Money Tree

GLOBAL MARKETS

US Markets

The US markets closed almost flat on Wednesday.

Dow Jones closed at 13525.65 down 14.30 points or 0.11 percent
Nasdaq Composite closed at 2577.05 up 10.97 points or 0.42 percent.

Europian Markets

The Europian Markets closed positive yesterday with DAX up 1 percent.

FTSE (UK) closed at 6616.40 up 9.80 points or 0.15% .
DAX (Germany) closed at 7735.88 up 76.49 points or 1.00%
CAC (France) closed at 6120.20 up 30.48 points or 0.50%

Asian Markets

The Asian markets closed nagative yesterday.

NIKKI(JAPAN) closed at 17646.13 down 58.99 points.
HANG SENG (HONG KONG) closed at 20798.97 down 44.95 points.
KOSPI (SOUTH KOREA) closed at 1646.59 up 3.71 points.
STRAITS TIMES (SINGAPORE) closed at 3559.01 up 19.19 points.
SENSEX (INDIA) closed at 14363.26 down 90.46 points.
NIFTY (INDIA) closed at 4246.20 down 31.90 points.

FOREX

USD/ INR 40.57
EUR/ USD 01.34
USD/ JPY 121.47
GOLD (MCX)

87050 / 10gm

CRUDE

$65.88/ Bb

Today’s Market outlook

Today again not very good global cues are coming with Asian markets opening negative, we expect the consolidation phase to continue today as well.

Stock to watch

NIIT Technologies

The company has announced good set of numbers yesterday. The consolidated revenues are up 46 percent at Rs. 886 crore for the year ended on 31st March 2007 and the company has announced a bonus in the ratio of 1:2
The stock has been in an up move for last few months and yesterday it was closed at Rs.519. The results were announced after the close of markets and therefore the stock did not react to its results. The stock should see some more upward movement reacting to its results and announcement of bonus.