Markets Trade Near Day's High

The Global Markets gives out positive clues this morning. U.S. stocks advanced, sending the Standard & Poor’s 500 Index higher for the fifth time in six days, as concern eased that Europe’s sovereign debt crisis will derail the global economic recovery. European stocks rose to a four-month high as improved demand for government bonds from Portugal to Poland helped ease concern about sovereign debt and shares of BP Plc advanced. This morning Asian stocks rose, driving the MSCI Asia Pacific Index higher for the first day in three, after Australian employers added more workers than estimated and an improving appetite for European government debt eased concern over the regions budget deficit crisis. In commodities, Gold, little changed in Asian trading, may decline after rising to a near-record level yesterday, as a rally in equities eroded demand for the precious metal as a store of value. Crude oil pared gains in New York on expectations a government report today will show U.S. inventories increased. Copper rose the most in a week as U.S. stocks advanced, boosting demand for commodities. The Indian markets taking cues from its global peers trade on a positive note this morning. The main gainers this morning are the Banking, Realty and Auto indices. Market breadth is positive with 1,759 advances against 811 declines. The Sensex trades in green at 18,741.34 gaining 74.63 points or 0.40 percentage points. Nifty trades at 5626.85 gaining by 19 points or 0.32 percentage points.