Money Tree

GLOBAL MARKETS

US Markets

The US markets rallied more than 1 percent on Wednesday.

Dow Jones closed at 13236.13 up 145.27 points or 1.11 percent.
Nasdaq Composite closed at 2552.80 up 31.50 points or 1.25 percent .

Europian Markets

The Europian markets also rallied more than a percent Wednesday.

FTSE (UK) closed at 6196.00 up 109.90 points or 1.81%. .
DAX (Germany) closed at 7500.48 up 75.73 points or 1.02%
CAC (France) closed at 5518.17 up 99.39 points or 1.83%.

Asian Markets

The Asian markets also closed in the green on Wednesday.
NIKKEI(JAPAN) closed at 15900.64 down 0.7 points.
HANG SENG (HONG KONG) closed at 22346.88 up 617.53 points.
KOSPI (SOUTH KOREA) closed at 1759.5 up 23.32 points.
STRAITS TIMES (SINGAPORE) closed at 3321.5 up 92.84 points.
Composite Index (CHINA) Closed at 4980.075 up 24.868 points.
SENSEX (INDIA) closed at 14248.66 up 259.55 points.
NIFTY (INDIA) closed at 4153.15 up 78.25 points.

FOREX

USD/ INR 40.89
EUR/ USD 01.34
USD/ JPY 115.255

GOLD

8765/ 10gm

CRUDE

$69.26/ Bbl

Today’s Market outlook

Yesterday was a very volatile session and NIFTY once again touched 4040 and bounced back. The markets are finding very strong support at 200 day moving average levels and the bounce backs from there are very sharp. It seems that the markets have bottomed out at these levels unless some adverse political event comes out or something happens in the global markets. Yesterday the US markets have rallied and the Bank of Japan has left the rates unchanged at 0.5 percent, the Asian markets have opened in the green. We expect a good positive opening and some profit booking may come in at higher levels on expectations of political turmoil in the next week.