Markets Trade on a Steady Note

The Global Markets gives out mixed cues this morning. Most U.S. stocks rose, with the Standard & Poors 500 Index ending a four-day slump, as technology companies helped the market overcome an earlier slide driven by concern about an economic slowdown. Most European stocks declined as slower-than-forecast economic growth in Japan increased concern that the global recovery may be faltering. This morning most Asian stocks fell, led by declines in Japan, as speculation the country will introduce economic stimulus measures fueled concerns over the strength of the global recovery. Utilities advanced. In commodities, Crude oil traded near a five-week low after Asian equities declined, New York manufacturers orders fell and U.S. homebuilders turned more pessimistic, increasing concern that global economic growth is faltering. Gold may extend its rally to the highest level in more than six weeks as signs of a cooling global economy are luring investors back to the metal as a store of value. Copper climbed for a second day in Asian trading as lower inventories and a weaker dollar buoyed the outlook for demand. The Indian markets trade on a positive note this morning. The main gainers this morning are the Banking, Consumer Durables and FMCG indices. Market breadth is positive with 1,571 advances against 1,078 declines. The Sensex trades in green at 18,071.45 gaining 20.67 points or 0.11 percentage points. Nifty trades at 5422.20 gaining by 3.90 points or 0.07 percentage points.