Markets Trade Flat in Red

The Global Markets gives out mixed cues this morning. U.S. stocks climbed, with the Standard & Poor’s 500 Index reaching its highest level in more than two months, amid speculation the Federal Reserve may introduce measures to stimulate economic growth tomorrow. European stocks advanced, sending the Stoxx Europe 600 Index higher for the first time in three days, amid speculation that the Federal Reserve may announce further economic stimulus measures. This morning Most China stocks fell after growth in property prices and car sales slowed as the government clamped down on speculation and consumer demand weakened. In commodities, Crude oil was little changed above $81 a barrel in New York after rising for the first time in four days as advancing equity markets buoyed confidence that the economic rebound will spur fuel demand. Gold may advance on speculation that demand for the metal as a store of wealth will increase after weaker-than-expected jobs data spurred concern about the strength of the U.S. economic recovery. Copper declined in Asia as some investors deemed the recent rally as excessive amid concerns that demand may slow as China’s property market cools. The Indian markets taking mixed cues from its global peers started off on a soft note this morning. Selling is witnessed in indices like IT, Teck and FMCG. Some support is provided by indices like Metal, Realty and Capital Goods. Market breadth is positive with 1,551 advances against 863 declines. The Sensex trades in red at 18,263.98 declining 23.52 points or 0.13 percentage points. Nifty trades at 5479 declining by 7.15 points or 0.13 percentage points.