Money Tree

GLOBAL MARKETS

US Markets

The US Markets closed almost flat yesterday.

Dow Jones closed at 13309.07 down 3.90 points or 0.03 percent
Nasdaq Composite closed at 2571.75 up 0.80 points or 0.03 percent.

Europian Markets

The Europian Markets ended weak yesterday with German index down about 1 percent.

FTSE (UK) closed at 6550.40 down 53.30 points or 0.81% .
DAX (Germany) closed at 7442.20 down 83.49 points or 1.11%
CAC (France) closed at 6034.25 down 37.23 points or 0.61%

Asian Markets

The Asian markets also closed in the red.

NIKKI(JAPAN) closed at 17634.71 down 22.13 points or 0.13%.
HANG SENG (HONG KONG) closed at 20706.35 down 190.29 points or 0.90%.
KOSPI (SOUTH KOREA) closed at 1584.96 up2.31 points or 0.15%.
STRAITS TIMES (SINGAPORE) closed at 3439.21.
SENSEX (INDIA) closed at 13765.46 down 113.79 or 0.82%.
NIFTY (INDIA) closed at 4077.00 down 34.15 or 0.83%.

FOREX

USD/ INR 40.92

GOLD (MCX)

9215/ 10gm

CRUDE

$62.18/ Bb

Today’s Market outlook

In the last three trading sessions our markets tried to go up but lost the momentum and closed in the red, which means that long positions are being unwinded at higher levels and investors are cautious and are fearing to enter at higher levels. The trend seems to have changed and the markets may correct to a lower level where fresh bout of investors would feel comfortable to tread into the markets. Today the global cues are weak, US is closed almost flat and Asian markets have opened in the red. Yesterday in the last one hour we saw the stocks falling and the trend might continue in the morning and we may open weak. A strong support is place at 4025 for NIFTY and we may see some money coming in at this level.