MarketS DailY - Jan 19

US Markets

Dow 8281		+68.73	(+0.83%)
Nasdaq 1529		+17.49	(+1.16%)
S&P 850		+6.38	(+0.76%)

Europe

FTSE 100 4147		+25.95	(+0.63%)
CAC 40 3017		+20.87	(+0.70%)
DAX 30 4366		+29.55	(+0.68%)

Asia at 9 30 AM

Nikkei 225 8293		+63.13	(+0.77%)
Hang Seng 13417		+161.15	(+1.22%)

SGX Nifty 2820 +4 pts

Commodities

Light Crude (NYM)

36.25

(-0.26)

Gold (CMX)

839.90

(+32.60)

Market Outlook:

US markets closed on positive side ahead of Obama's presidential oath. Markets are edgy and waiting for any news flows to make the next big move. Nifty will face resistance at 2950 levels

News Today

* Citigroup to split into 2 units after $8.3B loss

* The prime ministers of Russia and Ukraine reached an agreement to resume gas supplies.

* Zimbabwe to print first $100 trillion note as inflation surges to astronomical figures.

* Prime Minister Gordon Brown plans to unveil a second bailout for British banks to stoke more lending.

* Bank of America posted a $1.79 billion loss, hurt by rising credit costs, and defended its purchase of Merrill

* Warren Buffett: Barack Obama Will Help the Economy, But Don't Expect Short-Term Miracles.

* Obama : Economy Will Worsen Even With Stimulus.

MarketS DailY - Jan 15

US Markets

Dow 8200		-248.42	(-2.94%)
Nasdaq 1490		-56.82	(-3.67%)
S&P 843		-29.17	(-3.35%)

Europe

FTSE 100 4181		-218.51	(-4.97%)
CAC 40 3052		-145.89	(-4.56%)
DAX 30 4422		-214.59	(-4.63%)

Asia at 9 30 AM

Nikkei 225 8102		-336.07	(-3.98%)
Hang Seng 13071		-633.43	(-4.63%)

SGX Nifty 2720 - 99 pts

Commodities

Light Crude (NYM)

36.60

(-0.68)

Gold (CMX)

808.80

(-11.90)

Market Outlook:

US & Europe markets fell sharply in yesterdays trade, the correction happening is starting to take momentum. A mixed bag of bad news pulled down markets in US. Nifty gave a good pull back but today it will lose the gains and up ward momentum, Supports will be 2750,2680

News Today

* Dow Has Worst Start to a Year Ever,The Dow Jones Industrial Average lost 248.42, or 2.9 percent, to close at 8,200.14, bringing its losing streak to six sessions and its loss in that time to a whopping 10 percent.

*Canadian telecom giant Nortel files for bankruptcy.

* U.S. retail sales plunge 2.7% in December.

* Apple CEO Steve Jobs stunned shareholders and the tech world by announcing he is taking a medical leave until the end of June.

* FED's Beige book says Economy continued downswing through early January.

* Filtch rating agency downgrades Unitech, says it has to clear dues of Rs 1100 crores by January.

* Bank of America shares hit a 52-week low after a Wall Street Journal report that it's near receiving billions more in US aid.

* As recessions deepens, Web giant Google axes about 100 employees in recruiting.

* As Citi Group plans to dis integrate its units, analysts raise concerns over the survival of citi.

* Indian Government rules out bail out option for Satyam, PWC its auditor admits goof up in accounts.

* Japan's core machinery orders. considered a weathervane for industrial activity, fall a record 16.2% in November.

MarketS DailY - Jan 13

US Markets

Dow 8474		-125.21	(-1.46%)
Nasdaq 1539		-32.80	(-2.09%)
S&P 870		-20.09	(-2.26%)

Europe

FTSE 100 4426		-22.35	(-0.50%)
CAC 40 3246		-53.38	(-1.62%)
DAX 30 4720		-64.27	(-1.34%)

Asia at 9 30 AM

Nikkei 225 8458		-378.41	(-4.28%)
Hang Seng 13997		+26.21	(+0.18%)

SGX Nifty 2730 -15 pts

Commodities

Light Crude (NYM)

37.59

(-3.24)

Gold (CMX)

821.00

(-34.00)

Market Outlook:

Another Down day for US markets. Earnings season kicks off and prominent advisers warn of ugly earnings this quarter. DOW slipped more than 100 points. Nifty continues to feel the selling pressure,Infosys results today will set the tone for the results season.

News Today

* U.S. President-elect Barack Obama made his case to Congress for the release of $350 billion in remaining federal bailout funds.

* Aluminum maker Alcoa reports $1.2 billion loss.

* World Bank bars Wipro's software unit from contracts until 2011 on bribery charges.

* Gold and oil fall on rising dollar. Rupee weakens against dollar on outflows.

* India's Index for Industrial Output (IIP) registered a 2.4% growth in November as against the negative 0.3% for October.

* Former CFO of Satyam revealed that the software firm’s fixed deposits were unreal and fictitious.

