Markets Witness Lacklustre Trade

The Global Markets gives out mixed clues this morning. U.S. stocks advanced, sending benchmark indexes to the highest levels in five weeks, as speculation companies will be bought or return cash to shareholders raised investor’s optimism. European stocks fell, with the Stoxx Europe 600 Index slipping for a second day, after analysts recommended investors sell companies from Drax Group Plc to Logitech International SA. This morning most Asian stocks fell as declines among mining companies overshadowed speculation Japan will take more steps to weaken the yen and bolster export earnings. In commodities, Oil declined for a third day after a government report showed U.S. fuel demand slipped last week and manufacturing in the New York area expanded slower than forecast, signaling economic growth may falter. Gold, little changed, may climb to a record on speculation that the dollar may resume a decline even after Japan intervened to weaken the yen. Silver traded at the highest price in 30 months. Copper pared early gains to trade little changed as worse-than-expected economic data in the U.S., the world’s second-largest user after China, renewed concerns about the strength of the global recovery. The Indian markets witness lacklustre move this morning. The main gainers are the FMCG, Banking and Capital Goods indices. The main draggers this morning are the IT and Teck indices trade in red declining more than one percentage points this morning. Market breadth is positive with 1,321 advances against 1,232 declines. The Sensex trades in red at 19,494.56 declining 7.55 points or 0.04 percentage points. Nifty trades at 5853.40 declining by 7.55 points or 0.13 percentage points.