Markets Trade Firm in Green

The Global Markets gives out positive clues this morning. U.S. stocks rose, sending the Standard & Poors 500 Index to its biggest gain in two weeks, following higher-than-estimated earnings and BHP Billiton Ltds $39 billion bid for Potash Corp. of Saskatchewan Inc. European stocks advanced after Carlsberg A/S increased its earnings forecast and Wienerberger AG returned to profit, boosting confidence that the economic recovery can be sustained. This morning Asian stocks rose, driving the MSCI Asia Pacific Index higher for the fourth straight day, after a report showed industrial production in the U.S. jumped twice as much as forecast in July. In commodities, Oil fell after an industry-funded report showed an increase in U.S. crude and gasoline stockpiles, signaling a recovery in fuel demand may falter. Gold may decline on speculation that an advance to the highest price in six weeks, a rally that took the metal to within 3 percent of a record, may prompt some investors to sell to lock in recent gains. Copper climbed to the highest in more than a week as inventories slumped a nine-month low, raising speculation that demand is improving. The Indian markets taking cues from its global peers witnessed firm start in the morning to trade on a positive note. Most of the sectoral indices trade in green this morning with the exceptions being the Capital Goods and the Consumer Durable indices trading flat in red. The main gainers this morning are the Auto, IT and Healthcare Indices gaining more than half percentage points. Market breadth is positive with 1,779 advances against 793 declines. The Sensex trades in green at 18,130.79 gaining 81.94 points or 0.45 percentage points. Nifty trades at 5439.55 gaining by 25.40 points or 0.47 percentage points.