or 0.83%
BSE SMALLCAP (INDIA) closed at 6974.37 up 69.08 points or 1%

Our markets moved up with asia and strong last quarter numbers posted by indian companies. Technology, cement, construction, Banking and metal sectors rallied to push the sensex near 14000 levels. The sensex has a very strong support at 13700 and if the bullishness in global markets continues we may see the all time highs being broken soon. With better inflation numbers chances are that the interest rates have peaked out and we may not see further rate hikes.

FOREX

USD/ INR 41.62
EUR/ USD 01.36
USD/ JPY 118.61

GOLD (MCX)

9508/ 10gm

CRUDE

$63.89/ Bb

Today’s Market outlook

The party continues for Asia as major indices across asia have opened in the green. Nikkei has opened up about 110 points, Heng Seng is up 96 points, Kospi is up 20 points and Straits Times is up about 29 points.
FII activity has increased in last few days providing the markets the much awaited liquidity and some short covering is also seen as the markets were not expected to go up and huge short positions were created in the past and now with the April F&O series expiry approaching shorts are being covered as the markets continue to move up.
Earnings are also looking strong and we expect the markets to move up today.
Some stocks to watch would be Idea cellular, Shri Digvijay Cement, Teledata Informatics, Reliance Industries and SAIL.