Money Tree

GLOBAL MARKETS

US Markets

The US downtrend continues and the markets had a sharp knock again yesterday on fears of rates hike by the US FED. Both Dow and Nasdaq were down more than 1.5 percent.

Dow Jones closed at 13266.73 down 198.94 points or 1.48 percent
Nasdaq Composite closed at 2541.38 down 45.80 points or 1.77 percent.

Europian Markets

The sell off in the Europian Markets also continued and DAX and CAC fell more than 1 percent.

FTSE (UK) closed at 6505.10 down 17.60 points or 0.27% .
DAX (Germany) closed at 7618.61 down 111.44 points or 1.44%
CAC (France) closed at 5890.49 down 87.38 points or 1.46%

Asian Markets

The Asian markets also closed in the red.

NIKKEI(JAPAN) closed at 18053.38 up 12.45 points.
HANG SENG (HONG KONG) closed at 20800.16 down 18.45 points.
KOSPI (SOUTH KOREA) closed at 1753.04 up 10.85 points.
STRAITS TIMES (SINGAPORE) closed at 3546.33 down 17.42.
SENSEX (INDIA) closed at 14186.18 down 69.75 points.
NIFTY (INDIA) closed at 4179.5 down 18.75 points.

FOREX

USD/ INR 40.70
EUR/ USD 01.34
USD/ JPY 121.44

GOLD (MCX)

8860 / 10gm

CRUDE

$66.79/ Bb

Today’s Market outlook

The sell off in the US and Europe continues and impact has been felt in the Asia also and Nikkei has opened down 270 points and Straits Times is down 35 points. Our markets will not be spared and we expect a gap down opening in the morning. A strong support for NIFTY is now placed at 4125 and some bounce back may be seen from these levels and is this level is broken then the NIFTY may slide down to below 4100 levels. The crucial level for sensex is at 14000 levels.