Markets Trade in Red This Morning

The Global Markets gives out mixed cues this morning. U.S. stocks fell; erasing the previous session’s advance, after a smaller-than forecast gain in personal incomes added to concern the economic rebound may slow further. European stocks closed little changed after three weeks of declines for the Stoxx Europe 600 Index as a resurgence of takeover activity offset a retreat in auto industry shares. This morning Asian stocks fell, poised for a third decline in four months, as slower-than estimated growth in personal incomes in the U.S. heightened concern the economic recovery may slow and the yen strengthened. In commodities, Oil declined for a second day as slower-than-forecast growth in U.S. personal incomes added to concern that the pace of economic recovery in the world’s largest crude user may falter. Gold is set for the biggest monthly advance since April as signs that the global economic recovery may be faltering prompt investors to boost their holdings to try to preserve their wealth. Copper climbed to the highest price in four months on speculation that demand will rise as governments worldwide pledged to boost growth. The Indian markets trade on negative note this morning. Most of the sectoral indices trade in red this morning. FMCG and Healthcare indices trade flat in green. The main draggers are Oil & Gas, Realty and Metal indices declining more than one percentage points. Market breadth is negative with 754 advances against 1,833 declines. The Sensex trades in red at 17,908.90 declining 123.21 points or 0.68 percentage points. Nifty trades at 5379.05 declining by 36.40 points or 0.69 percentage points.