Money Tree

GLOBAL MARKETS

US Markets

The US Markets rallied yesterday lead by IT and energy stocks.

Dow Jones closed at 13427.73 up 90.07 points or 0.68% percent.
Nasdaq Composite closed at 2605.35 up 31.19 points or 1.21 percent .

Europian Markets

The Europian Markets closed in the red.

FTSE (UK) closed at 6527.60 down 31.70 points or 0.48%. .
DAX (Germany) closed at 7801.23 down 59.29 points or 0.75%
CAC (France) closed at 5941.67 down 11.69 points or 0.20% .

Asian Markets

The Asian markets closed weak on Wednesday.

NIKKEI(JAPAN) closed at 17849.28 down 216.83 points.
HANG SENG (HONG KONG) closed at 21705.56 down 98.01 point.
KOSPI (SOUTH KOREA) closed at 1733.10 down 16.45 points.
STRAITS TIMES (SINGAPORE) closed at 3505.5 down 19.60 points.
SENSEX (INDIA) closed at 14431.06 down 70.02 points.
NIFTY (INDIA) closed at 4263.95 down 21.75 points.

FOREX

USD/ INR 40.97
EUR/ USD 01.34
USD/ JPY 122.49

GOLD (MCX)

8637/ 10gm

CRUDE

$68.97/ Bb

Today’s Market outlook

After a long consolidation the US markets rallied yesterday and the effect is seen in Asia today with NIKKEI up 75 points and Hang Seng up about 275 points. In the last few day when the global markets were consolidating we did not break too much and sustained good support levels. Today we expect a firm day for our markets and the NIFTY will once again try to cross the crucial 4300 mark.

Stocks to watch

ICSA Ltd.

The company has been posting good numbers consistently and is a fundamentally strong company. Yesterday the stock was closed at Rs. 1173 and at this price it is available at a good PE ratio and in the next three quarters the company is expected to produce good numbers as it has a strong order book to execute in the coming year. We see a good upside in the next 6 months from now, it is a good fundamental long term buy.