Markets Trade in Green This Morning

The Global Markets gives out positive cues this morning. U.S. stocks rallied the most in almost two months as better-than-estimated growth in American and Chinese manufacturing bolstered confidence in the global economic recovery. European stocks rallied by the most in more than three months after reports showed growth in U.S. and Chinese manufacturing accelerated and Vivendi SA raised its earnings forecasts. This morning Asian stocks rose, lifting the MSCI Asia-Pacific Index to a two-week high, as faster-than-estimated growth in U.S. manufacturing supported confidence in global economic growth. U.S. index futures declined. In commodities, Oil traded near $74 a barrel after rising the most in a month as manufacturing in the U.S. and China, the world’s biggest energy-consuming countries, accelerated in August at a faster pace than forecast. Gold prices fell from a two-month high as U.S. equities rebounded, eroding demand for the precious metal as a store of value. Copper in London traded near a four- month high, extending yesterdays advance, after better-than- expected economic data in U.S. and China, the two biggest consumers, boosted the demand outlook. Copper in Shanghai gained. A day after the government released buoyant growth figures of 8.8 per cent, there was corroborating evidence on Wednesday that the India story was firmly on track. Automakers, for instance, posted robust sales for August over the same month last year. The main gainers are the Consumer Durables and Metal indices gaining more than one percentage points this morning. Market breadth is positive with 1,829 advances against 707 declines. The Sensex trades in green at 18,266.87 gaining 61 points or 0.34 percentage points. Nifty trades at 5490.65 gaining by 18.80 points or 0.34 percentage points.