Money Tree

GLOBAL MARKETS

US Markets

The US Markets rose yesterday on Reports of greater-than expected growth in services sector and an increase in productivity. Verizon Communications Inc. among the gaineres was up 3.7 percent.

Dow Jones closed at 13241.38 up 29.50 points or 0.22 percent
Nasdaq Composite closed at 2565.46 up 7.62 points or 0.30 percent.

Europian Markets

The Europian Markets also closed in the positive territory.

FTSE (UK) closed at 6537.80 up 53.30 points or 0.82%
DAX (Germany) closed at 7476.69 up 20.76 points or 0.28%
CAC (France) closed at 6004.28 up 14.15 points or 0.24%

Asian Markets

The Asian markets closed positive with gains of 1 to 1.5 percent on major indices. The Nikkei was closed yesterday.
HANG SENG (HONG KONG) closed at 20681.58 up 293.09 points or 1.44%. .
KOSPI (SOUTH KOREA) closed at 1562.99 up 3.13 points or 0.20%.
STRAITS TIMES (SINGAPORE) closed at 3481.85 up 31.21 points or 0.90%. .
SENSEX (INDIA) closed at 14078.21 up 205.84 points or 1.48%.
NIFTY (INDIA) closed at 4150.85 up 62.95 points or 1.54%.

FOREX-

USD/ INR 40.92
EUR/ USD 01.36
USD/ JPY 120.27

GOLD (MCX)-

9203/ 10gm

CRUDE-

$63.21/ Bb

Today’s Market outlook

The Asian markets have opened firm and our markets closed very strong yesterday with more and more midcaps participating in the rally. The yesterday’s rally should carry on today and we expect a positive opening, however some profit booking may also be seen on higher levels but the overall trend is positive.
Cement and construction stocks are looking good.