Money Tree

GLOBAL MARKETS

US Markets

On the back of good quarterely results posted by US corporates the Dow Jones closed above 13000 levels for the first time and the mood seems to be bullish with less chances of an economic slowdown. Amazon.com rose 27 percent after it announced better than expected quarterely numbers.

Dow Jones closed at 13089.89 up 135.95 points or 1.05 percent
Nasdaq Composite closed at 2547.89 up 23.35 points or 0.92 percent.

Europian Markets

The Europian markets posted gains from 0.5 percent to 1 percent. The Major gainers in UK were banks after the news that the a consortium led by Royal Bank of Scotland (RBS) has made a counterbid of 72 billion Euro ($98 billion) for ABN Amro intensifying the ABN Amro takeover battle. Earlier Barclays had agreed to take over ABN Amro for $92 billion.

FTSE (UK) closed at 6461.90 up 32.40 points or 0.5%
DAX (Germany) closed at 7343.08 up 72.76 points or 1.0%
CAC (France) closed at 5947.33 up 61.30 points or 1.04%

Asian Markets

The Asian markets after begining flat gained strength and closed in the green.

SENSEX (INDIA) closed at 14217.77 up 81.05 points or 0.57%
NIFTY (INDIA) closed at 4167.30 up 25.5 points or 0.62%
BSE MIDCAP (INDIA) closed at 5805.33 up 59.99 points or 1.04%
BSE SMALLCAP (INDIA) closed at 7075.01 up 71.38 points or 1.02%

FOREX

USD/ INR 40.90
EUR/ USD 01.36
USD/ JPY 118.55

GOLD (MCX)

9285/ 10gm

CRUDE

$65.91/ Bb

Today’s Market outlook

Yesterday our markets gained further strength and now the NIFTY has its next target of conquering 4200. Today is the last thursday, expiry of April F&O series, with the markets turned bullish some short covering is expected and with positive global cues the markets might open up and gain further strength during the day.
Asian markets have opened firm with Nikkei up 129 points, Heng Seng up 146 points and Straits Times up 46 points.