Money Tree

GLOBAL MARKETS

US Markets

The US markets rallied about 2 percent on Wednesday.

Dow Jones closed at 13289.29 up 247.44 points or 1.90 percent.
Nasdaq Composite closed at 2563.16 up 62.52 points or 2.50 percent.

Europian Markets

The Europian markets also closed in the green on wednesday.

FTSE (UK) closed at 6132.20 up 30.00 points or 0.49%.
DAX (Germany) closed at 7439.18 up 8.94 points or 0.12%
CAC (France) closed at 5520.02 up 45.85 points or 0.84%.

Asian Markets

The Asian markets closed mixed on Wednesday.

NIKKEI(JAPAN) closed at 16012.83 down 274.66 points.
HANG SENG (HONG KONG) closed at 23020.6 down 343.16 points.
KOSPI (SOUTH KOREA) closed at 1826.19 down 3.12 points.
STRAITS TIMES (SINGAPORE) closed at 3334.66 down 8.34 points.
Composite Index (CHINA) Closed at 5109.427 down 85.262 points.
SENSEX (INDIA) closed at 14993.04 up 73.85 points.
NIFTY (INDIA) closed at 4359.3 up 38.6 points.

FOREX

USD/ INR 41.11
EUR/ USD 01.36
USD/ JPY 114.825

GOLD

8895/ 10gm

CRUDE

$73.51/ Bbl

Today’s Market outlook

Yesterday after a gap down opening our markets took a u turn and posted good gains towards the end of the session on back of some short covering as the new F&O series starts from tomarrow. The US markets rallied yesterday and the Asian markets have also opened in the green today, we expect a good positive opening and some more short covering may be seen today taking the markets higher. The NIFTY has a strong resistance placed at 4420 and if crossed it may head towards 4500 levels.