Money Tree

GLOBAL MARKETS

US Markets

The US Markets closed almost flat on friday.

Dow Jones closed at 13264.62 up 23.24 points or 0.18 percent
Nasdaq Composite closed at 2572.15 up 6.69 points or 0.26 percent.

Europian Markets

The Europian Markets posted gains from 0.5% to 1% on friday.

FTSE (UK) closed at 6603.80 up 65.90 points or 1.01%
DAX (Germany) closed at 7516.76 up 40.07 points or 0.54%
CAC (France) closed at 6068.83 up 64.55 points or 1.08%

Asian Markets

The Asian markets closed mixed with Indian markets down about 1%.

HANG SENG (HONG KONG) closed at 20841.08 up 159.50 points or 0.77%.
KOSPI (SOUTH KOREA) closed at 1567.74 up7.88 points or 0.51%.
STRAITS TIMES (SINGAPORE) closed at 3485.76 up 35.12points or 1.02%. .
SENSEX (INDIA) closed at 13934.27 down 143.94.
NIFTY (INDIA) closed at 4117.35 down 33.50.

FOREX

USD/ INR 40.56
EUR/ USD 01.37

GOLD (MCX)

9215/ 10gm

CRUDE

$61.74/ Bb

Today’s Market outlook

The Asian markets have opened firm today with Nikkei up about 300 points and Hang Seng up about 200 points. The rupee is appreciating against dollor and has broken the previous high of 40.6. Some pressure may be seen on the IT stocks due to appreciating rupee, otherwise the overall sentiment is looking good.
Some profit booking was seen on friday on higher levels and our markets after opening positive closed in the red. Today we expect a positive opeing and buying should be seen in select stocks.

Stocks to Watch

Midday Multimedia

The stock rallied last week to reach Rs. 52 level. The quarterely results will be announced today and the company has been an underperformer for the last 2-3 quarters. The rally just before the announcement of results indicates that the company may come out with some very impressive numbers and if it comes out to be a fact the stock may rally further with a target of Rs. 60 and then to 75.