MarketS DailY - Dec 22

US Markets

Dow 8579-25.88 (-0.30%)
Nasdaq 1564+11.95 (+0.77%)
S&P 888+2.60 (+0.29%)

Europe

FTSE 100 4287-43.73 (-1.01%)
CAC 40 3226-8.25 (-0.26%)
DAX 30 4697-59.70 (-1.26%)

Asia at 9 30 AM

Nikkei 225 8710+121.29 (+1.41%)
Hang Seng 14975-152.91 (-1.01%)
All Ordinaries 3517-30.10 (-0.85%)

SGXNifty 3070 -6 pts

Commodities

Light Crude (NYM) 33.87 (-2.35)

Gold (CMX) 837.40 (-23.20)


Market Outlook:

US Markets ended Mixed on friday after the Auto bail out was opened, Nifty remains bullish technically as long as it holds above 2910 levels. Possible targets could be 3240- 3460. Expect volatility as expiry is on Wednesday and due to holiday season.

News Today

* US automakers get $17 billion aid from the TARP funds.

* US vice presedential candidate Joe
Biden: The economy is 'in much worse shape than we thought'.

* Oil cracks to 5 year low of $33.

* Japan's
Trade deficit widens radically to 223 billion yen as exports hit skids.

* India's biggest private firm Reliance is feeling the pinch, begins cost aggressive cost cutting measures.

* SEBI orders for a probe into satyam-maytas controversial deal.

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