Money Tree

GLOBAL MARKETS

US Markets

The US Markets closed almost flat yesterday.

Dow Jones closed at 13565.84 down 11.46 points or 0.08 percent.
Nasdaq Composite closed at 2656.65 up 11.70 points or 0.44 percent .

Europian Markets

The Europian Markets drifted down yesterday with DAX down more than 1 percent.

FTSE (UK) closed at 6635.20 down 37.90 points or 0.57%. .
DAX (Germany) closed at 7987.13 down 88.13 points or 1.09%
CAC (France) closed at 6059.53 down 38.55 points or 0.63%.

Asian Markets

The Asian markets closed mixed with a negative bias with China down more than 5 percent on Thursday.

NIKKEI(JAPAN) closed at 18221.48 up 52.76 points.
HANG SENG (HONG KONG) closed at 22252.99 up 34.44 point.
KOSPI (SOUTH KOREA) closed at 1847.79 up 9.38 points.
STRAITS TIMES (SINGAPORE) closed at 3551.68 down 3.17 points.
Composite Index (CHINA) Closed at 3615.87 down 200.293 points.
SENSEX (INDIA) closed at 14861.89 down 18.35 points.
NIFTY (INDIA) closed at 4353.95 down 18.35 points.

FOREX

USD/ INR 40.43
EUR/ USD 01.36
USD/ JPY 122.545

GOLD

8597/ 10gm

CRUDE

$71.81/ Bb

Today’s Market outlook

All is not well in Asia, the Chinese market fell more than 5 percent yesterday and has opened negative today also losing almost one percent. Other Asian markets are also witnessing downward pressure. Our markets fell sharply yesterday morning and then NIFTY found support near 4315 (as indicated by us yesterday) and saw some buying interest at these levels, bringing the markets back to an almost flat closing. DLF also made a smart recovery, may be some institutional interest came in when the stock fell down below 550 mark, however other real estate stocks could not make such a recovery and closed in the red. Today the markets should again be in a consolidation mode and 4345 will serve as a good support and if broken, the markets may test yesterday’s lower levels once again.