* Japanese electronics giant SONY reportedly will report first operating loss in 14 years, and only its second in 40 years as a public company.

MarketS DailY - Jan 12

US Markets

Dow 8599		-143.28	(-1.67%)
Nasdaq 1572		-45.42	(-2.81%)
S&P 890		-19.38	(-2.13%)

Europe

FTSE 100 4449		-56.83	(-1.26%)
CAC 40 3300		-24.83	(-0.75%)
DAX 30 4784		-96.02	(-1.97%)

Asia at 9 30 AM

Nikkei 225 8837		-39.62	(-0.45%)
Hang Seng 14174		-203.16	(-1.41%)

SGX Nifty 2840 -21 pts

Commodities

Light Crude (NYM)

41.08

(-0.62)

Gold (CMX)

854.60

(+0.10)

Market Outlook:

US Markets ended in red after abysmal Job data, all world markets are undergoing a correction after the pull back that started in November. The extent of the correction will depend on news flows. Indian markets exhibited weakness on the Back of satyam scam, Nifty needs to hold 2820 on closing basis for any chance of upmoves.

News Today

* US reports Worst year for jobs since 1945 , Annual loss biggest since end of World War II. Unemployment rate rises to 7.2%.

* Indian Government appoints 3 member board for Satyam comprising of Deepak parkeh, Kiran kramnik and Achutan.

* Major clients of Satyam Computer Services, such as General Electric (GE), Nestle and British Petroleum, have started exploring alternative options such as moving work to other outsourcing vendors.

* Banking giant Citi is in talks to sell Smith Barney and asset-management units or team up with Morgan Stanley.

* IIP numbers will be reported today, expected to be flat to negative growth number.

MarketS DailY - Jan 07

US Markets

Dow 9015		+62.21	(+0.69%)
Nasdaq 1652		+24.35	(+1.50%)
S&P 935		+7.25	(+0.78%)

Europe

FTSE 100 4639		+59.28	(+1.29%)
CAC 40 3396		+36.30	(+1.08%)
DAX 30 5026		+42.32	(+0.85%)

Asia at 9 30 AM

Nikkei 225 9267		+185.67	(+2.04%)
Hang Seng 15521		+11.69	(+0.08%)

SGX Nifty 3145 +12 pts

Commodities

Light Crude (NYM)

48.58

(-0.23)

Gold (CMX)

866.00

(+8.20)

Market Outlook:

US markets ended positive on news of Obama's stimulus package and Tax benefits, Other world markets are trading from flat to positive. Nifty showed resilience towards closing yesterday, A break of 3152 is vital for Nifty to continue the ongoing pull back rally.

News Today

* ALCOA Aluminum giant says it will lay off 13% of staff, close plants, sell four business units, freeze salaries.

* Several European countries say their supply of natural gas from Russia has been cut or reduced amid a dispute over payments between Russia and Ukraine.

* Crude rallies to $50, due to geo political concerns in Israel and Russia,Ukraine tussle.

* FED minutes says "Members of the Federal Open Market Committee at their mid-December meeting saw increasing risks of depression and deflation"

* Euro-zone inflation slows to 1.6%, below ECB target, Deflation threat looms.

* Toyota to halt production for 11 days as demand falls.

* Adolf Merckle, one of Germany's wealthiest men, committed suicide after his family business empire began unraveling amid mounting deb due the financial crisis.

MarketS DailY - Jan 06

US Markets

Dow 8953		-81.80	(-0.91%)
Nasdaq 1628		-4.18	(-0.26%)
S&P 927		-4.35	(-0.47%)

Europe

FTSE 100 4580		+17.85	(+0.39%)
CAC 40 3360		+10.23	(+0.31%)
DAX 30 4984		+10.92	(+0.22%)

Asia at 9 30 AM

Nikkei 225 9145		+102.29	(+1.13%)
Hang Seng 15547		-16.74	(-0.11%)

SGX Nifty 3140 +6.5

Commodities

Light Crude (NYM)

48.81

(+2.47)

Gold (CMX)

857.80

(-21.70)

Market Outlook:

US Markets ended on red on concerns of low corporate earnings, all world markets are still in the pull back mode. Nifty showed good strength yesterday, closing was impressive. A small correction cant be ruled out. Still 3240 looks possible on Nifty.

News Today

* December US auto sales plunges Toyoto drops 36.7%, Honda 34.7%, Nissan 30.7%.

2008 total losses

Toyota Honda Nissan Mazda Hyundai

15.3% 8.2% 10.9% 10.7% 14.0%

* US Employment report for December is expected to show drop of 500,000 jobs.

* Obama proposes $300 billion in tax cuts.

* Tech Mahindra offers Satyam cashless merger , the combined entity will make the 3rd largets IT company in India.

* Crude continues its pull back rally, after making a low $32 it has given considerable bounce, could rally till $55.

* Indian Earnings kicks start from Jan 13, as Infosys will report its results. CLSA says infy would miss its lower estimate of dollar guidance.