Markets Trade Sideways

The Global Markets gives out negative cues this morning. European stocks fell this week after the Federal Reserve said the pace of economic recovery is likely to be ‘more modest’ than forecast and European industrial production unexpectedly declined. This morning Asian stocks fell, dragging the MSCI Asia Pacific Index to the lowest level in three weeks, after Japans economy expanded at the slowest pace in three quarters and U.S. retail sales missed economist estimates. In commodities, Crude oil traded near a one month low after a report showed Japans economy grew at a slower-than- expected rate and Asian equities fell. Gold advanced for a third day as signs that the global economy is faltering help fan demand for the metal as a store of value. Copper gained in London and New York, rebounding from the first weekly loss in a month, as last weeks decline boosted purchases. Prices dropped in Shanghai. The Indian markets trade on a flat note this morning as it witnesses lacklustre session. Consumer Durables index is the main gainer this morning providing some support to the markets by gaining nearly one and half percentage points. Market breadth is positive with 1,730 advances against 958 declines. The Sensex trades in green at 18,173.01 gaining 5.98 points or 0.03 percentage points. Nifty trades at 5458.35 gaining by 6.25 points or 0.11 percentage points.