MarketS DailY - Dec 31

US Markets

Dow 8668		+184.46	(+2.17%)
Nasdaq 1551		+40.38	(+2.67%)
S&P 891		+21.22	(+2.44%)

Europe

FTSE 100 4393		+73.33	(+1.70%)
CAC 40 3217		+86.41	(+2.76%)
DAX 30 4810		+105.34	(+2.24%)

Asia at 9 30 AM

Nikkei 225 8860		+112.39	(+1.28%)
Hang Seng 14491		+255.23	(+1.78%)

SGX Nifty 3007 +30 pts

Commodities

Light Crude (NYM)

39.03

(-0.99)

Gold (CMX)

870.00

(-5.30)

Market Outlook:

US Markets put up a rally yesterday as Government aid to G.M boosted the rally, financials also participated in the rally, Nifty would face stiff resistance at 3050-3100 levels.


News Today

* US Consumer confidence falls to an all time low of 38, on the back of surging unemployment.

* A measure of October home prices dropped by 18%, the sharpest annual rate on record.

* Oil closes below $40, Iraq dismisses plea for cease fire against continues strikes in Gaza.

* In 2009 the most important issues for revival of economy will be availability of credit and confidence in the street.

* The Economists who called the crisis earlier are predicting a tough 2009, they expect recession to get deeper and see no recovery till 2010.

* RCOM rolls out GSM services much earlier of schedule, Anil Ambani said Rcom will participate in both CDMA & GSM 3G auctions.


2008* IN THE EMERGING MARKETS

Best-performing markets
MSCI Colombia -26%
MSCI Israel -33%
MSCI Chile -37%

Worst-performing markets
MSCI Russia -74%
MSCI Pakistan -69%
MSCI India -66%

* based on the MSCI Emerging Markets indexes in dollar terms, as of Dec. 26