Markets Trade In Green This Morning

The Global Markets gives out mixed clues this morning. U.S. stocks rose, with the Dow Jones Industrial Average recovering from an early 102-point slide, as investors speculated that recent declines in equities overshot the potential damage from a slowdown in the economy. European stocks declined for a second day, extending a five-week low, after lower-than-forecast U.S. durable-goods orders and new-home sales added to mounting concern about the strength of the world’s largest economy. This morning most Asian stock markets rose, lifting the MSCI Asia Pacific Index from a one month low, amid speculation declines this month had made shares cheap relative to earnings. In commodities, Crude oil rose for a second day in New York as U.S. equities climbed and the dollar slipped against the euro, bolstering the appeal of commodities to investors. Gold may decline on speculation that the metals advance to the highest level in eight weeks will prompt investors to lock in gains. Copper climbed for the first time in three days in Asia, as equities rebounded and the dollar halted a five-day advance, boosting the global economic outlook. Zinc, lead and nickel rose. After a positive opening the markets continue to trade within a narrow range of 50 odd points. In the broader markets, the small cap index has gained 0.5 per cent while the midcap index is up 0.3 per cent as compared to the benchmark index which is up 0.2 per cent. Among the sectoral indices on the BSE, FMCG up 1.1 per cent leads while Banking index which had been languishing for the past few days has gained 0.5 per cent. Market breadth is positive with 1,468 advances against 1,105 declines. The Sensex trades in green at 18,229.05 declining 49.41 points or 0.27 percentage points. Nifty trades at 5475.15 gaining by 12.80 points or 0.23 percentage points.