Markets Witness Quite Session This Morning

The Global Markets gives out mixed cues this morning. U.S. stocks fell for a second straight week as a jump in jobless claims and an unexpected slump in Philadelphia-area manufacturing suggested a rebound in corporate profit growth won’t be sustained. European stocks posted the biggest weekly decline in seven weeks as economic reports from the U.S. and Japan heightened concern that the global economic recovery may be stalling. This morning most Asian stocks fell amid mounting concerns over the global economy after calls by a European Central Bank official to maintain stimulus measures. In commodities, Copper climbed for the first time in three days as some investors who bet on falling prices made purchases to lock in gains following the recent decline. Crude oil rose from the lowest in six weeks after Chinese equities climbed on better-than-expected quarterly earnings, increasing optimism that growth in emerging markets will boost fuel demand. Gold, little changed in Asian trading, may decline as the prospect of the dollars advance weighed on investor sentiment. The Indian markets witnessing sideways movement this morning. Almost all the sectoral indices trade in green this morning, the exceptions being the FMCG and Banking indices trading in flat in red. The main gainers this morning are the Consumer Durables, Auto and PSU indices. Market breadth is positive with 1,783 advances against 864 declines. The Sensex trades in green at 18,418.40 gaining 16.58 points or 0.09 percentage points. Nifty trades at 5535.45 gaining by 4.80 points or 0.09 percentage points.