MarketS DailY - Dec 30

US Markets

Dow 8484 -31.62 (-0.37%) Nasdaq 1510 -19.92 (-1.30%) S&P 869 -3.38 (-0.39%)

Europe

FTSE 100 4319 +102.76 (+2.44%) CAC 40 3131 +14.51 (+0.47%) DAX 30 4705 +75.48 (+1.63%)

Asia at 9 30 AM

Nikkei 225 8841		+94.28	(+1.08%)
Hang Seng 14396		+67.37	(+0.47%)

SGX Nifty 2944 +7 pts

Commodities

Light Crude (NYM)

40.02

(+2.31)

Gold (CMX)

875.30

(+4.10)

Market Outlook:

US Markets ended Flat on the negative side, no santa rally in US mkts this time. Nifty seems to be taking strong support at 2820 levels and the current range for markets will be 2820-3050.


News Today

* Nikkei ends year on down note, Benchmark closes out year 42.1% lower.

* Crude puts up a bear market rally, climbs to $40.

* Loans to U.S. automakers gets delayed,Treasury Department said it would finalize the loans in time to meet the needs of the struggling companies.

* More directors exit from Satyam, Raju's stake in the company is likely to be sold off. PE funds eye to take over satyam.

* General Motors' financial arm gets $5 billion in TARP funds. Treasury also to loan $1 billion to GM to help GMAC raise capital.

* Patience is key for 2009: Morgan Stanley

MarketS DailY - Dec 29

US Markets

Dow 8516		+47.07	(+0.55%)
Nasdaq 1530		+5.34	(+0.35%)
S&P 873		+4.65	(+0.54%)

Europe

FTSE 100 4217		-39.39	(-0.93%)
CAC 40 3116		-12.20	(-0.39%)
DAX 30 4629		-9.64	(-0.21%)

Asia at 9 30 AM

Nikkei 225 8673		-66.23	(-0.76%)
Hang Seng 14158		-26.58	(-0.19%)

SGX Nifty 2840 -39 pts

Commodities

Light Crude (NYM)

39.71

(+4.36)

Gold (CMX)

871.20

(+23.20)

Market Outlook:

US Markets ended Flat on the positive side. Most of the world markets after a pull back in December have started to fizzled out. Chances of further correction is highly likely. Nifty if closes below 2820 could test 2600 levels.


News Today

* Japan's industrial output took the largest drop in history in November over October, tumbling 8.1 percent

* Satyam postpones its board meet to Jan 10th, to explore strategic options. Appoints DSP Merry lynch as Outside adviser.

* Crude oil rises on the back of geo political tensions in Israel and Indo - Pak unrest.

* Obama's Economic Advisers warn of possible 10% unemployment.

* Gold shoots above 200 DMA, bullish signs if it holds $880 levels.

* China and Russia warn of very difficult economic conditions in 2009.

* Extremely low volumes of trade happening in US markets and in our markets as its a holiday season ahead of New years eve.

MarketS DailY - Dec 24

US Markets

Dow 8419		-100.28	(-1.18%)
Nasdaq 1522		-10.81	(-0.71%)
S&P 863		-8.47	(-0.97%)

Europe

FTSE 100 4256		+6.82	(+0.16%)
CAC 40 3128		-22.95	(-0.73%)
DAX 30 4629		-9.64	(-0.21%)

Asia at 9 30 AM

Nikkei 225 8487		-236.68	(-2.71%)
Hang Seng 14223		+2.10	(+0.01%)

Commodities

Gold (CMX)

838.10

(-9.10)

Market Outlook:

US Markets ended lower, both S&p 500 and Nifty are showing sideways movement near the 50 Day EMA. Being expiry today and a holiday tomorow we can expect good volatility in markets.

News Today

* US GDP report indicates recession that began a year ago is now sinking definitively into the official U.S. economic data. US economy contracts by 0.5%.

* US New home sales are at a 17 year low.

* India revises its current year growth expectations to 7% against the earlier forecast of 8%.

* World bank has banned Satyam from direct contracts on data theft allegations, Some reports says that chairman Raju is expected to resign.

* Japan's Cabinet approves record $980 billion fiscal budget to support the economy in recession.

* Wipro buys Citis IT arm for around $127 million.

MarketS DailY - Dec 23

US Markets

Dow 8520		-59.42	(-0.69%)
Nasdaq 1532		-31.97	(-2.04%)
S&P 872		-16.25	(-1.83%)

Europe

FTSE 100 4249		-37.77	(-0.88%)
CAC 40 3151		-74.54	(-2.31%)
DAX 30 4639		-57.68	(-1.23%)

Asia at 9 30 AM

Nikkei 225 8724		Markets closed
Hang Seng 14205		-417.47	(-2.76%)

Commodities

Light Crude (NYM)

39.91

(-2.45)

Gold (CMX)

847.20

(+9.80)

Market Outlook:

US Markets ended in red on the back abysmal outlook from Toyoto, Asia is trading in red with most markets down 3% a piece. Nifty is likely to take support at 2920 levels in case of further selling pressure.

News Today

* China cuts interest rates to boost liquidity in markets, Markets react negative shanghai down -3%.

* Toyota on track for first-ever loss in fiscal 2009 ,Revises forecasts to an operating loss of $1.7 billion in year ending March 31.

* Oil falls 6% again, closes below $40.

* Moody's, S&P Cut Ford and Chryslers' Ratings. S&P cuts debt rating for General Motors.

* US market VIX(Volatility Index) has fallen considerably , now at 44. It was at 80 levels during the AIG saga.

* Developers Ask U.S. for Bailout as Massive Debt Looms, warns of closure of large number of commercial buildings.

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.