Markets Witness Lacklustre Session This Morning

The Global Markets gives out mixed cues this morning. U.S. stocks fell for a third day, sending the Standard & Poors 500 Index to a five-week low, as concern the economy may return to recession overshadowed speculation takeovers will continue to accelerate. European stocks gained for the first time in four days after the Stoxx Europe 600 Index’s biggest weekly decline in seven weeks left the measure at the lowest level in a month. This morning Asian stocks fell, as Japans Nikkei 225 Stock Average entered a bear market, on speculation a U.S. home sales report due later today will provide more evidence the worlds largest economy is faltering. In commodities, Oil declined for a fifth day after analysts estimated that U.S. inventories of crude rose last week and as the dollar rose against the euro because of concern the global economy is slowing. Gold fell for a third day as an advance in the dollar curbed demand for commodities, including precious metals. Copper dropped ahead of data that economists forecast will show the U.S. housing market slowed last month, dimming prospects for demand in the world’s second- largest user. The metal in Shanghai slumped to a one-week low. The Indian markets after starting off on a positive note slipped into the red as the markets witness lacklustre session this morning. Almost all the sectoral indices trade in red with the only exception being the FMCG index which is trading in green gaining nearly half percentage points. The main dragger this morning is the Realty index which trades in red declining more than one and half percentage points followed by the Consumer Durable, Metal and Banking indices trading in red declining more than half percentage points. Market breadth is negative with 1,164 advances against 1,320 declines. The Sensex trades in red at 18,358.51 declining 50.84 points or 0.28 percentage points. Nifty trades at 5517.55 declining by 25.95 points or 0.47 percentage points.