Money Tree

GLOBAL MARKETS

US Markets

The US markets closed higher as companies like Merck & Co. and Halliburton Co. posted numbers beating market expectations.

Dow Jones closed at 13943.42 up 92.34 points or 0.67 percent.
Nasdaq Composite closed at 2690.58 up 2.98 points or 0.11 percent .

Europian Markets

The Europian markets also ended in the green.

FTSE (UK) closed at 6624.40 up 39.20 points or 0.60%. .
DAX (Germany) closed at 7944.21 up 69.36 points or 0.88%
CAC (France) closed at 6009.16 up 52.00 points or 0.87%.

Asian Markets

The Asian markets closed mixed on Monday.

NIKKEI(JAPAN) closed at 17963.64 down 194.29 points.
HANG SENG (HONG KONG) closed at 23365.56 up 73.66 points.
KOSPI (SOUTH KOREA) closed at 1993.05 up 9.51 points.
STRAITS TIMES (SINGAPORE) closed at 3635.35 down 16.03 points.
Composite Index (CHINA) Closed at 4213.36 up 154.508 points.
SENSEX (INDIA) closed at 15732.2 up 166.65 points.
NIFTY (INDIA) closed at 4619.35 up 53.3 points.

FOREX

USD/ INR 40.30
EUR/ USD 01.38
USD/ JPY 121.335

GOLD

8950/ 10gm

CRUDE

$75.79/ Bb

Today’s Market outlook

Yesterday we had an unexpected rally, the US markets had closed negative and the Europian markets had also closed in the red, The mood in Asia was not very good and our markets after opening flat slowly built up the momentum and towards the end of the day we NIFTY closed at a very storng level of 4620. The Sensex is marching towards 16000 now, there may be some bouts of profit booking around 15900 levels before the magic number is conquered. The real drivers of this momentum are Capital goods and infrastructure stocks, The IT is just not participating. Today we expect a positive opening and NIFTY should try to cross 4650 levels which is a strong resistance level and on the downside 4590 will work as a good support.