Money Tree

GLOBAL MARKETS

US Markets

The US markets rallied yesterday and Nasdaq gained more than 2 percent.

Dow Jones closed at 13657.86 up 153.56 points or 1.14 percent.
Nasdaq Composite closed at 2612.98 up 51.38 points or 2.01 percent .

Europian Markets

The Europian markets also closed firm on Wednesday gaining more than 1 percent.

FTSE (UK) closed at 6393.90 up 85.10 points or 1.35%. .
DAX (Germany) closed at 7605.94 up 92.28 points or 1.23%
CAC (France) closed at 5749.29 up 128.89 points or 2.29%.

Asian Markets

The Asian markets also rallied on Wednesday.

NIKKEI(JAPAN) closed at 17029.28 up 107.51 points.
HANG SENG (HONG KONG) closed at 22536.67 up 628.68 points.
KOSPI (SOUTH KOREA) closed at 1903.41 up 43.59 points.
STRAITS TIMES (SINGAPORE) closed at 3413.17 up 111.16 points.
Composite Index (CHINA) Closed at 4663.162 up 11.937 points.
SENSEX (INDIA) closed at 15307.98 up 375.21 points.
NIFTY (INDIA) closed at 4462.1 up 105.75 points.

FOREX

USD/ INR 40.52
EUR/ USD 01.37
USD/ JPY 119.410

GOLD

8855/ 10gm

CRUDE

$72.17/ Bb

Today’s Market outlook

The NIFTY seems to have found support near 4300 and yesterday it has made a break out from the trading range of 4300 to 4430 and now 4520 is the next crucial resistance. The US markets have rallied yesterday as well and the Asian markets have opened in the green today, there is renewed strength in the frontline IT stocks which may lead the further rally in our markets. We expect a positive opening in the morning and some profit booking may be seen at higher levels.