Money Tree

GLOBAL MARKETS

US Markets

The US markets gained about half a percent on Friday.

Dow Jones closed at 13820.19 up 53.49 points or 0.39 percent.
Nasdaq Composite closed at 2671.22 up 16.93 points or 0.64 percent.

Europian Markets

The Europian markets also gained marginally on Friday.

FTSE (UK) closed at 6456.70 up 27.70 points or 0.43%.
DAX (Germany) closed at 7794.43 up 59.34 points or 0.77%
CAC (France) closed at 5700.65 up 11.89 points or 0.21%.

Asian Markets

The Asian markets closed mixed on Friday.

NIKKEI(JAPAN) closed at 16312.61 down 101.18 points.
HANG SENG (HONG KONG) closed at 25843.78 up 142.65 points.
KOSPI (SOUTH KOREA) closed at 1919.26 up 10.29 points.
STRAITS TIMES (SINGAPORE) closed at 3542.22 down 10.24 points.
Composite Index (CHINA) Closed at 5454.67 down 15.391 points.
SENSEX (INDIA) closed at 16564.23 up 216.28 points.
NIFTY (INDIA) closed at 4837.55 up 90.00 points.

FOREX

USD/ INR 39.90
EUR/ USD 01.40
USD/ JPY 115.480

GOLD

9515/ 10gm

CRUDE

$81.78/ Bbl

Today’s Market outlook

On friday we had another unexpected rally taking the NIFTY near 4850 levels, our markets are in a strong uptrend now, the NIFTY can touch 4900 today. The Global markets are all positive and we expect a gap up opening for our markets. Some profit booking may be seen above 4900 levels on NIFTY.

Stocks to watch

RNRL

On friday the stock made a sharp move and reached 76 levels, the stock is in a strong upmove and it may see above Rs. 90 levels during this week.

RPL

Reliance petroleum, recommended by us on 4th September 2007 also made a sharp move upwards and closed at Rs. 155. We expect a further upmove and the stock may touch Rs. 175 levels in next couple of days.