Markets Trade Near Day's High

The Global Markets gives out positive clues this morning. U.S. stocks fell, preventing the longest Standard & Poor’s 500 Index winning streak since July, as concern that Bank of America Corp. may have to buy back $20 billion in home loans offset a rally by technology companies. European stocks were little changed, with the Stoxx Europe 600 Index close to a four-month high, as better-than-estimated U.S. retail sales offset a selloff in utilities and a slump in German investor confidence. This morning Asian stocks rose for a fifth straight day, led by a rally in Japan after the country intervened to weaken its currency for the first time since 2004. In commodities, Gold, little changed, traded near a record on demand for a haven against turmoil in the global economy and financial markets. Oil fell for a second day after an industry report showed U.S. crude stockpiles rose and as Enbridge Energy Partners LP said it expected to finish welding a replacement section into a pipeline that was shut last week. Copper fell in London as some investors sold the metal to lock in profits from the biggest advance in almost two weeks. After touching a high of 19,502, shortly after the opening, the markets had pared some of its initial gains only to recover quickly. All the sectoral indices trade in green this morning. The main gainers are the IT, Oil & Gas and Consumer Durables indices gaining more than one percentage points. Market breadth is positive with 1,624 advances against 975 declines. The Sensex trades in green at 19,468.56 gaining 121.60 points or 0.63 percentage points. Nifty trades at 5841.10 gaining by 46.60 points or 0.80 percentage points.