Money Tree

GLOBAL MARKETS

US Markets

The US markets rallied yesterday with Fed’s prediction of strong growth and Dow was up 111.74 points.

Dow Jones closed at 13638.08 up 111.74 points or 0.83 percent
Nasdaq Composite closed at 2592.59 up 20.53 points or 0.80 percent.

Europian Markets

The Europian Markets closed almost flat yesterday with a negative bias.

FTSE (UK) closed at 6602.10 down 4.40 points or 0.07% .
DAX (Germany) closed at 7764.97 down 16.07 points or 0.21%
CAC (France) closed at 6042.15 down 14.24 points or 0.24%

Asian Markets

The Asian markets closed negative after China raised the stamp duty on security transactions.

NIKKEI(JAPAN) closed at 17588.26 down 84.3 points.
HANG SENG (HONG KONG) closed at 20293.76 down 175.86 points.
KOSPI (SOUTH KOREA) closed at 1687.81 up 25.09 points.
STRAITS TIMES (SINGAPORE) closed at 3511.13 down 15.95.
SENSEX (INDIA) closed at 14411.38 down 96.83 points.
NIFTY (INDIA) closed at 4249.65 down 43.60 points.

FOREX

USD/ INR 40.86
EUR/ USD 01.34
USD/ JPY 121.55

GOLD (MCX)

8670 / 10gm

CRUDE

$63.36/ Bb

Today’s Market outlook

We are having good Global cues from the global markets, US has closed positive and Asia has opened strong with Nikkei up 244 points and Hang Seng up 270 points. Today is the expiry of May F&O series and the markets are expected to remain volatile with a positive opening.

Stocks to watch

Dr. Trehan has quit Escorts and is joining the Apollo Hospitals. The 10 percent stake held by him in Escorts has been sold to entities close to Ranbaxy family and for Rs. 70 crores and the issues are reported to have been settled amicably.
It is beleived that Dr. Trehan will move his whole team alongwith him and the news will have a strong negative impact on the stock of Fortis Healthcare and the stock of Apollo Hospitals should move up on back of this news.