Markets Trade in Green on Positive Global Cues

The Global Markets gives out positive cues this morning. U.S. stocks trimmed its weekly drop on Friday on better-than- forecast growth in the American economy and as Federal Reserve Chairman Ben S. Bernanke said the central bank is ready to provide more stimulus if needed. European stocks declined for a third week on concern that the U.S. economy is stalling, while Federal Reserve Chairman Ben S. Bernanke pledged that the central bank ‘will do all that it can’ to help the recovery. This morning Asian stocks rose the most in five weeks on speculation the Bank of Japan will announce measures to weaken the nation’s currency and Federal Reserve Chairman Ben S. Bernanke pledged to safeguard the U.S. economic recovery. In commodities, Oil advanced for a fourth a day amid optimism fuel demand will increase because of improved prospects for economic growth in the U.S., the world’s biggest crude user. Gold fell on speculation that four weeks of gains are prompting some investors to sell their holdings after Federal Reserve Chairman Ben S. Bernanke pledged to safeguard the economic recovery. Copper futures in New York advanced to a four-month high, extending last weeks gain after a report showed the economy in the U.S. grew faster than forecast in the second quarter. The Indian markets taking cues from its global peers trade on a positive note this morning. The main gainers this morning are the Metal, Realty and Auto indices gaining more than one percentage points in green. Market breadth is positive with 1,894 advances against 810 declines. The Sensex trades in green at 18,103.39 gaining 104.98 points or 0.58 percentage points. Nifty trades at 5439.10 gaining by 30.40 points or 0.56 percentage points.