Markets Trade on a Positive Note

The Global Markets gives out positive clues this morning. U.S. markets closed for the Labour Day holiday. European stocks advanced for the fourth time in five days, extending a four week high for the Stoxx Europe 600 Index, as a report on U.K. manufacturing helped to further ease concern that the economic recovery is faltering. This morning Asian steel stocks rose after U.S. President Barack Obama proposed a stimulus plan to boost economic growth. Japanese exporters fell on concern a stronger yen will hurt the value of overseas sales. In commodities, Oil dropped for a second day in New York on speculation that fuel demand will decline as the U.S. summer peak consumption season ends. Gold, little changed in London, may gain as rising prices of other metals boost demand. Silver traded near the highest level in almost 2 1/2 years. Copper declined for the first time in five days as the metals rally to four-month high deterred purchases by Chinese consumers. The Indian markets continue to trade strong in today’s session for the second day taking cues from its global peers. The main gainers this morning are the Oil & Gas, Metal and Capital Goods Indices. The Sensex trades in green at 18,607.15 gaining 47.10 points or 0.25 percentage points. Nifty trades at 5589.45 gaining by 12.50 points or 0.23 percentage points.