Money Tree

GLOBAL MARKETS

US Markets

The US markets were closed on Monday on account of Labour day.

Europian Markets

The Europian markets ended almost flat on Monday.

FTSE (UK) closed at 6315.20 up 11.90 points or 0.19%.
DAX (Germany) closed at 7648.58 up 10.41 points or 0.14%
CAC (France) closed at 5651.27 down 11.43 points or 0.20%.

Asian Markets

The Asian markets closed mixed on Monday.

NIKKEI(JAPAN) closed at 16524.93 down 44.16 points.
HANG SENG (HONG KONG) closed at 23904.09 down 80.05 points.
KOSPI (SOUTH KOREA) closed at 1881.81 up 8.57 points.
STRAITS TIMES (SINGAPORE) closed at 3386.22 down 6.69 points.
Composite Index (CHINA) Closed at 5321.055 up 102.23 points.
SENSEX (INDIA) closed at 15422.05 up 103.45 points.
NIFTY (INDIA) closed at 4474.75 up 10.75 points.

FOREX

USD/ INR 40.89
EUR/ USD 01.36
USD/ JPY 115.875

GOLD

8940/ 10gm

CRUDE

$74.04/ Bbl

Today’s Market outlook

The US markets were closed Yesterday and the Asian Markets have opened negative today morning. The Fed Meeting is scheduled on September 18 and the markets are expecting a rate cut this time by the Fed and the global markets are rallying in this expectation. There will be a reassessment of risks on equities by big funds after this event and a fresh sell off may be triggred if anything negative comes out from the fed meeting and till that event the markets are expected to remain range bound and would not move significantly on either side.

Stocks to watch

RPL

Reliance petroleum is looking very strong at current levels, the stock did not lose too much in the recent sell off and yesterday it made a breakout by crossing a crucial resistance placed at 119 levels. This is a good long term buy with a target of Rs. 180 in about six months.