MarketS DailY - Nov 26

US Markets

Dow 8,479 36.08
Nasdaq 1,465 -7.29
S&P 500 857 5.58

Europe

London 4,171 18.29
Paris 3,210 37.45
Frankfurt 4,560 6.09

Asia at 9 00 AM

Tokyo 8,288 -35.61
Hong Kong 13,174 295.82

SGX Nifty 2680 +40 pts

Commodities

Oil
$51.08 0.31
Gold
$820.50 0.10

Market Outlook:

US Markets ended flat, our markets faced huge selling pressure yesterday after having a gap up open. The weakness is likely to continue and nifty is expected to slip more. Every rise in markets invites short sellers , there is no trigger to keep the market in an uptrend as of now. As expiry nears expect big volatility in markets.


News Today:

* US Economy shrank by 0.5% in the third quarter shows the revised numbers, consumer confidence inches up on the back of lower fuel prices.

* U.S. Plans $800 Billion in Lending to Ease Crisis.

*U.S. banks posted earnings of $1.7 billion in the third quarter of 2008, the industry's second-weakest results since 1990.

* Ailed Firm AIG Says CEO willl get a pay of $1.

* BHP Billiton withdrew its bid for Rio Tinto, commodities took a hit as the news broke.

* China's economy is facing a deceleration. World Bank came up with a report that says Chinas growth will slip to 7.5% next year. The worlds engine of growth is slowing down evidently.

* India's petroleum minister hints of a rate cut in oil prices, will bring down inflation in turn creates room for further rate cuts.