Markets Trade Strong in Green

The Global Markets gives out positive clues this morning. U.S. stocks rose, pushing the Standard & Poor’s 500 Index to its biggest two week gain since June, amid better-than-forecast American jobs data and as concern eased that Europe’s sovereign debt crisis would derail the global economic recovery. European stocks gained for a second straight week as a bigger-than-forecast drop in U.S. jobless- benefit claims added to indications the economy may avoid another recession. This morning Asian stocks rose, extending a two- week rally, after higher-than-forecast wholesale inventories in the U.S. and China’s industrial output increased at a faster pace than economists estimated. In commodities, Oil rose for a second day in New York amid optimism demand for fuel will strengthen because of improved prospects for an economic recovery in the U.S., the world’s biggest crude consumer. Gold, little changed, may decline as a rally in equities reduced demand for the precious metal as a haven asset. Copper climbed for the first day in three after China’s industrial output grew at a faster rate than expected, boosting optimism that demand would expand in the world’s largest metals user. Aluminum, zinc and lead also gained. Markets are trading strong this morning, on the back of positive cues from Asian markets and good IIP numbers. All the sectoral indices trade in green this morning. The main gainers are the Banking, PSU and Oil & Gas indices. Market breadth is positive with 1,827 advances against 936 declines. The Sensex trades in green at 19,069.41 gaining 269.75 points or 1.43 percentage points. Nifty trades at 5719.70 gaining by 79.65 points or 1.41 percentage points.