Money Tree

GLOBAL MARKETS

US Markets

The US markets closed weak on thursday with Nasdaq shedding more than 1 percent.

Dow Jones closed at 13441.13 down 84.52 points or 0.62 percent
Nasdaq Composite closed at 2537.92 down 39.13 points or 1.52 percent.

Europian Markets

The Europian Markets also ended weak with broad indiced down between 0.5 to 1 percent.

FTSE (UK) closed at 6565.40 down 51.00 points or 0.77% .
DAX (Germany) closed at 7697.38 down 38.50 points or 0.50%
CAC (France) closed at 6048.31 down 71.89 points or 1.17%

Asian Markets

The Asia also closed weak yesterday.

NIKKI(JAPAN) closed at 17448.79 down 248.18 points.
HANG SENG (HONG KONG) closed at 20798.97 down 44.95 points.
KOSPI (SOUTH KOREA) closed at 1633.04 down 13.55 points.
STRAITS TIMES (SINGAPORE) closed at 3530.26 down 28.75 points.
SENSEX (INDIA) closed at 14218.11 down 145.15 points.
NIFTY (INDIA) closed at 4204.90 down 41.30 points.

FOREX

USD/ INR 40.63
EUR/ USD 01.34
USD/ JPY 121.09

GOLD (MCX)

8642 / 10gm

CRUDE

$64.39/ Bb

Today’s Market outlook

The global indices have closed in the red yesterday and asia has also opened weak with Nikkei down 270 points, Straits Times down about 42 points and Taiwan is down about 50 points. Our markets have been in the consolidation phase for last few days and with a negative opening across asia we expect a weak opening today. Also, there are two more negative factors adding to the bearish trend. One, a lot of money shall be invested in the primary market in the coming month in the big issues like DLF and ICICI Bank, two, there are chances of RBI’s hiking the CRR once again to suck up the excess liquidity in the system.
A strong support for NIFTY is placed at 4130 and if it is broken decisively the NIFTY may plunge down the 4100 level.